Land in its natural state is not owned by anyone, argued John Locke in Two Treatises of Government, but after land is transformed by an individual’s labor, that person earns a right to own the land and any improvements. In the mid-1800s, the U.S. government put Locke’s property-rights theory into practice with the Homestead Act. Russia replicated the act in recent years. Today, America needs a modern version to create new opportunities.

Slavery has existed throughout history in all places and cultures. It was not introduced by the political state yet, as with many things, slavery could not have had the scope or extent that it did in human history absent the coercive apparatus of the political state. Through cronyism, slaveholders consistently had to seek assistance from the legal system in order to socialize and enforce slavery. The enforcement costs for keeping slaves slaves would have been too high for the minority slaveholding elite to maintain slavery, beyond their own strength or what they could afford to hire.

It is widely held that financial asset markets always fully reflect all available and relevant information, and that adjustment to new information is virtually instantaneous.

In The Betrayal of the American Right, Rothbard asks “how many Americans realize that, not so long ago, the American right wing was almost the exact opposite of what we know today?” Describing the American Old Right, Tom Woods explains that:

One of the central tenets of Marxism is the labor theory of value, which states that the value of a commodity is determined by the amount of socially-necessary labor time required to produce it. In this framework, labor itself becomes a commodity—something that can be bought and sold in the marketplace. Marx argues that, under capitalism, workers are forced to sell their labor power to capitalists, who exploit them by paying wages that are less than the full value their labor produces. This difference—or “surplus value”—is appropriated by the capitalist as profit.

Bologna, a city in northern Italy, is considered by many scholars to be the oldest university city in the Western world. Its university—the Alma Mater Studiorum—dates back to the year 1088. From the very beginning, the University of Bologna specialized in the analysis of law, especially in the study of canon law (the set of laws and decrees concerning the clergy and religious matters). Bologna became the home of famous jurists who studied and analyzed the laws issued in Rome by the Pope.