Man, Economy, and State
with
Power and Market
First edition (volume I)
AuthorMurray Rothbard
Original titleMan, Economy, and State: A treatise on economic principles volume I[lower-alpha 1]
CountryUnited States
LanguageEnglish
SubjectEconomics
PublisherD. van Nostrand (1962), Institute for Humane Studies (1981), Ludwig von Mises Institute (1993, 2004)
Publication date
1962 (abridged)[lower-alpha 1]
1981, 1993, 2004 (full text)
Media typeprint
Pages987 (abridged)[lower-alpha 1]
1,506 (full text)
ISBN0-8147-5380-9 (1962), 0-910884-27-7 (1981), 0-8402-1223-2 (1993), 0-945466-30-7 (2004)
OCLC339220
See also Rothbard (1970) Power and Market.[lower-alpha 1]

Man, Economy, and State: A treatise on economic principles is a 1962 book of Austrian School economics by Murray Rothbard (orig. abridged ed.).[lower-alpha 1]

According to Joseph T. Salerno's Introduction to the work, Rothbard's "primary mission" in writing it was "to purge modern economic science of its alien positivist and mathematical formalist elements and to reconstruct it along consistently causal-realist lines."[2] According to Robert P. Murphy, the book had an "obvious role in the modern revival of Austrian ideas".[3] According to Ludwig von Mises, the book "offers to every intelligent man an opportunity to obtain reliable information concerning the great controversies and conflicts of our age."[4]

According to Salerno, the book Power and Market: Government and the Economy "was originally written as the third volume of Man, Economy, and State, but was published separately eight years later".[5][6] It was reunited with the 4th edition of Man, Economy, and State in 2004 in the volume sub-titled "The Scholar's Edition" from the Ludwig von Mises Institute.[5][2] The author analyzes the negative effects of the various kinds of government intervention, and argues that the State is neither necessary nor useful.

A treatise on economic principles

Rothbard's own Preface to the work summarizes its contents by saying that it "deduces the entire corpus of economics from a few simple and apodictically true axioms: the Fundamental Axiom of action—that men employ means to achieve ends, and two subsidiary postulates: that there is a variety of human and natural resources, and that leisure is a consumers' good."[7]

Chapter 1, "Fundamentals of Human Action", discusses the concept of action, which is purposeful behavior.[8] The social scientist, including the economist, imputes subjective intentions to the objects of study, which are acting human beings.[8] Praxeology is the scientific study of action and consists of all propositions logically derived from the action axiom.[8] Only individuals can act,[9] and a person will act only if they desire a particular state of affairs and believe they have the capacity to bring it about.[9] Man uses means to achieve his ends,[10] and all action takes place in time.[11] Acting man must rank possible ends in order of desirability[12] and allocate the means to fulfill his most highly ranked ends,[13] but he may err due to uncertainty.[9] The means to satisfy wants are goods,[10] which can be consumers' goods or producers' goods.[10] The original factors of production are labor and land,[14] and the value of producers' goods derives from the value that acting man places on the final consumers' goods they produce.[15] The period of production is the time elapsing from the beginning of an action until the end is achieved, which includes working time and maturing time.[11]

Chapter 2, "Direct Exchange", describes interpersonal action and voluntary exchange, which is the assumption made throughout the rest of the book.[16] In voluntary exchange, individuals only engage in a trade if they have a reverse valuation of the goods and if they are aware of each other.[16] This exchange leads to specialization and the division of labor, allowing for more consumption for everyone involved.[17] The price of a good in terms of another is determined by the number of units of the second good that must be offered to receive one unit of the first good in exchange.[18] The equilibrium price is one in which the quantity supplied equals the quantity demanded, and the market tends toward this equilibrium.[19]

Chapter 3, "The Pattern of Indirect Exchange", discusses the limitations of direct exchange, which is exchanging goods directly with another party.[20] Direct exchange can be limited since it requires a coincidence of wants between two parties.[20] If someone wishes to specialize in one area of production, they need to be sure they can find someone who wants their goods at that time.[21] The emergence of indirect exchange increases the flexibility of individuals by allowing them to trade goods for other goods that are more marketable.[21] Over time, the most marketable goods become commonly accepted media of exchange, or money.[22] The use of money enables specialization and economic calculation.[23] As money emerges on a free market, it is traded in terms of weight.[23]

