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.

    An evolution of libertarianism, Agorism embraces all non-coercive human action and opposes all force- or fraud-based attempts to stifle innovation, trade, thought, and wealth. If you have ever suspected that government, academia, and other entities are trying to pull the wool over your eyes in order to control your money, your morality, and your life, you'll find answers and remedies in AN AGORIST PRIMER. In one concise volume, Samuel Edward Konkin III explains the theory, principles, and -- most important of all -- the practice of Agorism. If you think that consistency between means and ends matters, this is the book for you! From the preface: "Agorism is a way of thinking about the world around you, a method of understanding why things work the way they do, how they do, and how they can be dealt with - how you can deal with them. "Agorism was meant to improve the lot of everyone, not a chosen elite or unwashed underclass. Hence an introductory work that presents ideas without going through the long intellectual history and conflict of competing ideas that produced them. "As the creator of agorism, it is most incumbent on me first to attempt to reduce it to basic intelligibility." Samuel Edward Konkin III is the author of the seminal work on libertarianism and Agorism, New Libertarian Manifesto. Over the course of thirty years, he wrote, edited, and published newsletters and magazines such as Laissez Faire, New Libertarian Notes, and 101 issues of the longest-running publication of its kind, New Libertarian Weekly. Known to his friends as SEK3, Mr. Konkin graduated cum laude from the University of Alberta, serving as head of the Young Social Credit League there. He received his Masters in Theoretical Chemistry at New York University, but left NYU without submitting his Ph.D. dissertation in Quantum Mechanics to pursue his lifelong efforts to promote Counter-Economics and Agorism. He founded the New Libertarian Alliance, the Movement of the Libertarian Left and the outreach organization The Agorist Institute. His body of work is available from KoPubCo. PRAISE FOR SAMUEL EDWARD KONKIN III "Konkin's writings are to be welcomed. Because we need a lot more polycentrism in the movement. Because he shakes up Partyarchs who tend to fall into unthinking complacency. And especially because he cares deeply about liberty and can read and write, qualities which seem to be going out of style in the libertarian movement." --Murray N. Rothbard, Ph.D.

    Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth. This persuasive book will revolutionize our understanding of capital and point the way to a major transformation of the world economy.

    When it was published in 1943, Isabel Paterson's work provided fresh intellectual support for the endangered American belief in individual rights, limited government, and economic freedom. The crisis of today's collectivized nations would not have surprised Paterson; in The God of the Machine, she had explored the reasons for collectivism's failure. Her book placed her in the vanguard of the free-enterprise movement now sweeping the world.Paterson sees the individual creative mind as the dynamo of history, and respect for the individual's God-given rights as the precondition for the enormous release of energy that produced the modern world. She sees capitalist institutions as the machinery through which human energy works, and government as a device properly used merely to cut off power to activities that threaten personal liberty.Paterson applies her general theory to particular issues in contemporary life, such as education, .social welfare, and the causes of economic distress. She severely criticizes all but minimal application of government, including governmental interventions that most people have long taken for granted. The God of the Machine offers a challenging perspective on the continuing, worldwide debate about the nature of freedom, the uses of power, and the prospects of human betterment.Stephen Cox's substantial introduction to The God of the Machine is a comprehensive and enlightening account of Paterson's colorful life and work. He describes The God of the Machine as "not just theory, but rhapsody, satire, diatribe, poetic narrative." Paterson's work continues to be relevant because "it exposes the moral and practical failures of collectivism, failures that are now almost universally acknowledged but are still far from universally understood." The book will be essential to students of American history, political theory, and literature.

