The guild system possesses a superficial plausibility, which gives it what attractiveness it may have among market critics left and right. But consider how a guild system must work in practice. The logic of the guild is such that certain people who wish to enter a particular trade are denied entry.
Government was different in the 19th Century, but not as starkly different as some people believe. The 20th Century was the Progressive Era. Foreign policy went from staying out of European quarrels to policing the world whether the world desired policing or not. Unchecked government intervention became the rule.
State and local levels of government were more burdensome to people in the early stages of our country than federal levels. The national government mainly received revenue through tariffs and land sales.
The growth of government power in American history has been by creating emergencies that then necessitate a ratcheting up of centralized power and war. Crisis & Leviathan by Higgs is a prime resource for this topic.
The role of ideology in the growth of government is required as intellectual cover for what is done regardless of the government form (e.g. monarchy or socialism). For example, Arthur Schlesinger, Jr. played such an intellectual role.
In the works of Jacobs, the order present in a well-functioning urban area emerges as the result of human action but not human design. It arises from a myriad of individuals each pursuing their own interest and carrying out their own plans, within a framework of rules that encourages peaceful cooperation over violent aggression.
Several times recently, Gene Callahan has found himself engaged, directly or indirectly, in discussions about exactly what implications follow from the existence of human action, the foundation of economic science. The effort to draw out those implications is called praxeology.
The journalist's skill as an observer can only take him so far, if he is observing with the wrong theory in mind. As Thomas Friedman's "Theory of Everything" shows, without the distinction between power and market—the very core of the libertarian idea—a theory of everything can easily turn into a theory of nothing.
With growing government outlays and the Fed's reckless monetary policies, it is mission impossible to have an effective cut in taxes, argues Frank Shostak. That the intention is to grow rather than shrink the size of the government was demonstrated by President Bush's signing the increase in the Federal debt limit from $6.4 trillion to $7.384 trillion on the day he signed into law the tax cuts.
State efforts to reduce inequality and poverty have been, at best, ineffective. Everywhere we turn, writes Art Carden, the prophets of doom are telling us that the market economy sows the seeds of its own destruction by generating unequal distributions of income.
