Mises Wire

Despite the problems that bedevil comprehensive political plans, there is one central plan that can benefit all members of a society (except for predators on others) -- the joint protection of everyone’s private property. As Locke pointed out, and many of America’s founders echoed, that is the only thing government’s coercive power can do that can make all citizens better off.

In other words, “don’t ever violate others’ rights” is adequately comprehensive for extensive, successful social cooperation. But it is comprehensive only in spelling out what no one can do to others without their consent. It imposes no limits on what individuals can create voluntarily with and for others, a far cry from the political delineation and delegation of privileges to some and duties to others. And it is far superior in both ethical and economic terms to legislation or regulations that are supposedly comprehensive, yet routinely violate citizens’ rights.

In certain contexts, an animal can be of little use or a nuisance, as in the case of a lion or elephant running unrestrained. On the other hand, the private market has done a lot of good work in providing more sanctuary for animals through private sector eco-tourism by placing animals into situations where they are valuable rather than destructive.

Chris Christie, who unbeknownst to virtually everyone is running for President, has announced that, if he becomes president, he will make sure that

Eric Peters reminds us of why customers don’t have a choice when

Jeff and Bob discuss his new book, Choice: Cooperation, Enterprise, and Human Action, Bob's new opportunity at Texas Tech University, and all things Bob Murphy.

Valiant Hearts is the rare game that combines engaging gameplay with a compelling narrative and a strongly anti-war message.

Europe and America did not cause the plight of the underdeveloped nations, but they have prolonged its duration by implanting in their intellectuals the ideologies which are the most serious obstacle to any improvement of conditions. The socialists and interventionists of the West have poisoned the mind of the East. 

The academic publishing house Taylor & Francis (a part of Routledge) is highlighting a number of 

Full-on anti-capitalism is again fashionable. The supporters of the latest surge in socialist sympathy relies on the idea that socialism can better deliver a decent standard of living. But without functioning markets, such a goal will prove impossible.

For starters, consider that personal and business reputations might well become even more important in a more libertarian society. Our reflexive aversion to cheats, liars, and secrecy is very much in accord with human nature, and there’s every reason to believe a private legal system would reflect this. In an uncertain world of scarce resources, a lack of trustworthiness in others creates huge transaction costs. This is especially true of our interactions with strangers, where we’re forced to create elaborate legal contracts before doing business-- a handshake no longer suffices.