Chapter 4, "Prices and Consumption", begins by explaining how the introduction of a money commodity simplifies transactions as it serves as a medium of exchange.[24] Money prices are generated by the actions of individuals, and must ultimately be explained by reference to individual value scales.[25] Each individual in the market ranks various units of each commodity, including the money commodity, on an ordinal scale of value.[25] The determination of the market supply schedule is also comparable to the barter analysis.[26] The equilibrium price is the price at which quantity supplied equals quantity demanded.[26] All participants to voluntary exchange benefit, and each values what they receive more than what they give up.[27] The marginal utility of money depends largely on the marginal utility of the various goods for which it can be exchanged.[28] To explain the current purchasing power of money, we must explain why people sacrifice valuable goods and services today for units of money, i.e., we need to regress the current value of money back to the original value assigned to it before it became a medium of exchange.[29]

Chapter 5, "Production: the Structure", reviews some of the fundamental principles of action.[30] It explores the concept of the evenly rotating economy (ERE), which is a mental construction of a perfectly predictable economy with no uncertainty, no profits, and only interest based on time preference.[31] Then, it examines the structure of production in a hypothetical world where each good is produced by several completely specific factors[32] and analyzes the distribution of income among the various complementary factors in two cases: joint ownership of the product by the owners of the factors[33] and ownership of the product by capitalists.[34] It concludes that the excess of income earned by capitalists over the sum of payments made to the original factor owners is due to interest and not exploitation or bargaining power.[34] The text also explains the concept of the pure rate of interest and its determination in the ERE.[35]

Chapter 6, "Production: the Rate of Interest and Its Determination", focuses on the pure rate of interest and its determination in the market, taking into account the production structure in a capitalist economy. The pure rate of interest is the premium on present goods that exists in the economy[36] and is determined[37] by subjective time preferences.[38] The capitalists in the production process receive interest income[39] at the intermediate points and not just at the end of the process,[40] and this income is due to their advance payments to factor owners in exchange for future consumer goods.[40] The capitalists decide every period to repeat their gross investments to maintain a production process, and the profitability of a given operation is determined by price spreads and their relation to the prevailing rate of time preference.[39] An individual's marginal rate of time preference depends on their cash balance, both in the present and expected in the future.[41] There is a potential gain from intertemporal trade, and the pure rate of interest will be established by the various individuals' time preferences in the same way that any other price is established.[42]

Chapter 7, "Production: General Pricing of the Factors", explains how prices for unit factor services are determined in the evenly rotating economy (ERE).[43] Capitalists will hire additional productive resources as long as the rental price is lower than the discounted marginal value product (DMVP), which is the present market value of the future marginal value product (MVP).[44] The MVP is determined by the marginal physical product (MPP) times the price of the product,[45] and factors are classified as land, labor, or capital goods based on reproducibility.[46] In the ERE, all productive assets have a capitalized value, so the only incomes are labor and interest on invested financial capital.[47] Even the rental income from land is considered an implicit return on capital investment, as the market value of the land reflects its future rental payments.[47]

Chapter 8, "Production: Entrepreneurship and Change", discusses entrepreneurial profit and loss,[48] the role of entrepreneurship in establishing correct factor prices, and the effects of changes in time preferences on investment and interest rates.[49] A progressing economy is characterized by net aggregate profits and falling interest rates, while a retrogressing economy is characterized by net disinvestment and rising interest rates.[50] The actual market rate of interest is influenced not only by pure interest but also by the likelihood of default or poor returns.[51] Risk refers to outcomes with quantifiable probabilities.[52]

Chapter 9, "Production: Particular Factor Prices and Productive Incomes", discusses factor prices and their determination in a changing economy. The chapter explains that rent is the price paid for hiring a unit of a factor and is equal to the present discounted value of its future rents.[53] In the ERE, only land and labor factors earn net rents.[53] The chapter also discusses the supply curves for land[54] and labor[55] and how they can be upward sloping due to alternative outlets.[54][55] Additionally, the chapter explains that prices determine costs, not vice versa,[56] and that the rental prices of factors are determined by computing the DMVP of a productive factor.[56] Finally, the chapter explains how consumer valuations determine the marginal utility of consumer goods, which ultimately determine the prices of these goods.[56]

