Legal System

This free-market system encouraged just the right mix of tradition and innovation.

Genuine market economies — meaning those that maximize the long-term benefits to consumers and producers — thrive when state power is minimized. With this in mind, abolishing the FAA and firing its bureaucrats who hinder the market order would constitute a step in the right direction.

Meanwhile, such a system of "extended liability" for homeowners would have prevented the extra stress on banks caused by negative-equity defaulters. Because these people would know they are paying back the full sum either way, they would instead keep the house and pay back the (albeit, exorbitant when considering the plummeting value of their home) debt over time — perhaps while keeping their home, if they had proof of income.

Taken from Free Market Economics: A Basic Reader, compiled by Bettina Bien Greaves (pp. 227-231). Narrated by Floy Lilley.

Possibly, once the rush gets underway, the only "state" that will be left in Old America will be the District of Columbia.

Simultaneous discoveries tend to be the rule rather than the exception.

One of the most important recent advances in libertarian theory has come in the field of intellectual property. Several writers, Stephan Kinsella most notably among them, 

The oft-used cliché in response to harsh criticisms of the country or its government is "If you don't like it, you can leave." Republicans made it much more difficult for disgruntled citizens to follow this advice; it is time to repeal this profligate legislation.

In sum, the "change" that Obama promised his mesmerized supporters in the election campaign, and is now in process of actually delivering, is nothing more than change from dumb to dumber and from bad to worse.

Abstract: This paper, by the late Bruno Leoni, was originally published in the Italian journal Il Politico in 1966. In the article, Leoni reviews H.L.A. Hart’s The Concept of Law (1961). Hart first analyzes the concept of law by resorting to the classical concept of “obligation.” But he later tries a “fresh start” by resorting to the concept of “secondary rules.” In his review, Leoni argues that the former attempt is confronted with serious difficulties, and that the latter attempt (to which professor Hart possibly resorts in view of overcoming some of said difficulties) is ultimately inconsistent with the former.