Blog Archives

Would there be anarchy without the state to enforce law and order? No, anarchy is always a transitory condition because security is absolutely essential to human beings.—Andrew J. Galambos More →

“The crash of 1929 and the Great Depression . . . clearly demonstrate how radical government intervention [in economic life] can generate a severe depression.”–Hans F. Sennholz  SYNOPSIS In the 1930s America commenced a fundamental change–from a country of largely … More →

“Monopoly means single source of supply. Monopoly is completely harmless unless it is coercive.”–Andrew J. Galambos SYNOPSIS This chapter examines the adverse consequences of state intervention in business competition. The English word monopoly denotes a single source of supply. The … More →

Introduction The subject of prices has engendered a vast economic literature of theory and opinion as well as conflicts of vision about the way society should operate. Beginning around the time the United States came into existence with the American … More →

“Capitalism has raised in an unprecedented way the average standard of living.  Nonetheless, many people passionately loathe capitalism.”—Ludwig von Mises “In capitalism, man exploits man. In socialism, it’s the other way around.”—Twentieth century aphorism in socialist countries of Eastern Europe … More →

SYNOPSIS and INTRODUCTION The image portrayed of capitalism and capitalists in American media is consistently and overwhelmingly negative. The discussion here is confined to American media. However, there is little reason to believe that a more favorable image of capitalism … More →

“A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.”—George Bernard Shaw SYNOPSIS The United States of America and the individual states finance their operations by stealing. The theft is called … More →

 “If something is permitted by the laws of physics, then the only thing that can prevent it from being technologically possible is not knowing how.”—David Deutsch “That is impossible which would violate a law of nature.”—Andrew J. Galambos

“Money would be better supplied by competition among private issuers than by a monopoly of government.”—Arthur Seldon More →

“Elinor Ostrom has challenged the conventional wisdom that common property is poorly managed and should be either regulated by central authorities or privatized . . . She observes that resource users frequently develop sophisticated mechanisms for decision-making and rule enforcement to handle conflicts of interest . . .” More →

“Credit is like a looking-glass, which when once sullied by a breath may be wiped clear again, but if once cracked can never be repaired.”—Sir Walter Scott More →

“He who sacrifices freedom for security deserves neither”—Benjamin Franklin

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“War is politics carried on by other means, to compel our adversaries to submit to our will.”—Carl von Clausewitz More →

“An ounce of prevention is worth a pound of cure.”–Benjamin Franklin
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“Justice is the elimination of injustice. Injustice is a crime to which no recourse exists, that is a crime for which there has been no restitution of property.”—Andrew J. Galambos More →

“I have never let my schooling interfere with my education.”—Mark Twain

“[Civilization] . . . gets started with developments of a creative sort—innovation of products.”—Andrew J. Galambos

“A government in which the majority rule in all cases cannot be based on justice. . . That Government is best which governs not at all; and when men are prepared for it, that will be the kind of government … More →

“We shall need a new manner of thinking if mankind is to survive.”–Albert Einstein