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Tag Archives: Featured

Karl Marx and Marxism at Two Hundred

Reprinted from FEE.org A specter continues to haunt the world, the specter of Karl Marx. Two hundred years ago, on May 5, 1818, the father of 20th-century totalitarian communism, the guidebook-writer of revolutionary mass-murdering dictatorship, and the inspirer of disastrous socialist central planning was born in Trier, Germany. Looking over the political and economic landscape of what Karl Marx’s ideas wrought, over especially the last one hundred years, one might think that his name and...

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Government Workers Don’t Magically Become Altruists

Reprinted from Mises.org [Unequivocal Justice. By Christopher Freiman. Routledge, 2017. Ix + 157 pages.] Christopher Freiman has in this brilliant book uncovered a flaw at the heart of much contemporary political philosophy, especially the sort of ideal theory influenced by John Rawls. Freiman wishes “to examine the version of ideal theory that focuses on institutions. More specifically, I’ll investigate the idealizing assumption that institutions function under conditions that exhibit...

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How the White House Hijacked the Ability to Declare War

Originally published July 7, 2005 on ​LewRockwell.com. Reprinted from Mises.org We are long past the point at which constitutional arguments have much hope of restraining the American political class, either at home or abroad. They are still worth making, though, since they serve to show the two major parties’ contempt for American law and tradition. Ever since the Korean War, Article II, Section 2 of the Constitution — which refers to the president as the “Commander in Chief of the...

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Liberty and Property: the Levellers and Locke

[Excerpted from An Austrian Perspective on the History of Economic Thought, vol. 1, Economic Thought Before Adam Smith.] Reprinted from Mises.org  The turmoil of the English Civil War in the 1640s and 1650s generated political and institutional upheaval, and stimulated radical thinking about politics. Since the Civil War was fought over religion and politics, much of the new thinking was grounded in, or inspired by, religious principles and visions. Thus, as we shall see further in the...

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Consumer Sovereignty: What Mises Meant

[Originally published November 11, 2003.] Reprinted from Mises.org The modern Austrian School of economics, as descended from the authoritative work of Ludwig von Mises, stresses the primacy of consumer preferences in the determination of precisely which kinds of goods will be produced with society’s scarce resources. Mises himself adopted the term (popularized by W.H. Hutt) “consumer sovereignty” to describe this state of affairs. Subsequent Austrians, in particular Murray...

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Argentina Has a Chronic Problem with Monetary-Policy Failure

Reprinted from Mises.org Argentina suffered yet another so-called “currency crisis” last week. On Thursday and Friday the Argentine peso (ARS) depreciated 9% against the U.S. dollar (USD), falling from roughly 20.50 ARS per USD to 22.25 per USD. To stem the slide of the peso, Argentina’s central bank increased its target interest rate (the 7-day repo reference rate) from 30.5% to 40% over the course of two consecutive days. This came on the heels of a rate boost of 3-percentage points the...

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Freedom, Inequality, Primitivism, and the Division of Labor

[This essay was written in 1970. Read Rothbard’s 1991 introduction.] Reprinted from Mises.org I. If men were like ants, there would be no interest in human freedom. If individual men, like ants, were uniform, interchangeable, devoid of specific personality traits of their own, then who would care whether they were free or not? Who, indeed, would care if they lived or died? The glory of the human race is the uniqueness of each individual, the fact that every person, though similar in...

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Money-Supply Growth Rebounds to 10-Month High

In March, growth in the supply of US dollars increased at the highest rate seen in ten months. This comes after a year-long period of falling growth rates, at the end of which money-supply growth fell to a near-ten-year low of 2.6 percent, year over year. By March of this year, however, growth rates had headed upward again, rising to a year-over-year growth rate of 5.1 percent. The money-supply metric used here — an “Austrian money supply” measure — is the metric developed...

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The Group vs. the Collective

[Excerpt from Epistemological Problems of Economics, chap. 1] Reprinted from Mises.org The reproach of individualism is commonly leveled against economics on the basis of an alleged irreconcilable conflict between the interests of society and those of the individual. Classical and subjectivist economics, it is said, give an undue priority to the interests of the individual over those of society and generally contend, in conscious denial of the facts, that a harmony of interests prevails...

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The True Founders of Economics: The School of Salamanca

[Originally published as Free Market Economists: 400 Years Ago in The Freeman, September, 1995] Reprinted from Mises.org Students of free enterprise usually trace the origins of pro-market thinking to Scottish professor Adam Smith (1723-90). This tendency to see Smith as the fountainhead of economics is reinforced among Americans because his famed book An Inquiry into the Nature and the Causes of the Wealth of Nation was published the year of American independence from Britain. There is much...

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