The question has come up about the economic fallacies buried in the Parker Bros. game “Monopoly”, and it got me thinking. How about a “Territorial Monopoly of Protection” game? Everywhere you land on the board, you go to jail, pay a fine, get regulated, conscripted, or lectured by minions of the state. Your only way to “win” is to land on the
For those whose interest in Ricardo has been stimulated by the ongoing trade discussion, Murray Rothbard discusses this on pp. 94-99 of Classical Economics: An Austrian Perspective on the History of Economic Thought, vol. II (Cheltenham, UK: Edward Elgar, 1995), arguing on the basis of new research by William O. Thweat, that Ricardo made no real
In light of MNR’s article , the question has come up about more references to the repudiation that followed Reconstruction in the South. John Tice Moore, “Redeemers Reconsidered: Change and Continuity in the Democratic South,” in C. Vann Woodward: A Southern Historian and His Critics , ed. J. H. Roper (Athens: University of Georgia Press, 1997),
“Britain began to prohibit or seriously tax French wine imports in the late 1600s, allowing local beverage makers to earn enormous rents. Moreover, British investments in Portugal formed another interest group that benefited from protection by switching to wine production. The British had long tried to develop a wine industry in Portugal to serve
The Free Market 24, no. 7 (July 2004) T he Ludwig von Mises Institute has published a new edition of Murray N. Rothbard’s Man, Economy, and State , and united this great treatise with Power and Market , which was originally written as the final section of the book but was published only eight years later. Rectifying that publisher mistake of 40
In the December 27 th Wall Street Journal online, Economics Nobel laureate Vernon L. Smith lays out a program to jumpstart the Iraqi economy and give Iraq a set of institutions fitted to the needs of a free and prosperous commonwealth. He spies “a historic opportunity” for W “to craft a new geopolitical-economic paradigm that could—and
The Ludwig von Mises Institute has published a new edition of Murray N. Rothbard’s Man, Economy, and State , and united this great treatise with Power and Market , which was originally written as the final section of the book but was published only eight years later. (Buy it here ; see full text here ) Rectifying that publisher mistake of 40
For all the talk about the triumph of capitalism, it seems that the free market—the real thing and not someone’s imagined conception of it—has very few friends in politics or the world of ideas. Thus do the writings Murray Rothbard, the leading defender of the market economy of his generation, still have the power to shock and clarify the
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.