Democracy and Free Stuff

Democracy: the matching up of people who want free stuff with politicians who promise free stuff. Problem: free stuff as they all imagine it does not exist. However, it does exist in the market, as explained by Frédéric Bastiat in Economic Harmonies, chapter 8, "Private Property and Common Wealth." See my discussion of that chapter.

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Nation, Race, and Individual

"Nation and race do not coincide; there is no nation of pure blood. All peoples have arisen from a mixture of races.... "[T]he concept of race, in the sense in which the advocates of race policy use it, is new, even considerably newer than that of nation. It was introduced into politics in deliberate opposition to the concept of nation. The individualistic idea of the national community was to be displaced by the collectivist idea of the racial community." --Ludwig von Mises, Nation, State, and Economy, 1919

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History and Peace

"[E]very person must take his life and every nation must take its history as it comes; nothing is more useless than complaining over errors that can no longer be rectified, nothing more vain than regret. Neither as judges allotting praise and blame nor as avengers seeking out the guilty should we face the past. We seek truth, not guilt; we want to know how things came about to understand them, not to issue condemnations. Whoever approaches history the way a prosecutor approaches the documents of a criminal case—to find material for indictments—had better stay away from it. It is not the task...

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History and Conflict

"We cannot eradicate the past from our memories. But it is not the task of history to kindle new conflicts by reviving hatreds long since dead and by searching the archives for pretexts for new conflicts. We do not have to revenge crimes committed centuries ago by kings and conquerors; we have to build a new and better world order [i.e., the liberal market economy rooted in private property]." --Ludwig von Mises, Omnipotent Government, 1944

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TGIF: Government Undermines Civilization

TGIF: Government Undermines Civilization

The good, great, and prosperous society depends on ever-widening trust among strangers. It's not blind trust -- ways to hedge against cheaters abound -- but trust is vital. It is as vital as respect for private property and privacy. Like the system of private property, the system of trust can withstand repeated assaults, but it is not invulnerable. It can crumble and fall. We deal constantly with people around the world whom we do not know (we don't even know their names) and will never meet. We're better off -- richer and more comfortable -- for it. Trust is fostered through repeat...

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Economics in One Other Lesson

"The number one principle of economics...: the secret of mass consumption is mass production.... What about distribution? Here's what we know from all of human history, all of economic history. Any large increase in production is widely shared. There's no such thing as a large increase in production that only benefits a small fraction of the population. The Industrial Revolution did not just benefit factory owners. The internet did not just benefit computer programmers. Vaccines do not just benefit pharmaceutical companies.... You really should not just focus on distribution; [you should]...

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TGIF: The Economic Is Personal

TGIF: The Economic Is Personal

Contrary to accepted doctrine, we have no grounds for regarding so-called economic liberties as less important or less worthy of protection than so-called personal, or civil, liberties. That's because we have no essential grounds for distinguishing so-called economic ends from so-called personal ends. (Let's dispense with the "so-called" qualifier for the sake of fluency.) Each of us pursues ends, full stop. Our ends vary widely in content and time required for accomplishment. Some are achieved quickly; others require prolonged effort and can be called projects. Some directly involve...

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