Hans-Hermann Hoppe Archives
"The Yield from Money Held" Reconsidered
Like Hutt, I want to attack the following notion: that money held in cash balances and deposit accounts is somehow "unproductive," "barren," or "sterile," offering a "yield of nil;" that only consumer goods and producer (investment) goods are productive of human welfare; that the only productive use of money lies in its "circulation," i.e., in its spending on consumer or producer goods; and that the holding, i.e., the not spending, of money diminishes future consumption and production. FULL ARTICLE
The Paradox of Imperialism
Here I present the outlines of a theory of empire, particularly democratic empire. While all states must be expected to have aggressive inclinations, the incentive structure faced by traditional kings on the one hand and modern presidents on the other is different enough to account for different kinds of war. Whereas kings viewed themselves as the private owner of the territory under their control, presidents consider themselves as temporary caretakers. The owner of a resource is concerned about the current income to be derived from the resource and the capital value embodied in it (as a reflection of expected future income). His interests are long-run, with a concern for the preservation and enhancement of the capital values embodied in "his" country. In contrast, the caretaker of a resource (viewed as public rather than private property) is concerned primarily about his current income and pays little or no attention to capital values. FULL ARTICLE
The Idea of a Private Law Society
Mankind being what it is, murderers, robbers, thieves, thugs, and con-artists will always exist, and life in society will be impossible if they are not deterred. How and by whom is this enforcement of law and order accomplished? The answer given by classical liberals and by almost everyone else is that the indispensable task of maintaining law and order is the unique function of the state. But the very institution of government is nothing less than a contradiction in terms: an expropriating property protector, "producing" ever more taxes and ever less protection. In order to be just and efficient, the production and maintenance of law will have to be undertaken by freely financed and competing individuals and agencies. FULL ARTICLE
Does the State Resolve or Create Conflict?
March 16, 2006 7:33 AM
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Uncertainty and Its Exigencies: The Critical Role of Insurance in the Free Market
March 7, 2006 7:40 AM
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The Economics of Taxation
February 24, 2006 12:04 AM
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Preface to the Polish Edition of Democracy - The God That Failed
January 17, 2006 8:22 AM
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Must Austrians Embrace Indifference?
January 8, 2006 4:01 PM
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The Rise and Fall of the City
November 23, 2005 5:22 AM
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My Battle With The Thought Police
April 12, 2005 6:29 AM
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The Ethics and Economics of Private Property
October 15, 2004 3:37 AM
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Demcracy in Spanish
May 3, 2004 9:12 AM
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Democracy Reviewed, in German
January 23, 2004 8:51 AM
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