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A Anarcho-capitalism, 7, 8 Accumulation (capital), 177, 189 Anointed (vision of the), 278 Action (human), 28, 53–55, 192, Anti-fragility, 261 196, 240 See also Fragility Acton, Lord (Dahlberg-Acton, John Anxiety, 252 Emerich), 8, 34, 37, 59 Apartheid, 243 Admati, Anat, 40n5, 280n38 Apocalypse, 258 Affirmative action, 271 Appetites (human), 6, 227 Agricultural (era of civilisation), Appraisement (entrepreneurial), 201 127, 143 Aquinas, Thomas, 85, 275 Agricultural (sector), 142, 152 Argumentation, 2, 36, 198, 254, Agriculture, 36, 77, 90, 91, 113, 271, 277 128, 141, 143, 146, 149, Aristocracies, 7, 58, 64, 65, 147 150, 155–157 Aristotle, 10, 24, 257 Allocation (of resources), 5, 68, 108, Arnhart, Larry, 101n41 240, 264 Atlee, Clement, 161 Althusser, Louis, 52, 276 Atomisation, 266–269 Altruism, 12, 79, 97, 98, 122, Austrian School of Economics, ix, 161, 268 25, 69, 93, 178 Amoral, 33 Axiom, 33, 193, 227, 237

1 Note: Page followed by ‘n’ refer to notes.

© The Author(s) 2020 307 N. Parvini, The Defenders of Liberty, https://doi.org/10.1007/978-3-030-39452-3 308

B C Babbitt, Irving, 266 Calculation debate, 209 Bacon, Francis, 51 Callaghan, James, 161 Banking, 109, 111, 139, 159, Calvin, John, 10, 257 212, 259–262 Cannan, Edwin, ix, 151, 225, 226, , 156, 164, 202 229–234, 239, 240, 243 Bastiat, Frédéric, 93, 167, 168 Canning, George, 144, 145 Baumol, William J., 163, 164 Cantillon, Richard, viii, 105–112, Behavioural economics, vii, 85, 126, 131, 133n36, 141, 163, 237, 256 203, 228, 232, 242, 253 Belliotti, Raymond Angelo, Capitalism, 2, 21, 61, 198, 263, 270 71n3, 73n47 Capital theory, 157, 204, 205 Bentham, Jeremy, 24, 32, 116, 196 Caplan, Bryan, 45n64 Berlin, Isaiah, 4 Carlyle, Thomas, 266 Bias (confirmation bias), 11, 35, Cartels, 217, 245 180, 255, 257, 268 Casey, Gerrard, 54, 125 Blair, Tony, 108, 161, 262, 275 Castes, 110 Bloat (government), 175 Catallactics, 240 Block, Walter, 30, 33, 167 Catchings, Waddill, 204, 206, Bloom, Allan, 266 207, 209 Boettke, Peter, 195 Ceteris paribus, 106, 114, 120, 156, Böhm-Bawerk, Eugen von, ix, 117, 157, 190, 194, 253 150, 157, 179, 185, 187–192, Charity, 6, 22, 41n25, 79, 91, 204, 214 100n25, 159, 160 Bolsheviks, 202 Chicago School of Economics, 25, 252 Borrowing, 112 Child labour, 153, 218 Botero, Giovanni, 56 China, 143, 262 Bourgeoisie, 21 Choice, 4, 11, 12, 34, 35, 37, 53, Boyd, Brian, 43n39 94, 97, 108, 183, 188, 190, Brexit, 66, 67, 142, 255, 256, 258, 196, 237, 240, 242, 257, 264 276, 277 Clark, John Bates, 214, 242 Buchanan, James M., 67, 68, 109, Classical economists, viii, 109, 141, 234, 240, 252, 271 143, 157, 212, 231 Bureaucracy, 65 Classical liberalism, viii, ix, 1, 2, 4, Burgess, Anthony, 34, 269 13, 14, 17, 27, 38, 39, 51, 54, Burke, Edmund, 15, 128, 266, 274 84, 105, 158, 252, 253, Burnham, James, viii, 39, 52, 258, 262–266 60–62, 66 Coal industry, 152, 153 Index 309