    Wooldridge upends many common assumptions and provides an indispensable back story to this fraught and pressing issue.' Steven Pinker'The Aristocracy of Talent provides an important and needed corrective to contemporary critiques of meritocracy. It puts meritocracy in an illuminating historical and cross-cultural perspective that shows how crucial the judgment of people by their talents rather than their bloodlines or connections has been to creating the modern world. Highly recommended' Francis Fukuyama*Shortlisted for the 2021 Financial Times and McKinsey & Company Business Book of the Year Award*Meritocracy: the idea that people should be advanced according to their talents rather than their status at birth. For much of history this was a revolutionary thought, but by the end of the twentieth century it had become the world's ruling ideology. How did this happen, and why is meritocracy now under attack from both right and left? Adrian Wooldridge traces the history of meritocracy forged by the politicians and officials who introduced the revolutionary principle of open competition, the psychologists who devised methods for measuring natural mental abilities and the educationalists who built ladders of educational opportunity. He looks outside western cultures and shows what transformative effects it has had everywhere it has been adopted, especially once women were brought into the meritocractic system.Wooldridge also shows how meritocracy has now become corrupted and argues that the recent stalling of social mobility is the result of failure to complete the meritocratic revolution. Rather than abandoning meritocracy, he says, we should call for its renewal.

    Drawing on unprecedented access to Rand's private papers and the original, unedited versions of Rand's journals, Jennifer Burns offers a groundbreaking reassessment of this key cultural figure, examining her life, her ideas, and her impact on conservative political thought.Goddess of the Market follows Rand from her childhood in Russia through her meteoric rise from struggling Hollywood screenwriter to bestselling novelist, including the writing of her wildly successful The Fountainhead and Atlas Shrugged. Burns highlights the two facets of Rand's work that make her a perennial draw for those on the right: her promotion of capitalism, and her defense of limited government. Both sprang from her early, bitter experience of life under Communism, and became among the most deeply enduring of her messages, attracting a diverse audience of college students and intellectuals, business people and Republican Party activists, libertarians and conservatives. The book also traces the development of Rand's Objectivist philosophy and her relationship with Nathaniel Branden, her closest intellectual partner, with whom she had an explosive falling out in 1968.One of the Denver Post's Great Reads of 2009One of Bloomberg News's Top Nonfiction Books of 2009Excellent.--Time magazineA terrific book--a serious consideration of Rand's ideas, and her role in the conservative movement of the past three quarters of a century.--The American ThinkerA wonderful book: beautifully written, completely balanced, extensively researched. The match between author and subject is so perfect that one might believe that the author was chosen by the gods to write this book. She has sympathy and affection for her subject but treats her as a human being, with no attempt to cover up the foibles.--Mises Economics Blog

    Meanwhile, working-class Americans have been asked to pay more. The Triumph of Injustice presents a forensic investigation into this dramatic transformation, written by two economists who revolutionized the study of inequality. Eschewing anecdotes and case studies, Emmanuel Saez and Gabriel Zucman offer a comprehensive view of America’s tax system, based on new statistics covering all taxes paid at all levels of government. Their conclusion? For the first time in more than a century, billionaires now pay lower tax rates than their secretaries.Blending history and cutting-edge economic analysis, and writing in lively and jargon-free prose, Saez and Zucman dissect the deliberate choices (and sins of indecision) that have brought us to today: the gradual exemption of capital owners; the surge of a new tax avoidance industry; and the spiral of tax competition among nations. With clarity and concision, they explain how America turned away from the most progressive tax system in history to embrace policies that only serve to compound the wealth of a few.But The Triumph of Injustice is much more than a laser-sharp analysis of one of the great political and intellectual failures of our time. Saez and Zucman propose a visionary, democratic, and practical reinvention of taxes, outlining reforms that can allow tax justice to triumph in today’s globalized world and democracy to prevail over concentrated wealth.A pioneering companion website allows anyone to evaluate proposals made by the authors, and to develop their own alternative tax reform at taxjusticenow.org.

    His efforts shut down countless crooks -- both famous and obscure. Then he realized what the real problem was.In Give Me a Break, Stossel takes on the regulators, lawyers, and politicians who thrive on our hysteria about risk and deceive the public in the name of safety. Drawing on his vast professional experience (as well as some personal ones), Stossel presents an engaging, witty, and thought-provoking argument about the beneficial powers of the free market and free speech.

