In the ten years between 1994 and 2004, a dramatic turn took place within the Republican Party. The themes of the 1994 election weren’t just about cutting government, though that was the central campaign promise of that generation of elected officials sent to Washington. The core was more revolutionary than that: it was a dogged commitment to full freedom philosophy forged in opposition to all the works of the central state.
The dollar may not die anytime soon but its capacity for lording it over all living things is ending.
Indeed, because a free market in space industries would be open to all competitors, we have every reason to expect technological innovation to be much quicker than in a monopolized space program.
It is the conviction of the liberal intellectual tradition dating back to the Middle Ages that society contains within itself the capacity for internal self-management. This is in contrast to the claims of the sociology literature, which posits that human society is riddled with conflict between groups: races, ages, ethnicities, and abilities.
Hans F. Sennholz, winner of the 2004 Gary G. Schlarbaum Prize for Lifetime Achievement in Liberty, is one of the handful of economists who dared defend free markets and sound money during the dark years before the Misesian revival.
Professor Mises had come to the United States in 1940 and joined the faculty of the Graduate School in 1945. At that time he had already published his Bureaucracy (1944) and Omnipotent Government (1944) and undoubtedly was laboring on his magnum opus, Human Action (1949) which built on its German-language predecessor Nationalökonomie.
If we continue to pay attention to authors like Schlosser and Ehrenreich who blame the free market for the problems we face, public support for the market will dwindle to less than it is already, and the prosperity that the free market generates will be destroyed.
The newest political cliché offered up by the Republicans speaks of the need for an "Ownership Society." To those of us who support private property, it might sound good at first. But let us think about this before embracing it.
It was capitalism that finally ended the Great Depression, not FDR’s harebrained cartel, wage-increasing, unionizing, and welfare state expanding policies.
Price stability is a misleading and an inherently contradictory concept. When such a construct as the price index becomes the guiding post for central banks, they will tend to produce and reinforce the very instabilities they proclaim to fight.