Coase, Ronald, 24, 30–33 Coolidge, Calvin, 261 Cobden, Richard, viii, 140–143, Corbyn, Jeremy, 262, 270 145, 157, 158, 167 Corn Laws, viii, 17, 140–157 Coca-Cola Company, 185–187 Cost, 3, 19, 25, 30, 69, 80, 84, 109, Colish, Marcia L., 55 111, 114, 119, 128, 144, Collective bargaining, 247 150–155, 167, 186, 189–191, Collectives, 3, 13, 16, 20, 21, 198, 199, 209–212, 214–218, 23, 38, 67 225, 229, 230, 234–239, 245, Commerce, 36, 113, 130, 159, 227, 255, 257, 265, 275 235, 270 Cost theory, 212, 234 money, 92, 116, 184, 202 Cowperthwaite, John, 196 , 179, 201, 252 Credit, 69, 112, 178, 192, 203, 204, Communitarianism, 59, 123 209, 238, 259–261 Comparative advantage, 261 Credit money, 202 Condillac, Etienne Bonnot, Abbé de, Cronyism, 113, 153 107, 115, 118, 126, 180, 228 Crusoe economics, 240 Consent, 85, 96, 97, 122, 128, Culture, 10, 127, 252, 266, 270 163, 258 Customers, 86, 108, 148, 210–212, Consequentialism, 23–25, 27, 33 217, 237 Conservativism, 1, 17, 35, 52, 60, Cynicism, 87 78, 95, 144, 150, 195, 252, 263, 266, 267, 270 Consumerism, 272 D Consumers, 6, 9, 10, 27, 28, 64, 69, Dante Alighieri, 234 77, 111, 112, 140, 148, 154, Darwin, Charles, 3 165–167, 180, 181, 185, 187, Dawkins, Richard, 79 198–201, 205–207, 209, 211, Death rates, 83, 105, 128, 139 212, 214, 216, 217, 219, 230, Decisions (humans), 12 232, 233, 236, 244, 245, 266, Decline, 59, 149, 159, 186 267, 270 Deductive reasoning, 25, 192, 226 , 12, 19, 69, 108, 117, Deflation, 140, 142, 166, 187, 207 119, 157, 164, 167, 175, 177, Demand, 2, 9, 21, 30, 107, 108, 178, 188, 189, 191, 206, 207, 116, 118, 119, 141, 148, 149, 233, 267 153–155, 157, 164–166, 181, , 17, 35, 83, 124, 128, 185–187, 194, 196, 199–201, 158, 188, 189, 245, 260 212, 214, 216, 218, 227, 230, Control, 2, 3, 5, 6, 8, 29, 30, 66, 232, 245, 267 128, 218, 245, 261, 270, 275 See also 310 Index

Democracy, vii, 1, 7, 8, 14, 32, 58, Elastic, 107 61–65, 161, 262–266 See also Inelastic Democritus, 24 Elites, viii, 1, 58, 59, 64–68, 139, Deneen, Patrick J., 4, 15, 266 158, 256–258, 264, 266, 277 Depression (The Great Depression), Elite theory, 60 186, 238, 259–261 Elitism, viii Diamond, Jared, 137n113 Emotional appeals, vii, 11, 14, 22, 257 Dickens, Charles, 140 Empathy, 12, 79, 97, 98, 122, , the, 121 161, 268 Discounted Marginal Revenue Empire, 144 Product (DMRP), 216 Empiricism, 154, 194, 196, 197 , 69, 159 Employers, 18, 19, 242–246, 260 Disequilibrium, 165 Employment, 2, 77, 94, 95, 108, Disney, Walt, 95, 96 124, 141, 144, 146, 147, 181, Disraeli, Benjamin, 67 182, 191, 239, 243, 254, 255 Distortions (market), 24 Enemies of liberty, 1, 2, 14, 16, 17, Distribution, 64, 69, 121, 146, 230, 22, 29, 140, 158, 160, 161, 231, 242 246, 265, 270, 272, 277 Disutility, 32, 228 Enlightenment, the, 105–131 Division of labour, 11, 16, 94, 105, Enterprise (private), 7 108, 113, 117, 118, 122, Entitlements, 16, 63, 272 126–131, 194, 241 Entrepreneur, 14, 21, 68, 69, 108, Donisthorpe, Wordsworth, 7 111, 116, 126, 149, 155, 163, Doublespeak, 2 199–201, 203, 232, 236–238 Doublethink, 269 , 38, 84 Downturns, 153, 260, 261 Equality, 29, 56, 57, 61, 62, 69–70, Dunbar’s number, 122 81, 82, 121, 135n75, 235, Duties, 16, 64, 89, 113, 242, 263, 271 145–149, 233 Equilibrium, 58, 65, 118, 151, 165, 185, 236 Ethics, 10, 27, 33, 34, 38, 158 E Ethos (rhetoric), 271, 277 Earnings, 70, 147, 151, 152, 154, 246 Eudaimonia, 10 , 139, 196 Evenly Rotating Economy (ERE), Education, 35, 36, 159, 235, 264, 118, 200, 206 271, 277 Evolutionary theory, 127 Efficiency, 7, 24–26, 29, 160, 217 Experts, 197, 234, 256, 257 Egalitarianism, 11, 69, 120, 122, 159 Exploitation, 18, 188, 231 Egoism, 79 Exports, 140, 201 Index 311