    And for a millennium and a half, the philosophers and theologians of Europe have scorned the marketplace. The bourgeois life, capitalism, Mencken’s “booboisie” and David Brooks’s “bobos”—all have been, and still are, framed as being responsible for everything from financial to moral poverty, world wars, and spiritual desuetude. Countering these centuries of assumptions and unexamined thinking is Deirdre McCloskey’s The Bourgeois Virtues, a magnum opus that offers a radical view: capitalism is good for us.McCloskey’s sweeping, charming, and even humorous survey of ethical thought and economic realities—from Plato to Barbara Ehrenreich—overturns every assumption we have about being bourgeois. Can you be virtuous and bourgeois? Do markets improve ethics? Has capitalism made us better as well as richer? Yes, yes, and yes, argues McCloskey, who takes on centuries of capitalism’s critics with her erudition and sheer scope of knowledge. Applying a new tradition of “virtue ethics” to our lives in modern economies, she affirms American capitalism without ignoring its faults and celebrates the bourgeois lives we actually live, without supposing that they must be lives without ethical foundations. High Noon, Kant, Bill Murray, the modern novel, van Gogh, and of course economics and the economy all come into play in a book that can only be described as a monumental project and a life’s work. The Bourgeois Virtues is nothing less than a dazzling reinterpretation of Western intellectual history, a dead-serious reply to the critics of capitalism—and a surprising page-turner.

    Featuring brand new sections on the remarkable shifts in the world economy, this economic study is a relevant, entertaining, and fascinating guide for those seeking both a solid lesson on the development of economic theory throughout the past two hundred years and a balanced perspective of our current economic state on the brink of the millennium.By applying age-old economic theories to contemporary issues, Todd Buchholz helps readers to see how the thoughts and writings of the great economists of the past have vital relevance to the dilemmas affecting all our lives today.

    Albert O. Hirschman makes a basic distinction between alternative ways of reacting to deterioration in business firms and, in general, to dissatisfaction with organizations: one, "exit," is for the member to quit the organization or for the customer to switch to the competing product, and the other, "voice," is for members or customers to agitate and exert influence for change "from within." The efficiency of the competitive mechanism, with its total reliance on exit, is questioned for certain important situations. As exit often undercuts voice while being unable to counteract decline, loyalty is seen in the function of retarding exit and of permitting voice to play its proper role. The interplay of the three concepts turns out to illuminate a wide range of economic, social, and political phenomena. As the author states in the preface, "having found my own unifying way of looking at issues as diverse as competition and the two-party system, divorce and the American character, black power and the failure of 'unhappy' top officials to resign over Vietnam, I decided to let myself go a little."

    Incessant budget crises plus a government paralyzed by partisan gridlock have led to demands for reform, even a constitutional convention. But what, exactly, is wrong and how can we fix it? In California Crackup, Joe Mathews and Mark Paul provide clear and informed answers. Their fast-paced and often humorous narrative deftly exposes the constitutional origins of our current political and economic problems and furnishes a uniquely California fix: innovative solutions that allow Californians to debate their choices, settle on the best ones, hold elected officials accountable for results, and choose anew if something doesn’t work.

