WorldSys: Austrian Home Study Course, Week 31

READINGS: “Economic Calculation in the Socialist Commonwealth”, Ludwig Von Mises; Chapter 10 of “Economics for Real People”, by Gene Callahan; Chapters 2 and 3 of Thomas Taylor’s “An Introduction to Austrian Economics”. 1) For Mises, what is the defining characteristic of socialism? Community ownership of the means of production, that is: factories, capital goods, etc. […]

WorldSys: Austrian Home Study Course, Week 28

READINGS: “Middle-of-the-road Policy Leads to Socialism” by Ludwig Von Mises, Chapters 11 and 12 of Gene Callahan’s “Economics for Real People” 1 What is interventionism? A third-way system meant to stand equidistant between communism and capitalism, retaining the advantages and avoiding the pitfalls of each. Interventionism essentially calls for having a market and a State, […]

WorldSys: Austrian Home Study Course, Week 27

READINGS: Various articles on patent law from Gene Callahan 1 Describe Amazon.com’s patent. Amazon patented the idea of buying items on the internet with a single mouse click. 2 What did British Telecom announce as its patented innovation? Hyperlinks (!) 3 Why does Callahan challenge Gleick’s statement that “[patent law] fueled industrial progress in the […]

WorldSys: Austrian Home Study Course, Week 26

READINGS: “Private Security” in Bob Murphy’s Chaos Theory. 1 What is anarcho-capitalism? The most thorough possible endorsement of private property rights and free markets. Anarcho-capitalists believe that infrastructure, healthcare, police, armies, and everything else should be provided by the private sector. 2 Are all Austrians anarcho-capitalists? Today, it definitely seems that way, but historically many […]

WorldSys: Austrian Home Study Course, Week 25

READINGS: “Education: Free and Compulsory” by Murray Rothbard 1 How does Rothbard describe a person’s education, starting from infancy? As a process of maturing into the full stature of a human being, which means developing the powers of reason which are our uniquely human endowment. Especially in infancy and early childhood this happens ceaselessly, every […]