The essence of libertarianism is the view that coercive political institutions, such as the state, are justified only insofar as they function to protect each person’s liberty to pursue their own goals and well-being in their own way. Libertarians accordingly argue that any attempt to enforce top-down concepts of social justice or economic equality are fundamentally misconceived. In this book, leading expert Eric Mack provides a rigorous and clear account of the philosophical principles of libertarianism. He offers accounts of three distinctive schools of libertarian thought, which he labels the natural rights approach, the cooperation to mutual advantage approach, and the indirect consequentialist approach. After examining the historical roots of these approaches in the thought of figures such as John Locke and David Hume, he provides illuminating accounts of the foundational arguments and the theories of economic justice offered by Robert Nozick and F.A. Hayek. He then examines a range of other debates, such as those surrounding the nature of the minimal state and those between critics and defenders of libertarianism. This book will be essential reading for anyone interested in political philosophy, political ideologies and the nature of liberty and state authority, from students and scholars to general readers.

The essays in Economic Sophisms have come to be recognized as among the most cogent and persuasive refutations of the major fallacies of protectionism-fallacies that are still with us today and that will continue to crop up as long as the public remains uninstructed. The great lesson that all these essays teach, in one form or another, is the necessity of always looking at economic questions from the point of view of the consumer, rather than that of the producer. With an introduction by Henry Hazlitt, the notes of the French editor, and explanatory comments by the translator designed to elucidate all references that the modern reader might find obscure, this edition contains abundant cross references to the two other works of Bastiat, Selected Essays on Political Economy and Economic Harmonies, also available from the Foundation for Economic Education.

The bestselling citizen's guide to economicsBasic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations.Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

This revised edition of Applied Economics is about fifty percent larger than the first edition. It now includes a chapter on the economics of immigration and new sections of other chapters on such topics as the “creative” financing of home-buying that led to the current “subprime” mortgage crisis, the economics of organ transplants, and the political and economic incentives that lead to money earmarked for highways being diverted to mass transit and to a general neglect of infrastructure. On these and other topics, its examples are drawn from around the world. Much material in the first edition has been updated and supplemented. The revised and enlarged edition of Applied Economics retains the easy readability of the first edition, even for people with no prior knowledge of economics.

Providing students of economics, politics, and policy with a concise explanation of public choice, markets, property, and political and economic processes, this record identifies what kinds of actions are beyond the ability of government. Combining public choice with studies of the value of property rights, markets, and institutions, this account produces a much different picture of modern political economy than the one accepted by mainstream political scientists and welfare economists. It demonstrates that when citizens request that their governments do more than it is possible, net benefits are reduced, costs are increased, and wealth and freedom are diminished. Solutions are also suggested with the goal to improve the lot of those who should be the ultimate sovereigns in a democracy: the citizens.

The state is often ascribed a special sort of authority, one that obliges citizens to obey its commands and entitles the state to enforce those commands through threats of violence. This book argues that this notion is a moral illusion: no one has ever possessed that sort of authority.

The greatest obstacle to sound economic policy is not entrenched special interests or rampant lobbying, but the popular misconceptions, irrational beliefs, and personal biases held by ordinary voters. This is economist Bryan Caplan's sobering assessment in this provocative and eye-opening book. Caplan argues that voters continually elect politicians who either share their biases or else pretend to, resulting in bad policies winning again and again by popular demand.\n Boldly calling into question our most basic assumptions about American politics, Caplan contends that democracy fails precisely because it does what voters want. Through an analysis of Americans' voting behavior and opinions on a range of economic issues, he makes the convincing case that noneconomists suffer from four prevailing biases: they underestimate the wisdom of the market mechanism, distrust foreigners, undervalue the benefits of conserving labor, and pessimistically believe the economy is going from bad to worse. Caplan lays out several bold ways to make democratic government work better--for example, urging economic educators to focus on correcting popular misconceptions and recommending that democracies do less and let markets take up the slack.\n The Myth of the Rational Voter takes an unflinching look at how people who vote under the influence of false beliefs ultimately end up with government that delivers lousy results. With the upcoming presidential election season drawing nearer, this thought-provoking book is sure to spark a long-overdue reappraisal of our elective system.

