Spending is based on what government "taxes" but also on what government borrows and inflates. It's quite simple. If government spends it, we can't spend or save or invest, and that's bad. As Murray Rothbard explained, deficit spending leads either to inflation or to crowding out private capital investment. Either horn of the dilemma reduces wealth.
In a free market, what a person is is determined by how well a person does. But it's different in state-controlled professions. You can be a great doctor but without the license to practice, you are guilty of a serious crime. The same is true in aviation and law. It is not enough to be good at what you do. You must jump through hoops held by politicians and bureaucrats.
"There can be no such thing as a nation flourishing alone in commerce: she can only participate; and the destruction of it in any part must necessarily affect all." Thomas Paine.
This book frightens me. The authors do not confine themselves to a justification of the American invasion of Iraq,
In democratic societies, elected political officials are the final arbiters of the government's marketplace do's and don'ts. Who elects these political officials? Surprise! The same people supposedly incapable of making informed decisions in the marketplace.
The experience of "regime change" in Iraq raises fundamental questions about political economy and philosophy. For example, the looting and vandalizing that occurred after the military defeat of the Saddam Hussein government in Baghdad has been cited as proof of the necessity of a state. Hans Hoppe refutes the idea.
Why did Hayek see the economy's capital structure as being so central to our understanding of industrial fluctuations? Just how did his ideas line up against those being developed by John Maynard Keynes? And why did Hayek eventually all but abandon the research program that had so energized him in those early years? Roger Garrison explains.
The Principality of Liechtenstein is a small State in Central Europe, situated between Austria and Switzerland. Though its geographical location and diminutive size make it a somewhat anonymous State, its independent political climate gives rise to an exemplary model for the study of political and economic phenomena. But it is under serious attack today.
Boycotters do not wish to target only business firms; they also are trying to influence the political process by directing political campaigns against people and causes that the pressure groups want to marginalize. William Anderson is fed up.
Can a few courageous writers like Tom DiLorenzo and his colleagues, using logic, evidence, and moral suasion, negate what their opponents thought they had won with over a million troops on battlefields 138 years ago?
