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This masterpiece of Nobel Prize laureate Friedrich Hayek is an eye-opener, strongly advocating the free market principles. In this all-time classic Hayek persuasively warns against the authoritarian utopias of central planning and the welfare state. Fascism, communism and socialism share these utopias. For the implementation of their plans these authoritarian ideologies require government power over the individual, inevitably leading to a totalitarian state.

Every step away from the free market toward planning reduces people's freedom and is a step toward tyranny. Planning also cannot assess consumer preferences with sufficient accuracy to efficiently co-ordinate production. In a free market "Price" is the all-inclusive source of information, guiding entrepreneurs to produce whatever is wanted and directing workers wherever they are most needed. Free markets also provide the entrepreneurial climate for a thriving economy and for releasing the creative energy of its citizens. Free individuals in their native endeavour to develop their talents and their eternal pursuit of better living conditions produce spontaneous progress. All public interference in the economic process disturbs the market equilibrium, distorts the optimal allocation of resources and consequently reduces the level of wealth.

Where planning replaces free markets people do not only loose their freedom and individuality. Resulting slow growth also increases welfare demands causing dependence similar to slavery. In the end people's self-reliance and self-respect is ruined, and citizens are degraded to a means to serve the ends of the collective mass.   Der Weg zur Knechtschaft (Audio 1)   (Audio 2)     Audio from The Heritage Foundation 

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What Has Government Done to Our Money? 
Murray Rothbard 

After presenting the basics of money and banking theory, Rothbard traces the decline of the dollar from the 18th century to the present, and provides lucid critiques of central banking, New Deal monetary policy, Nixonian fiat money, and fixed exchange rates. He also provides a blueprint for a return to a 100 percent reserve gold standard. 

The book made huge theoretical advances. He was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed. But just as importantly, it is beautifully written. He tells a thrilling story because he loves the subject so much. The passion that Murray feels for the topic comes through in the prose and transfers to the reader. Readers become excited about the subject, and tell others.  Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved.  Download as PDF    Nederlandse PDF Versie: Wat heeft de overheid met ons geld gedaan?
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This primer on economic principles brilliantly analyzes the seen and unseen consequences of political and economic actions. In the words of F.A. Hayek, there is "no other modern book from which the intelligent layman can learn so much about the basic truths of economics in so short a time.
Nobel Prize laureate Milton Friedman  discusses Big Government, Minimum Wages, High Taxes, Trade Unions,  Public Squander, Big Brother, Subsidies and other means of destroying our Economy.  All the Basics of Economics in this exceptional 28 minutes YouTube Video. Minton-friedman
Written in 1940 as part of his trilogy on economic systems, Ludwig von Mises foresaw that planned economies would fail.  He warns that all forms of government intervention in business create artificial scarcity, inflation, and price and market distortions, give rise to economic stagnation and ultimately political instability. He prooves that even mixed systemes through price control, credit expansion, subsidies, welfare, corporatism create scarcity and political instability. Particularly interesting is Mises insight into the political consequences resulting from state regulation of the market place.

Money, Bank Credit, And Economic Cycles,
Jesús Huerta De Soto

A complete comprehensive treatise on economic theory. The most significant work on money and banking to appear since 1912, when Mises's own book was published and changed the way all economists thought about the subject. Its five main contributions:

1. The legal framework for money and banking, from the ancient world to modern times,
2. Microeconomic & macroeconomic phenomena in Modern Banking,
3. the critique of fractional-reserve banking:  history, theory, and policy,
4. the Austrian critique of socialism to central banking,
5. a comprehensive look at the banking enterprise & market-based entrepreneurship.
                    Download as PDF            Hayek lecture           

Ludwig Von Mises: A Bundle of six short Essays. (22 pages).

In his usual easy-to-read style, Von Mises explains the very basics of sound economics. The first essay vindicates the role of capital goods and saving. Mises explains how saving inaugurates a process toward prosperity. By consuming less than they produce, savers furnish resources for investment in machines and tools which make the laborers' efforts more efficient. Higher output per unit of input can so be achieved. The productivity gain of such investment allows for non-inflationary wage increases which is the sole road to real progress and prosperty for all. Public policy should therefor favour saving and investment, rather than stimulate growht through inflationary easy money policies.

