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Free-Market Economy

by Donald J. Boudreaux on Aug 15, 2008

In free markets, voluntary interaction makes up the economy’s structure, allowing for little to no state regulation and thus mutually beneficial trade.

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Division of Labor

by Tyler Cowen on Aug 15, 2008

Specialization and division of labor are central parts of the market economy that allow for development and increased efficiency of trade and production.

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Dutch Republic

by Jason Kuznicki on Aug 15, 2008

A prosperous and relatively free society, the Dutch Republic was a major world power between the 16th and 18th centuries.

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Kirzner, Israel M. (1930-)

by Brian Doherty on Aug 15, 2008

Israel M. Kirzner is a noted economist of the Austrian School known most for his work on the role of entrepreneur in the market.

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Praxeology

by George H. Smith on Aug 15, 2008

Praxeology, as popularized by Ludwig von Mises, is an interdisciplinary approach to social questions that abstracts and thus universally explains human action.

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Economics, Experimental

by Vernon L. Smith and Bart Wilson on Aug 15, 2008

Experimental economists study human incentive structures and behaviors as ways to explain the institutions and rules of economic activity.

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Privacy

by Solveig Singleton on Aug 15, 2008

Privacy and the government’s treatment of private information has changed with new waves of crime-detecting and information-collecting technology.

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Emerson, Ralph Waldo (1803-1882)

by Roderick T. Long on Aug 15, 2008

One of the founders of Transcendentalism, Ralph Waldo Emerson was also a noted abolitionist and personal activist in the nineteenth century.

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Eminent Domain/Takings

by Karol Boudreaux on Aug 15, 2008

Eminent domain, or the power of government to seize private property for public use, as a concept threatens property rights and personal privacy.

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Levellers

by Peter Kurrild-Klitgaard on Aug 15, 2008

The Levellers was a group of radicals who fought both the rule of the English monarchy and Cromwell’s commonwealth during the English Civil War.

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Puritanism

by Hans Eicholz on Aug 15, 2008

Puritans were Protestant Christians in England and Scotland who fought for reform of the church against Anglican opposition and backlash.

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English Civil Wars

by Ronald Hamowy on Aug 15, 2008

In this entry, Hamowy overviews the English Civil Wars of the mid 17th century and the raised issues of royal authority and religious liberty.

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Industrial Revolution

by Deirdre McCloskey on Aug 15, 2008

The industrial revolution improved not only production, but standards of living, political and economic freedom, and the spread of ideas and culture.

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Kant, Immanuel (1724-1804)

by Ralf Bader on Aug 15, 2008

Immanuel Kant provided a systematic treatise of morality that, among other things, relied on reason, noninterference both of government and individuals, and peace.

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Montesquieu, Charles de Secondat de

by Jason Kuznicki on Aug 15, 2008

Charles de Secondat, Baron de Montesquieu, wrote a theory of limited government that inspired American constitutional design and philosophy.

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Wollstonecraft, Mary (1759-1797)

by Wendy McElroy on Aug 15, 2008

Mary Wollstonecraft was a noted figure of the Enlightenment, contributing one of the most influential feminist works of her time.

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Schumpeter, Joseph (1883-1950)

by Thomas M. Humphrey on Aug 15, 2008

Joseph Schumpeter was an influential 20th century economist who staunchly defended capitalism and the cycle of innovation and growth it creates.

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Environment

by Jonathan Adler on Aug 15, 2008

Environmental regulations aim to reduce supposed externalities for the sake of stewardship, but sometimes place an unnecessary burden on the free market.