F G Factors of production, 154, 165, Gaslighting, 271, 275, 276 198, 206, 215, 230 General Equilibrium, 178 Fairness (proportional), 9 Genetics, 10 Farage, Nigel, 142 , 161, 231, 232 Farmers, 30, 94, 106, 146–152, 155, Gillette, 237 157, 182, 183, 190, 198, 216 Gladstone, William, 70, 159 Fascism, 179, 251, 252, 258 Glass-Steagall Act, 260 Fetter, Frank, 188, 214 Goodhart, David, 276 , 6 Government, vii, 6, 15, 23–25, , 202, 203 30–32, 35, 37, 59, 61, 63, 66, Fiduciary media, 203 69, 88, 89, 96, 110, 112, 113, Filmer, Robert, 87 121–123, 129, 131, 135n81, Firm, the, 65, 129, 191, 202, 205, 146, 153, 156, 159, 166, 168, 207, 212, 216–219, 237, 244 175, 177, 198, 202–204, 206, Fisher, Irving, 142, 207 209, 217–219, 258–264 Flourishing (human), vii, 36, 57, 95, Grampp, William D., 144, 153, 154 122, 124 Gramsci, Antonio, 52 Fluctuations (market), 200 Greed, 57, 111 Ford, Henry, 244, 245, 259 Groenewegen, Peter, 115 Forecasting (economic), 11, 14, 26, Gross Domestic Private Product 61, 62, 66, 142, 179, 192, (GDPP), 175, 177 236, 247, 253–258 (GDP), 22, Formation (prices), 201, 205, 28, 57, 59, 63, 77, 105, 129, 212, 230 175, 177, 178, 203, 233, 267 Foster, William Trufant, 204, 206, 207, 209 Fragility, 1, 55 H France, 108, 110–113, 143, Haidt, Jonathan, 85, 125, 266 255, 257 Harding, Warren G., 261 Franklin D. Roosevelt (FDR) Hayek, F.A., ix, 7, 14, 15, 17, 37, See also Roosevelt, Franklin D. 65, 106, 108, 109, 126, 157, Freedom, vii, 2–5, 23, 32, 34, 35, 158, 167, 179, 185, 204–211, 37, 56, 57, 59, 61, 63, 125, 216, 238, 243, 247, 253, 259 130, 141, 144, 158, 262–264 Hazlitt, Henry, 24, 161, 167, 168 Friedman, Milton, 2, 7, 24, 25, 29–33, Hedonism, 15, 23, 64 66, 111, 133n36, 178, 240, Hegemony, 278 251–254, 259, 261, 262, 266 Heuristics, vii, 11, 238, 257 Fukuyama, Francis, 128 Hicks, John Richard, 178 312 Index