A forgotten book by one of history's greatest thinkers reveals the surprising connections between happiness, virtue, fame, and fortune.Adam Smith may have become the patron saint of capitalism after he penned his most famous work, The Wealth of Nations. But few people know that when it came to the behavior of individuals—the way we perceive ourselves, the way we treat others, and the decisions we make in pursuit of happiness—the Scottish philosopher had just as much to say. He developed his ideas on human nature in an epic, sprawling work titled The Theory of Moral Sentiments.Most economists have never read it, and for most of his life, Russ Roberts was no exception. But when he finally picked up the book by the founder of his field, he realized he’d stumbled upon what might be the greatest self-help book that almost no one has read.In How Adam Smith Can Change Your Life, Roberts examines Smith’s forgotten masterpiece, and finds a treasure trove of timeless, practical wisdom. Smith’s insights into human nature are just as relevant today as they were three hundred years ago. What does it take to be truly happy? Should we pursue fame and fortune or the respect of our friends and family? How can we make the world a better place? Smith’s unexpected answers, framed within the rich context of current events, literature, history, and pop culture, are at once profound, counterintuitive, and highly entertaining.

On Wall Street, in the culture of high tech, in American government: Libertarianism—the simple but radical idea that the only purpose of government is to protect its citizens and their property against direct violence and threat— has become an extremely influential strain of thought. But while many books talk about libertarian ideas, none until now has explored the history of this uniquely American movement—where and who it came from, how it evolved, and what impact it has had on our country.\n In this revelatory book, based on original research and interviews with more than 100 key sources, Brian Doherty traces the evolution of the movement through the unconventional life stories of its most influential leaders— Ludwig von Mises, F.A. Hayek, Ayn Rand, Murray Rothbard, and Milton Friedman—and through the personal battles, character flaws, love affairs, and historical events that altered its course. And by doing so, he provides a fascinating new perspective on American history—from the New Deal through the culture wars of the 1960s to today's most divisive political issues. Neither an exposé nor a political polemic, this entertaining historical narrative will enlighten anyone interested in American politics.

Alexis de Tocqueville (1805-59) came to America in 1831 to see what a great republic was like. What struck him most was the country's equality of conditions, its democracy. The book he wrote on his return to France, Democracy in America, is both the best ever written on democracy and the best ever written on America. It remains the most often quoted book about the United States, not only because it has something to interest and please everyone, but also because it has something to teach everyone.When it was published in 2000, Harvey Mansfield and Delba Winthrop's new translation of Democracy in America—only the third since the original two-volume work was published in 1835 and 1840—was lauded in all quarters as the finest and most definitive edition of Tocqueville's classic thus far. Mansfield and Winthrop have restored the nuances of Tocqueville's language, with the expressed goal "to convey Tocqueville's thought as he held it rather than to restate it in comparable terms of today." The result is a translation with minimal interpretation, but with impeccable annotations of unfamiliar references and a masterful introduction placing the work and its author in the broader contexts of political philosophy and statesmanship.

Robert A. Heinlein was the most influential science fiction writer of his era, an influence so large that, as Samuel R. Delany notes, "modern critics attempting to wrestle with that influence find themselves dealing with an object rather like the sky or an ocean." He won the Hugo Award for best novel four times, a record that still stands. The Moon is a Harsh Mistress was the last of these Hugo-winning novels, and it is widely considered his finest work.It is a tale of revolution, of the rebellion of the former Lunar penal colony against the Lunar Authority that controls it from Earth. It is the tale of the disparate people--a computer technician, a vigorous young female agitator, and an elderly academic--who become the rebel movement's leaders. And it is the story of Mike, the supercomputer whose sentience is known only to this inner circle, and who for reasons of his own is committed to the revolution's ultimate success.The Moon is a Harsh Mistress is one of the high points of modern science fiction, a novel bursting with politics, humanity, passion, innovative technical speculation, and a firm belief in the pursuit of human freedom.The Moon is a Harsh Mistress is the winner of the 1967 Hugo Award for Best Novel.

The first published novel from the controversial Nobel Prize winning Russian author of The Gulag Archipelago.In the madness of World War II, a dutiful Russian soldier is wrongfully convicted of treason and sentenced to ten years in a Siberian labor camp. So begins this masterpiece of modern Russian fiction, a harrowing account of a man who has conceded to all things evil with dignity and strength. First published in 1962, One Day in the Life of Ivan Denisovich is considered one of the most significant works ever to emerge from Soviet Russia. Illuminating a dark chapter in Russian history, it is at once a graphic picture of work camp life and a moving tribute to man’s will to prevail over relentless dehumanization.Includes an Introduction by Yevgeny Yevtushenkoand an Afterword by Eric Bogosian