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

AAccumulation (capital), 177, 189Action (human), 28, 53–55, 192,

196, 240Acton, Lord (Dahlberg-Acton, John

Emerich), 8, 34, 37, 59Admati, Anat, 40n5, 280n38Affirmative action, 271Agricultural (era of civilisation),

127, 143Agricultural (sector), 142, 152Agriculture, 36, 77, 90, 91, 113,

128, 141, 143, 146, 149, 150, 155–157

Allocation (of resources), 5, 68, 108, 240, 264

Althusser, Louis, 52, 276Altruism, 12, 79, 97, 98, 122,

161, 268Amoral, 33

Anarcho-capitalism, 7, 8Anointed (vision of the), 278Anti-fragility, 261

See also FragilityAnxiety, 252Apartheid, 243Apocalypse, 258Appetites (human), 6, 227Appraisement (entrepreneurial), 201Aquinas, Thomas, 85, 275Argumentation, 2, 36, 198, 254,

271, 277Aristocracies, 7, 58, 64, 65, 147Aristotle, 10, 24, 257Arnhart, Larry, 101n41Atlee, Clement, 161Atomisation, 266–269Austrian School of Economics, ix,

25, 69, 93, 178Axiom, 33, 193, 227, 237

Index1

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

308 Index

BBabbitt, Irving, 266Bacon, Francis, 51Banking, 109, 111, 139, 159,

212, 259–262Barter, 156, 164, 202Bastiat, Frédéric, 93, 167, 168Baumol, William J., 163, 164Behavioural economics, vii, 85,

237, 256Belliotti, Raymond Angelo,

71n3, 73n47Bentham, Jeremy, 24, 32, 116, 196Berlin, Isaiah, 4Bias (confirmation bias), 11, 35,

180, 255, 257, 268Blair, Tony, 108, 161, 262, 275Bloat (government), 175Block, Walter, 30, 33, 167Bloom, Allan, 266Boettke, Peter, 195Böhm-Bawerk, Eugen von, ix, 117,

150, 157, 179, 185, 187–192, 204, 214

Bolsheviks, 202Borrowing, 112Botero, Giovanni, 56Bourgeoisie, 21Boyd, Brian, 43n39Brexit, 66, 67, 142, 255, 256, 258,

276, 277Buchanan, James M., 67, 68, 109,

234, 240, 252, 271Bureaucracy, 65Burgess, Anthony, 34, 269Burke, Edmund, 15, 128, 266, 274Burnham, James, viii, 39, 52,

60–62, 66

CCalculation debate, 209Callaghan, James, 161Calvin, John, 10, 257Cannan, Edwin, ix, 151, 225, 226,

229–234, 239, 240, 243Canning, George, 144, 145Cantillon, Richard, viii, 105–112,

126, 131, 133n36, 141, 163, 203, 228, 232, 242, 253

Capitalism, 2, 21, 61, 198, 263, 270Capital theory, 157, 204, 205Caplan, Bryan, 45n64Carlyle, Thomas, 266Cartels, 217, 245Casey, Gerrard, 54, 125Castes, 110Catallactics, 240Catchings, Waddill, 204, 206,

207, 209Ceteris paribus, 106, 114, 120, 156,

157, 190, 194, 253Charity, 6, 22, 41n25, 79, 91,

100n25, 159, 160Chicago School of Economics, 25, 252Child labour, 153, 218China, 143, 262Choice, 4, 11, 12, 34, 35, 37, 53,

94, 97, 108, 183, 188, 190, 196, 237, 240, 242, 257, 264

Clark, John Bates, 214, 242Classical economists, viii, 109, 141,

143, 157, 212, 231Classical liberalism, viii, ix, 1, 2, 4,

13, 14, 17, 27, 38, 39, 51, 54, 84, 105, 158, 252, 253, 258, 262–266

Coal industry, 152, 153

309 Index

Coase, Ronald, 24, 30–33Cobden, Richard, viii, 140–143,

145, 157, 158, 167Coca-Cola Company, 185–187Colish, Marcia L., 55Collective bargaining, 247Collectives, 3, 13, 16, 20, 21,

23, 38, 67Commerce, 36, 113, 130, 159, 227,

235, 270Commodity money, 92, 116, 184, 202Communism, 179, 201, 252Communitarianism, 59, 123Comparative advantage, 261Condillac, Etienne Bonnot, Abbé de,