In the second essay "The Individual in Society" Mises pleads for a free market economy based on division of labour and strong property rights as the sole guarantee of liberty. For Mises, government intervention implies compulsion, exactly the opposite of liberty. In a market economy individuals are the supreme arbiters in matters of their needs, both material and spiritual. They alone decide what is more and what is less valuable. Central planning is unable to assess the individual's priorities so that planners permanently make wrong choices lessening consumer value and satisfaction. The government apparatus of coercion is not only costly and inefficient. Many also consider state compulsion as unbearable. Other excellent essays in this bundle: 
 The Economics and Politics Of My JobThe Elite Under Capitalism,
 Facts about the Industrial Revolution  and   The Gold Problem.

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Our Enemy The State   by  Albert J.Nock. 

Just as the State has no money of its own, it has no power of its own. All the power and money it has is what society gives it, plus what it confiscates from time to time on one pretext or another. For Nock, "government" and "the state" are two different things. "Government" is a legitimate, impartial vehicle for the administration of justice, safeguarding life and liberty, and the pursuit of happiness. By contrast, "the state" represents a corruption of democracy in which special interests groups use the coercive power of government in order to extract concessions and advantages not available to other citizens.  Ultimately, "the state" becomes an instrument of oppression, allowing those special interests to compel the rest of society to behave in ways they would not otherwise do. In doing so the state becomes a tool in the exploitation of the class of tax-payers by the class of tax eaters.  read more here   or here  


Since it first appeared in 1963, it has been the definitive treatment of the causes of the depression. The book remains canonical today because the debate is still very alive. Rothbard opens with a theoretical treatment of business cycle theory, showing how an expansive monetary policy generates imbalances between investment and consumption. He proceeds to examine the Fed's policies of the 1920s, demonstrating that it was quite inflationary even if the effects did not show up in the price of goods and services. He showed that the stock market correction was merely one symptom of the investment boom that led inevitably to a bust.  The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which in turn was generated by government intervention in the economy. Had the book appeared in the 1940s, it might have spared the world much grief. Even so, its appearance in 1963 meant that free-market advocates had their first full-scale treatment of this crucial subject. The damage to the intellectual world inflicted by Keynesian- and socialist-style treatments would be limited from that day forward.       Free pdf Download here

In this short paper, first published in 1976, Nobel Laureate Friedrich von Hayek suggests that inflation can be stopped by introducing competition in currency. The notion that it is a proper function of government to issue the national currency is false. Citizens should be free to use and refuse any currencies they wish: politicians and central banks would then have to limit their quantities.  Hayek provided more detailed support for his proposal in Denationalisation of Money , published by the IEA later in 1976. Choice in Currency combines a concise explanation of the essential theoretical issues with an incisive analysis of key historical developments in banking, such as the gold standard and the Bretton-Woods agreement.  The monograph includes commentaries by Ivor F. Pearce, Harold B. Rose, Douglas Jay and Sir Keith Joseph. In addition, Sudha Shenoy provides 'A Note on Government Monopoly of Money in Theory and History', a fascinating examination of several case studies, including hyperinflation in 1920s Germany.

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The Freeman.  "The Freeman" is the monthly journal of the Foundation for Economic Education (FEE-NewYork). The FEE was the first organization to clearly support free markets principles, limited government, private property, and to oppose excessive government intervention. The exceptional FEE archive includes editorials, columns, essays and book reviews from their first 1955 edition up to the very latest and is a prime source for every free market enthousiast.  Downloads are free.

Centesimus Annus.

100 years after "Rerum Novarum" this encyclique of John Paul II  actualises Christian teachings on social relations. Issued in the aftermath of the Communist defeat, to which Pope John Paul II contributed so decisively, "Centesimus Annus" offers Christians a fresh appreciation of private enterprise and the free market in societies equally committed to liberty and virtue. John Paul II severely critiques over-expansive social models as being incompatible with the very nature of our existence as free and responsable beings. The encyclique speaks favourably of a vigorous civil society leaving room for voluntary (as opposed to obligatory) solidarity. By depriving society of its responsibility, the wellfare State leads to a loss of human value. The inordinate increase of public agencies, where bureaucratic ways of thinking prevail rather than concerns for serving their clients, leads to waste. Centesimus Annus synthesises these arguments through grounding them upon the Christian understanding of man as a free, responsible, social, and sinful creature, capable of knowing the truth through faith and reason.

