The Five Institutions of the Market Economy

Let us see what the basic institutions of the market economy are. We may subdivide them for convenience of discussion into (1) private property, (2) free markets, (3) competition, (4) division and combination of labor, and (5) social cooperation. As we shall see, these are not separate institutions. They are mutually dependent: each implies the other, and makes it possible.

Why Would Anyone Want a President?

Apart from employees of the executive branch, or active-duty members of the military who have been called into service by Congress, no American really has a “president.” The office was intended to be peripheral to the daily concerns of Americans, rather than the central focus of their existence. What a wonderful thing it would be if Americans of all persuasions adopted the motto “Not My President” – and then learned to regard the state itself with the proper mixture of hostility and contempt.

Rethinking “Evil”

If you watch the news (not recommended) you see people committing despicable acts of violence, and the general consensus is that these people who do evil… are evil. Ironically, when you have decided that someone is evil, bad, or wrong, it’s easy to justify doing evil things to them. “An eye for an eye” makes everyone blind. All this evildoing perpetuates the false belief that humans are inherently evil and would behave badly if not for our prohibitive laws and the constant threat of punishment.

Indoctrination and Mind Control

Indoctrination, in the Webster II New College Dictionary is defined as “to teach to accept a system of thought uncritically”. Mind Control is a more intensive form of the same thing, requiring some form of physical or mental torture. Indoctrination and mind control can be used to instill a system of ideas before an individual has been subjected to any belief system or it can be used to change the system of beliefs already accepted by an individual.

Division of Labor, Evolution, Tom Woods

Send him mail. “Finding the Challenges” is an original column appearing every other Wednesday at Everything-Voluntary.com, by Verbal Vol. Verbal is a software engineer, college professor, corporate information officer, life long student, farmer, libertarian, literarian, student of computer science and self-ordering phenomena. Archived columns can be found here. FTC-only RSS feed available here. With today’s…