Index

Ability and earnings, 308

Ability to pay, 179–85

Abramson, A.G., 311n

Adulteration, 52, 53n

Advertising, 24–25

Alexander, George J., 52n

Alienation, 271–72

Allen, Harry Kenneth, 9, 170n, 182–83

Anderson, Martin, 226n

Altruism, 276–77

Anarchism, 301

Antitrust laws, 71–75

Arrow, Kenneth J., 294

Austrian School of economics, 114

time, 153n, 155

vs. neoclassical economics, 78n

Barber, Thomas H., 49n, 257n

Barnard, B.W., 100n

Bargaining power, 283n

Barnett, Randy, xi

Basing-point system, 75–76

Bastable, C.F., 58n

Bastiat, Frédéric, 57n

Bauer, Peter Tomás, 51n, 120n, 311n

Beggars, 275n

Benefit principle of taxation, 179n, 189n, 190–94, 196n, 202n

Benson, Bruce, xi

Betting, 287n

Blitz, Rudolph C., 38n

Blum, Walter J., 178n, 180, 181n, 186n, 264n

Böhm-Bawerk, Eugen von

critique of Georgist economics, 155n

Brehm, C.T., 211n

Brown, Harry Gunnison, 111n

Brozen, Yale, 68n, 211n

Bimetallism, 34–35

Black markets, 30–31, 41, 229

Bicanic, Rudolf, 230n

Bribery, 31n, 95–97

Buchanan, James M., x

Business cycles, 253

Calhoun, John C., 16–18, 21n, 105, 245n

Capital, 122n

Caplan, Bryan, xiii

Cartels, 72–73

compulsory, 48, 55

Cash balance, 109n, 122n

Calculation, economic, 222–23, 229n, 317–18

Caste system, 16n

Catholic thought, 289–90

Chamberlin, Edward Hastings, 306

Champagne, fairs of, 5

Charity, 212, 268, 272–75, 308–09

Checks and balances, 8

Chicago School, 150

Chodorov, Frank, 12n, 104n, 115n, 162, 185n, 219n

Civil Aeronautics Board, 49n

Civil disobedience, 241

Clear and present danger, 54n

Coercion, 280–83, 300–01

See also Government

Coinage

private, 98–100

Coleman, D.C., 66n

Competition

pure, 306n

See also Market economy

Conant, Charles A., 100n

Conceptual realism, 233n

Conflict

intervention and, 115–19

See also Government

Conscription, 67

Constitutions, 245n

Consumers

choice, 24, 255, 278–79

dictatorship and, 257–60

See also Entrepreneurship; Market economy

Consent, majority, 20–21

Cooley, Oscar W., 64–65

Co-operation, 73

peaceful, 279

Co-operatives, 206n, 234

Copyrights, 87n

See also Patents

Corporations, 98, 206n, 235n, 307

Costs

principle, 196–97

Counterfeiting, 99, 203n

Cox, J.H., 87n

Curtiss, William Marshall, 61n

Davidson, Clara Dixon, 266

Deflation, 113n

Defense, free-market, 1–10, 21–22, 54, 204–05

Demand, 8

curve, 84n

elasticity, 84n, 117

Democracy, 19–21, 233–45

classical, 236–39

modern, 239–40

peaceful change and, 241–45

socialism and, 235–36

Dewey, Donald, 76n

Dewing, Arthur Stone, 93n

Director, Aaron, 175n

Distribution

problem of, 108–09

Diversity, 263

Donisthorpe, Wordsworth, 53n

Downs, Anthony, 47n

Due, John F., 122n, 132n, 143n, 179, 182n, 294

Econometrics, 312

Economic

means, the, 208

power, 280–83

Economics

growth, 289

neoclassical, 78n

public choice, x

public policy and, 311–23

welfare, 314–16

Eminent domain, 93–95

Entrepreneurs, 79n, 94n

Entrepreneurship, 267

Egalitarianism, 188n, 262–66

Envy, 22–23

Equality

before the law, 172–75, 265n

of opportunity, 264–65

Ethics

antimarket, 251–310

economics and, 314–19

impossible, 128n, 177n

market and, 170

Eudaemonism, 310n

Experts, 25–26, 255

Exploitation, 306

Factory Acts, 66n

Farm program, 321–22

Farrer, Lord, 37n

Fees, 201n

Fines, 108n

Fire in crowded theater, 293

Fisheries, 81n

