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Human trafficking is a serious crime that consists of slavery in modern forms all over the world. Despite the rapid economic growth in China during the past few decades, the situation of human traffic...
The title of this article—Economic Affairs as Human Affairs—is derived from a phrase I recall from the earliest days of my political awareness. Dwight Eisenhower used to insist, with demonstrably s...
The Path toward Freedom The rise of democracy in South Korea and Taiwan attests to the power of the market in generating political liberalization. Both countries have moved from closed, authoritari...
When I attended graduate school in economics at Yale, one of my professors, Henry Wallich, in 1960 published a book entitled The Cost of Freedom. This book reflected the conventional wisdom of the t...
Frank Knight identified property rights as the essential ingredient for economic progress. In his classic work, Risk, Uncertainty and Profit, Knight (1971: 319) states: Let us begin with the relati...
The year 1999 marks the 50th anniversary of the publication of the first edition of Human Action, the treatise on economics by Ludwig von Mises (1881–1973).1 This book has been called ‘‘the essentia...
The core of Ludwig von Mises’ thought is the theory of human action, or praxeology, the general science he seeks to articulate. Within this general science is included—embedded in it—catallactics, o...
Peter Bauer was very much concerned with the question of how attitudes may affect the potential for economic development in underdeveloped countries. He was forced to deal with it because much of t...
Corruption, defined as the misuse of public power (office) for private benefit, is most likely to occur where public and private sectors meet. In other words, it occurs where public officials have a...
By and large, there are two distinct intellectual traditions in social theorizing. One is normative. It addresses how people should live or how the social order should be arranged. Much of the human...

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