The Road to Serfdom (1944) – F.A. Hayek, Chapter 5 – Planning & Democracy A common feature of collectivist systems is the deliberate organization of society’s labors for a common social goal. Socialists complain that our present society lacks “conscious direction” towards one goal & that our activities are guidedContinue Reading

The Road to Serfdom (1944) – F.A. Hayek, Chapter 4 – The “Inevitability” of Planning Few central planners even claim that planning is desirable. Most of them just say we’re forced to do it due to technological changes that can’t be reversed or prevented. The argument has little explanation behindContinue Reading

The Road to Serfdom (1944) – F.A. Hayek, Chapter 3 – Individualism & Collectivism Socialism is used to describe ideals of social justice, greater equality, & security. It also means the method socialists wish to achieve those. Their methods are the abolition of private enterprise, private ownership of the meansContinue Reading

The Road to Serfdom (1944) – F.A. Hayek, Chapter 2 – The Great Utopia Just because most progressives are for Socialism over Liberalism doesn’t mean people have forgotten what liberal thinkers have said about Collectivism. They just don’t agree with them. Socialism was recognized early on as a threat toContinue Reading

The Road to Serfdom (1944) – F.A. Hayek Chapter 1 – The Abandoned Road When things go wrong we look to blame others & not ourselves. We’re sure we did our best. We put our best people on the job. Our hearts were in the right place. So, if theContinue Reading

The Road to Serfdom (1944) – F.A. Hayek Introduction We can learn from the past to avoid a repetition of the same process. Accidental combination of experience & interest often reveals events to one man. Moving from one country to another, one may sometimes watch similar phrases of intellectual developmentContinue Reading

The Petition of London Merchants to Parliament, 11 February 1741 Many London merchants on behalf of others, as well as inhabitants of the Massachusetts Bay Colony, have sent a petition to the House. While the crown & Parliament have been exerting their authority with respect to the Massachusetts & otherContinue Reading

[Anonymous], A Letter to the Merchant in London to Whom is Directed a Printed Letter Relating to the Manufactory Undertaking, 27 February 1740 In response to Dr. Douglass’s letter – it’s amazing the lengths that some will go to to make the Manufacturing scheme to look as bad as possibleContinue Reading

[Dr. William Douglass], A Letter to Merchant in London Concerning a Late Combination in the Province of Massachusetts Bay… to Impose or Force a Private-Currency Called Land-Bank Money, 21 February, 1740 I wish to address the proposal of creating a “Land-Bank” money/currency. The House & the Governor have come outContinue Reading

Response to the Tobacco Act, 1729 We, the representatives of the Colony of Virginia, appreciate the support in the form of stabilizing the Tobacco Farming Industry that the government has provided. Some farmers have suffered as a consequence of the passage of this act, & as a result some membersContinue Reading

Lieutenant-Governor Spotswood and the Internal Regulation of Tobacco, 29 December 1713 I last gave you some of the steps we’ve taken to prevent tobacco fraud. But now we have to talk about why the tobacco industry has been mismanaged. A lot of people are just going into the business toContinue Reading

Adam Smith, “Conclusion of the Mercantile System” from “The Wealth of Nations” (Book 4, Chapter 7), 1776 The mercantile system encourages exportation but discourages importation but changes things around when it comes to commodities It claims to have the goal of enriching the empire through an advantageous balance of tradeContinue Reading

Petition of the Merchants of London to Parliament, 1751 [Note – The Currencies Act of 1751 prohibited the New England colonies from printing their own paper currency & required them to reduce what was already in the system. By 1764, this was required of all American colonies] Merchants of LondonContinue Reading

Dr. William Douglass – A Discourse Concerning the Currencies of the British Plantations in America, 1740 There have been a lot of proposals to introduce enormous quantities of money into the economy. Mr Franklin addresses this in regard to the public well-being, most of which were not previously discussed WhileContinue Reading

Benjamin Franklin, A Modest Enquiry into the Nature and Necessity of Paper Currency, 1729 Knowing the true interests of your country is very important but doing so is far too abstruse & intricate to do with any degree of competence. This is why it’s generally a neglected practice People oftenContinue Reading

Reason Against a General Prohibition of the Iron Manufacture in His Majesty’s Plantations, c. 1750 [Note – The Iron Act included a clause that prohibited the colonists from making finished iron products for their fellow colonies. It’s not clear is colonists honored that clause] If the Iron Act’s clause wereContinue Reading

Reasons for Making Bar, As Well As Pig or Sow-Iron in His Majesty’s Plantations, c. 1750 1 – Except for bar & sow-iron, the quantity of iron coming out of the colonies won’t be very much. English surpluses will still be bought abroad 2 – Iron works in England isn’tContinue Reading

Reasons Offered Against Encouraging Making Iron in America, c. 1750 It was never thought that it’d be in the interest of England to encourage the colonies to manufacture anything that was already being produced in England. That manufacture in England supports over 200000 people in the Midlands, the North &Continue Reading

Joshua Gee – The Trade and Navigation of Great Britain Considered, 1729 Allowing the planters in the plantation colonies to make a profit is a solid way to maintain goodwill between the colonies & the mother country. It also makes producers here in Britain better off because they get moreContinue Reading

A Short Answer to an Elaborate Pamphlet Entitled “The Importance of Sugar Plantations”, 1731 There’s a bill in the House of Lords being hotly pursued by people from Barbados looking to prohibit profitable trade between the English colonies in America, & French & Dutch sugar plantations to supply them withContinue Reading