Rothbard begins with a quick overview of its historical roots, and then goes on to define libertarianism as resting "upon one single axiom: that no man or group of men shall aggress upon the person or property of anyone else." He writes a withering critique of the chief violator of liberty: the State. Rothbard then provides penetrating libertarian solutions for many of today's most pressing problems, including poverty, war, threats to civil liberties, the education crisis, and more.

    At a time of frightening volatility, what is the average investor to do?The answer: turn to Burton G. Malkiel’s advice in his reassuring, authoritative, gimmick-free, and perennially best-selling guide to investing. Long established as the first book to purchase before starting a portfolio or 401(k), A Random Walk Down Wall Street now features new material on “tax-loss harvesting,” the crown jewel of tax management; the current bitcoin bubble; and automated investment advisers; as well as a brand-new chapter on factor investing and risk parity. And as always, Malkiel’s core insights—on stocks and bonds, as well as real estate investment trusts, home ownership, and tangible assets like gold and collectibles— along with the book’s classic life-cycle guide to investing, will help restore confidence and composure to anyone seeking a calm route through today’s financial markets.

    Schumacher's riveting, richly researched statement on sustainability has become more relevant and vital with each year since its initial groundbreaking publication during the 1973 energy crisis. A landmark statement against "bigger is better" industrialism, Schumacher's Small Is Beautiful paved the way for twenty-first century books on environmentalism and economics, like Jeffrey Sachs's The End of Poverty, Paul Hawken's Natural Capitalism, Mohammad Yunis's Banker to the Poor, and Bill McKibben's Deep Economy. This timely reissue offers a crucial message for the modern world struggling to balance economic growth with the human costs of globalization.

    A. Hayek's comprehensive three-part study of the relations between law and liberty. Rules and Order constructs the framework necessary for a critical analysis of prevailing theories of justice and of the conditions which a constitution securing personal liberty would have to satisfy.

    David Friedman's standpoint, known as 'anarcho-capitalism', has attracted a growing following as a desirable social ideal since the first edition of The Machinery of Freedom appeared in 1971. This new edition is thoroughly revised and includes much new material, exploring fresh applications of the author's libertarian principles. Among topics covered: how the U.S. would benefit from unrestricted immigration; why prohibition of drugs is inconsistent with a free society; why the welfare state mainly takes from the poor to help the not-so-poor; how police protection, law courts, and new laws could all be provided privately; what life was really like under the anarchist legal system of medieval Iceland; why non-intervention is the best foreign policy; why no simple moral rules can generate acceptable social policies -- and why these policies must be derived in part from the new discipline of economic analysis of law.

    It introduces a method of reasoning to think like an economist through example and application. It presents the errors in much popular reasoning about economic events.

    Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and Entrepreneurship offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics. Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is more useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources." Although Competition and Entrepreneurship is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.

    It represents, in fact, the only systematic attempt so far ever made to combine the general theory of the “laws of motion” of the capitalist mode of production developed by Marx, with the concrete history of capitalism in the twentieth century.Mandel’s book starts with a challenging discussion of the appropriate methods for studying the capitalist economies. He seeks to show why the classical approaches of Luxemburg, Bukharin, Bauer and Grossman failed to accomplish the further development of Marxist theory whose urgency became evident after Marx’s death. He then sketches the structure of the world market and the variant types of surplus-profit that have characterized its successive stages. On these foundations, Late Capitalism proceeds to advance an extremely bold schema of the “long waves” of expansion and contraction in the history of capitalism, from the Napoleonic Wars to the present. Mandel criticizes and refines Kondratieff’s famous use of the notion.Mandel’s book surveys in turn the main economic characteristics of late capitalism as it has emerged in the contemporary period. The last expansionary long wave, it argues, started with the victory of fascism on the European continent and the advent of the war economies in the US and UK during the 1940s, and produced the record world boom of 1947-72. Mandel discusses the reasons why the dynamic upswing of growth in this period was bound to reach its limits at the turn of the 1970s, and why a long wave of economic stagnation and intensified class struggle has set in today.Late Capitalism is a landmark in Marxist economic literature. Specifically designed to explain the international recession of the 1970s, it is a central guide to understanding the nature of the world economic crisis today.

    It offers a broad view of the functioning of the public sector and its role in a democratic society. Widely adopted in previous editions,the new Fifth Edition has been reworked throughout,including extensive updating to allow for legislative changes,changes in data,and new theoretical developments. It includes in-depth coverage of the Tax Reform Act of 1986 and its implications today.

    Capitalist production, not government programs, has been the real conqueror of poverty.

    Contains the fundamental theories of the "Austrian School of Economics" and analyzes monetary problems from the point of view of the Monetary Theory of the Trade Cycle.

