Noam Chomsky is an outstanding critic. But figuring out what he is for in the realm of economics is not easy. He doesn't like what we have now. He disfavors Stalinism and fascism. He despises the libertarian alternative to the present regime. That leaves him with a hazy and unworkable syndicalism.
The fate of families and children in Sweden shows the truth of Ludwig von Mises's observation that "no compromise" is possible between capitalism and socialism, writes Allan Carlson. He shows how the welfare state's growth can be viewed as the transfer of the "dependency" function from families to state employees. The process began in 19th-century Sweden.
Grover Cleveland fought to restore honesty and impartiality to government, particularly by eliminating government favors. He tried, though unsuccessfully, to eliminate protective tariffs.
Critics of Austrian theory maintain that there is no justification for the notion that businessmen should fall prey again and again to an artificial lowering of interest rates. Businessmen are likely to learn from experience, the critics argue, and not fall into the trap produced by an artificial lowering of interest rates. Frank Shostak responds.
Millions of students begin their first day of classes with a profound awareness of the impending make-or-break tests, to be taken at regular intervals from the first to the twelfth grade. On the face of it, writes Jeffrey Tucker, it seemed to work. But reformers forgot one thing: we are dealing here with public school.
Despite Mayor Bloomberg's recent 18% tax hike, despite his promise that next year the hated city income tax will be hiked, another tax increase beyond these is looming on the horizon for New Yorkers. It is a tax increase that is another result of generations of municipal and state mismanagement.
Washington loves the analogy—-and reality—-of war. Adam Young considers one of the most famous uses of that term, the War on Poverty. It was in reality, a State-sponsored war on the opportunities of the poor and on all Americans.
The consequences of a markedly diminished position of the US dollar would be dramatic and of global proportions. While it would affect all economies that are closely related to the US economy, the major impact would fall on the United States itself. A demise of the US dollar as the dominant global currency would mean that the current relation between domestic absorption and production could no longer be maintained.
Those who claim that government is the source of social order say that in its absence there would be violence, chaos, and a low standard of living. But medieval Iceland illustrates an actual and well-documented historical example of how a stateless legal order can work and it provides insights as to how we might create a more just and efficient society today.
I should have known Murray Rothbard was something special the first night of class when I noticed a fellow student, James Philbin, following behind Murray as he entered the classroom carrying a stool for Murray to sit on as he lectured.