Chapter 10, "Monopoly and Competition", argues that consumer preferences drive a free market economy and that individuals have complete control over their bodies and other property.[57] The formation of cartels is similar to the founding of a corporation or merger,[58] and voluntary cartels are inherently unstable.[59] There is no such thing as a "monopoly price,"[60] and the concept of a "perfectly competitive" industry is flawed.[61] Unions restrict output and achieve higher prices, but they are not an example of monopoly.[62] The argument for unions based on zones of indeterminacy shrinks as more people enter the market, and in practice, they often rely on violence to achieve their goals.[63]

Chapter 11, "Money and Its Purchasing Power", explains that the price of money is determined by supply and demand,[64] and its "price" is the vector of its exchange ratios with other goods and services.[65] The purchasing power of money (PPM) is its price,[65] and it is determined by the demand for money.[65] Money is only useful insofar as it possesses purchasing power, but any stock of money can fully function as a medium of exchange.[66] Money would become unnecessary in a world of perfect certainty.[67] The PPM and the rate of interest are not inherently connected.[68] Money is not a measure of value,[69] and price indices are arbitrary. Attempts to stabilize the PPM are undesirable and unworkable.[70]

Chapter 12, "The Economics of Violent Intervention in the Market", highlights the effects of State action on property rights and the economy. Different types of intervention are analyzed, such as autistic, binary, and triangular intervention.[71] The free market maximizes ex ante utilities[72] and has mechanisms to promote ex post fulfillment, while government intervention harms at least one party and distorts the economy.[73] Price controls lead to shortages or surpluses,[74] taxation[75] and government spending distort the economy,[76] and a credit expansion creates a temporary "boom" period followed by a "bust" when the capital structure becomes unbalanced.[77] The chapter challenges the myth that taxes on a firm can be "passed on" to customers[78] and argues that economists should gauge the value of government activities by how much customers spend on products rather than by how much the government spends on them.[79]

Power and Market

Cover of the 1977 edition

Chapter 1, "Defense Services on the Free Market", argues that economists often overlook the importance of property rights and assume that the free market relies on government-provided defense.[80] However, a truly free market society would have voluntary exchange of justly derived property titles, including defense services.[80] The state derives funds through coercive taxation and arrogates a geographical monopoly.[80] Legal scholars could discover the objective properties of a free legal order, including self-ownership and the homesteading principle.[80] In a free society, protection agencies would sell subscriptions and provide services on call, with judges applying a law code that enshrines the non-aggression axiom.[80] The difference between a libertarian society and one under the state is that the former would not have a systematic legalized method of plunder.[80] The notion of limited government is a contradiction, as it is arbitrary to set limits on government once unbridled property rights are abandoned.[80]

Chapter 2, "Fundamentals of Intervention", discusses types of intervention, including autistic, binary, and triangular intervention.[81] The author also explains the direct effects of intervention on utility,[82] including how any intervention necessarily reduces the utility of the affected subjects,[83] and how democracy is not truly voluntary.[84] Additionally, the author argues that private defense agencies can still maximize utility in a free market,[85] and that the market does not necessarily fail to maximize utility due to envy.[86] The chapter concludes with a discussion on utility ex post, in which the author explains how voluntary exchanges in the market usually benefit individuals, while government policies often fail to achieve their intended objectives.[87]

Chapter 3, "Triangular Intervention", discusses various forms of price control, including maximum and minimum price controls, prohibition, and monopoly grants.[88] Rothbard argues that all of the negative effects associated with free market monopolies also apply to government monopolies and cartels.[89] Examples of government intervention in the market include compulsory cartels, licensing, tariffs, immigration restrictions, child labor laws, conscription, government unemployment benefits, antitrust laws, and conservation laws.[90] The author contends that these interventions harm consumers, distort production, and reduce overall output.[90]

Chapter 4, "Binary Intervention: Taxation", argues that society is made up of taxpayers and tax consumers,[91] and all taxation distorts resource allocation. Tax incidence refers to the actual long-term burden of taxation, and no tax can be shifted forward.[92] Income taxes reduce the utility of taxpayers and provide a disincentive to earn income.[92] Direct taxes on consumption merely translate to an income tax,[92] and a tax on accumulated capital is far more destructive than a tax on income.[93] The only objectively just price is the market price,[94] and it is impossible to tax everyone uniformly.[95]

