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The Levellers and Early Libertarian Thought

May 31, 2014 in Economics

By Mises Updates

6766

In addition to her shorter piece on the English Levellers, Roberta Modugno has provided this longer, footnoted piece as well, including:

The Levellers were concerned with economic rights and these economic rights were a direct consequence of the right to self-ownership and included individual property rights, freedom to produce, sell, buy and trade, and to do all this without license, monopolies, regulations and arbitrary taxation. That is to say, they advocated a free market economy. The right to trade freely was considered a natural right by Lilburne, or a “native liberty” as in Overton’s Remonstrance.

Arguing from the theoretical supremacy of natural rights, Lilburne rejects any form of regulation of trade. The right to free trade is a birth right: a legal fundamental liberty.

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Source: MISES INSTITUTE

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How Inflation Helps Keep the Rich Up and the Poor Down

May 31, 2014 in Economics

By Mises Updates

6767 (1)

Guido Hülsmann writes in today’s Mises Daily:

If there is any truth to the socialist caricature of capitalism — an economic system that exploits the poor to the benefit of the rich — then this caricature holds true for a capitalist system strangulated by inflation. The relentless influx of paper money makes the wealthy and powerful richer and more powerful than they would be if they depended exclusively on the voluntary support of their fellow citizens. And because it shields the political and economic establishment of the country from the competition emanating from the rest of society, inflation puts a brake on social mobility. The rich stay rich (longer) and the poor stay poor (longer) than they would in a free society.

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Source: MISES INSTITUTE