Economic Lessons

Machiavelli: On Change

“It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than a new system. For the initiator has the enmity of all who would profit by the preservation of the old institution and merely lukewarm...

Nock and Mencken on Democracy and Equality

Nock and Mencken on Democracy and Equality Albert Jay Nock (1870–1945) and Henry L. Mencken (1880–1956) were the two leading libertarian intellectuals of the Old Right, during the thirties of the twentieth century. Both defended laissez-faire but...

Hayek on Health Care

Hayek on health care, social safety nets and public housing< The following passage is taken from The Road to Serfdom, Text and Documents, The Definitive Edition, by F. A. Hayek, edited by Bruce Caldwell, University of Chicago Press, 2007 I commend everyone...
Lesson on Federalist Paper #10

Lesson on Federalist Paper #10

Lesson on Federalist Paper #10 Madison begins perhaps the most famous of the Federalist papers by stating that one of the strongest arguments in favor of the Constitution is the fact that it establishes a government capable of controlling the violence and damage...