New second edition with new intro by Hans Hoppe
Here is Hans Hoppe's first treatise in English - actually his first book in English - and the one that put him on the map as a social thinker and economist to watch. He argued that there are only two possible archetypes in economic affairs: socialism and capitalism. All systems are combinations of those two types. The capitalist model he defines as pure protection of private property, free association, and exchange - no exceptions. All deviations from that ideal are species of socialism, with public ownership and interference with trade. Within the structure of socialism, he distinguishes the left and right version. "Conservative" socialism favors high regulation, behavioral controls, protectionism, and nationalism. The "liberal" version tends more toward outright public ownership and redistribution. The consequences of socialism vary based on their degree and kind, but they have similarities: high costs, resource waste, low growth.
This treatise has long been out of print, but is now available again for use in comparative-systems classes, and for an orientation to the theory of economic systems. The theoretical apparatus is Rothbardian to the core, and its main contribution is to provide an organizing principle for understanding the structure of real-world economies as measured against pure types. A tour de force. This edition preserves the formatting from the original publisher, for reasons of citation. Though it was published by a major academic publishing house, the visuals are not what they might have been. Nonetheless, the book is well cited, and this edition makes it possible to navigate those citations.
©2010 Ludwig von Mises Institute (P)2019 Ludwig von Mises Institute
Talk about great timing. Rothbard's extraordinary book unravels the mystery of banking: What is legitimate enterprise and what is a government-backed shell game that can't last? His explanation is clear enough for anyone to follow and yet precise and rigorous enough to be the best textbook for college classes on the topic. This is because its expository clarity - in its history and theory - is essentially unrivaled. Most notably, he uses the T-account method of explaining the relationship between deposits and loans, showing the inherent instability of fractional reserve banking and how it sets the stage for centralization, inflation, and the boom-bust cycle. But there is more here. It is an explanation of money's origins and its meaning in the free market. The abstract theory is here but always with real application in history and in modern banking practice. Never does a paragraph go by without an example drawn from his massive knowledge of the subject. Even further, he explains the integration between microeconomics and the business cycle. As Douglas French writes in the introduction: "Although first published 25 years ago, Murray Rothbard's The Mystery of Banking continues to be the only book that clearly and concisely explains the modern fractional reserve banking system, its origins, and its devastating effects on the lives of every man, woman, and child. It is especially appropriate in a year that will see: a surge in bank failures, central banks around the globe bailing out failed commercial and investment banks, double-digit inflation rates in many parts of the world and hyperinflation completely destroying Zimbabwe's economy, that a new edition of Rothbard's classic work be published and made available through the efforts of Lew Rockwell and the staff at the Ludwig von Mises Institute. Priced affordably for students and laymen interested in the vagaries of banking and how inflation and business cycles are created."
©1983, 2008 Ludwig von Mises Institute (P)2016 Ludwig von Mises Instiutute
Mises wrote this book for the ages, and it remains the most spirited, thorough, and scientifically rigorous treatise on money ever to appear. It made his reputation across Europe and established him as the most important economist of his age. This Mises Institute edition is the first English edition, and it comes complete with an explanatory foreword by Murray Rothbard and a preface by Douglas French. This classic treatise was the first really great integration of microeconomics and macroeconomics, and it remains the definitive book on the foundations of monetary theory. As Rothbard points out in his introduction to "the best book on money ever written," economists have yet to absorb all its lessons. Mises shows that money had its origin in the market, and that its value is based on its usefulness as a commodity in exchange. Step by step, Mises presents the case for sound money without inflation and presents the beginnings of a full-scale business-cycle theory. This edition includes Mises' early blueprint, improved later in life, for a return to a fully backed gold standard and competitive banking.
©2009 Ludwig von Mises Institute (P)2017 Luwig von Mises Institute
Four years after he outlined the challenges our increasingly interdependent world was facing in Globalization and Its Discontents, Joseph E. Stiglitz offered his agenda for reform. Now in audiobook, Making Globalization Work offers inventive solutions to a host of problems, including the indebtedness of developing countries, international fiscal instability, and worldwide pollution. Stiglitz also argues for the reform of global financial institutions, trade agreements, and intellectual property laws, to make them better able to respond to the growing disparity between the richest and poorest countries. Now more than ever before, globalization has gathered the peoples of the world into one community, bringing with it a need to think and act globally. This trenchant, intellectually powerful book is an invaluable step in that process.
©2007, 2006 Joseph E. Stiglitz (P)2013 Audible, Inc.