Hierarchy, 10, 81 Incentives, 5, 8, 23, 52, 54, 57, 65, Hitchens, Peter, 266, 276 66, 70, 84, 87, 106, 107, Hobbes, Thomas, viii, 8, 24, 60, 152, 159, 189, 190, 198, 77–98, 105, 106, 122, 268 206, 219, 240, 241, 246, Hobbesian (conception of property 261, 265–267 rights as positive Individualism (methodological), viii, rights), 24, 158 13, 16, 51, 54, 60, 64, 70, 78, Homesteading, 91, 94, 98, 122, 127 106, 151, 156, 157, 179, 203, Homogenous (theory of wages), 152 232, 240, 253, 267, 269 Hong Kong, 63, 196, 201, 262, 264 Individualism (‘rugged Hoover, Herbert, 259, 260 individualism’), 268, 269 Hoppe, Hans-Hermann, 36 Inelastic, 148, 149 Housing, 29, 30, 267 Inequality, 29, 30, 107, 108, 110, Hubris, 1, 2, 11, 256 115, 121, 122 Hülsmann, Jörg Guido, 93, 106 , 95, 106, 110, 111, 143, Human nature, vii, viii, 1–39, 187, 203, 212, 214, 260, 51, 52, 54, 66, 70, 77–98, 261, 267 120, 123–126, 179, 198, Initial Public Offerings 225, 227, 238, 241, 242, (IPOs), 45n79 268, 269 Injustice, 110, 156 Hume, David, viii, 11, 15, 36, 37, Inputs, 27, 129, 151, 155, 166, 212, 60, 78, 85, 98, 105, 106, 109, 236, 275 113, 119–126, 128, 130, 131, , 29, 56, 87, 123–125, 147 158, 242, 253 Intellectuals, 2, 3, 15, 22, 66, 87, Hunter-gatherers, 90, 122, 100n25, 122, 268, 274–277 127–129, 158 Intelligence, 10, 129, 243 Hutt, W. H., ix, 163, 165, 167, 225, Interest, 2, 14, 22, 24, 25, 27, 31, 226, 229, 243–247 32, 56, 61, 63, 68, 69, 109, 111–119, 123, 143, 144, 147, 178, 188, 190, 191, 203, 204, I 214, 231, 232, 259 Icarus, 11 International Monetary Fund (IMF), Idealism, 62, 70 251, 257, 262 Ideology, 68, 257, 267, 269 Interventionism, 32, 192 Idleness aversion, 10 Intuition, 11, 85, 257 Immigration, 80, 217, 267, 276 Ireland, 203 Imperialism, 143, 144 Iron triangle, 66, 266 Imports, 140, 141, 145–147, 149, 218 Islam, 39n1, 282n64 See also Exports Italy, 57, 59 Index 313

J Lammy, David, 274 Jaffe, William, 26 , 17–20, 25, 30, 60, 88, 90–98, Jasay, Anthony de, 27 107, 111, 113, 117, 121, 126, Jawboning, 259 128, 129, 141, 144, 146–148, Jefferson, Thomas, 60 151, 155, 161, 164, 165, 185, Jevons, William Stanley, ix, 24, 28, 217, 230, 231, 265 106, 112, 113, 119, 178, 180, Landlords, 128, 141, 155, 231 225–230, 234, 235, 238 Landowners, 147, 149, 150, 157 Joker, The, 252 Landsburg, Steven E., 240 Journalists, 66 Language game, 3, 252, 269–278 Judgement, 12, 13, 30, 65, 80, 85, Laslett, Peter, 41n19, 86, 108, 196, 216, 236, 238, 101n35, 101n38 242, 257 , 178 Jurisprudence, vii, 127 Laws of economics, 118–119, 193 Leeson, Peter T., 84, 195 Levellers, the, 121 K Liberalism, viii, ix, 1, 2, 4, 13, 14, Kahneman, Daniel, 256 17, 27, 38, 39, 51, 54, 84, Keynes, John Maynard, 163, 167, 185, 105, 158, 252, 253, 206, 207, 209, 241, 243, 261 258, 262–266 Keynesian economics, 139, 163, Libertarianism, 34 175, 178, 179, 185, 187, 191, Liberty, vii, 1–39, 51–59, 61–63, 69, 208, 226, 238, 242, 243, 251, 70, 78, 83, 86, 92–94, 110, 259, 261, 267 125, 126, 131, 140, 146, Kinsella, Stephen, 92 157–159, 163, 179, 226, Kirk, Russell, 17, 141, 144 251–253, 255, 263, 264, 266, Kirzner, Israel M., 118 268, 269, 271, 272, 278 Klein, Peter G., 194 Licensing, 86, 218 Knight, Frank, 240, 252 Light (lightbulbs), 275 Knowledge problem, 7, 204, 209 Lighthouses, 31 Krugman, Paul, 255 Linguistic inversion, 270–274 Literature, 31, 234, 235, 257, 260, 269 L Loans, 112, 116, 203 Labour Theory of Property, 23, Lobbyists, 2, 256 92, 94, 98 Locke, John, viii, 4–6, 8, 16, 22, 33, Labour Theory of Value, 24, 92, 94, 51, 60, 77–98, 105, 106, 109, 95, 98, 109, 112, 127, 162, 119–127, 129, 253, 269 181, 212, 229 Lockean Proviso, 91, 92, 94 314 Index