Fisher, Herbert W., 122n, 135n

Fisher, Irving, 122n, 124

consumption tax, 134–37

Fisher, J. Greevz, 203

Forecasting, 311–12

Forests, 80, 85–87

Franchises, 92

Fraud, 299–300, 53n

Freedom

Left and Right, 14n

of contract, 298–301

of speech, 293

to starve, 272

to steal, 296

Free market. See Market economy

French, railroads, 219n

Friedman, Milton, 51n

minimum wage, 68n

Gabor, André, 78n

Gaffney, Mason, 85n

Gambling, 287–88

George, Henry, 56n, 57n, 58, 94–95, 150–68

Gerrymandering, 236–37

Goode, Richard, 315n

Goodman, Paul, 66n, 225n

Goods

exchangeable, 119, 277, 304–05

nonexchangeable, 278

Government

activity, 211n, 291n

on business basis, 215–17

defense, 224

expenditures, 103–05, 121n, 207–49

gifts to, 199–206

investment, 213

lending, 228

national product and, 246–49

ownership, 84n, 213–26, 230–33, 291

sales, 248n

schools, 223, 225

services, 213–14, 219n

shortages and, 214

streets, 292–93

uniformity, 222n

world, 5

Grant, Phil, 155n

Groves, Harold M., 133, 140n, 182

Grazing, 81, 166–67

Gresham’s Law, 34–35, 37n, 99

Haley, Bernard Francis, ed., 120n, 207n

Hansbrough, H.C., 86n

Harper, Floyd Arthur, 231–32, 261, 275n

Harriss, Clement Lowell, 207, 120n

Hayek, Friedrich August, xi, 174n, 220n

calculation, 230n

competition, 72n

maximum-hour laws, 43n

Hays, Samuel P., 167n, 179n

Hazlitt, Henry, xi, 109n, 211n

Heath, Spencer, 157n, 158n, 179n, 235n

Hedonism, 310n

Hegemonic relations

principle of, 319–23

Herbert, Auberon, 10, 203

Hill, James J., 86

Hoff, 230n

Holmes, Oliver Wendell, 293

Homestead principle, 80, 81n, 163, 166n, 167, 309–10

Hoppe, Hans-Hermann, xi–xii

Human rights, 293

Hume, David, 109n

Hunter, Merlin Harold, 9, 170n, 182–83

Hutt, William Harold

child-labor laws, 66n

collective bargaining, 283n

consumers’ sovereignty, 73

maximum-hour laws, 43n

psychic income, 277n

Income

averaging, 133n

Infant industry argument, 59–61, 89

Inflation, 112n

causes, 25, 112

effects, 107n

Infringement, 297

Insurance, 6, 268

regulations, 70

Interest

George’s view, 156n

International trade, theory of, 55–56

Intervention

autistic, 12–13, 14n

binary, 12–14, 48n, 70n, 168n, 103–249

cumulative, 321–22

triangular, 12–13, 14n, 29–101

Jasay, Anthony de, xii

Jewkes, John, 311n

Jouvenel, Bertrand de, 42n, 149n

Judiciary, independent, 240

Jungle, the, 278–80, 285

Kalven, Harry, Jr., 178n, 180, 181n, 186n, 264, 265n

Kessel, Reuben A., 51n

Keynesian system

economics, 213

Knight, Frank Hyneman, 163–64, 308

attack on Spencer, 310n

land, 156n

single tax, 161n, 164n

Kolko, Gabriel, 97n, 148n

Kuznets, Simon S., 246

La Boétie, Etienne de, 42n, 241n

Labor

prison, 108n

unions, 54n, 66n

Laissez faire, 2–3, 10, 294–310

Land

distribution, 158n

feudal, 165–67

speculation, 156n

value, 85n, 153–54

Law

of equal freedom, 174, 266, 295–97, 309

rule of, 174n

Laws

child labor, 65–66

closing, 69

compulsory attendance, 66, 226n

conservation, 76–87

emigration, 62n

immigration, 61–65, 100–01

legal tender, 37

maximum hour, 42–43

minimum wage, 68

usury, 38–39

Leasing, 82

Lebensraum, 100–01

Legal tender. See Laws

Leeman, Wayne, 161n

Leisure

consumer good, 277

marginal utility, 119

Leoni, Bruno, 5n, 290n

Levy, J.H., 10n, 204n

Liability, limited, 98

Libertarian Law Code, 7n

Licensing, 48–50, 96n, 51n, 212n

