Political Theory

Setting your entire production structure on the whims and fancies of bureaucrats and politicians, based upon central-planning diktat quickly leads to economic chaos.

If laws or business customs force the employer to make other expenditures besides the wages he pays to the employee, the take-home wages are reduced accordingly. Such accessory expenditures do not affect the gross rate of wages.

Naturally, given Mises's emphasis on the centrality of the division of labor to the maintenance and progress of civilization, he is particularly outspoken regarding the evils of aggressive war, which on top of its physical and human toll brings about the progressive impoverishment of mankind by its radical disruption of a harmonious structure of production that spans the entire globe.

According to Louis XIV, a king is superhuman, a man who is above all and sees all and is the only one working for the “public” good, wh

What Thoreau was defending here, in 1849, was essentially the same concept the English philosopher Herbert Spencer defended two years later, in his book Social Statics, as "the right to ignore the State."

Jefferson rejected the Federalist axiom that in order to have peace one must prepare for war — the theory being that the more powerful a country was in armaments the less likely it was to be attacked. Jefferson doubted both the wisdom of this theory and Federalist sincerity in invoking it."

Institutional unemployment is not the outcome of the decisions of the individual job seekers. It is the effect of interference with the market phenomena intent upon enforcing by coercion and compulsion wage rates higher than those the unhampered market would have determined.

"New York City taxicab licenses are strictly limited in number — so much so, that they have been sold for as much as $30,000. This effectively bars the poor from entering the field as owners."

It should come as a monumental embarrassment to future social scientists to observe that their mainstream predecessors were worse than useless for

European democracy broke down because there were no democrats left in continental Europe. The place held in America by the Gettysburg Address was occupied in Europe by the Communist Manifesto. No further comment is necessary.