How Society Works: Plato’s Contribution

Plato’s Republic purports to deal with the nature and conditions of a just republic, as well as with the perversions of justice in man and society. However, Guido Hulsman writes that its discussion of these normative topics is squarely built upon a positive theory of the origin and nature of society. And at the heart of this theory, as we shall see, is a sophisticated account of the division of labor. The theory of the division of labor is one of the cornerstones of economics. It is the very foundation of the scientific analysis of society and the market.

Menger the Revolutionary

Menger’s path-breaking Principles of Economics, published in 1871 and newly published by the Mises Institute with an introduction by Peter G. Klein, not only introduced the concept of marginal analysis, it presented a radically new approach to economic analysis, one that still forms the core of the Austrian theory of value and price. Menger favored an approach that was deductive, teleological, and, in a fundamental sense, humanistic. Menger was primarily interested in explaining the real-world actions of real people, not in creating artificial, stylized representations of reality. Economics, for Menger, is the study of purposeful human choice, the relationship between means and ends.

This man truly is a Santa Klaus

Czech President Vaclav Klaus - according to a report posted on Drudge - actually came out and told the Environmentalist Emperor he really ought to put some clothes on. Bravo! 

President of Czech Republic Calls Man-Made Global Warming a ‘Myth’ - Questions Gore’s Sanity

Mon Feb 12 2007 09:10:09 ET

Czech president Vaclav Klaus has criticized the UN panel on global warming, claiming that it was a political authority without any scientific basis.

Capital Goods and Capital

There is an impulse inwrought in all living beings that directs them toward the assimilation of matter that preserves, renews, and strengthens their vital energy. The eminence of acting man is manifested in the fact that he consciously and purposefully aims at maintaining and enhancing his vitality.