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A cheerful survey of the never ending story of human development. Ridly explains the
rationality behind its accelerating trend. Profit seeking innovators, improving communications, advancing science and creativity, and globalizing trade are all multiplicative forces ever increasing the pace of progress and improving our use of resources.  Time after time apocalyptic alarmism about depletion is being denied by reality: the stone age did not end by lack of stone, nor did the bronze age by lack of bronze. Even so will the oil age end long before we run out of oil. History is an ever lasting repetition of improving products, tools and processes. For sure next generation of Ipad’s and gadget will be better than today’s. For sure entrepreneurial greed and globalizing trade will make our cars ever more fuel efficient.  The only treat to nature and mankind are restrictive forces obstructing progress: Statism... and environmentalism.

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Adam Smith’s The Wealth of Nations is one of the most important books ever written. Smith recognised that economic specialization and cooperation was the key to improving living standards. He shattered old ways of thinking about trade, commerce and public policy, and led to the foundation of a new field of study: economics. And yet, his book is rarely read today. It is written in a dense and archaic style that is inaccessible to many modern readers. The Condensed Wealth of Nations condenses Smith’s work and explains the key concepts in The Wealth of Nations clearly. It is accessible and readable to any intelligent layman. This book also contains a primer on The Theory of Moral Sentiments, Adam Smith’s other great work that explores the nature of ethics.

Principles of Economics
Carl Menger
Probably due to his study of Aristotle, Menger was meticulous in forming his economic principles from observations of reality. Thus he looked at man and his nature, and drew appropriate conclusions (much like philosopher Ayn Rand). Contrast this to the Platonist floating abstrations of modern mainstream economics. Note that Menger's principles are fundamental and therefore basic. He creates an excellent foundation and starting point for further study of economics. Unfortunately few economists have adopted his fundamental method and approach to economics (even the Austrians veered away). Yet this is the most promising path an economist could take. One example of the way Menger can spur a re-checking of premises: Menger disputed Adam Smith's assertion that division of labor was the fundamental cause of human economic progress- Menger announced that the most fundamental cause of human economic progress was a growing knowledge of the causal connections required to make goods, combined with the ability to act on that knowledge. A fantastic observation. 

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Meet the world's wisest thinkers in this impressive series of radio interviews, audio debates and book reports. Leading economists and philosophers share their wisdom and debate matters of everyday life, money, personal choice and public policy. Featuring Nobel Prize laureates Robert Lucas, Milton Friedman,  Stanley Engerman, Gary Becker,  Vernon Smith and many other leading scientists.
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The Case Against The Fed   by Murray Rothbard

    Murray Rothbard begins this outstanding book by calling attention to a paradox. The Federal Reserve System enjoys virtual immunity from Congressional investigation. The few who propose to subject the Fed to even minimal scrutiny, such as Henry Gonzales of Texas, at once find a consensus arrayed against them (Pp. 1 ff.). They threaten the stability of the market; since, it is alleged, only the Fed's independence blocks the onset of uncontrollable inflation.
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Het Fundamenteel Rechtsbeginsel  
Frank van Dun

In dit meesterwerk geeft Frank van Dun een baanbrekende fundering voor het natuurrecht.
Deze magistrale analyse en dito rechtstheorie is een absolute aanrader voor iedereen die serieus geïnteresseerd is in de vragen naar recht, onrecht en de legitimering van wet en staat. 
U kan het boek hier gratis downloaden  of de hardcover uitgave bestellen bij het Rothbard Institute.

The “Great Deception” involves that successive treaties embodying European economic integration were needed to give more jobs and economic growth, when the real agenda throughout has remained political integration, the construction of a Federal European Superstate under the joint hegemony of France and Germany.
Europe's great deception
An Inquiry into the Nature and Causes of the Wealth of Nations  
Adam Smith
The Wealth of Nations was recognized as a landmark of human thought upon its publication in 1776. As the first scientific argument for the principles of political economy, it is the point of departure for all subsequent economic thought. Smith's theories of capital accumulation, growth, and secular change, among others, continue to be influential in modern economics.
When Adam Smith wrote The Wealth of Nations there were no economists, for he invented the science of Economics. Born in Kirkcaldy, Scotland, he became professor of logic and later of moral philosophy.
A personal friend of David Hume, his travels through Europe and his many contacts in business and government gave him the opportunity of making very detailed studies of the social forces giving rise to competition, trade, and markets. It is a remarkable achievement that, nearly 250 years on, this work, with its idea of the "invisible hand" of economic incentives, is still one of the essential basic texts of its field.             free pdf version

