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There are those who create and those who destroy, and all of history is simply interplay between those two opposite directions with respect to property. One direction adds to property, and the other direction subtracts from property; one is positive, … More

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Any person or organization that sells products or services to protect property, to which the owner of the property may voluntarily subscribe.

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Good, absolute

A subjective good to at least one person which is not imposed on any other volitional being. The absoluteness is in the fact that, independently of who defines the good, coercion is absent on a universal basis.

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The subjective evaluation of a preferred action, or a preferred transition from one state to another.

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An assigned meaning that is attributed to a word or a phrase or a concept, from which you never deviate.

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Crime is a successful, intentional interference with the property of another. In other words, it is an act of successful coercion.

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A corollary is the restatement of information you already know into other words for a utilitarian reason.

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The ability to make volitional decisions concerning the disposition of property.

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A voluntary agreement between two or more people who have property which they are desirous of exchanging the use and control thereof.

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The tendency to preserve what is established. According to Galambos, “Conservatives run all countries; they’re conserving the state.”

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Coercion is an attempted, intentional interference with property.

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Production of property in excess of consumption requirements and also used for further production.

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Any legal organization that controls the property of individuals without their consent.

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Moral power.

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Action (negative and positive)

Action, negative: Volitional behavior that is patterned upon opposition to someone else’s products or behavior. Action, positive: Volitional behavior that is initiating the generation of new property. Only positive action can produce something useful.

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Independent of arbitrary standards of determination.

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Liber = free, al = pertaining to. Therefore “liberal” means pertaining to freedom.

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Capitalism is that societal structure whose mechanism is capable of protecting all forms of private property completely.

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Property is an individual’s life and all non-procreative derivatives of his life, including thoughts and ideas. NOTE: For an expanded definition of property see Chapter 5, text accompanying note 1.

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Freedom is the societal condition that exists when every individual has full (i.e. 100%) control over his or her own property.

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