Over a million copies sold! A fundamental influence on modern libertarianism, this classic guide to the basics of economic theory defends capitalism and the free market from economic myths that persist to this day.“A magnificent job of theoretical exposition.”—Ayn RandConsidered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt wrote Economics in One Lesson in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy.Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than fifty years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong—and strongly reasoned—anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.

2021 Choice Outstanding Academic Title\\nIn this timely and provocative book, Damon Root reveals how Frederick Douglass’s fight for an antislavery Constitution helped to shape the course of American history in the nineteenth century and beyond. At a time when the principles of the Constitution and Declaration of Independence were under assault, Frederick Douglass picked up their banner, championing inalienable rights for all, regardless of race. When Americans were killing each other on the battlefield, Douglass fought for a cause greater than the mere preservation of the Union. “No war but an Abolition war,” he maintained. “No peace but an Abolition peace.” In the aftermath of the Civil War, when state and local governments were violating the rights of the recently emancipated, Douglass preached the importance of “the ballot-box, the jury-box, and the cartridge-box” in the struggle against Jim Crow.\\nFrederick Douglass, the former slave who had secretly taught himself how to read, would teach the American people a thing or two about the true meaning of the Constitution. This is the story of a fundamental debate that goes to the very heart of America’s founding ideals—a debate that is still very much with us today.

A comprehensive and authoritative exploration of Bitcoin and its place in monetary historyWhen a pseudonymous programmer introduced “a new electronic cash system that’s fully peer-to-peer, with no trusted third party” to a small online mailing list in 2008, very few people paid attention. Ten years later, and against all odds, this upstart autonomous decentralized software offers an unstoppable and globally accessible hard money alternative to modern central banks. The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications.While Bitcoin is an invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Author Saifedean Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt. Exploring what gave these technologies their monetary role, and how most lost it, provides the reader with a good idea of what makes for sound money, and sets the stage for an economic discussion of its consequences for individual and societal future-orientation, capital accumulation, trade, peace, culture, and art. Compellingly, Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes, nor is it coincidental that monetary collapse has usually accompanied civilizational collapse.With this background in place, the book moves on to explain the operation of Bitcoin in a functional and intuitive way. Bitcoin is a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, thus allowing its users to utilize the Internet to perform the traditional functions of money without having to rely on, or trust, any authorities or infrastructure in the physical world. Bitcoin is thus best understood as the first successfully implemented form of digital cash and digital hard money. With an automated and perfectly predictable monetary policy, and the ability to perform final settlement of large sums across the world in a matter of minutes, Bitcoin’s real competitive edge might just be as a store of value and network for the final settlement of large payments―a digital form of gold with a built-in settlement infrastructure.Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a fascinating exploration of the ramifications of voluntary free market money. As it challenges the most sacred of government monopolies, Bitcoin shifts the pendulum of sovereignty away from governments in favor of individuals, offering us the tantalizing possibility of a world where money is fully extricated from politics and unrestrained by borders.The final chapter of the book explores some of the most common questions surrounding Bitcoin: Is Bitcoin mining a waste of energy? Is Bitcoin for criminals? Who controls Bitcoin, and can they change it if they please? How can Bitcoin be killed? And what to make of all the thousands of Bitcoin knockoffs, and the many supposed applications of Bitcoin’s ‘block chain technology’? The Bitcoin Standard is the essential resource for a clear understanding of the rise of the Internet’s decentralized, apolitical, free-market alternative to national central banks.