adam smith
The Theory of Moral Sentiments
Adam Smith
Smith’s first and in his own mind most important work, outlines his view of proper conduct and the institutions and sentiments that make men virtuous. Here he develops his doctrine of the impartial spectator, whose hypothetical disinterested judgment we must use to distinguish right from wrong in any given situation. We by nature pursue our self-interest, according to Smith. This makes independence or self-command an instinctive good and neutral rules as difficult to craft as they are necessary. But society is not held together merely by neutral rules; it is held together by sympathy. Smith  argues that we naturally share the emotions and to a certain extent the physical sensations we witness in others. Sharing the sensations of our fellows, we seek to maximize their pleasures and minimize their pains so that we may share in their joys and enjoy their expressions of affection and approval       more titles, lectures and correspondence of Adam Smith Here

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This book concerns civil and social liberty or, the nature and limits of the power that can legitimately be exercised by society over the individual. Mill begins by retelling the history of struggle between rulers and ruled and suggests that social rather than political tyranny is the greater danger for modern, commercial nations. This social “tyranny of the majority” (a phrase Mill takes from Tocqueville) arises from the enforcement of rules of conduct that are both arbitrary and strongly adhered to. The practical principle that guides the majority “to their opinions on the regulation of human conduct, is the feeling in each person’s mind that everybody should be required to act as he, and those with whom he sympathizes, would like them to act.”  Such a feeling is particularly dangerous because it is taken to be self-justifying and self-evident.   Download as PDF         Nederlandstalige Samenvatting

john stuart mill
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George Orwell's 1984   (free audio book)
George Orwell's classic was incredibly visionary. It is hardly fathomable that this book was written in 1948. Things that we take for granted today - cameras everywhere we go, phones being tapped, bodies being scanned for weapons remotely - all of these things were described in graphic detail in Orwell's book.  Now that we have the Internet and people spying on other people w/ webcams and people purposely setting up their own webcams to let others "anonymously" watch them, you can see how this culture can develop into the Orwellian future described in "1984."  

If you've heard such phrases as "Big Brother," "Newspeak," and "thought crime" and wondered where these phrases came from, they came from this incredible, vivid and disturbing book.  Winston Smith, the main character of the book is a vibrant, thinking man hiding within the plain mindless behavior he has to go through each day to not be considered a thought criminal. Everything is politically correct, children defy their parents (and are encouraged by the government to do so) and everyone pays constant allegiance to "Big Brother" - the government that watches everyone and knows what everyone is doing at all times - watching you shower, watching you having sex, watching you eat, watching you go to the bathroom and ultimately watching you die.

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Speaking of Liberty is a collection of speeches delivered by Rockwell over a period of ten years. The book begins with economics, and explains why Austrian economics matters, how the Federal Reserve brings on the business cycle, why we need private property and free enterprise, the unrecognized glories of the capitalist economy, and why the gold standard is still the best monetary system. Other sections deal with war, Mises and his work, other important thinkers in the libertarian tradition, and the culture and morality of liberty.
Written in clear prose to reach a broad audience, Rockwell's new book is as pro-liberty as it is critical of government. It is rigorous enough to withstand the enemy's closest scrutiny, and chock full of the energy and enthusiasm that will keep you reading.  The book is united by a set of fixed principles: the corruption of politics, the universality and immutability of the ideas of freedom, the centrality of sound money and free enterprise, the moral imperative of peace and trade, the importance of hope and tenacity in the struggle for liberty, and the need for everyone to join the intellectual fight.     
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Introduction     Chapter 1     Chapter 2      Chapter 3      Chapter 4

Lew Rockwell is
founder-president of the Ludwig von Mises Institute
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The Law has been acclaimed for more than a century as the classic moral defense of individual liberty and limited government. Here is the timeless message of immutable principle – in the immortal words of one of history's most courageous thinkers and brilliant writers.
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The Law

