Twenty-first-century socialism, which has been so popular in Latin America for many years, has failed in a way that mirrors the failure of twentieth-century socialism in other parts of the world.
Raico stresses that there was another tradition within classical-liberal thought, one that recognized the interdependence between religion and liberty.
The best way to think about tradition is to view it like capital accumulation. Knowledge is accumulated through countless centuries of trial and error. The state seeks to destroy historical consciousness and old ways of life to secure power.
Europe needs more than ever the principles that made it successful: decentralization, free trade, and sound markets.
The fact that Yalta can now clearly be seen to have been a betrayal is another reason to be wary when pundits and talk show hosts jump on the bandwagon for the next killing spree abroad
Far from being a tool of "exploitation," industrialization and free trade are proven strategies to bring higher standards of living to the developing world.
The best way to think about tradition is to view it like capital accumulation. Knowledge is accumulated through countless centuries of trial and error. The state seeks to destroy historical consciousness and old ways of life to secure power.
The West did not need resources from "Third World" colonies to attain economic development. In fact, colonialism was a result of the West's development, and not its cause.
It is ideas that determine what people consider as their interests. Free men do not act in accordance with their interests. They act in accordance with what they believe furthers their interests.
It is theoretically conceivable but scarcely likely that the ruling class will rush to embrace a philosophy and a political economy that will end their power and put them, in effect, out of business.
