Faced with such apparently nonsensical results as the Anne Hathaway effect, automatic trading programs look silly. On the other hand, this is true of any task to which humans put computers; it doesn’t mean computers are useless.

It is a common idea, accepted by all those who have written on commerce, that an increased quantity of money in a state decreases the rate of interest, because when money is abundant it is easier to find some to borrow. This idea is not always true or accurate. For proof, we need only to remember that, in 1720, nearly all the money in England was brought to London.

Fascism’s roots are not indigenous to Italy but are to be found in all Western societies; the New Deal is but one example.

Many people who otherwise oppose war in general terms make an exception for a so-called humanitarian war, such as the war in Libya.

Among many great points Hans Hoppe makes in this outstanding interview: “intellectual property rights and real property rights are incompatible, and the promotion of intellectual property must be seen as a most dangerous attack on the idea of ‘real’ property (in scarce goods).”

Here’s an example of how cooperation helps us produce more output with the same quantity of resources. Part 3 will show how trade can help us conserve resources.