107, 115, 118, 126, 180, 228Consent, 85, 96, 97, 122, 128,

163, 258Consequentialism, 23–25, 27, 33Conservativism, 1, 17, 35, 52, 60,

78, 95, 144, 150, 195, 252, 263, 266, 267, 270

Consumerism, 272Consumers, 6, 9, 10, 27, 28, 64, 69,

77, 111, 112, 140, 148, 154, 165–167, 180, 181, 185, 187, 198–201, 205–207, 209, 211, 212, 214, 216, 217, 219, 230, 232, 233, 236, 244, 245, 266, 267, 270

Consumption, 12, 19, 69, 108, 117, 119, 157, 164, 167, 175, 177, 178, 188, 189, 191, 206, 207, 233, 267

Contracts, 17, 35, 83, 124, 128, 158, 188, 189, 245, 260

Control, 2, 3, 5, 6, 8, 29, 30, 66, 128, 218, 245, 261, 270, 275

Coolidge, Calvin, 261Corbyn, Jeremy, 262, 270Corn Laws, viii, 17, 140–157Cost, 3, 19, 25, 30, 69, 80, 84, 109,

111, 114, 119, 128, 144, 150–155, 167, 186, 189–191, 198, 199, 209–212, 214–218, 225, 229, 230, 234–239, 245, 255, 257, 265, 275

Cost theory, 212, 234Cowperthwaite, John, 196Credit, 69, 112, 178, 192, 203, 204,

209, 238, 259–261Credit money, 202Cronyism, 113, 153Crusoe economics, 240Culture, 10, 127, 252, 266, 270Customers, 86, 108, 148, 210–212,

217, 237Cynicism, 87

DDante Alighieri, 234Darwin, Charles, 3Dawkins, Richard, 79Death rates, 83, 105, 128, 139Decisions (humans), 12Decline, 59, 149, 159, 186Deductive reasoning, 25, 192, 226Deflation, 140, 142, 166, 187, 207Demand, 2, 9, 21, 30, 107, 108,

116, 118, 119, 141, 148, 149, 153–155, 157, 164–166, 181, 185–187, 194, 196, 199–201, 212, 214, 216, 218, 227, 230, 232, 245, 267

See also Supply and demand

310 Index

Democracy, vii, 1, 7, 8, 14, 32, 58, 61–65, 161, 262–266

Democritus, 24Deneen, Patrick J., 4, 15, 266Depression (The Great Depression),

186, 238, 259–261Diamond, Jared, 137n113Dickens, Charles, 140Diggers, the, 121Discounted Marginal Revenue

Product (DMRP), 216Discrimination, 69, 159Disequilibrium, 165Disney, Walt, 95, 96Disraeli, Benjamin, 67Distortions (market), 24Distribution, 64, 69, 121, 146, 230,

231, 242Disutility, 32, 228Division of labour, 11, 16, 94, 105,

108, 113, 117, 118, 122, 126–131, 194, 241

Donisthorpe, Wordsworth, 7Doublespeak, 2Doublethink, 269Downturns, 153, 260, 261Dunbar’s number, 122Duties, 16, 64, 89, 113,

145–149, 233

EEarnings, 70, 147, 151, 152, 154, 246Econometrics, 139, 196Education, 35, 36, 159, 235, 264,

271, 277Efficiency, 7, 24–26, 29, 160, 217Egalitarianism, 11, 69, 120, 122, 159Egoism, 79

Elastic, 107See also Inelastic

Elites, viii, 1, 58, 59, 64–68, 139, 158, 256–258, 264, 266, 277

Elite theory, 60Elitism, viiiEmotional appeals, vii, 11, 14, 22, 257Empathy, 12, 79, 97, 98, 122,

161, 268Empire, 144Empiricism, 154, 194, 196, 197Employers, 18, 19, 242–246, 260Employment, 2, 77, 94, 95, 108,

124, 141, 144, 146, 147, 181, 182, 191, 239, 243, 254, 255

Enemies of liberty, 1, 2, 14, 16, 17, 22, 29, 140, 158, 160, 161, 246, 265, 270, 272, 277

Enlightenment, the, 105–131Enterprise (private), 7Entitlements, 16, 63, 272Entrepreneur, 14, 21, 68, 69, 108,

111, 116, 126, 149, 155, 163, 199–201, 203, 232, 236–238

Epistemology, 38, 84Equality, 29, 56, 57, 61, 62, 69–70,

81, 82, 121, 135n75, 235, 242, 263, 271

Equilibrium, 58, 65, 118, 151, 165, 185, 236

Ethics, 10, 27, 33, 34, 38, 158Ethos (rhetoric), 271, 277Eudaimonia, 10Evenly Rotating Economy (ERE),

