INTERMEDIATE

Mercantilism

Mercantilism was the dominant economic philosophy during the 17th and part of the 18th centuries. Mercantilism believes that trade always benefits one party at the expense of the other. In addition, advocates viewed trade and wealth in terms of the state, rather than the individual. Government policies reflected this as they attempted to regulate trade in a manner which limited imports. Adam Smith mounted the definitive assault on mercantilist policies in his Wealth of Nations where he advocated free exchange over mercantilist controls. Even after Smith, governments continue to embrace mercantilist policies in the form of tariffs, subsidies, and military intervention in countries that have resources of perceived geo-political importance. 

Lawrence Reed- Adam Smith and the Birth of Economics

Burt Folsom - The Myth of the Robber Barons

 

Jack Chambless - The Curse of Alexander Hamilton

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Around the world, people are struggling to throw off authoritarianism, with deeply mixed results. From Egypt to Venezuela, determined people build networks to overthrow their regimes, but as yet we have not learned to live without Leviathan. In this issue, Michael Malice and Gary Dudney discuss their glimpses inside totalitarian regimes, while Sarah Skwire and Michael Nolan look at how totalitarian regimes grind down the individual--and how individuals fight back. Plus, Jeffrey Tucker identifies a strain in libertarianism that, left unchecked, could reduce even our vibrant movement to something that is analogous to the grim aesthetic of architectural brutalism. The struggle for our lives and freedom is a struggle for beauty; it begins inside each of us.
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