Lockean theory of property, 96 Marshall’s scissors, 212, 214, 230 Logos, 257, 271, 277 Marx, Karl, 21, 92, 95, 96, 98, London School of Economics, ix, 131, 230 225, 234 Marxism, 195, 232 Maslow’s hierarchy of needs, 10 Materialism, 84, 252 M Mathematical modelling, 253–259 Machiavelli, Niccolò, viii, 3, 6, 13, Menger, Carl, ix, 26, 93, 113, 119, 39, 40n11, 51–70, 78, 80, 82, 154, 178–188, 192, 202, 85, 86, 89, 90, 97, 105, 225, 227–230 227, 251 Mercantilism, 107, 143, 179 Machiavellians, 51–70, 87, 268 Methodological individualism, viii, MacPherson, C.B., 17–20, 22, 13, 16, 51, 54, 60, 64, 70, 45n80, 81, 92, 97 78, 106, 151, 156, 157, , 196, 203, 204, 179, 203, 232, 240, 253, 206, 208 267, 269 Malthus, Thomas, 148, 150, Methodology (economics), 185, 252 156, 163 Michels, Robert, 52, 60 Malthusian theory of population, , 195, 203 151, 155, 175 Mill, James, 150 Managerial class, 61 Mill, John Stuart, 4, 24, 25, 32, 112, Manchester School of Liberalism, 131, 158, 163, 196, 212, viii, 140–143, 145, 157, 225, 230–232 158, 167 Miller, Arthur, 269 Manufacturing, 36, 126, 146, 155, Minarchism, 7, 163 246, 254, 255 Minimum wage, 194, 218, Marginal analysis, 10, 107, 115, 119, 246, 254–256 131, 151, 152, 178, 184, 198, Misers, 167 215, 216, 218, 225, 234, 235, Mises, Ludwig von, ix, 3, 93, 106, 239, 241, 242, 244–247, 263 154, 179, 226, 253 Marginal , 234, 242, 244 Mississippi Bubble, 110, 111 Marginal Revenue Product (MRP), Mitchell, B.R., 152 215, 216 Mixing labour with the land, 98 Marginal Revolution, 112, 178, 180, Modelling, 255, 257 212, 225, 239 Monarchy, vii, 7, 81, 86, 87, 257 , 10, 107, 119, 131, , 111, 251, 259, 261 184, 194, 234, 241, 263 Money (origins of), 202 Marshall, Alfred, 153, 178, 212, Monopoly, 6, 42n35, 110, 144, 166, 214, 230, 234, 239, 240 212, 216, 217, 219 Index 315

Monopsony, 245 P Moral Foundations Theory (MFT), Papua New Guinea, 129, 130 85, 125, 266 Pareto, Vilfredo, viii, 51, 52, Morality, 34, 70, 86, 127, 158 60–62, 64–66, 68–70, 158, Mortgages, 4, 111, 204 159, 178 Mosca, Gaetano, viii, 51, 52, 54, Passions (vs. reasoning), 11, 14, 53, 60–62, 64–70, 159 57, 85, 97, 123, 125, 126, 271 Mossoff, Adam, 94 Pathos (rhetoric), 271, 277 Motte and Bailey, 270, 274, 275 Peterson, Jordan B., 272 Munger, Michael, 29, 32 Philippines, 63, 64 Murray, Douglas, 276 Philosophy, 10, 34, 84, 158, 159, 268 Myths, 52, 61–68, 101n40 Physiocrats, 112 Pigou, A.C., 241 Pinter, Harold, 269 N Poirot, Paul L., 5 National Health (NHS), 267 Policy decisions, 35, 255 Nationalism, 252 Positivism, 195, 253–259 Neighbourhood effects, 31 Post-Keynesianism, 185 , 178, , 194, 240 195, 214 Predictive modelling, 257 Neoconservatives, 60 Prejudice, 274 Niemietz, Kristian, 135n75, 278n5 Price formation, 201, 205, 212, 230 Night-watchman state, 7, 163 Price theory, 187, 195 NIMBYism, 265 Private property, vii, 23–25, 27, 32, Nirvana fallacy, vii 33, 54, 122, 231 Normative assumptions, 150 Producer goods, 199, 205, 209, 230 Nozick, Robert, 91–95, 98 Producers, 6, 107, 145, 149, 151, 156, 157, 166, 181, 191, 198, 199, 201, 205–209, 211, O 218, 239 Oakeshott, Michael, 84 Production theory, 181, 212, Objectivism, 268 225, 234 Oligarchy, 58, 60, 141 Productivity, 22, 128, 153, 155, 190, Olson, Mancur, 67 234, 242, 244–247 Opportunity costs, 109, 111, 114, Profit, 12, 13, 18, 19, 36, 56, 68, 69, 119, 191, 218, 235, 257 110–112, 117–119, 144, 146, Orwell, George, 2, 22, 61, 148, 151, 154–157, 187, 194, 62, 66, 269 199, 200, 203, 209, 212, 216, Overconfidence, 256 234, 236, 237, 241 316 Index