118, 200, 206Evolutionary theory, 127Experts, 197, 234, 256, 257Exploitation, 18, 188, 231Exports, 140, 201

311 Index

FFactors of production, 154, 165,

198, 206, 215, 230Fairness (proportional), 9Farage, Nigel, 142Farmers, 30, 94, 106, 146–152, 155,

157, 182, 183, 190, 198, 216Fascism, 179, 251, 252, 258Fetter, Frank, 188, 214Feudalism, 6Fiat money, 202, 203Fiduciary media, 203Filmer, Robert, 87Firm, the, 65, 129, 191, 202, 205,

207, 212, 216–219, 237, 244Fisher, Irving, 142, 207Flourishing (human), vii, 36, 57, 95,

122, 124Fluctuations (market), 200Ford, Henry, 244, 245, 259Forecasting (economic), 11, 14, 26,

61, 62, 66, 142, 179, 192, 236, 247, 253–258

Formation (prices), 201, 205, 212, 230

Foster, William Trufant, 204, 206, 207, 209

Fragility, 1, 55France, 108, 110–113, 143,

255, 257Franklin D. Roosevelt (FDR)

See also Roosevelt, Franklin D.Freedom, vii, 2–5, 23, 32, 34, 35,

37, 56, 57, 59, 61, 63, 125, 130, 141, 144, 158, 262–264

Friedman, Milton, 2, 7, 24, 25, 29–33, 66, 111, 133n36, 178, 240, 251–254, 259, 261, 262, 266

Fukuyama, Francis, 128

GGaslighting, 271, 275, 276General Equilibrium, 178Genetics, 10Georgism, 161, 231, 232Gillette, 237Gladstone, William, 70, 159Glass-Steagall Act, 260Goodhart, David, 276Government, vii, 6, 15, 23–25,

30–32, 35, 37, 59, 61, 63, 66, 69, 88, 89, 96, 110, 112, 113, 121–123, 129, 131, 135n81, 146, 153, 156, 159, 166, 168, 175, 177, 198, 202–204, 206, 209, 217–219, 258–264

Grampp, William D., 144, 153, 154Gramsci, Antonio, 52Greed, 57, 111Groenewegen, Peter, 115Gross Domestic Private Product

(GDPP), 175, 177Gross Domestic Product (GDP), 22,

28, 57, 59, 63, 77, 105, 129, 175, 177, 178, 203, 233, 267

HHaidt, Jonathan, 85, 125, 266Harding, Warren G., 261Hayek, F.A., ix, 7, 14, 15, 17, 37,

65, 106, 108, 109, 126, 157, 158, 167, 179, 185, 204–211, 216, 238, 243, 247, 253, 259

Hazlitt, Henry, 24, 161, 167, 168Hedonism, 15, 23, 64Hegemony, 278Heuristics, vii, 11, 238, 257Hicks, John Richard, 178

312 Index

Hierarchy, 10, 81Hitchens, Peter, 266, 276Hobbes, Thomas, viii, 8, 24, 60,

77–98, 105, 106, 122, 268Hobbesian (conception of property

rights as positive rights), 24, 158

Homesteading, 91, 94, 98, 122, 127Homogenous (theory of wages), 152Hong Kong, 63, 196, 201, 262, 264Hoover, Herbert, 259, 260Hoppe, Hans-Hermann, 36Housing, 29, 30, 267Hubris, 1, 2, 11, 256Hülsmann, Jörg Guido, 93, 106Human nature, vii, viii, 1–39,

51, 52, 54, 66, 70, 77–98, 120, 123–126, 179, 198, 225, 227, 238, 241, 242, 268, 269

Hume, David, viii, 11, 15, 36, 37, 60, 78, 85, 98, 105, 106, 109, 113, 119–126, 128, 130, 131, 158, 242, 253

Hunter-gatherers, 90, 122, 127–129, 158

Hutt, W. H., ix, 163, 165, 167, 225, 226, 229, 243–247

IIcarus, 11Idealism, 62, 70Ideology, 68, 257, 267, 269Idleness aversion, 10Immigration, 80, 217, 267, 276Imperialism, 143, 144Imports, 140, 141, 145–147, 149, 218

See also Exports

Incentives, 5, 8, 23, 52, 54, 57, 65, 66, 70, 84, 87, 106, 107, 152, 159, 189, 190, 198, 206, 219, 240, 241, 246, 261, 265–267

Individualism (methodological), viii, 13, 16, 51, 54, 60, 64, 70, 78, 106, 151, 156, 157, 179, 203, 232, 240, 253, 267, 269

