David Ricardo and T. R. Malthus shared an endearing friendship despite a contentious divergence of opinion on many political economic issues. This volume contains the formal remnants of their differences. Ricardo analyzes, issue-by-issue, his points of divergence to Malthus’s Principles of Political Economy. Malthus’s contributions to political economics generally concern his bleak forecast that a geometrically growing population would surpass the arithmetically growing capacity of essential natural resources.
Published in 1944, during World War II, Omnipotent Government was Mises’s first book written and published after he arrived in the United States. In this volume Mises provides in economic terms an explanation of the international conflicts that caused both world wars. Although written more than half a century ago, Mises’s main theme still stands: government interference in the economy leads to conflicts and wars. According to Mises, the last and best hope for peace is liberalism—the philosophy of liberty, free markets, limited government, and democracy.
The three treatises in On the Manipulation of Money and Credit were written in German between 1923 and 1931. Together they include some of Mises’s most important contributions to monetary and trade-cycle theories and constitute a precursor to Mises’s major work, Human Action.
On the Principles of Political Economy and Taxation provides analysis of the allocation of money between capitalists, landowners, and agricultural workers in Britain. Through this analysis, Ricardo came to advocate free trade and oppose Britain’s restrictive “Corn laws.” Here are his classic commentaries on certain points of contention and divergence with the political economic writings of Adam Smith and T. R. Malthus.
The Organization of Inquiry, the third volume in Liberty Fund’s The Selected Works of Gordon Tullock, was originally published by Duke University Press in 1966. This is a treatise by one of the most stalwart practitioners of the scientific method in political economy—Gordon Tullock. Charles K. Rowley, Duncan Black Professor of Economics at George Mason University, writes in his introduction to this book, “From a purely technical perspective, this book stands out as his [Tullock’s] best-written single authored work. The book sets out his own views on scientific method—views that he would faithfully reflect in all of his subsequent scholarship.”
This volume focuses on Ricardo’s shorter essays printed in the Morning Chronicle, which deal exclusively with his thoughts on the inflationary monetary policy of the Bank of England and Britain’s consequent Bullion Crises. In these essays, the genesis of Ricardo’s theory of “hard money” emerges as a tool to hedge against inflation using metallic currency. The Bullion Committee, created by the House of Commons in 1819, subsequently adopted his recommendations. His writings here gave rise to the currency school of hard money.
This volume contains a collection of assorted short essays written for publication in the latter part of David Ricardo’s life from 1815 to 1823. These essays include: “An Essay on the Influence of a low Price of Corn on the Profits of Stock” (1815), “Proposals for the Economical and Secure Currency” (1816), “Funding System” (1820), “On Protection to Agriculture” (1822), and “Plan for the Establishment of a National Bank.”
In this anthology, Mises offers an articulate and accessible introduction to and critique of two topics he considers especially important: inflation and government interventionism. Mises believes inflation, that is monetary expansion, is destructive; it destroys savings and investment, which are the basis for production and prosperity. Government controls and economic planning never accomplish what their proponents intend. Mises consistently argues that the solution to government intervention is free markets and free enterprise, which call for reforming government. For that, ideas must be changed to “let the market system work.” There is no better “planning for freedom” than this.
These thirty-three essays, many of them previously unpublished, illustrate the broad range of Warren Nutter’s thought. There are essays on the Soviet economy and international relations as well as essays exploring the economic institutions that support a society of free people.
Written for the general reader and specialist alike, the essays collected here articulate a convincing classical liberal view of the world, with a no-nonsense approach to modern economic theory. Many of the articles are collected here for the first time in book form. Jasay’s aim is to clarify basic concepts in the realm of political and economic philosophy, such as property, equality and distributive justice, public goods, unemployment, opportunity costs, and welfare.
After he fled Austria, Ludwig von Mises arrived in the United States and continued to write essays on economics. Among those included in this volume are:
Anthony de Jasay, one of the most independent thinkers and influential libertarian political philosophers of our time, challenges the reigning paradigms justifying modern democratic government. The articles collected in Political Philosophy, Clearly delve deeply into the realm of political thought and philosophical criticism. A reader who is interested in a philosophical, yet clear, jargon-free account of such fundamental topics as the relationship between liberty and justice, the viability of limiting government, the role of property, and the possibilities of the private provision of public goods as well as the private enforcement of public rules will find reading this book rewarding.