Progress, 24, 61–65, 113, 129, Ricardo’s Iron Law of Wages, 157–159, 246, 274, 275, 277 150, 185 Progressivism, 159, 262 Ridley, Matt, 93, 127, 264, 270 Propaganda, 277 Rigidity (price), 185 Property rights, vii, viii, 1–39, 51, Risk, 11–13, 54, 55, 90, 108, 111, 52, 70, 77–98, 105, 106, 112, 116–118, 151, 216 119–126, 128, 129, 158, 159, Robbins, Lionel, ix, 24, 30, 31, 143, 163, 179, 211, 225, 241, 269 146, 151, 181, 195, 225, 226, Prosperity, 36, 56, 123, 124, 141, 229, 230, 234, 238–243 144, 204 Rolling Stones, 276 , 156 Roosevelt, Franklin D., 61, 259, 260 Psychic profit, 18, 115, 234, 237, 241 Rothbard, Murray N., ix, 3, 5, 6, Psychology, vii, 85, 158, 266, 275 33–37, 61, 93, 96, 106, 115, 156, 159, 166, 179, 194, 211–219, 237, 239 R Roundabout (structure of capital), Raab, Felix, 52 117, 157, 165, 190, 207, 209 Raico, Ralph, 24 Rousseau, Jean-Jacques, 4, 15, Rand, Ayn, 3, 10, 29, 268 25, 32, 113 Rationalism, 15, 26, 196 Ratio of exchange, 187, 228–230 Reagan, Ronald, 251 S Realism, 60 Salerno, Joseph T., 180, 194 Reasoning, 11, 25, 85, 150, 151, Samuelson, Paul, 31, 178, 179 154, 180, 192, 193, 197, 226, Satisfactions (of human needs), 180 254–256, 268 Say, Jean-Baptiste, viii, 141, 155, Reciprocity, 16 162–168, 206, 212, 232 Relativism, 86 Say’s Law (Law of Markets), Republicanism, 52 165, 187 Revolutions, 28, 58, 61, 64, 65, 67, , 6, 53, 90, 120, 122, 124, 163, 202 127, 163, 181, 228, 239 Rhetoric, 271, 277 Scarcity definition of economics, 238 , 154, 197, Schedules (supply schedules and 231, 232 demand schedules), 147, 148, Ricardian theory of rents, 151 252, 265 Ricardo, David, viii, 11, 24, 92, 98, Schumpeter, Joseph A., 2, 106, 113, 109, 112, 131, 140, 144–158, 142, 151, 157 162, 163, 185, 197, Scientism, 84, 253–259 212, 230–232 Scraffa, Piero, 169n20 Index 317

