In sum, protection and security contracts would come into existence. Furthermore, as a result of the continual cooperation of various insurers and arbitrators, a tendency toward the unification of property and contract law and the harmonization of the rules of procedure, evidence, and conflict resolution would be set in motion.
No man or group of men — including any group of men calling themselves "the government" — is morally entitled to initiate the use of physical force, the threat of force, or any substitute for force against any other man or group of men. The USA is moving increasingly away from a free-market economy and toward fascist totalitarianism.
What we need today is full, radical, complete, uncompromised deregulation and privatization. We need competition. What we need is the absence of legal barriers to enter the market. Many people want to avoid the topic of energy because it is technical, large, and seems too specialized. But Robert Bradley's book tells you what you need to know, from the perspective of history, economics, and politics; and it does so understandably.
This power to create money is what gives the president the chutzpah to go to war without seeking full financing or even much in the way of permission from Congress.
Praxeology tells us that human action is rational. The case being made for state action to remedy so-called irrationalities discovered by researchers in behavioral economics and finance has no logical justification.
With the cumulative effects of inflation, the face values of our coins no longer has any relation to historic commodity value.
Allowing terminally ill people to bypass the drug testing and approval process will not create a "right to experimental drugs." It will not destroy the incentives for patients to participate in the clinical trial system. It will not make it impossible to gather scientific data on how drugs work. What it will do is allow individuals who are fully capable of rational choice to make the most important choices of all according to their own values.
To Mises, freezing money supply did not represent, per se, a desirable money system, even though the consequences derived from it would make such a system appear more in line with a free market economy than the current system of relentless increase in credit and fiat money supply, controlled by the government.
Rich men exist today, but more frequently than not they owe their fortunes directly or indirectly to the state.
With the aide of commerce and a bit of kitchen ingenuity, we may finally have a system that comes close to replicating that ideal you created for all of us.