Lippmann, Walter, 98

Long, Millard F., 38

Luck, 287–88

Lumpy factors, 307

Machlup, Fritz, 47n, 49

Mackay, Thomas, 211, 219n

Majority rule

contradictions of, 233–37

Marginal cost pricing, 221

Marginal utility

productivity, 220n, 301–10

Market economy

penalties on, 69–70

principle of, 319–23

protection of, 1–10, 21, 54, 204–05

purely free market, 204n

Markets, artificial, 229n

Marshall, Alfred, 288n

Marxism, 16

Materialism, 275–78

McCulloch, John Ramsay, 179

McGuire, Martin C., xii

Means and ends, 252n

political and economic, 260n

Measurement

quantitative, 117n

Middle Ages, 269–70

Milenkovich, Deborah D., 230n

Mill, John Stuart, 123–24

Millar, Frederick, 219n

Miller, James C. III, 67n

Minorities, 234n

Mint, monopoly of, 224

Mises, Ludwig von, xi, 37n, 76n, 185n, 220n, 230n, 256n, 260n, 275

exchange rates, 34

government intervention, 221

government spending, 217n

immoral choices, 257

infant industries, 60–61

land ownership, 167–68

model building, 257n

progressives, 24

tax loopholes, 174–75

Mitchell, Wesley Clair, 24

Model-building, 257n

Molinari, Gustave de, 75n, 203

Monopoly and competition, 44n, 71–72, 97–98, 253–54

antitrust laws, 71–75

grants, 43–101

prices, 44, 84n, 253–54

privileges, 97n

profit and gain, 45–46

Morality

and choice, 53n, 257–60

and human nature, 260–62

Morris, Newbold, 212n

Morse, Sidney H., 200n

Musgrave, Richard Abel, 111n

National product statistics, 246–49

Natural liberty, 295–98

Neighborhood effects, 246n

Nock, Albert Jay, 12n, 285–86

Nove, Alec, 107n

Oliver, Henry M., Jr., 294–309

Olson, Mancur, xii

Oppenheimer, Franz, 11–12, 166n

Organized crime, 41n

Patents, 87–92

Paterson, Isabel, 73–74, 232n, 275n

Pearce, I.F., 78n

Peasants, medieval, 269n

Peddlers, outlawing, 69, 212n

Peffer, E. Louise, 81n, 86, 87n

Peltzman, Sam, 49n

Perry, Arthur Latham, 57n, 58n

Peterson, John M., 68n

Philbrook, Clarence, 177n, 315n

Pinchot, Gifford, 86

Planning, 107n

Plant, Arnold, 90–91

Poirot, Paul L. 64–65, 291n

Political means, 11–12, 208

Poor relief, 211–12

Population, 63–64, 270–71

Post offices, 219n, 224

Poverty, 272–75

Power, 280–87

over man, 284–87

over nature, 284–87

Praxeology

ethics and, 251–310

Predictability, 290

Preferences

demonstrated, 41n

Prices

control, 29–40, 317n, 319

restrictionist, 50, 62–68, 83–84

Priorities and allocations, 42

Profits and losses, 127

altruist view, 277n

capital gains, 128–34

capital values in changing economy, 129n

Prohibition, 40–43

Property

rights, 1–2, 81n, 94n, 115n, 291–94, 302

Proportional representation, 237–38

Proudhon, Pierre Joseph, 323

Public

interest, 299n

opinion, 16n

ownership, 230–33

utilities, 92–93

Purchasing power of money (PPM), 286

Quality

standards, 50–55

Railroads, 219n

grants, 85–86

Rand, Ayn, xi

Rationing, 41–42

Read, Leonard Edward, 275n

Realism, 315n

Report requirements, 69–70

Representation, 236ff

Republics, 20n, 240n

Resources

depletable, 78n

Rickenbacker, William F., 37n

Robbins, Lionel, 185n

Robinson, Joan, 306

Rogers, Lindsay, 19n

Rommen, Heinrich, 290, 291n

Roosevelt, Theodore, 86

Rothbard, Murray Newton, 5, 22n, 27n, 108n, 214n, 263n

Man, Economy, and State, 1, 2, 9n, 27n, 71n, 103n, 207n, 254n, 306n

monopoly theories, 44n

patents and copyrights, 87n

praxeology and economics, 311n