Chapter 5, "Binary Intervention: Government Expenditures", examines government expenditures and distinguishes between pure transfers and resource-using activities.[96] The first category includes government subsidies, which transfer income from the efficient to the inefficient and distort resource allocation.[97] The second category covers government ownership of resources and socialist policies, which have negative economic consequences.[98] The text argues that government ownership of resources distorts incentives, causes shortages, and limits competition, and that socialism results in the misallocation of resources.[98] Additionally, the text highlights the myth of "public" ownership and the inherent inefficiencies of democracy.[98]

Chapter 6, "Antimarket Ethics: a Praxeological Critique", discusses how praxeology, a value-free science, can demonstrate that certain ethical values are either based on false propositions or conceptually impossible to fulfill.[99] The advocate of laissez-faire does not assume that all people always act in their interest but asserts that everyone should have the right to pursue their interests freely.[100] The market economy is a positive sum game where there is a harmony of interests, and the rise of one person's power over another person is a net loss.[101] It is pointless to argue that human rights should trump property rights because all rights are ultimately property rights.[102]

Chapter 7, "Conclusion: Economics and Public Policy", discusses economics and its uses,[103] as well as the failures of welfare economics,[104] the relationship between economics and social ethics,[105] and the market principle versus the hegemonic principle.[106] Economics provides true laws of cause and effect, but its conditional laws are more useful in public policy debates than for businesspeople.[103] Mainstream economists often make value judgments and design policies to achieve ethical goals, even though they claim to be neutral advisors.[104] Economists can play a role in public policy by ruling out meaningless ethical goals, refuting false objections to the market, and explaining the consequences of government intervention and socialism.[105] The market principle and the hegemonic principle are the only two methods of social relations, and their diffent consequences are discussed.[106]

Publishing history

English

  • Rothbard, M.N. (February 2004). Man, Economy & State with Power and Market (2nd ed.). Ludwig von Mises Institute. ISBN 0-945466-30-7, 1,441 pages plus introduction.[1]
  • —— (1993). Man, Economy & State with Power and Market. Auburn, AL: Ludwig von Mises Institute. ISBN 0-8402-1223-2, 987 pages, softcover, 1 volume.[1]
  • —— (1981). Man, Economy & State with Power and Market. New York: Institute for Humane Studies / New York University Press, hardcover ISBN 0-8147-5380-9, softcover ISBN 0-910884-27-7.
  • —— (1962). Man, Economy, and State: A treatise on economic principles. Princeton, NJ: David van Nostrand Company / William Volker Fund, hardcover, 2 volumes.

Japanese

  • Rothbard, M.N. (2001). Tokyo, Japan: Tuttle-Mori Agency, Inc. / Ludwig von Mises Institute, {{cite book}}: Missing or empty |title= (help) softcover.

Czech

  • Rothbard, M.N. (2005). Zásady ekonomie [Principles of Economics]. Translated by Josef Šíma; et al. Prague, Czech Republic: cs:Liberální institut. ISBN 80-86389-27-8, ISBN 4-88359-052-6.

Polish

  • Rothbard, M.N. (2007). Ekonomia wolnego rynku [Free Market Economy]. Warsaw, Poland: Fijorr Publishing. ISBN 978-83-89812-37-7, softcover, 3 volumes.

Portuguese

  • Rothbard, M.N. (2022). Homem, Economia e Estado – com Poder & Mercado [Man, Economy & State with Power and Market]. Translated by Editora Konkin. Rio de Janeiro, Brazil: Editora Konkin, 1,470 pages, 2 volume box.

For Power and Market

English

Russian

  • Power and Market: Government and the Economy. 2002. Hardcover. 402 pages. ISBN 5-901901-06-1.

Portuguese

  • Governo e Mercado: A economia da intervenção estatal. 2012. ISBN 5-901901-06-1.

Notes

  1. 1 2 3 4 5 The original publisher deleted the final eight chapters from the original publication, so the 1962 book is effectively an abridged edition, although published instead as "Volume I".[1]: xliii  In 1970, the abridged chapters were published as the title Power and Market.[1]: xliii  The 2009[1] and later editions restore the chapters to a single volume, combining the discussion of both microeconomics and macroeconomics.

