When the Progressives, 100 years ago or so, made a push for universal compulsory schooling, and the state marched ahead to crowd out as many private alternatives to public school as possible, it was widely seen as a mechanism for social uplift. What the good rhetoric masked was the sheer totalitarian nature of the combination of state schooling plus compulsory attendance. In effect, it amounted to the nationalization of children. In so doing, the U.S. was following a trend that began in Europe.

Rothbard’s article “Hayek and the Nobel Prize” posted today as a Mises Daily article is an insightful and moving tribute to Hayek. It should finally lay to rest the unfounded claim that Rothbard did not appreciate and build upon Hayek’s immense contribution to economics. One of Rothbard’s greatest contributions to economics was his integration of the Wicksell-Hayek structure-of-production analysis with the Fetter-Mises time preference theory of interest.

In Authors: Beware of Copyright, Jeff Tucker warns authors to be careful with their publication agreements not to alienate their books and other works. A good illustration of this peril is found in the case of Buddy Holly and his recording contract with Decca. As reported in Buddy Holly’s secretly recorded contract negotiation with Decca,

Free-market economist Professor William F. Shughart II attempts to defend the need for IP in “Ideas Need Protection,” The Baltimore Sun (Dec. 21, 2009) (previously published in the Christian Science Monitor).

Lenders have begun to realize that they will come out much better negotiating a short sale rather than foreclosing on a property, taking title, paying for the upkeep and costs of marketing these properties for sale.

“In Las Vegas, banks make $80 per square foot on foreclosures but $130 per square foot on average in short sales, said Steve Bottfeld, executive vice president of Marketing Solutions.”

Do spiders need capitalism? HT: Paul Novarese.