A clear boundary exists between the servile and the non-servile condition of labour, and the conditions upon either side of that boundary utterly differ one from another, Where there is compulsion applicable by positive law to men of a certain status, such compulsion enforced in the last resort by the powers at the disposal of the State, there is the institution of Slavery ; and if that institution be sufficiently expanded the whole State may be said to repose upon a servile basis, and is a Servile State. (Hilaire Belloc)...

Economics/Political Economy

Bastiat asserted that the only purpose of government is to defend the right of an individual to life, liberty, and property. From this definition, Bastiat concluded that the law cannot defend life, liberty and property if it promotes socialist policies inherently opposed to these very things. In this way, he says, the law is perverted and turned against the thing it is supposed to defend....

Economics/Political Economy

Other People's Money and How the Bankers Use It is a collection of essays written by Louis Brandeis published as a book in 1914. The book attacked the use of investment funds to promote the consolidation of various industries under the control of a small number of corporations, which Brandeis alleged were working in concert to prevent competition. Brandeis harshly criticized investment bankers who controlled large amounts of money deposited in their banks by middle-class people. The heads of these banks, Brandeis pointed out, routinely sat on the boards of railroad companies and large industrial manufacturers of various products, and routinely directed the resources of their banks to promote the interests of their own companies. These companies, in turn, sought to maintain control of their industries by crushing small businesses and stamping out innovators who developed better products to compete against them. Brandeis supported his contentions with a discussion of the actual dollar amounts -- in millions of dollars -- controlled by specific banks, industries, and industrialists such as J. P. Morgan, noting that these interests had ...

Economics/Political Economy, Instruction

This biography is actually a series of essays by prominent personalities of the time that shed light on John Stuart Mill's life and areas of endeavor. Those areas include his experiences in India House, his moral character, certain botanical explorations, how effective he was as a critic, studies in morals and the law, and discoveries concerning political economy. They also explore ideas concerning his influence on institutions of higher learning, accomplishments as a politician, and fame as a philosopher. (Summary by Bill Boerst)...

Biography, Economics/Political Economy, History, Philosophy, Nature, Politics

Lysander Spooner (1808 – 1887) was an American individualist anarchist, entrepreneur, political philosopher, abolitionist, supporter of the labour movement, and legal theorist of the nineteenth century. Here he gives his views on the role of Governments in the private lives of their citizens (Summary by Annise)...

Philosophy, Economics/Political Economy

This is Mill’s first work on economics. It foreshadows his _Political Economy_ which was the standard Anglo-American Economics textbook of the late 19th and early 20th centuries. Mill’s economic theory moved from free market capitalism, to government intervention within the precepts of Utilitarianism, and finally to Socialism. [Summary written by the reader]...

Philosophy, Economics/Political Economy

After the American Civil War, John R. Lynch, who had been a slave in Mississippi, began his political career in 1869 by first becoming Justice of the Peace, and then Mississippi State Representative. He was only 26 when he was elected to the US Congress in 1873. There, he continued to be an activist, introducing many bills and arguing on their behalf. Perhaps his greatest effort was in the long debate supporting the Civil Rights Act of 1875 to ban discrimination in public accommodations. In 1884 Lynch was the first African American nominated after a moving speech by Theodore Roosevelt to the position of Temporary Chairman of the Republican National Convention in Chicago, Illinois. During the Spanish-American War of 1898, he was appointed Treasury Auditor and then Paymaster under the Republicans. In 1901, he began serving with the Regular Army with tours of duty in the United States, Cuba, and the Philippines. Lynch retired from the Army in 1911, then married Cora Williams. They moved to Chicago, where he practiced law. He also became involved in real estate. After his death in Chicago 1939 at the age of 92, he was buried with milita...

Economics/Political Economy, History, Memoirs, Politics