Tag Archives: political theory

Middle-of-the-Road Policy Leads to Socialism

Economics deals with society’s fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen (Ludwig von Mises, Human Action). The following address was delivered before the University Club of New York, April 18, 1950, by Doctor Ludwig von Mises: How Middle-of-the-Road Policy Leads to Socialism The…

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Political Theory: Theory of Government

Political theory is the theory of government. It is a sub-branch of ethics, and economics, in turn, is a sub-branch of politics. Ethics — the science of human action — precedes politics because politics is the science of human action in societies, and societies are composed only of individuals. For this reason, the individual has…

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Laissez Faire and Hong Kong

Laissez faire is a social system based upon private ownership of the means of production and the preeminence of the individual over the group. The word capitalism was popularized by Karl Marx, in the 1850’s. Marx used it to denounce private ownership of the means of production and the autonomous workings of the free market.…

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