The original version of this paper was delivered at the Fourth Libertarian Scholars Conference, October 1976, New York City.

“What in a communistic society is done upon a decision of the supreme economic council is in our individualistic society brought about by the collective but independent action of the individuals and carried out by the price mechanism.”

“All things are subject to the law of cause and effect. This great principle knows no exception.”

Hans Sennholz (February 3, 1922 - 23 June 2007), professor at Grove City College, was one of a handful of men in intellectual history who were able to perform both of these functions with notable distinction. J. B. Say, Frederic Bastiat, Carl Menger, Eugen von Böhm-Bawerk, Edwin Cannan, the early Lionel Robbins, Henry Hazlitt, William Hutt, Murray Rothbard and Mises himself—these were all men who were blessed with that exceedingly rare combination of abilities needed to conceive new economic truth and to effectively propagate it among the general public.

Published in the Cato Journal Vol. 19, No. 2, 1999.

From The Review of Austrian Economics Vol. 7, No. 1, 1994.

Published in the Cato Journal Vol. 20, No. 3, Winter 2001.

From The Review of Austrian Economics Vol. 2, 1988.

From The Journal of Ayn Rand Studies Vol. 6, No. 2, Spring 2005.

From The Journal of Ayn Rand Studies Vol. 9, No. 2, Spring 2008.