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The Enterprise of Community: Market Competition, Land, and Environment

Institute Publications
We hear a lot of expressed concern about conserving the environment, but no one talks much about producing it. Why not manufacture it competitively and sell it in the free market like other goods and services—and even bundle it with product support? As a matter of fact, that is being done. It...

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Monetary Policy and Capital–Based Macroeconomics: An Empirical Examination for the United States (1963–2012)

Institute Publications
This paper provides an empirical investigation of the role of monetary policy in the determination of interest rates and consumption as developed by capital-based macroeconomics

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Political Tolerance: Balancing Community and Diversity, by Robert Weissberg

Institute PublicationsJuly 1, 1999
Professor Weissberg has taken on, in exemplary fashion, one of the major myths of our age. Professor Weissberg has taken on, in exemplary fashion, one of the major myths of our age.

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To Serve and Protect: Privatization and Community in Criminal Justice by Bruce L. Benson

Institute Publications
T o Serve and Protect is a breath of fresh air in the fog of mainstream recommendations concerning security, crime, and punishment. In the mainstream literature, liberals typically regard the offender as the victim of an egoistic society and conservatives typically say that the only way to reduce...

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Review of To Serve and Protect: Privatization and Community in Criminal Justice by Bruce Benson

Institute Publications
This is the most important book on public policy to be published in a long time. Benson takes on the most pervasive government activity, the criminal justice system, and addresses the critical issue of our high crime rate. There are no clear “academic” solutions to this problem, but...

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F A Hayek

Biography of F. A. Hayek (1899-1992)

JournalsAugust 1, 2007
"A claim for equality of material position can be met only by a government with totalitarian powers." F. A. Hayek is undoubtedly the most eminent of the modern Austrian economists. Student of Friedrich von Wieser, protégé and colleague of Ludwig von Mises, and foremost representative of...

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

JournalsAugust 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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Biography of Ludwig Lachmann (1906-1990): Life and Work

JournalsAugust 1, 2007
"The theory of capital lacks a simple dimension for the measurement of its subject matter. To some minds this makes it all the more attractive." Introduction: his life and work Ludwig Lachmann was a very unusual man. If you ever met him you would never forget him. He left a lasting...

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Heterogeneous Capital: 12 November, 2012: No-More-Armistices Day, Football As Opiate, the Hair's Breadth Spectrum of "Serious" Opinion, and the Transatlantic Trail of Tears

BlogNovember 12, 2012

Anthony Gregory has a good piece on Veterans/Armistice Day.

At the end of the Korean War, President Eisenhower signed a bill in 1954 that changed the name of the national holiday to Veteran’s Day. Perhaps

...

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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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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 Return to Laisser Faire

BooksJune 5, 2009
Government means, or should mean, the right ordering of all. Modern government has degenerated into tinkering with the wants or rights or liberties of classes or sections or groups, and it is rare, in these days, to hear a political discussion which takes adequate account of the interests of the...

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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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The De Moneta of Nicholas Oresme and English Mint Documents

BooksFebruary 14, 2009
Nicole Oresme has been called the most brilliant scientist of the 14th century: mathematician, musicologist, physicist, philosopher, and economist. On top of that, he was a Bishop and a theologian. His writings of money bear much in common with Carl Menger. Oresme's treatise on money, De Moneta...

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24. Why Read Adam Smith Today?

Online Text Page from Economic Freedom and Interventionism, Ch. III. Mises As Critic

A popular legend calls Adam Smith the Father of Political Economy and his two great books—The Theory of Moral Sentiments, first published in 1759, and An Inquiry into the Nature and Causes of the Wealth of Nations, first published in 1776—epoch-making in economic history as well as in the evolution of economic thought. However, this is not quite correct. Smith did not inaugurate a new chapter in social philosophy and did not sow on land hitherto left uncultivated.

Last Knight Live Blog 24 - Kraus

BlogJanuary 28, 2008
It is said that no other book on economics has done more to advance sound economics than Human Action: A Treatise on Economics. The book is a product of many years of scholarship and reflection on purely abstract aspects of science of economics and most pressing problems confronting...

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2. The Emergence of Indirect Exchange

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

The tremendous difficulties of direct exchange can be overcome only by indirect exchange, where an individual buys a commodity in exchange, not as a consumers’ good for the direct satisfaction of his wants or for the production of a consumers’ good, but simply to exchange again for another commodity that he does desire for consumption or for production. Offhand, this might seem a clumsy and roundabout operation. Actually, it is indispensable for any economy above the barely primitive level.

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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Review of The Voluntary City: Choice, Community, and Civil Society, by David T. Beito, Peter Gordon, and Alexander Tobarrok, eds.

Institute Publications
Perhaps the best concise summary of this book is given by editor Alexander Tabarrok in his concluding chapter. As he points out, where most urbanists see market failures,

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3. Direct Effects of Intervention on Utility

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

In tracing the effects of intervention, we must explore both the direct and the indirect consequences. In the first place, intervention will have direct, immediate consequences on the utilities of those participating. On the one hand, when the society is free and there is no intervention, everyone will always act in the way that he believes will maximize his utility, i.e., will raise him to the highest possible position on his value scale.