Community Norms for Punishment and Restitution

Audio/VideoMarch 14, 2010
Recorded 13 March 2010 at the Ludwig von Mises Institute in Auburn, Alabama.

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Against the Idols of the Age, by David Stone

Institute PublicationsJuly 1, 2000
The present anthology of David Stove articles is an excellent book throughout, but I should like first to concentrate on a few pages that make a decisive contribution to contemporary thought.

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13. The Fallacy of the Equation of Exchange

Online Text Page from Man, Economy, and State, with Power and Market

The basis on which we have been explaining the purchasing power of money and the changes in and consequences of monetary phenomena has been an analysis of individual action. The behavior of aggregates, such as the aggregate demand for money and aggregate supply, has been constructed out of their individual components. In this way, monetary theory has been integrated into general economics.

13. Enforcement Against Invasion of Property

Online Text Page from Man, Economy, and State, with Power and Market

This work is largely the analysis of a market society unhampered by the use of violence or theft against any man's person or property. The question of the means by which this condition is best established is not at present under consideration. For the present purpose, it makes no difference whether this condition is established by every man's deciding to refrain from invasive action against others or whether some agency is established to enforce the abandonment of such action by every individual.

13. The Founding Father of Crony Capitalism

Audio/VideoJanuary 31, 2014
Section Two: Politics and Thieves. Narrated by Harold L. Fritsche.

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13. Government and Money

Online Text Page from What Has Government Done to Our Money?, Ch. III. Government Meddling With Money

Many people believe that the free market, despite some admitted advantages, is a picture of disorder and chaos. Nothing is "planned," everything is haphazard. Government dictation, on the other hand, seems simple and orderly; decrees are handed down and they are obeyed. In no area of the economy is this myth more prevalent than in the field of money. Seemingly, money, at least, must come under stringent government control. But money is the lifeblood of the economy; it is the medium for all transactions.

The Found Fathers: Smugglers, Tax Evaders and Traitors?

Institute PublicationsJuly 1, 1987
During patriotic holidays, the news media applaud the Founding Fathers. But rarely does anyone mention some important facts about them: that they were smugglers, tax evaders, and traitors. Not only is this important, it is also praiseworthy; it produced the most advanced civilization ever known.

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Matter of Degree, Not Principle: The Founding of the American Liberty League

Institute Publications
On October 29, 1929, the roof fell in on the booming American economy. A nation that since World War I had come to believe material progress was inevitable and unstoppable suddenly witnessed the most surreal of spectacles: panic on Wall Street. The change in economic conditions dashed the...

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The Origins of the Federal Reserve

BooksFebruary 8, 2011
The Fed did not originate as a policy response to national need. It was founded by two groups of elites: government officials and large financial and banking interests.

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Libertarian Literature Review, Issue 13 Number 1

Institute Publications
This section provides short descriptions of scholarly articles expounding on libertarian theory or otherwise of special interest to libertarians. The articles listed will be drawn exclusively from non-libertarian periodicals, since specialized libertarian fora are well-known sources of libertarian...

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Biography of Wilhelm Röpke (1899-1966): Humane Economist

BooksAugust 1, 2007
"I champion an economic order ruled by free prices and markets...the only economic order compatible with human freedom." Wilhelm Röpke devoted his scholarly career to combating collectivism in economic, social, and political theory. As a student and proponent of the Austrian School, he...

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13. The State and Antisocial Conduct

Online Text Page from Liberalism: In the Classical Tradition, Ch. 1. The Foundations of Liberal Policy

The state is the apparatus of compulsion and coercion. This holds not only for the "night-watchman" state, but just as much for every other, and most of all for the socialist state. Everything that the state is capable of doing it does by compulsion and the application of force. To suppress conduct dangerous to the existence of the social order is the sum and substance of state activity; to this is added, in a socialist community, control over the means of production.

Review of Austrian Economics, Full Collection

BooksMay 9, 2012
In 1987, The Review of Austrian Economics was founded and edited by Murray N. Rothbard, and functioned as the premier Austrian School scholarly journal.

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Less than Zero: The Case for a Falling Price Level in a Growing Economy

BooksMarch 16, 2010
Zero inflation's full benefits will not be grasped unless we recognize it as a stepping-stone towards something even better...

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13. Capitalism versus Socialism

Online Text Page from Money, Method, and the Market Process, Ch. Comparative Economic Systems


Most of our contemporaries are highly critical of what they call “the unequal distribution of wealth.” As they see it, justice would require a state of affairs under which nobody enjoys what are to be considered superfluous luxuries as long as other people lack things necessary for the preservation of life, health, and cheerfulness.

The New Despotism

BooksMarch 16, 2010
When the modern political community was being shaped at the end of the 18th century, its founders thought that the consequences of republican or representative institutions in government would be the reduction of political power in individual lives.

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The Moral Case for the Free Market Economy

BooksJuly 6, 2006
Tibor Machan makes the case for the free market system of economics based on the view of human beings as moral agents with the legal system of a good community as designed to nurture this moral agency.

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Deeper Than You Think

BooksJanuary 11, 2013
Leonard Read implores that “Truth is not to be found in coercive arrangements.”...

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How to Keep Our Liberty

BooksJuly 17, 2009
"Individualities may form communities, but it is institutions alone that can create a nation." This was a comment by Benjamin Disraeli a century ago when he was beginning the task of building the Conservative Party, a party that still lives a lusty, constructive life...

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