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

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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Political Tolerance: Balancing Community and Diversity, by Robert Weissberg

July 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

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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qjae2_4_7.pdf

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

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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14_2_5.pdf

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Community Norms for Punishment and Restitution

March 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.

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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qjae7_2_6.pdf

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

August 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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F A Hayek

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

August 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 Ludwig Lachmann (1906-1990): Life and Work

August 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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The Moral Case for the Free Market Economy

July 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

March 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

June 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

July 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

February 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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Greek Government Ratchets Up Mad Search for Cash

BlogMarch 19, 2015

To pay its debts, Greek government, "busy thinking of new ways to raid its own population."

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15. Business Fluctuations

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

In the real world, there will be continual changes in the pattern of economic activity, changes resulting from shifts in the tastes and demands of consumers, in resources available, technological knowledge, etc. That prices and outputs fluctuate, therefore, is to be expected, and absence of fluctuation would be unusual. Particular prices and outputs will change under the impact of shifts in demand and production conditions; the general level of production will change according to individual time preferences.

7. Binary Intervention: The Government Budget

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

Binary intervention occurs, we have seen, when the intervener forces someone to transfer property to him. All government rests on the coerced levy of taxation, which is therefore a prime example of binary intervention. Government intervention, consequently, is not only triangular, like price control; it may also be binary, like taxation, and is therefore imbedded into the very nature of government and governmental activity.

2. Implicit Moralizing: The Failures of Welfare Economics

Online Text Page from Power and Market: Government and the Economy, Ch. 7. Conclusion: Economics and Public Policy

As we have reiterated, economics cannot by itself establish ethical judgments, and it can and should be developed in a Wertfrei manner. This is true whether we adopt the modern disjunction between fact and value, or whether we adhere to the classical philosophical tradition that there can be a “science of ethics.” For even if there can be, economics may not by itself establish it.

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.

5. Cost

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

At this point, let us reintroduce the concept of “cost” into the analysis. We have seen above that the cost, or “marginal” cost, of any decision is the next highest utility that must be forgone because of the decision.