Socialism calls for the social ownership, planning, and redistribution of wealth and goods. It undermines freedom and ultimately fails to meet its ends.
Nationalism places the collective identity of a nation above all other aspects of life.
Methodological individualism is the methodological framework wherein individuals are seen as the agents of actions and values that form social phenomena.
Communism is the political system in which all aspects of life are planned by the state. Its presence has been devastating for millions of people.
Collectivism advocates state control over the economy and civil society. Philosophically, collectivism resembles socialism and opposes individualism.
Edward Coke was a prominent lawyer and author who promoted constitutionalism and rights-based justification of law and the powers of government.
In this entry, Timothy Sandefur explains the origins and role of the American judiciary system.
A. V. Dicey, a prominent British legal philosopher, established in his writings the basic principles for the rule of law under a legitimate constitution.
Common law describes the form of law used to resolve disputes between individuals where decisions are made based on intent, effects, and circumstances.
Positive liberty presents liberty as the ability to succeed. Often, though, positive liberty can only be achieved by violating negative liberty.
The nonaggression axiom or principle mandates that individuals do not use physical force against others or their property, except for retaliation.
One of the chief philosophers of the Scottish Enlightenment, Hume contributed a theory of government and morality loosely based on property and utility.
One common model of state formation, the social contract consists of the voluntary exchange of protection and rights between governments and citizens.
The work of Ronald H. Coase, most famously the concept known as Coase’s theorem, has provided insight to law, economics, and how they intersect.
The “law and economics” approach, used by Coase, Posner, and others, combines the methods and principles of both law and economics scholarship.
Say was a French political economist whose work anticipated and popularized theories of wealth creation, entrepreneurship, and a free society.
David Ricardo was an influential economist whose contributed both important free-market theories and dismal predictions about the value of labor.
Keynesian economists theorize that government spending can be used to manage the economy. It has been a widely accepted stance since the 1930s.