References

  1. 1 2 3 4 5 Rothbard, M.N. (2009) [1962]. Man, Economy, and State with Power and Market (scholars' complete ed.). Boston, MA / Auburn, AL: Ludwig von Mises Institute. ISBN 978-193355027-5. (Rothbard, Murray N. (February 2004). earlier edition. Ludwig von Mises Institute. ISBN 0-945466-30-7, ISBN 0-8402-1223-2)
  2. 1 2 Rothbard, Murray N. (2009). Man, economy, and state with power and market (2nd ed.). Auburn, Alabama: Ludwig von Mises Institute. ISBN 978-1-933550-27-5. OCLC 913031457.
  3. ↑ kanopiadmin (September 6, 2012). "Man, Economy, and State at 50". Mises Institute. Retrieved February 25, 2023.
  4. ↑ kanopiadmin (March 13, 2009). "Mises Reviews Rothbard's Man, Economy, and State". Mises Institute. Retrieved February 25, 2023.
  5. 1 2 David M. Hart, Stephen Davies, David Gordon, Peter Carl Mentzel, George H. Smith, Jason T. Kuznicki, Jim Powell, and Jeffrey A. Tucker (February 28, 2015). "David M. Hart, "On the Spread of (Classical) Liberal Ideas" (March 2015)". Liberty Fund. The final section, Power and Market, appeared later in a separate volume in 1970 published by the Institute for Humane Studies, a spin-off from the now- defunct William Volker Fund.{{cite web}}: CS1 maint: multiple names: authors list (link)
  6. ↑ Salerno, Joseph (March 2009). "Menger's causal-realist analysis in modern economics". The Review of Austrian Economics. 23 (1): 1–16. doi:10.1007/s11138-009-0096-2. S2CID 144695345.
  7. ↑ "Preface to Revised Edition by Muray N. Rothbard". Mises Institute. Retrieved February 25, 2023.
  8. 1 2 3 "The Concept of Action". Mises Institute. Retrieved February 24, 2023.
  9. 1 2 3 "First Implications of the Concept". Mises Institute. Retrieved February 24, 2023.
  10. 1 2 3 "Further Implications: The Means". Mises Institute. Retrieved February 24, 2023.
  11. 1 2 "Further Implcations: Time". Mises Institute. Retrieved February 24, 2023.
  12. ↑ "Ends and Values". Mises Institute. Retrieved February 24, 2023.
  13. ↑ "The Law of Marginal Utility". Mises Institute. Retrieved February 24, 2023.
  14. ↑ "Factors of Production: Labor versus Leisure". Mises Institute. Retrieved February 24, 2023.
  15. ↑ "The Formation of Capital". Mises Institute. Retrieved February 24, 2023.
  16. 1 2 "Types of Interpersonal Action: Voluntary Exchange and the Contractual Society". Mises Institute. Retrieved February 24, 2023.
  17. ↑ "Exchange and the Division of Labor". Mises Institute. Retrieved February 24, 2023.
  18. ↑ "Terms of Exchange". Mises Institute. Retrieved February 24, 2023.
  19. ↑ "Determination of Price: Equilibrium Price". Mises Institute. Retrieved February 24, 2023.
  20. 1 2 "Limitations of Direct Exchange". Mises Institute. Retrieved February 24, 2023.
  21. 1 2 "Some Implications of the Emergence of Money". Mises Institute. Retrieved February 24, 2023.
  22. ↑ "The Emergence of Indirect Exchange". Mises Institute. Retrieved February 24, 2023.
  23. 1 2 "The Monetary Unit". Mises Institute. Retrieved February 24, 2023.
  24. ↑ "Money Prices". Mises Institute. Retrieved February 24, 2023.
  25. 1 2 "Determination of Money Prices". Mises Institute. Retrieved February 24, 2023.
  26. 1 2 "Determination of Supply and Demand Schedules". Mises Institute. Retrieved February 24, 2023.
  27. ↑ "The Gains of Exchange". Mises Institute. Retrieved February 24, 2023.
  28. ↑ "The Marginal Utility of Money". Mises Institute. Retrieved February 24, 2023.
  29. ↑ "The Money Regression". Mises Institute. Retrieved February 24, 2023.
  30. ↑ "Some Fundamental Principles of Action". Mises Institute. Retrieved February 24, 2023.
  31. ↑ "The Evenly Rotating Economy". Mises Institute. Retrieved February 24, 2023.