Individualism (‘rugged individualism’), 268, 269

Inelastic, 148, 149Inequality, 29, 30, 107, 108, 110,

115, 121, 122Inflation, 95, 106, 110, 111, 143,

187, 203, 212, 214, 260, 261, 267

Initial Public Offerings (IPOs), 45n79

Injustice, 110, 156Inputs, 27, 129, 151, 155, 166, 212,

236, 275Instincts, 29, 56, 87, 123–125, 147Intellectuals, 2, 3, 15, 22, 66, 87,

100n25, 122, 268, 274–277Intelligence, 10, 129, 243Interest, 2, 14, 22, 24, 25, 27, 31,

32, 56, 61, 63, 68, 69, 109, 111–119, 123, 143, 144, 147, 178, 188, 190, 191, 203, 204, 214, 231, 232, 259

International Monetary Fund (IMF), 251, 257, 262

Interventionism, 32, 192Intuition, 11, 85, 257Ireland, 203Iron triangle, 66, 266Islam, 39n1, 282n64Italy, 57, 59

313 Index

JJaffe, William, 26Jasay, Anthony de, 27Jawboning, 259Jefferson, Thomas, 60Jevons, William Stanley, ix, 24, 28,

106, 112, 113, 119, 178, 180, 225–230, 234, 235, 238

Joker, The, 252Journalists, 66Judgement, 12, 13, 30, 65, 80, 85,

86, 108, 196, 216, 236, 238, 242, 257

Jurisprudence, vii, 127

KKahneman, Daniel, 256Keynes, John Maynard, 163, 167, 185,

206, 207, 209, 241, 243, 261Keynesian economics, 139, 163,

175, 178, 179, 185, 187, 191, 208, 226, 238, 242, 243, 251, 259, 261, 267

Kinsella, Stephen, 92Kirk, Russell, 17, 141, 144Kirzner, Israel M., 118Klein, Peter G., 194Knight, Frank, 240, 252Knowledge problem, 7, 204, 209Krugman, Paul, 255

LLabour Theory of Property, 23,

92, 94, 98Labour Theory of Value, 24, 92, 94,

95, 98, 109, 112, 127, 162, 181, 212, 229

Lammy, David, 274Land, 17–20, 25, 30, 60, 88, 90–98,

107, 111, 113, 117, 121, 126, 128, 129, 141, 144, 146–148, 151, 155, 161, 164, 165, 185, 217, 230, 231, 265

Landlords, 128, 141, 155, 231Landowners, 147, 149, 150, 157Landsburg, Steven E., 240Language game, 3, 252, 269–278Laslett, Peter, 41n19,

101n35, 101n38Lausanne School, 178Laws of economics, 118–119, 193Leeson, Peter T., 84, 195Levellers, the, 121Liberalism, viii, ix, 1, 2, 4, 13, 14,

17, 27, 38, 39, 51, 54, 84, 105, 158, 252, 253, 258, 262–266

Libertarianism, 34Liberty, vii, 1–39, 51–59, 61–63, 69,

70, 78, 83, 86, 92–94, 110, 125, 126, 131, 140, 146, 157–159, 163, 179, 226, 251–253, 255, 263, 264, 266, 268, 269, 271, 272, 278

Licensing, 86, 218Light (lightbulbs), 275Lighthouses, 31Linguistic inversion, 270–274Literature, 31, 234, 235, 257,

260, 269Loans, 112, 116, 203Lobbyists, 2, 256Locke, John, viii, 4–6, 8, 16, 22, 33,

51, 60, 77–98, 105, 106, 109, 119–127, 129, 253, 269

Lockean Proviso, 91, 92, 94

314 Index

Lockean theory of property, 96Logos, 257, 271, 277London School of Economics, ix,

225, 234

MMachiavelli, Niccolò, viii, 3, 6, 13,

39, 40n11, 51–70, 78, 80, 82, 85, 86, 89, 90, 97, 105, 227, 251

Machiavellians, 51–70, 87, 268MacPherson, C.B., 17–20, 22,

45n80, 81, 92, 97Macroeconomics, 196, 203, 204,

206, 208Malthus, Thomas, 148, 150,

156, 163Malthusian theory of population,

151, 155, 175Managerial class, 61Manchester School of Liberalism,

viii, 140–143, 145, 157, 158, 167

Manufacturing, 36, 126, 146, 155, 246, 254, 255

Marginal analysis, 10, 107, 115, 119, 131, 151, 152, 178, 184, 198, 215, 216, 218, 225, 234, 235, 239, 241, 242, 244–247, 263