    We all know that the very rich have gotten a lot richer these past few decades while most Americans haven’t. In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the “haveit- alls” have so much more? And how have they managed to restructure the economy to reap the lion’s share of the gains and shift the costs of their new economic playground downward, tearing new holes in the safety net and saddling all of us with increased debt and risk? Lots of so-called experts claim to have solved this great mystery, but no one has really gotten to the bottom of it—until now. In their lively and provocative Winner-Take-All Politics, renowned political scientists Jacob S. Hacker and Paul Pierson demonstrate convincingly that the usual suspects—foreign trade and financial globalization, technological changes in the workplace, increased education at the top—are largely innocent of the charges against them. Instead, they indict an unlikely suspect and take us on an entertaining tour of the mountain of evidence against the culprit. The guilty party is American politics. Runaway inequality and the present economic crisis reflect what government has done to aid the rich and what it has not done to safeguard the interests of the middle class. The winner-take-all economy is primarily a result of winner-take-all politics. In an innovative historical departure, Hacker and Pierson trace the rise of the winner-take-all economy back to the late 1970s when, under a Democratic president and a Democratic Congress, a major transformation of American politics occurred. With big business and conservative ideologues organizing themselves to undo the regulations and progressive tax policies that had helped ensure a fair distribution of economic rewards, deregulation got under way, taxes were cut for the wealthiest, and business decisively defeated labor in Washington. And this transformation continued under Reagan and the Bushes as well as under Clinton, with both parties catering to the interests of those at the very top. Hacker and Pierson’s gripping narration of the epic battles waged during President Obama’s first two years in office reveals an unpleasant but catalyzing truth: winner-take-all politics, while under challenge, is still very much with us. Winner-Take-All Politics—part revelatory history, part political analysis, part intellectual journey— shows how a political system that traditionally has been responsive to the interests of the middle class has been hijacked by the superrich. In doing so, it not only changes how we think about American politics, but also points the way to rebuilding a democracy that serves the interests of the many rather than just those of the wealthy few.

    It’s the story of the twenty-month struggle by Senator Ted Kaufman and Jeff Connaughton, his chief of staff, to hold Wall Street executives accountable for securities fraud, to stop stock manipulation by high-frequency traders, and to break up too-big-to-fail megabanks.This book takes us inside their dogged crusade against institutional inertia and industry influence as they encounter an outright reluctance by the Obama administration, the Justice Department, and the Securities and Exchange Commission to treat Wall Street crimes with the gravity they deserve. On financial reforms, Connaughton criticizes Democrats for relying on the very Wall Street technocrats who had failed to prevent the crisis and Republicans for staunchly opposing real reforms primarily to enjoy a golden opportunity to siphon fundraising dollars from the Wall Street executives who had raised millions to elect Barack Obama president.Connaughton, a former lawyer in the Clinton White House, illuminates the pivotal moments and key decisions in the fight for financial reform that have gone largely unreported. His arch, nonpartisan account chronicles the reasons why Wall Street’s worst offenses were left unpunished, and why it’s likely that the 2008 debacle will happen again.

    Analysing various case studies of innovation-led growth, it describes the opposite situation, whereby the private sector only becomes bold enough to invest after the courageous State has made the high-risk investments.The volume argues that in the history of modern capitalism, the State has generated economic activity that would not otherwise have happened, and has actively opened up new technologies and markets that private investors can later move into. Far from the often heard criticisms of the State potentially 'crowding out' private investments, the State makes them happen, shaping and creating markets, not only 'fixing' them. Ignoring this reality only serves ideological ends, and hurts effective policymaking.This book examines case studies ranging from the advent of the Internet to the emergence of the biotechnology and nanotechnology industries. In particular, the volume debunks the myth that Silicon Valley was created by entrepreneurial venture capital. A key chapter focuses on the State investments behind Apple's success, and reveals that every major technology behind the iPhone owes its source to public funds. Thus, while entrepreneurial individuals like Steve Jobs are needed, their success is nearly impossible without their ability to ride the wave of State investments. And if Europe wants its own Googles, it needs more State action, not less.Two forward-looking chapters focus on the emergence of the next big thing after the internet: the 'green revolution'. Both solar and wind technology are currently being led by State spending, whether through the US ARPA-E programme or the Chinese and Brazilian State investment banks. The discussion refreshingly moves beyond the usual division between proponents of austerity vs. the proponents of fiscal stimulus. It argues that State investments not only help kick-start growth during periods of recession, but that they also, even in boom periods, lead to productive investments in radical new technologies which later foster decades of growth.The book ends with a fundamental question: if the State is so important to investments in high-risk innovation, why does it capture so little direct return?