  32. ↑ "The Structure of Production: A World of Specific Factors". Mises Institute. Retrieved February 24, 2023.
  33. ↑ "Joint Ownership of the Product by the Owners of the Factors". Mises Institute. Retrieved February 24, 2023.
  34. 1 2 "Ownership of the Product by Capitalists: Amalgamated Stages". Mises Institute. Retrieved February 24, 2023.
  35. ↑ "Present and Future Goods: The Pure Rate of Interest". Mises Institute. Retrieved February 24, 2023.
  36. ↑ "Many Stages: The Pure Rate of Interest". Mises Institute. Retrieved February 24, 2023.
  37. ↑ "The Determination of the Pure Rate of Interest: The Time Market". Mises Institute. Retrieved February 24, 2023.
  38. ↑ "Time Preference and Individual Value Scales". Mises Institute. Retrieved February 24, 2023.
  39. 1 2 "The Time Market and the Production Structure". Mises Institute. Retrieved February 24, 2023.
  40. 1 2 "Time Preference, Capitalists, and Individual Money Stock". Mises Institute. Retrieved February 24, 2023.
  41. ↑ "Forces Affecting Time Preferences". Mises Institute. Retrieved February 24, 2023.
  42. ↑ "The Time Structure of Interest Rates". Mises Institute. Retrieved February 24, 2023.
  43. ↑ "Imputation of the Discounted Marginal Value Product". Mises Institute. Retrieved February 24, 2023.
  44. ↑ "Imputation of the Discounted Marginal Value Product". Mises Institute. Retrieved February 24, 2023.
  45. ↑ "The Marginal Physical Product". Mises Institute. Retrieved February 24, 2023.
  46. ↑ "Land and Capital Goods". Mises Institute. Retrieved February 24, 2023.
  47. 1 2 "Capitalization and Rent". Mises Institute. Retrieved February 24, 2023.
  48. ↑ "Entrepreneurial Profit and Loss". Mises Institute. Retrieved February 24, 2023.
  49. ↑ "The Effect of Net Investment". Mises Institute. Retrieved February 24, 2023.
  50. ↑ "The Progressing Economy and the Pure Rate of Interest". Mises Institute. Retrieved February 24, 2023.
  51. ↑ "The Entrepreneurial Component in the Market Interest Rate". Mises Institute. Retrieved February 24, 2023.
  52. ↑ "Risk, Uncertainty, and Insurance". Mises Institute. Retrieved February 24, 2023.
  53. 1 2 "Rent". Mises Institute. Retrieved February 24, 2023.
  54. 1 2 "Supply of Land". Mises Institute. Retrieved February 24, 2023.
  55. 1 2 "Supply of Labor". Mises Institute. Retrieved February 24, 2023.
  56. 1 2 3 "Costs to the Firm". Mises Institute. Retrieved February 24, 2023.
  57. ↑ "Consumers' Sovereignty versus Individual Sovereignty". Mises Institute. Retrieved February 24, 2023.
  58. ↑ "Cartels, Mergers, and Corporations". Mises Institute. Retrieved February 24, 2023.
  59. ↑ "The Instability of the Cartel". Mises Institute. Retrieved February 24, 2023.
  60. ↑ "The Illusion of Monopoly Price". Mises Institute. Retrieved February 24, 2023.
  61. ↑ "Monopolistic Competitive Price". Mises Institute. Retrieved February 24, 2023.
  62. ↑ "Restrictionist Pricing of Labor". Mises Institute. Retrieved February 24, 2023.
  63. ↑ "Some Arguments for Unions: A Critique". Mises Institute. Retrieved February 24, 2023.
  64. ↑ "The Money Relation: The Demand for and the Supply of Money". Mises Institute. Retrieved February 24, 2023.
  65. 1 2 3 "The Determination of Prices: The Goods Side and the Money Side". Mises Institute. Retrieved February 24, 2023.
  66. ↑ "Utility of the Stock of Money". Mises Institute. Retrieved February 24, 2023.
  67. ↑ "Money in the ERE and in the Market". Mises Institute. Retrieved February 24, 2023.
  68. ↑ "The PPM and the Rate of Interest". Mises Institute. Retrieved February 24, 2023.