Learn About the Issues Associated with American Race Relations in a Fraction of the Time! It is clear that many of the things the author talks about in this book are things that most black people would be afraid to talk about in America. However, these are issues that all Americans must have an understanding of. There are many other books that talk about what racial relations in America are like today, but they do not reflect on the long history of racial relations in America. The author brings new insight into the way America was built. It is clear that America has tried to rewrite its history so that people are not aware of all the horrible acts that took place. From the time the author was a child, he asked himself many questions and he read many books to find answers to these questions, because the people around him did not seem to have a clear understanding. This is a book that all Americans should listen to. Many white Americans clearly do not want to deal with or face these issues, but this is very necessary in creating a future America that consists of unity and equality. It is important that the author's views on how to make a positive change are understood by American society. Here is a preview of what you'll learn: How Coates educated himself about the real history of America while attending Howard University The reason why Coates believes most black people in America live in fear Learn how Coates teaches his son about the world we live in
©2015 Summary Station (P)2016 Summary Station
The Mises Institute is pleased to introduce Walter Block's remarkable new treatise on private roads that'll cause you to rethink the whole of the way modern transportation networks operate. It's bold, innovative, radical, and compelling and shows how free-market economic theory is the clarifying lens through which to see the failures of the state and see the alternative that's consistent with human liberty. He shows that even the worst off-the-cuff scenario of life under private ownership of roads would be fantastic by comparison to the existing reality of government ownership of roads, which is awful in ways we don't entirely realize until Block fully explains them (think: highway deaths). But that's only the beginning of what Professor Block has done. He has made a lengthy, detailed, and positive case that the privatization of roads would be socially optimal in every way. It would save lives, curtail pollution, save us (as individuals!) money, save us massive time, introduce accountability, and make transportation a pleasure instead of a huge pain in the neck. Because this is the first-ever complete book on this topic, the length and detail are absolutely necessary. He shows that this isn't some libertarian pipe dream but the most practical application of free-market logic. Block is dealing with something that confronts us every day. And in so doing, he illustrates the power of economic theory to take an existing set of facts and help see them in a completely different way. What's also nice is that the prose has great passion about it, despite its scholarly detail. Block loves answering the objections (aren't roads public goods? Aren't roads too expensive to build privately?) and making the case, fully aware that he has to overcome a deep and persistent bias in favor of public ownership.
©2009 Ludwig von Mises Institute (P)2015 Ludwig von Mises Institute
The incredible story of a flood of near-Biblical proportions - its destruction, its heroes and victims, and how it shaped Americas natural-disaster policies for the next century. The storm began March 23, 1913, with a series of tornadoes that killed 150 people and injured 400. Then the freezing rains started and the flooding began. It continued for days. Some people drowned in their attics, others on the roads when they tried to flee. It was the nations most widespread flood ever - more than 700 people died, hundreds of thousands of homes and buildings were destroyed, and millions were left homeless. The destruction extended far beyond the Ohio valley to Illinois, Indiana, Michigan, Nebraska, Pennsylvania, Tennessee, Arkansas, Louisiana, Kentucky, West Virginia, New York, New Jersey, and Vermont. Fourteen states in all, and every major and minor river east of the Mississippi. In the aftermath, flaws in Americas natural disaster response system were exposed, echoing todays outrage over Katrina. People demanded change. Laws were passed, and dams were built. Teams of experts vowed to develop flood control techniques for the region and stop flooding for good. So far those efforts have succeeded. It is estimated that in the Miami Valley alone, nearly 2,000 floods have been prevented, and the same methods have been used as a model for flood control nationwide and around the world.
©2013 Geoff Williams (P)2013 Audible, Inc.
Hans-Hermann Hoppe, a standout pupil of Murray Rothbard and now the foremost Austrian social theorist, is no stranger to seemingly insurmountable theoretical problems. In work after work, Hoppe has made remarkably pioneering insights into social order and the free market. In The Private Production of Defense, Hoppe takes on one the most difficult subjects in economic and political theory: the provision of security. Addressing those who would claim that only the state can and should supply society with the service of protection, Hoppe argues that in fact it is better provided by free markets than government. In the process he tackles a hundred counterarguments. Here we have an important and exhilarating update and refinement of an argument rarely made even in the libertarian tradition. And the stakes are high for us. As Hoppe states, "Without the erroneous public perception and judgment of the state as just and necessary and without the public's voluntary cooperation, even the seemingly most powerful government would implode and its powers evaporate. Thus liberated, we would regain our right to self-defense and be able to turn to freed and unregulated insurance agencies for efficient professional assistance in all matters of protection and conflict resolution". To search for Mises Institute titles, enter a keyword and LvMI (short for Ludwig von Mises Institute); e.g., Depression LvMI.
©2011 Ludwig von Mises Institute (P)2019 Ludwig von Mises Institute
Vishen Lakhiani is the author of The Code of the Extraordinary Mind. This book is classified as a self-help book and it was written for people who would like to change their lives from a way of living that is on autopilot into a way of conscious living which will bring extraordinary experiences and results. The author of this book is also the founder of a company called Mindvalley. Mindvalley is an educational company that places a focus on self-help and personal growth. There are a wide range of interesting people involved with this company such as spiritual teachers, media giants, and corporate leaders. The author of this book lists one of his key skills as the ability to take something apart and put it back together in a way that makes it better than its original form. Many people refer to this ability as hacking. Vishen has applied this hacking ability to self-help and personal development in a way that no one else has done before. He takes the teachings that he has learned throughout his lifetime and alters them in a way that allows him to present the world with something unique and special. Limiting beliefs are experienced by many people and they are one of the greatest deterrents to personal growth. Vishen has made it a goal in his life to help people eliminate their limiting beliefs. This goal is achieved through a process of helping others become conscious of what they really desire in life so that they will be able to recognize their calling and act on it in a way that will benefit the entire world. This is a summary and analysis of the book and not the original book.
©2016 Better Business Summaries (P)2016 Better Business Summaries