Economics And Ethics Of Private Property

"Do not steal" is an excellent principle of ethics; it is also the first principle of sound economic systems. In our time, no one has done more than Hans-Hermann Hoppe to elaborate on the sociological implications of this truth. And this is his great work on the topic. The Austrian tradition is known for offering the most hard-core defense of private property, and the most consistent application of that principle, of any school of economics. The work of Hoppe--a leading student of Rothbard's whose books have been translated into a dozen languages--has focused heavy philosophical and economic attention on this principle. This book, the 2nd expanded edition after a long period in which it has been unavailable, collects his most important scholarly essays on the topic. The topics covered by Hoppe are wide ranging: employment, interest, money, banking, trade cycles, taxes, public goods, war, imperialism, and the rise and fall of civilizations. The core theoretical insight uniting the entire discussion is as consistently applied here as it is neglected by the economic mainstream: the absolute inviolability of private property as a human right as the basis of continuous economic progress. The right to private property is an indisputably valid, absolute principle of ethics, argues Hoppe, and the basis for civilizational advance. Indeed, it is the very foundation of social order itself. To rise from the ruins of socialism and overcome the stagnation of the Western welfare states, nothing will suffice but the uncompromising privatization of all socialized, that is, government, property and the establishment of a contractual society based on the recognition of private property rights. Hans Hermann-Hoppe is professor of economics at the University of Nevada, Las Vegas, and a senior fellow of the Ludwig von Mises Institute. This edition is an expansion of the original edition (1993), with new essays on epistemology, ethics, and economics. Barron's writes: Hans-Hermann Hoppe's dryly titled The Economics and Ethics of Private Property (von Mises Institute, 2006), is anything but dry. When Ludwig von Mises brought "Austrian School" economics to the U.S., the American Murray Rothbard became his worthy disciple. With Rothbard's death in 1995, the German-born Hoppe, a professor of economics at the University of Nevada, Las Vegas, became Rothbard's most important disciple by far. Hoppe's writings are like a laser beam. The clarity and force of his arguments seemingly can't fail to hit their targets. But be prepared for arguments that push you beyond your limits. For Hoppe is a Misesian of the Rothbardian kind: an anarcho-capitalist eager to convince you that anything useful that the state does, the market can do better -- in fact, that the state so abuses its appointed roles, there is really no contest between the two. CONTENTS: Preface to the Second Edition Preface to the First Edition Part One – Economics Chapter 1 Fallacies of the Public Goods Theory and the Production of Security Chapter 2 The Economics and Sociology of Taxation Chapter 3 Banking, Nation States, and International Politics: A Sociological Reconstruction of the Present Economic Order Chapter 4 Marxist and Austrian Class Analysis Chapter 5 Theory of Employment, Money, Interest, and the Capitalist Process: The Misesian Case Against Keynes Chapter 6 How is Fiat Money Possible?-or, The Devolution of Money and Credit Chapter 7 Against Fiduciary Media Chapter 8 Socialism: A Property or Knowledge Problem? Part Two – Philosophy Chapter 9 On Praxeology and the Praxeological Foundation of Epistemology Chapter 10 Is Research Based on Causal Scientific Principles Possible in the Social Sciences? Chapter 11 From the Economics of Laissez Faire to the Ethics of Libertarianism Chapter 12 The Justice of Economic Efficiency Chapter 13 On the Ultimate Justification of the Ethics of Private Property Chapter 14 Austrian Rationalism in the Age of the Decline of Positivism Chapter 15 Rothbardian Ethics Appendix: Four Critical Replies Demonstrated Preference and Private Property Utilitarians and Randians versus Reason Intimidation by Argument On the In-defensibility of Welfare Rights

LARGE PRINT EDITION! More at LargePrintLiberty.com. "Do not steal" is an excellent principle of ethics; it is also the first principle of sound economic systems. In our time, no one has done more than Hans-Hermann Hoppe to elaborate on the sociological implications of this truth. And this is his great work on the topic. The Austrian tradition is known for offering the most hard-core defense of private property, and the most consistent application of that principle, of any school of economics. The work of Hoppe--a leading student of Rothbard's whose books have been translated into a dozen languages--has focused heavy philosophical and economic attention on this principle. This book, the 2nd expanded edition after a long period in which it has been unavailable, collects his most important scholarly essays on the topic. The topics covered by Hoppe are wide ranging: employment, interest, money, banking, trade cycles, taxes, public goods, war, imperialism, and the rise and fall of civilizations. The core theoretical insight uniting the entire discussion is as consistently applied here as it is neglected by the economic mainstream: the absolute inviolability of private property as a human right as the basis of continuous economic progress. The right to private property is an indisputably valid, absolute principle of ethics, argues Hoppe, and the basis for civilizational advance. Indeed, it is the very foundation of social order itself. To rise from the ruins of socialism and overcome the stagnation of the Western welfare states, nothing will suffice but the uncompromising privatization of all socialized, that is, government, property and the establishment of a contractual society based on the recognition of private property rights. Hans Hermann-Hoppe is professor of economics at the University of Nevada, Las Vegas, and a senior fellow of the Ludwig von Mises Institute. This edition is an expansion of the original edition (1993), with new essays on epistemology, ethics, and economics.

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A review of Hans-Hermann Hoppe's The Economics and Ethics of Private Property.

Economics and ethics are both valuable tools for analyzing the behavior and actions of human beings and institutions. Adam Smith, the father of modern economics, considered them two sides of the same coin, but since economics was formalized and mathematicised in the late 1800s and early 1900s, the fields have largely followed separate paths. The Oxford Handbook of Ethics and Economics provides a timely and thorough survey of the various ways ethics can, does, and should inform economic theory and practice. The first part of the book, Foundations, explores how the most prominent schools of moral philosophy relate to economics; asks how morals relevant to economic behavior may have evolved; and explains how various approaches to economics incorporate ethics into their work. The second part, Applications, looks at the ethics of commerce, finance, and markets; uncovers the moral dilemmas involved with making decisions regarding social welfare, risk, and harm to others; and explores how ethics is relevant to major topics within economics, such as health care and the environment. With esteemed contributors from economics and philosophy, The Oxford Handbook of Ethics and Economics is a resource for scholars in both disciplines and those in related fields. It highlights the close relationship between ethics and economics in the past while and lays a foundation for further integration going forward.

This essay argues that, contrary to widespread academic sentiments and impressions, the institution of private property rights fully accords with a sensible conception of human morality, indeed, rests on a solid moral foundation. Although the institution will forever remain vulnerable to critics like Karl Marx, the failure to respect and legally protect it has produced economic weakness across the globe.

The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation presents an overview of the economics of eminent domain. Beginning with a brief review of the relevant case law for both physical acquisitions and for regulatory takings, the authors survey the economics literature examining eminent domain.