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    Planned Chaos    by Ludwig von Mises.  Government interventionism, under various enticing labels, endangers voluntary society, the market economy, and constitutionally limited government. Mises explains the errors of those who believe that a system based on individual freedom can be "mixed" with socialism and collectivism. For Mises every socialist economy is doomed to fail because there is no way to calculate prices nor how to allocate resources. Government intervention in the economy causes distortions and shortages which inevitably lead to chaos. The book also describes the economic authoritarian nature of Naziism and its similarities to Communism. Hitler believed in a government controlled economy, even if he left the price system intact.    Download PDF
Free access and unrestricted demand for a finite resource ultimately dooms the resource through over-exploitation. This occurs because the benefits of exploitation accrue to individuals, each of which is motivated to maximise his or her own use of the resource, while the costs of exploitation are distributed between all those to whom the resource is available (which may be a wider class of individuals than those who are exploiting it). The theory itself is as old as Aristotle who said: "That which is common to the greatest number has the least care bestowed upon it.      more here
by James Dale Davidson and Lord William Rees-Mogg.
How to Survive and Prosper during the Collapse of the Welfare State.
A superb book on how the Information Age will transform the world and our lives, mostly in favor of freedom, but with caveats.    
by James Dale Davidson & Lord William Rees-Mogg. 
Protect Yourself in the Coming Depression !   Describes the dynamics behind major events of the 1990's. Most of the predictions in this book have come true, and there is good reason that the others will too, especially the forecast for a major stock market crash and deflationary depression. In the revised and updated volume of the bestselling book, the authors make unsettling economic and social predictions for the next five years, and provide a personal economic survival plan that includes hundreds of investment tips and forecasts, and a list of troubled and sound banks. They also show how socioeconomic changes and social unrest will affect the economy.


This book, originally published in 1932, presents a cosmology of a mass delusion which affects the mentality of the world. This takes place following World War I where the Federal Reserve System, for the first time, allowed flexible currency. This book blows away the conventional interpretations of the crash of 1929, not only in its contents but that this book exists at all. . He ascribes the crash to the pile of up debt, which in turn was made possible by the Fed printing machine. This created distorations in the production structure that cried out for correction. So what is the answer? Let the correction happen and learn from our mistakes. Such is the thesis of the great Garet Garrett. This book It was written in 1931. Two years before FDR arrived with his destructive New Deal, ascribing the depression to captialism and spectulation, Garrett had already explained what was really behind the correction.  It took Murray Rothbard to resurrect these truths decades later, and when he wrote this in 1963, it was a shock and we are still fighting an uphill battle to explain the true causes of the crash and following depression. But here in this wonderful book is an actual contemporary account that spelled it out plainly for the world to see.  No more can we say that people back then could not have understood. Garrett told them. And thanks to this new edition of this classic and important work, he is telling us again today.   free download here

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  • Anything That's Peaceful  By  Leonard E. Read.   In this timely classic Read explains the miracle of the free market and the wonders of peaceful cooperation of individuals in a free society. This work captures the philosophy of freedom that FEE strives to advance.                Download as PDF


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  • Cogitations   By Albert Jay Nock.   This book is a collection of quotations gleaned from the works of a great American individualist, Albert Jay Nock. You will find this work to be a delightful and stimulating introduction to Nock's wit and wisdom.
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  • Critique of Interventionism    By Ludwig von Mises. The economic principles that Mises expounded in these six essays during the 1920s have endured the test of time. The names and places have changed, but the same tired statist notions prevail. Mises's incisive criticisms are as pertinent for Americans today as they were for the Germans of the Weimar republic.     Download as PDF

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  • The Farm Problem    Edited by Paul L. Poirot    This anthology includes writings by John Chamberlain, Edmund A. Opitz, Grover Cleveland, W.M. Curtiss, Clarence Carson, and E.C. Pasour Jr., among others. After more than 70 years of government intervention, these damaging policies continue to plague American agriculture. The resulting distortion of the price system and an unconscionable tax burden can only be eliminated by a return to the free market.                  Download as PDF


More classic books about economics, law and liberty available at the
Online Library of Libertyy
  • The Freedom Philosophy    Edited by Paul L. Poirot .   This anthology includes 14 essays on the political, economic, and moral foundations of a free society. These classic writings by Leonard E. Read, Frank Chodorov, Benjamin Rogge, F. A. Harper, among others, demonstrate the superiority of individual choice and capitalism over any forms of collectivism.                                  Download as PDF

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  • I, Pencil  By Leonard E. Read  Introduction by Richard. M. Ebeling  Afterword by Milton Friedman.   Hundreds of thousands of Americans of all ages continue to enjoy this simple and beautiful explanation of the miracle of the "invisible hand" by following the production of an ordinary pencil. Read shows that none of us knows enough to plan the creative actions and decisions of others.       Download as PDF

