Capitalism

Crack-Up Capitalism will be of interest to many readers of The Austrian because of what it says about Murray Rothbard; and for th

In his new book, 'Crack-up Capitalism,' Quinn Slobodian sloppily attacks Rothbard's views on market freedom. But in his efforts to attack Rothbard generally, Slobodian also gets Rothbard wrong on slavery, on Indians, on war crimes, and more. 

The state is held together by violence and nothing else. There is no such thing as "the social contract." But even violence cannot make a state last past its time, as we saw with the USSR.

Economists and political elites fondly claim that economic growth is due to increased technological knowledge. That is only partly true.

China rose from poverty after the Mao years only because its political leadership embraced private property and a market economy. Unfortunately, today the Communist leadership is moving back to socialism.

In order for nations to have capital development and market-based economies, they must have a cultural framework that accepts these developments. Too many nations do not, and they languish in poverty as a result.

Although most of Europe has long forgotten Misesian thinking, Prince Michael of Liechtenstein is an exception.

Whether political elites promote outright socialism or interventionism, they are advocating a failed economy.

In order for nations to have capital development and market-based economies, they must have a cultural framework that accepts these developments. Too many nations do not, and they languish in poverty as a result.

While Japan made some technological transfers to these places, prosperity came to them later, with the advent of free-market economies.