What condition does mankind find itself in? Language, property and production are elements unique to mankind. Humans are social animals. Cooperation is normal. Language permits direct communication. Animals can’t abstract in the way humans can. They can form sounds but not words. Animals cannot make inferences explicitly. Animals do not have what we call self-consciousness (reflection).
So long as we get liberty, the name doesn't matter, writes Llewellyn H. Rockwell, Jr. But it does matter that the Bush campaign would take unto itself a term like "ownership" in an attempt to dupe people.
Gilligan's Island economics can provide useful thought experiments, writes B.K. Marcus, for the same reasons Robinson Crusoe economics has served as a staple of classical and Austrian School economics texts.
Last year, the governor of Alabama proposed and then overwhelmingly lost a bitter referendum to increase taxes and boost revenue, writes Chris Westley.
It is unlikely, argue William Anderson and Candice Jackson, that Lay is guilty of criminal activity, especially in the sales of Enron stock.
If minimum wage laws are not found to harm small businesses or lead to rising prices, Tom Lehman asks, then they must be ok?
Even if markets can somehow better anticipate the outcome, writes B.K. Marcus, prediction markets will not achieve their full potential until they incorporate the power of profit-seeking self-interest.
Presented as part of the Mises Institute’s Austrian Workshop series in Auburn, Alabama, on 29 July 2004.
Congress just passed another regulatory bill, Lew Rockwell reports, because people with food allergies are under the impression that food sellers are indifferent to whether they live or die.
Competition is a productive aspect of the market economy, writes Ninos Malek, but sometimes businesses urge the government to intervene when their competitors pose a threat. This is the driving force behind antitrust legislation.