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  • The Free market and Its Enemies  By Ludwig von Mises.  These lectures delivered at FEE in 1951 offer a glimpse of Mises the teacher. Topics discussed include the crucial distinction between natural and social sciences; the fallacies of Marxism; the disastrous effects of inflation on the economy; the necessity of a stable monetary system backed by the gold standard; and the relationship between capitalism and  human progress. Never before published!   Download as PDF

  • Liberty: A Path to Its Recovery (Hardcover)      By F. A. Harper.   F. A. Harper places private property and economic liberty at the very heart of freedom. He attempts to measure how much economic liberty we have lost and presents a blueprint for regaining freedom.                       Download as PDF


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  • Pattern for Revolt          By Leonard E. Read.  Here, in a collection of imagined political speeches, Read offers a vision of a true uncompromising classical liberal who has been nominated and then elected the president of the United States.            Download as PDF
  • The Tariff Idea      By W. M. Curtiss.  This monograph examines the many persistent fallacies of trade protectionism and explains the vast benefits of free trade. 
    Download as PDF


    • A Moral Basis for Liberty         By Robert Sirico.  From the late Scholastics to eighteenth-century political economists, classical liberal thinkers have always emphasized the morality of the market. In this brief work Father Sirico explores the vital linkage between faith and freedom.                     Download as PDF
    by Ayn Rand .   

    The main character, John Galt, rebels against the corrupt socialist order and determines to "stop the motor of the world". He sees that it is the honest, productive people who are sacrificing themselves for the benefit of the political looters and an unappreciative public. Galt moves around the country like a ghost and persuades the most productive people, especially industrialists, to stop providing "the sanction of the victim", so they drop out and disappear. The novel graphically chronicles the disintegration and ultimate collapse of the economy from the mounting predations of a bankrupt government and the inability of the remaining people – bereft of skills, reason and morality – to keep anything running.  Meanwhile, the producers have hidden in "Galt's Gulch", an enclave set in a remote valley in the Rocky Mountains. The enclave is hidden from the outside world thanks to a ray screen that projects the image of an inpenetrable mountaintop over the valley. They practice a pure market economy, living and creating for their own enjoyment, trading value for value, and respecting each other's lives and property. Many of the Gulch inhabitants indulge their creativity by practicing livelihoods quite different from those they pursued in the world at large.  The novel ends with the world having ground to a halt, with the way made clear for the producers to come back and rebuild the world - presumably on their own terms.   Rand was thrilled by the impressive technology of the Industrial Age and extolled the human ingenuity and rational thought that was necessary to create powerful machines and organize great enterprises such as railroads, steel mills and automobile factories

    How Markets and Technology Empower Ordinary People to Beat Big Media, Big Government, and Other Goliaths    read comments by "the Economist"
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    In her remarkable and unflinchingly honest memoir, the author recounts her transformation from what she terms, "the world of faith to the world of reason."  More Details by here     and here     and here

    • Wij verkiezen een Führer   door Martin De Vlieghere"   Door de systhematische  toepassing van de ekonomische leerstelsels van J.M. Keynes, werd Wereldoorlog II voor Hitler een noodzaak. Omdat wij, nog steeds prat gaande op de keynesiaanse konsensus, verder roeien met de spaan van inflatie, werkzekerheid en sociale bijstand, zou straks voor ons een nieuwe Führer wel eens noodzaak kunnen worden!" Aldus Martin De Vlieghere, post-doktoraal onderzoeker van het NFWO bij de vakgroep wijsbegeerte aan de Universiteit Gent, in zijn boek "Wij verkiezen een Führer. De Ekonomische Oorzaken van Racisme en Oorlog in de Twintigste Eeuw". En dus, zo besluit hij daar gelukkig uit, zijn we verkeerd bezig. Onze systemen, die op zekerheid en rust gebouwd zijn, verhinderen ekonomische innovatie en vooruitgang. Hiermee ontkennen we zelfs onze menselijke eigenheid, die bestaat uit het streven naar winst, en verbetering van ons lot.

    great_depressionLawrence Reed explains how Governments and the Central Bank catastrophically mishandled a moderate slowdown of the business cycle, and so caused a mild recession to degenerate in the full blown 1929 financial crisis.  He explains how the excessive money supply in the late twenties first caused the reckless stock market mania and a generalised asset bubble. When the Fed finally decided to slow the asset inflation they unexpectedly contracted the money supply by a massive 1/3 in six months from August'29 till March'30. The market reacted most vigorously. Stocks plummeted and asset prices crashed. Governments then tried to remedy the accelerating recession by raising import duties, causing reprisal trade bareers by trading Pners. The new tariffs slowed down international trade, boosting unemployment. Facing declining revenues and increasing wefare demands President Hoover doubled income taxes in his 1932 Revenue act. In 1933, Roosevelt symply seized peoples gold holdings, abandoned the gold standard, and devalued the dollar with 40%....