Scruton, Roger, 141, 266 Statistics, 142, 148, 154, 175, 176, Self-actualization, 10 180, 195, 197, 198, 208, 210, Selfishness, 122, 123, 266–269 226, 253, 256 Self-ownership, 33, 34, 36, 37, Stigler, George, 24, 29, 30, 129, 125, 126 155, 195–197, 240, 246, Senior, Naussau William, viii, 140, 252, 254 146, 154, 156, 157, 181, Strauss, Leo, 40n11, 87 197, 227 Strawman, 160, 163 Servitude, 56 Subjectivism, 26, 228, 234, 240 Shakespeare,William, 277 Suffrage (voting rights), 161 , 30, 202 Superabundance, 10, 120 Signals (price), 129, 211 Supply and demand, 107, 116, 118, Singapore, 63, 64, 264 119, 164, 165, 184, 185, 194, Skinner, Quentin, 52, 56 214, 227 Skousen, Mark, 47n101 Supramarginal firm, 151 , 1, 125, 159, 179 Switzerland, 178, 266 Smith, Adam, viii, 3, 6, 15, 24, 29, 37, 53, 93, 100n25, 105–107, 113, 116, 122, T 126–131, 143–145, 157, Tabula rasa, 87 158, 162, 212, 232, 240, Taleb, Nassim Nicholas, 256 243, 253 Taxation, 14, 22, 31, 36, 44n61, Smoot-Hawley Act, 259 113, 145, 147, 163, 229 Sociability (human), 9 Tenant farmers, 147, 148, 150–152, Socialism, 6, 15, 62, 92, 161, 192, 155, 157 196, 198, 202, 209, 258 Thatcher, Margaret, 15, 16, 251 Social utility, 26, 30–32, 158, 241 Thirlby, G.F., ix, 109, 225, 236 Sorel, Georgwe, 60 Thornton, Mark, 109 Sowell, Thomas, 3, 20, 25, 38, 53, Tilmouth, Christopher, 85 69, 79, 163, 165, 197, 240, Time , 12, 119, 166, 177, 252, 271 178, 188–191, 193, 216 Spain, 203 Toryism, 141, 150, 153, 270, 276 Specialisation in division of Totalitarianism, 3, 122, 251, 269 labour, 11, 194 Trade, 5, 6, 16, 18, 27, 35–37, Spencer, Herbert, viii, 1, 3, 22, 37, 41n25, 91–94, 96–98, 107, 141, 158–161, 226, 257 109, 113, 115, 116, 118, 122, Spengler, Oswald, 159 126–128, 140–147, 164, 165, Spontaneous order, 15, 37, 158, 211 184, 198, 199, 228, 229, 231, , 163 247, 264 318 Index

Tragic vision, 53, 78, 79, 87, 97 V Tribalism, 6, 9, 13, 26, 37, Vedder, Richard K., 259, 260 128, 129 Victorians, the, 139, 175, 177 Trivers, Robert L., 42n27, 101n41 Virtue, 55, 58, 64, 121, 123, 130, Trump, Donald, 66, 67, 277 232, 265, 268 Tullock, Gordon, 67, 68 Virtue signalling, 243, 265 Tully, James, 92, 97, 103n73 Voting, 28, 265 Turgot, A.R.J., viii, 105, 112–119, 126, 131, 141, 151, 163, 167, 228, 232 W Tversky, Amos, 44n55 Wages, 18, 20, 21, 77, 91, 93, 94, 97, Tyranny, 58, 122 105, 108, 117, 126, 140, 142, 143, 150–154, 185, 190, 194, 197, 214, 218, 231, 242–247, U 254–256, 259, 260, 275 Uncertainty, 13, 19, 26, 54, 55, 108, Wage theory, 231 109, 111, 116, 118, 119, 192, Wales, 128, 139, 161, 162 195, 200, 216 Walras, Leon, 113, 119, 178, 180, 225 Unconstrained vision, 79 War, 78, 79, 88, 89, 120, 141–143, Unemployment, 139, 194, 177, 261, 270 254–256, 259–261 Wealth definition of economics, 239 Unions (trade unions), 243, 244 Weber, Max, 10 United Kingdom (UK), 20, 22, Welfare definition of economics, 241 66, 108, 129, 131, 139, Wicksell, Knut, 165 141–143, 147, 153, 155, Wicksteed, Phillip, ix, 109, 214, 161, 167, 175, 176, 214, 225, 226, 229, 234–238, 253 243, 251, 252, 255, 257, Wilson, David Sloan, 261, 263, 267 42n37, 101n41 United States of America (USA), 20, Wilson, E.O., vii 22, 66, 67, 83, 153, 185, 190, 214, 243, 244, 251, 252, 255, 261, 263, 267 Z Usury, 111, 116, 188 Zimbabwe, 63 Utopianism, vii Žižek, Slavoj, 272