Economy, Society, and History

The theory of time preference, capital, technology and economic growth will be viewed through both theoretical and historical elements. People have a preference for satisfaction earlier as compared to satisfaction later. Capital goods allow greater production, but this requires saving now, not consuming now.

Humans are constrained by time preference. Our interest rate is always higher than zero. Little children have very high time p...

The next element in human development is that of money and the growth of cities and trade. Why is there division of labor and why is there money? Hoppe covers why people do not remain in self-sufficient isolation even when they could and even if everybody hated everybody else. As long as every person wants to have more rather than less, division of labor occurs.

Human action itself tends toward social cooperation in aiming toward hi...

What condition does mankind find itself in? Language, property and production are elements unique to mankind. Humans are social animals. Cooperation is normal. Language permits direct communication. Animals can’t abstract in the way humans can. They can form sounds but not words. Animals cannot make inferences explicitly. Animals do not have what we call self-consciousness (reflection).

Men learn that some goods are immediately sa...

The institution of the State is not normal or natural. We will pay for making this error. There are not different and unequal laws applying to masters and individuals. Once you accept, incorrectly, unilateral taxation and ultimate jurisdiction in the hands of the state you are stuck.

Instead of protecting us, our government has made us more helpless and impoverished while they become richer and more powerful. Yet, the state owes its...

Ideological factors, especially comparative religions, are considered. Until 1500, China was the most developed region on the globe. Confucianism has no promise of an afterlife. There are no miracles for them. They are realistic and rational. Confucius is not a god or prophet. He is revered as a great teacher. His teachings are compatible with capitalism.

Judaism produced few achievements before 1800. Christianity was not originally...

Lack of intelligence, lack of division of labor and violent ideologies are three factors which contribute to states, wars, and imperialism. Fighters in wars were vassals of the Lords, or mercenary groups who could be hired. Fights were frequent but small and they had rules of knightly honor.

Ideological wars are the most brutal. Religious uprisings were used by princes as ways to grab properties and to form alliances. By 1648, follo...

Correlations between IQ and GDP of countries exist. Without the state, what natural order evolves? Details of the theory of private property are given as the means for society to survive. People own themselves and have never doubted that the instruments that they produce are theirs as well. This extended visibly to certain land territories.

Natural order defends these basic property principles. Locations were selected by defensibili...

Exploitative behavior of the state is studied. Brainwashing was required to build states up. Unlike productive activities via division of labor, parasitic activities like cannibalism, slavery, fraud and robbery did not lead to social cooperation.

Stationary banditry described the institution named the state that allowed for some to benefit themselves at the expense of others. The state exercises ultimate jurisdiction in cases of con...

The transition from monarchy to democracy deals with how humans create more freedom than is currently had. The role of monarchs in the pre-state societies and their positions as heads of state since the feudal (1100-1500 AD) period and into the absolute monarchies were the more typical form of rulers. Democracies are rare events in history.

Kings had been regarded as patriarchal heads of clans or descendants of Gods. They provided t...