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What John Stuart Mill rejected in attempting to redesign society according to this shaky premise of “social utility” was the older tradition upon which the great achievements of winning liberty was based in the eighteenth and early nineteenth centuries, the tradition of “natural rights.”
“Contrary to conventional wisdom, the alternative to state regulation is not a regulatory void, but a range of voluntary arrangements.”
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.
For the Founding Fathers, economic liberty was inseparable from the case for political freedom.
Winston Churchill once described Russia as a mystery wrapped in an enigma. The election of Vladimir Putin as Russia’s new president for the next five years has in no way diminished this imagery. Groomed in the ranks of the KGB, the Soviet secret police, Putin has...
The revival of Austrian economics during the last 20 years is largely due to the original and numerous contributions of Israel M. Kirzner. Kirzner studied with Ludwig von Mises at New York University starting in the mid 1950s. He recounts in a recent issue of the...
How Nations Grow Rich: The Case for Free Trade by Melvyn Krauss presents the basic principles for a policy of free trade and refutes many of the contemporary arguments for protectionism.
We continue to trade away the modem ideal of individual liberty for the ancient ideal of collective tyranny.
Why is it that an apologist for slavery like George Fitzhugh and a descendant of slaves like Jesse Jackson both abhor the market economy?
The Russian people do have a chance and a future — once Communism is finally relegated to the “dustbin of history.”
China’s turmoil and tragedy are almost certainly far from over.
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.
Having forcefully hailed the demise of socialism abroad, the President’s message was that America’s greatness would be assured by more, or at least continued, socialism at home.
And now at the end of the 20th century, when the world is turning away from socialism and the idea of government planning, has the United States even suggested the privatization of one of its largest socialist enterprises? No. Instead, the U.S. government will completely transfer state ownership of the canal to the Panamanian government in the year 2000. Such is the conduct of the global bulwark of capitalism.
Illegal drug dealing is a government-protected monopoly, and this is the real source behind America’s drug problem.
Brazil is a vast country, larger than the continental United States. It is rich in resources and human talent (like America, Brazil is a land of immigrants of various backgrounds and nationalities). If left free and unshackled from government intrusion it could easily become an economic giant in the span of one generation.
Money must be separated from the State.
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