    

    Tomek and Kenneth L. Robinson set out principles for understanding the operation of markets for agricultural products. This heavily revised and updated edition of a classic in the field applies microeconomic theory to the operation of agricultural product markets, covering the distinctive features of their supply and demand and of the pricing institutions (such as auctions and futures markets) through which economic forces affect commodity prices.The book addresses four central topics: principles of price determination; price differences and variability; pricing institutions; and empirical price analysis. Numerous charts, graphs, and tables illustrate the authors' points throughout. The fourth edition of Agricultural Product Prices brings its subject into the twenty-first century with information and insights that can be applied to agricultural markets worldwide.

    Originally delivered as a series of lectures in Trinidad in 1960, James expounds on the relevance of Marxism, and revolution, for our times, from Charlie Chaplin to the Workers' Councils.

    Galbraith advocates a "new socialism" as the solution, nationalising military production & public services such as health care. He also advocates introducing disciplined wage, salary, profit & price controls on the economy to reduce inequality & restrain the power of giant corporations. Socialisation of the "unduly weak industries & unduly strong ones" together with planning for the remainder would allow the public interest to be accorded its rightful preference over private interests. He adds that this can only be achieved when there is a new belief system that rejects the orthodoxy of economics in the past. The new socialism needs to be achieved thru gradual democratic political change.

    Milton Friedman restates the quantity theory of money and discusses the significance of its revival after a period of eclipse by the Keynesian view. Four empirical studies by Phillip Cogan, John J. Klein, Eugene M. Lerner, and Richard T. Selden are provided in support of the theory. The four studies...of inflation during and after the world wars and in the U.S. over the past century...show a striking regularity in economic response to monetary change. They will be of particular interest to monetary theorists, to empirical investigators in this area, and to economic historians and theorists generally.CONTENTS: The Quantity Theory of Money...A Restatement (Friedman) * The Monetary Dynamics of Hyperinflation (Cagan) * German Money and Prices, 1932-44 (Klein) * Inflation in the Confederacy, 1861-65 (Lerner) * Monetary Velocity in the United States (Selden)

    

    But these are in the future, which cannot be directly known. Expectation will confine itself to what is deemed possible, but this leaves it free to entertain widely diverse and rival hypotheses. How can such skeins of mutually conflicting ideas serve the formation of individual or institutional policy? This is the chief question this book examines.

    

    

    in the late 1960s and early 1970s, but its relevance to other countries of the period and also in today's global economy is evident. When government expenditure constitutes a larger and larger share of total economy theorists who ignore the impact of the state budget do so at their own (and capitalism's) peril. This volume examines how changes in tax rates and tax structure used to regulate private economic activity. O'Connor theorizes that particular expenditures and programs and the budget as a whole can be understood only in terms of power relationships within the private economy. O'Connor's analysis includes an anatomy of American state capitalism, political power and budgetary control in the United States, social capital expenditures, social expenses of production, financing the budget, and the scope and limits of reform. He shows that the simultaneous growth of monopoly power and the state itself generate an increasingly severe social crisis. State monopolies indirectly determine the state budget by generating needs that the state must satisfy. The state administration organizes production as a result of a series of political decisions. Over time, there is a tendency for what O'Connor calls the social expenses of production to rise, and the state is increasingly compelled to socialize these expenses. The state has three ways to finance increased budgetary outlays: create state enterprises that produce social expenditures; issue debt and borrowing against further tax revenues; raise tax rates and introduce new taxes. None of these mechanisms are satisfactory. Neither the development of state enterprise nor the growth of state debt liberates the state from fiscal concerns. Similarly, tax finance is a form of economic exploitation and thus a problem for class analysis. O'Connor contends that the fiscal crisis of the capitalist state is the inevitable consequence of the structural gap between state expenditures and revenues. The state's only way to ameliorate the fiscal crisis is to accelerate the growth of the social-industrial complex. In his new introduction, O'Connor describes The Fiscal Crisis of the State as the product of a unique combination of personal, intellectual, and political experiencesa. He goes on to explain the origins of his theory and the consequences of The Fiscal Crisis of the State. He answers the question is there a fiscal crisis today? and discusses changes in fiscal policy since the '60s and '70s.

    Ranging from prehistoric time to independence it covers the former French as well as British colonies.

    

    

    

    Their decisions directly affect the amount of money in circulation, the level of interest rates, and the functioning of the banking system and credit markets. The impact of their decisions can be measured in the success or failure of thousands of businesses, in fluctuations of prices and cost, in changes in family income and wealth, and in the rise and fall of stocks and bonds.

    It builds a framework for market economics, for it is through value and price that the people give purpose and aim to the production process. Regardless of their motivation, whether material or ideal, noble or base, the people judge goods and services according to suitability for the desired objectives. People ascribe value to consumer goods and thus determine prices; according to Von Bohm-Bawerk irrefutable "imputation theory," they also indirectly determine the prices of all factors of production, and the income of every member of the market economy. An important basic text for every student of economics.