  69. ↑ "Measurement". Mises Institute. Retrieved February 24, 2023.
  70. ↑ "Stabilization". Mises Institute. Retrieved February 24, 2023.
  71. ↑ "A Typology of Intervention". Mises Institute. Retrieved February 24, 2023.
  72. ↑ "Direct Effects of Intervention on Utility". Mises Institute. Retrieved February 24, 2023.
  73. ↑ "Utility Ex Post: Free Market and Government". Mises Institute. Retrieved February 24, 2023.
  74. ↑ "Triangular Intervention: Price Control". Mises Institute. Retrieved February 24, 2023.
  75. ↑ "Binary Intervention: Taxation". Mises Institute. Retrieved February 24, 2023.
  76. ↑ "Binary Intervention: Government Expenditures". Mises Institute. Retrieved February 24, 2023.
  77. ↑ "Credit Expansion and the Business Cycle". Mises Institute. Retrieved February 24, 2023.
  78. ↑ "Shifting and Incidence: A Tax on an Industry". Mises Institute. Retrieved February 24, 2023.
  79. ↑ "The "Productive Contribution" of Government Spending". Mises Institute. Retrieved February 24, 2023.
  80. 1 2 3 4 5 6 7 "Defenses on the Free Market". Mises Institute. Retrieved February 24, 2023.
  81. ↑ "Types of Intervention". Mises Institute. Retrieved February 24, 2023.
  82. ↑ "Direct Effects of Intervention on Utility". Mises Institute. Retrieved February 24, 2023.
  83. ↑ "Intervention and Conflict". Mises Institute. Retrieved February 24, 2023.
  84. ↑ "Democracy and the Voluntary". Mises Institute. Retrieved February 24, 2023.
  85. ↑ "Utility and Resistance to Invasion". Mises Institute. Retrieved February 24, 2023.
  86. ↑ "The Argument from Envy". Mises Institute. Retrieved February 24, 2023.
  87. ↑ "Utility Ex Post". Mises Institute. Retrieved February 24, 2023.
  88. ↑ "Triangular Intervention". Mises Institute. Retrieved February 24, 2023.
  89. ↑ "Price Control". Mises Institute. Retrieved February 24, 2023.
  90. 1 2 "Product Control: Grant of Monopolistic Privilige". Mises Institute. Retrieved February 24, 2023.
  91. ↑ "The Burdens and Benefits of Taxation and Expenditures". Mises Institute. Retrieved February 24, 2023.
  92. 1 2 3 "The General Sales Tax and the Laws of Incidence". Mises Institute. Retrieved February 24, 2023.
  93. ↑ "The Incidence and Effects of Taxation Part II: Taxes on Accumulated Capital". Mises Institute. Retrieved February 24, 2023.
  94. ↑ "The Just Tax and the Just Price". Mises Institute. Retrieved February 24, 2023.
  95. ↑ "Uniformity of Treatment". Mises Institute. Retrieved February 24, 2023.
  96. ↑ "Binary Intervention: Government Expenditures". Mises Institute. Retrieved February 24, 2023.
  97. ↑ "Government Subsidies: Transfer Payments". Mises Institute. Retrieved February 24, 2023.
  98. 1 2 3 "Resource-Using Activities: Government Ownership versus Private Ownership". Mises Institute. Retrieved February 24, 2023.
  99. ↑ "Introduction: Praxeological Criticism of Ethics". Mises Institute. Retrieved February 24, 2023.
  100. ↑ "Knowledge of Self-Interest: An Alleged Critical Assumption". Mises Institute. Retrieved February 24, 2023.
  101. ↑ "Power Over Nature and Power Over Man". Mises Institute. Retrieved February 24, 2023.
  102. ↑ "Human Rights and Property Rights". Mises Institute. Retrieved February 24, 2023.
  103. 1 2 "Economics: Its Nature and Its Uses". Mises Institute. Retrieved February 24, 2023.
  104. 1 2 "Implicit Moralizing: The Failures of Welfare Economics". Mises Institute. Retrieved February 24, 2023.
  105. 1 2 "Economics and Social Ethics". Mises Institute. Retrieved February 24, 2023.
  106. 1 2 "Market Principle and the Hegemonic Principle". Mises Institute. Retrieved February 24, 2023.
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