railroad, French, 219n

rights, 291n

single tax, 71n

“welfare economics,” 314n

Rousiers, Paul de, 74–75

Roy, Ralph Lord, 278n

Sacrifice

equal, 186–87

minimum, 187–89

principle, 185–90, 202n

Safety codes, 53–55

Sargent, Noel, 72n, 74n, 76n, 283n

Saving, Thomas R., 211n

Savings

uncertainty and, 267

Schumpeter, Joseph, 24–25, 236n

Scott, Anthony, 76n, 77n, 78n, 79n, 80n, 81n, 82n, 83n

Scoville, John W., 72n, 74n, 76n, 283n

Securities and Exchange Commission, 53, 301

Security, 267–69

Self-interest, knowledge of, 254–56

Selfishness, 275–78

Seligman, Edwin Robert Anderson, 115n, 143n, 180

Sennholz, Mary, ed., 47n, 108n, 275n, 314n

Shoup, Carl Sumner, ed., 111n

Silberman, Charles E., 269n

Small business costs, 70n

Simon, William M., 76n

Smith, Adam, 170–72, 179, 200n

Smith, Bradford Bixby, 187n

Social

benefits, 226n

costs, 226n, 315

Darwinism, 278–80

Democrats, 234n

power, 286

Social security, 225

Socialism, 226–30

democracy and, 235n

Society of status, 269–72

Soviet Russia, 229

Spooner, Lysander, 100n

Spencer, Herbert, 100n, 204, 265–66, 295–97, 309, 310n

State

human nature and the, 289–91

power, 286

Stewart, Charles T., Jr., 68n

Stigler, George Joseph, 53n

licensing, 49n

Stock market, 230n

Stringham, Edward, ed., xii, xiii

Stromberg, Joseph, x

Subsidies, 47n, 109n, 208–12

Subway, 221n

Sunstein, Cass R., xii

Supreme Court, 4

Tariff, 55–61, 83n, 100

Taussig, Frank W., 59n

Tax

capitalization, 140–43

evasion, 172, 203n

exemption, 173–74

illusion, 150

the just, 168–71

loopholes, 174–75

single, 151–68

Taxation, 2, 8, 14–16, 104n, 105–206

ability to pay and, 178–85, 189n

benefit principle, 179n, 189n, 190–94, 196n, 202n

costs principle, 196–97

justice and, 170

neutral, 108, 170, 190, 198–99

progressive, 145–48, 124n, 137n

revenue, 198

sacrifice and, 185–90

shifting and incidence, 110ff

voluntary, 200n, 203–06

wages, 125

Taxes

burdens and bounties, 151n

capital, accumulated, 132n, 137–45

capital gains, 128–37

chain store, 69

consumption, 115–16, 123n, 124–25, 126, 134–37

corporate, 69, 113, 125–27

cost of collection, 170–72

equal, 184, 194–97

excess profits, 127–28

excise, 111n, 116–18

fictitious, 105n

gift, 139

income, 115, 118–37, 128n, 175–78

inheritance, 139

location and, 144

poll, 201n

property, 139–44

sales, 110–16, 137n

savings, 124n

uniform, 128n, 132n, 172–78

on wealth, 144–45

withholding, 70n

Thaler, Richard H., xii

Thomas, Dana Lee, 212n

Thoreau, Henry David, 204

Timber, 80n

Time

Georgist view of, 153n

preference, 120–21, 78n, 124n

Tolstoy, Leo, 260

Tolstoyans, 205

Traffic-manager analogy, 288

Transfer payments and subsidies, 208–12

Tucker, Benjamin R., 95n, 266n

Tuerck, David, 56n

Tullock, Gordon, x, 81n

Underdeveloped countries, 288–89

Unemployment

relief, 69, 212

United States Steel Corp., 76n

Utility, 15–28

of money, 185–88

theory, 185n

Utilitarianism, 258n, 260n

Vagrancy laws, 73n

Vining, Rutledge, 313n

Violence and power, 280–87

Voting, 24–27, 202–03, 242–45

tax, 194, 201–03

Wagner-Taft-Hartley Act, 68

Walker, David, 315n

Walker, Francis Amasa, 200n

Wards, 309

Warren, William F., 199–200

Water shortage, 214

Weinstein, James, 97n

Welfare economics, 314–16

Worst on top, 220n

Yeager, Leland Bennett, 56n, 153n

Yugoslavia, 230

Zarnowitz, Victor, 312n