New Edition, with new introduction! Murray N. Rothbard's great treatise Man, Economy, and State and its complementary text Power and Market, are here combined into a single edition as they were written to be. It provides a sweeping presentation of Austrian economic theory, a reconstruction of many aspects of that theory, a rigorous criticism of alternative schools, and an inspiring look at a science of liberty that concerns nearly everything and should concern everyone. The Mises Institute's new edition of Man Economy, and State, united with its formerly sundered companion volume Power and Market, is a landmark in the history of the Institute. It takes this book out of the category of underground classic and raises it up to its proper status as one of the great economic treatises of all time, a book that is essential for anyone seeking a robust economic education. This new edition will take your breath away with its beauty and quality. It's remarkable that a book this thick could lay so flat and be so durable with super-solid binding. It somehow turns out not to be unweildy. Get it with the Study Guide and you will have what you need. The captivating new introduction by Professor Joseph Salerno that frames up the Rothbardian contribution in a completely new way, and reassesses the place of this book in the history of economic thought. In Salerno's view, Rothbard was not attempting to write a distinctively "Austrian" book but rather a comprehensive treatise on economics that eschewed the Keynesian and positivist corruptions. This is what accounts for its extraordinarily logical structure and depth. That it would later be called Austrian is only due to the long-lasting nature of the corruptions of economics that Rothbard tried to correct. For years, the Mises Institute has kept it in print and sold thousands of copies in a nice paperback version. Then we decided to take a big step and put out an edition worthy of this great treatise. It is the Scholar's Edition of Man, Economy, and State -an edition that immediately became definitive and used throughout the world. The footnotes (which are so brilliant and informative!) are at the bottom of every page. The index is huge and comprehensive. The binding is impeccable and its beauty unmatched. \nStudents have used this book for decades as the intellectual foil for what they have been required to learning from conventional economics classes. In many ways, it has built the Austrian school in the generation that followed Mises. It was Rothbard who polished the Austrian contribution to theory and wove it together with a full-scale philosophy of political ethics that inspired the generation of the Austrian revival, and continues to fuel its growth and development today. \nFrom Rothbard, we learn that economics is the science that deals with the rise and fall of civilization, the advancement and retrenchment of human development, the feeding and healing of the multitudes, and the question of whether human affairs are dominated by cooperation or violence. \nEconomics in Rothbard's wonderful book emerges as the beautiful logic of that underlies human action in a world of scarcity, the lens on how exchange makes it possible for people to cooperate toward their mutual betterment. We see how money facilitates this, and allows for calculation over time that permits capital to expand and investment to take place. We see how entrepreneurship, based on real judgments and risk taking, is the driving force of the market. \nWhat's striking is how this remarkable book has lived in the shadows for so long. It began as a guide to Human Action, and it swelled into a treatise in its own right.

The great book first appeared in German in 1940 and then disappeared, only to reappear in English in 1949. It was a sensation, the largest and most scientific defense of human freedom ever published. And now, in 2010, the seemingly impossible has happened: Human Action, the masterwork of the ages, is in a pocketbook edition at a ridiculously low price.History might record that this edition is the one that changed the world. Mises's fantastic and timeless treatise has never been in a more portable, giftable edition.Just imagine: giving or receiving this gem, this treasure, as a stocking stuffer!This is not a reduction. It is the full treatise from front to back, the mind-blowing explanation of the economics of freedom, right in the palm of your hand.Stock up! We've prepared for mass distribution.

In the beginning, there was Menger. It was his Principles of Economics that reformulated — and really rescued — economic science from the theoretical errors of the old classical school.Menger set out to elucidate the precise nature of economic value, and to root economics firmly in the real-world actions of individual human beings. In Principles of Economics, he advances the theory that the marginal utility of goods is the source of their value, rather than the labor inputs that went into making them. The implication of this theory is that the individual mind is the source of economic value — a point that touched off the marginalist revolution and started a departure from the flawed classical view of economics.For this reason, Carl Menger (1840–1921) is considered to be the founder of the Austrian School of economics. Principles of Economics is the book that Ludwig von Mises said turned him into a real economist. What's striking is how, nearly a century and a half later, the book still retains the incredible power of both its prose and its relentless logic.The Mises Institute's new edition features a new foreword by Peter G. Klein, which summarizes Menger's contribution and places him in the history of ideas. Klein also explains Menger's continued relevance in present times. F.A. Hayek contributes the introduction.Economics students still say that it is the best introduction to economic logic ever written. The book also deserves the status of a seminal contribution to science in general. Truly, no one can claim to be well read in economics without having mastered Menger's argument.To search for Mises Institute titles, enter a keyword and LvMI (short for Ludwig von Mises Institute); e.g., Depression LvMI