    It was in deed not free market failure which produced the 1929 depression. It was political bungling on a grand scale, with the one policy blunder succeeding the other: tradecrushing tariffs, incentive-sapping taxes, mind-numbing controls on production and competition, senseless destruction of crops, coercive labor laws and not in the least the FED's mismanagement. The social cost of the political blunders was the severest crisis in history. Stocks fell to 10% of their pre-crash value, income fell by 28%, car production fell by 75%, banks failed in record numbers, dragging down hundreds of thausends of customers. 13 million unemployed in the US causing rumors of revolt even.

    The author also impressively describes how massive public spending in Roosevelts' New Deal and the excessive dirigism in the National Recovery Act (NRA) rather than remedying the 1929 crisis, prolongued it well into the fourties.
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    Robert Higgs is Senior Fellow in Political Economy for The Independent Institute and Editor of the Institute's quarterly journal, The Independent Review: A Journal of Political Economy.  Dr. Higgs has written and edited numerous books including his most recent, Crisis and Leviathan: Critical Episodes in the Growth of American Government. He received his Ph.D. in economics from Johns Hopkins University, and he has taught at the University of Washington, Lafayette College, and Seattle University. He has been a visiting scholar at Oxford University and Stanford University, and a fellow for the Hoover Institution. His popular articles have appeared in the Wall Street Journal, Los Angeles Times, Providence Journal, Chicago Tribune, and San Francisco Examiner.  He has also appeared on NPR, NBC, ABC, C-SPAN, CBN, and CNBC.
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    big government

    Big Public Spending
    means poor Growth.
    Slow growth
    results in poverty.

    These are the key findings from our own research
    which confirms the results of earlier academic studies
    and of this analysis which compared the growth differentials
    of 30 OECD countries over 45 years 
    ( no less than 1000 data-pairs !!! )

    The Path To Sustainable Growth
    Lessons From 20 Years Growth Differentials In Europe
    Martin De Vlieghere and Paul Vreymans
    Abstract:    While the rest of the world is booming, Europe lags behind. Europe's performance is weak in spite of high productivity and knowledge, high level of development and good labour ethics. Growth is also remarkably dissimular among regions. France, Germany and Italy are stagnating, and so do Denmark, Sweden and Finland. All gained less than 44% prosperity over the last 20 years. The Irish economy grew 4 times faster, gaining 169% wealth over the same period. In half a generation Ireland so metamorphosed into Europe's second richest country creating jobs for all.
    " Big government " is the main cause of Europe's weak performance. The oversized Public Sector lacks productivity and is undoing the entire productivity gains of the Private Sector, eradicating all of its outstanding performance and productiveness. Europe could improve its overall performance by copying the Irish success formulas: Scaling down Public Spending, downsizing bureaucracy, and shifting the tax burden from income on consumption. This book demonstrates why the Lisbon Agenda and decades of Keynesian inflationist demand stimulation have failed. It devellops an alternative and workable supply-side strategy as well as effective cures for a humane and financially sustainable development.
    This book reads as a   step-by-step manual for economic recovery.   It is a data-reference for students and politicians interested in growth, wellfare and in social modelling.   It is a  classic  for  economists concerned about Big Government,  poor public sector productivity  and for parents worrying about  their declining standard of living and their children's future.


    Dr. Martin De Vlieghere is economist and doctor of philosophy since 1993.  His PhD was written on the conditions of modernity in the works of Habermas and Hayek. He has been assistant professor at the DePment of Philosophy of the University of Ghent. He is president of the "Free Association for Civilization Studies" and member of the board of directors of Nova Civitas.

    Paul Vreymans is econometrist and advisor at the Free Institute for Economic Research. As an international businessman he is a close witness of Europe's industrial collapse and the rise of the parasitical bureaucratic complex. He is a founding member of the Brussels' think tank WorkForAll.

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