[Excerpted from chapter 13 of Guido Hülsmann’s The Ethics of Money Production (2008).]

[Chapter 20 of The Conquest of Poverty, 1996.]

The theme of this book is the conquest of poverty, not its “abolition.” Poverty can be alleviated or reduced, and in the Western world in the last two centuries it has been almost miraculously alleviated and reduced; but poverty is ultimately individual, and individual poverty can no more be “abolished” than disease or death can be abolished.

[Chapter 3 of Classical Liberalism and the Austrian School. This chapter is adapted from a paper delivered at the general meeting of the Mont Pèlerin Society, in Cannes, September, 1994.]

Bankrolling Adam Smith?

Ronald Coase, Nobel Laureate in economics, relates an interesting incident highly revelatory of the state of mind of opinion moulders in the United States.

Pikachu is a yellow mouse and the internationally-recognized mascot of the Pokémon Franchise. Pokémon’s beginning was a game and disconnected (“Pocket Monsters”) playing cards decades ago. Over time, it has spawned a TV series, a monopoly game, and a worldwide card collection fever. The tangible cards are now an ersatz currency to reward chore completion, trade for other cards, cash, and bitcoin. Bartering lives, and the card collection fever illustrates Austrian economics.

The Telegraph recently headlined a report titled ‘Monstrous’ Equality Act has gone too far, warns Lord Sewell. It seems that conservatives in the UK believe the Equality Act 2010, which is based on the same principles as civil rights legislation in the United States, has “gone too far.”