Ludwig von Mises’s majestic magnum opus, Human Action: A Treatise on Economics, was published on September 14, 1949. In the nearly seven decades since its appearance, Human Action has come to be recognized as one of the truly great classics of modern economics.
Some 95% of my students report that “Atlas Shrugged” is the best book they’ve ever read. No book that I’ve taught comes remotely close to fostering a more robust exchange of ideas in the classroom.
The heart of Professor Kirzner’s argument is that every discovery of a new opportunity is the appropriation of that which had not existed before a human mind had seen the potential in that object. And, hence, the profit earned by bringing that opportunity into existence justly belongs to the creator and discoverer.
Ayn Rand is not going to go away, and neither are her millions of admirers nor the increasing number of scholars now seriously investigating her work. To your readers I respectfully suggest: take a look for yourself. Your youthful admiration for Rand tapped into something good in your soul. It’s time to re-explore — on your own — both that spirit in yourself, and the voice that was given to that spirit by this immensely rich and rewarding author.
Sometimes creative understanding and interpretation of the present and the past can offer insightful suggestions about possible developments in the future.
Professor Williams demonstrates is that apartheid is not an example of capitalism but something much more akin to a mercantilist-interventionist state, in which government bestows privileges, favors, and monopoly positions on a select group at the expense of others in the society.