Julian L. Simon was an economist who showed how capitalism and population growth have been hugely beneficial for the standard of living of people all over the world. His book The Ultimate Resource is highly recommended for all anarcho-capitalists. For those who have not read it and would like to hear the main ideas from the man himself, check out the following video interview:
Jakub Wisniewski‘s book Libertarian Quandries is a thoughtful and accurate account of the libertarian ethical system. Though the language is a bit academic at times, the chapters are short and pithy. This makes the book an excellent choice for those who are familiar with libertarianism and want to take their understanding and arguments to the next level.
Wisniewski addresses a wide range of objections to libertarianism, be they economic, ethical, or simply a question of what is practical. Similarly, he mounts a calm but relentless attack on arguments in favor of government. Ancaps will appreciate his consistent anarchist message, while libertarians who are still holding on the idea of limited government will find some interesting food for thought.
The term capital is used in different ways in different contexts. In investment, it is how much wealth a person has. In business, it is the sum of your assets, or assets minus liabilities. In some economic contexts, it is any durable good that is used to produce other goods. In certain economic contexts, capital consists of anything that enhances your ability to perform economically useful work. So, anything that makes you productive would be considered capital. Some people prefer other definitions that exclude things like land and labor.
The common theme is that capital is something that people can use to do what they want to do. Continue reading →
In his book, A Spontaneous Order: The Capitalist Case for a Stateless Society, Chase Rachels does an excellent job conveying insights from both libertarianism and economics. He uses clear explanations of basic concepts and persuasive examples for applications. He relentlessly identifies aggression as the root cause of society’s problems, and the state as the primary source of aggression. Most importantly, the book is permeated by a Rothbardian hatred of the state, which will make it an enjoyable read for any ancap.
Rachels makes frequent use of long passages quoted from other works. Thankfully these are drawn from some of the best sources on libertarianism and economics: Continue reading →
I really like technology, and most other people do too. That’s not surprising because technology empowers us to do the things we want to do. Like fly around over the ocean. Or read a blog.
Quite literally, technology gives you freedom. Without technology you have to walk around naked everywhere. With technology, you can wear a jacket when the weather is cold or ride a train to get places.
Science is cool, too. It helps create new and better technology. Plus, it is fun to know how the universe works. Without science, the rate at which technology can improve is greatly diminished. So if you love freedom you should also be a supporter of science and technology. They free us from the constraints of nature and make life better in oh-so-many ways.
Ludwig von Mises’ last book is an examination of social sciences as they are and as they should be. Mises characteristically spends time excoriating historians who pretend to be economists. His main effort, however, is on the proper delineation between psychology, economics, thymology, and, of course, history.
For those who have read Human Action, the distinction between historical science and economic science is well known. When a so-called economist models the price of onions in Venice in the 1850s, he is not furthering economic knowledge, but simply using mathematics to relate what happened in the past. That this work provides no economic insight and has no predictive power is a central theme of Theory and History.
Furthermore, Mises attacks supposed economic theories that are actually theories of history, and bad ones at that. He embarrasses Marxism for its foundational beliefs that technology determines the social state of affairs and that history is on an inevitable trend towards a final state of socialism. With his typical dry humor, Mises tears apart collectivist ideologies, though some may seem obscure to a modern reader.