“It takes money to make money.” An old, oft-repeated saying, it is certainly true enough as a statement describing the functioning of capitalism. The idea is that once one possesses capital, she can loan it to others for interest or rent, or else invest it in some productive enterprise to earn profits, sitting back and…

According to New York Times columnist Joe Nocera (“Criminal Card Games,” September 16), Home Depot’s security breach — the latest in an ongoing series of extensive exposures of customer financial information from large retailers — explains “why the federal government needs to get involved. With the banks and retailers at loggerheads, only the government has the ability to…

George Reisman. Piketty’s Capital: Wrong Theory, Destructive Program (TJS Books, 2014). Reisman’s critique of Piketty, from beginning to end, is nothing but pronouncements of a priori Austrian dogma from Böhm-Bawerk and Mises, with no direct contact with reality outside the pages of their work at any point in the process. He makes dogmatic pronouncements about…

As many in the libertarian community already know, Overstock CEO Patrick Byrne recently unveiled a plan to build a revolutionary new model of finance on the back of the old financial system. Namely, by creating a Bitcoin equivalent of the New York Stock Exchange in hopes of eventually replacing Wall Street entirely with a crypto-security trading system…

With another fall election season picking up steam, The New Yorker’s Sam Wang wonders whether the 2014 election will “be a wave or a ripple.” A wave, Wang says, occurs when “one party makes massive gains and overturns the existing power dynamic.” But notwithstanding Wang’s intended point, the “existing power dynamic” in the United States…

Though many Americans know that prisoners often work while behind bars, the conditions under which they toil may be less than clear. Fortune magazine made waves this summer when it reported that “[p]rison labor has gone artisanal,” revealing a multimillion dollar business that puts convicts to work making everything from specialty motorcycles to goat cheese sold at…

All’inizio di settembre, la Reuters ha reso nota una ricerca commissionata dalla Federal Reserve che dimostra che negli Stati Uniti cresce la disuguaglianza in termini di reddito e ricchezza. “Tutta la crescita del reddito,” dice la Reuters, “è concentrata nella parte alta… con il 30,5% nelle mani del 3% della popolazione.” La ricerca della Federal…

The following article was written by Max More and published with The Freeman, February 1, 1999. Max More is president of Extropy Institute in Marina Del Rey, California. Large Corporations Will Not Come to Dominate the Economy Giant corporations controlling national governments. Corporate behemoths regimenting their workers, controlling their customers, and obliterating their smaller competitors. The rich get richer…

I’d like to first thank Mr. Lock for his thoughtful, well-mannered observations on my little piece. Commenters such as Mr. Lock honor me with their courteous thoughts and, in my humble view, raise the bar for discussion and debate by refraining from ad hominem and from attempts to impute motives; dealing with my points and…

C4SS Feed 44 presents “What Laissez Faire?” from the book Markets Not Capitalism, written by Sheldon Richman, read by Stephanie Murphy and edited by Nick Ford. What, then, is this system called “capitalism”? It can’t be the free market because we have no free market. Today the hand of government is all over the economy — from money…

In July 2014, Brazilian President Dilma Rousseff’s Facebook page celebrated the record production of iron ore by Vale. According to the page, the mining company “broke a record for iron ore production in the second quarter,” representing a “12.6% increase compared to the same time frame in 2013.” Several pages quickly pointed out Rousseff’s “mistake,”…

In early September, Reuters reported on a new Federal Reserve survey showing widening wealth and income gaps in the United States. “All of the income growth,” Reuters reports, “was concentrated among the top earners …  with the top 3 percent accounting for 30.5 percent of all income.” The Fed survey will no doubt disconcert those…

C4SS Feed 44 presents Carlos Clemente‘s “Vulture Funds vs. Argentina” read by Christopher King and edited by Nick Ford. The most outrageous fallacy in this line of reasoning is the conflation of the political class of a country with its citizenry at large. Whenever vultures succeed in collecting the full value on defaulted government bonds, the…

The political economy of Benjamin Tucker represents an alloy of its major influences, synthesizing the work of radical thinkers such as Josiah Warren, William B. Greene, Ezra Heywood, and Lysander Spooner to create a mature, comprehensive individualist anarchism. From Heywood came Tucker’s trademark analysis of the wrongs of rent, interest, and profit, “follow[ing] closely the…

The book I will discuss below develops and defends the idea of law without a state. The book’s blurb tells us the following: This book elaborates and defends the idea of law without the state. Animated by a vision of peaceful, voluntary cooperation as a social ideal and building on a careful account of non-aggression,…

Why am I an Anarchist? That is the question which the editor of The Twentieth Century has requested me to answer for his readers. I comply; but, to be frank, I find it a difficult task. If the editor or one of his contributors had only suggested a reason why I should be anything other…

Today is Labor Day, a federal holiday in the United States designed to promote a sanitized history of labor organizing. As Charles Johnson puts it, “the federal holiday known as Labor Day is actually a Gilded Age bait-and-switch from 1894. It was crafted and promoted in an effort to throw a bone to labor while erasing the radicalism implicit in May…

A charge that has been leveled by the pro-government left is that anarchists are simply neoliberals without money or some variation upon this. The tweeter in question provides no definition of neo-liberalism, so, we turn to Dictionary.com to provide us with a definition of neoliberalism to be used in analyzing this charge. It’s as follows:…

I love to backpack, surf, hike and climb. When I’m not able to engage in these pursuits, I sometimes find myself watching video of others adventuring in beautiful, remote locales. It helps me to hold on to some of those joyous and motivating travel feelings. I enjoy footage from decades past, when things were wilder,…

The protests, police violence, and repression in Ferguson have sparked nationwide conversations about police militarization and misconduct. There’s some incredibly promising potential here, as more and more people become aware of the brutality of the modern criminal justice system. However, there are also some potential pitfalls that deserve cautious examination. First, the good. Popular commentators…