Marginal productivity, 234, 242, 244Marginal Revenue Product (MRP),

215, 216Marginal Revolution, 112, 178, 180,

212, 225, 239Marginal utility, 10, 107, 119, 131,

184, 194, 234, 241, 263Marshall, Alfred, 153, 178, 212,

214, 230, 234, 239, 240

Marshall’s scissors, 212, 214, 230Marx, Karl, 21, 92, 95, 96, 98,

131, 230Marxism, 195, 232Maslow’s hierarchy of needs, 10Materialism, 84, 252Mathematical modelling, 253–259Menger, Carl, ix, 26, 93, 113, 119,

154, 178–188, 192, 202, 225, 227–230

Mercantilism, 107, 143, 179Methodological individualism, viii,

13, 16, 51, 54, 60, 64, 70, 78, 106, 151, 156, 157, 179, 203, 232, 240, 253, 267, 269

Methodology (economics), 185, 252Michels, Robert, 52, 60Microeconomics, 195, 203Mill, James, 150Mill, John Stuart, 4, 24, 25, 32, 112,

131, 158, 163, 196, 212, 225, 230–232

Miller, Arthur, 269Minarchism, 7, 163Minimum wage, 194, 218,

246, 254–256Misers, 167Mises, Ludwig von, ix, 3, 93, 106,

154, 179, 226, 253Mississippi Bubble, 110, 111Mitchell, B.R., 152Mixing labour with the land, 98Modelling, 255, 257Monarchy, vii, 7, 81, 86, 87, 257Monetarism, 111, 251, 259, 261Money (origins of ), 202Monopoly, 6, 42n35, 110, 144, 166,

212, 216, 217, 219

315 Index

Monopsony, 245Moral Foundations Theory (MFT),

85, 125, 266Morality, 34, 70, 86, 127, 158Mortgages, 4, 111, 204Mosca, Gaetano, viii, 51, 52, 54,

60–62, 64–70, 159Mossoff, Adam, 94Motte and Bailey, 270, 274, 275Munger, Michael, 29, 32Murray, Douglas, 276Myths, 52, 61–68, 101n40

NNational Health Service (NHS), 267Nationalism, 252Neighbourhood effects, 31Neoclassical economics, 178,

195, 214Neoconservatives, 60Niemietz, Kristian, 135n75, 278n5Night-watchman state, 7, 163NIMBYism, 265Nirvana fallacy, viiNormative assumptions, 150Nozick, Robert, 91–95, 98

OOakeshott, Michael, 84Objectivism, 268Oligarchy, 58, 60, 141Olson, Mancur, 67Opportunity costs, 109, 111, 114,

119, 191, 218, 235, 257Orwell, George, 2, 22, 61,

62, 66, 269Overconfidence, 256

PPapua New Guinea, 129, 130Pareto, Vilfredo, viii, 51, 52,

60–62, 64–66, 68–70, 158, 159, 178

Passions (vs. reasoning), 11, 14, 53, 57, 85, 97, 123, 125, 126, 271

Pathos (rhetoric), 271, 277Peterson, Jordan B., 272Philippines, 63, 64Philosophy, 10, 34, 84, 158, 159, 268Physiocrats, 112Pigou, A.C., 241Pinter, Harold, 269Poirot, Paul L., 5Policy decisions, 35, 255Positivism, 195, 253–259Post-Keynesianism, 185Praxeology, 194, 240Predictive modelling, 257Prejudice, 274Price formation, 201, 205, 212, 230Price theory, 187, 195Private property, vii, 23–25, 27, 32,

33, 54, 122, 231Producer goods, 199, 205, 209, 230Producers, 6, 107, 145, 149, 151,

156, 157, 166, 181, 191, 198, 199, 201, 205–209, 211, 218, 239

Production theory, 181, 212, 225, 234

Productivity, 22, 128, 153, 155, 190, 234, 242, 244–247

Profit, 12, 13, 18, 19, 36, 56, 68, 69, 110–112, 117–119, 144, 146, 148, 151, 154–157, 187, 194, 199, 200, 203, 209, 212, 216, 234, 236, 237, 241

316 Index

Progress, 24, 61–65, 113, 129, 157–159, 246, 274, 275, 277

Progressivism, 159, 262Propaganda, 277Property rights, vii, viii, 1–39, 51,

52, 70, 77–98, 105, 106, 119–126, 128, 129, 158, 159, 163, 179, 211, 225, 241, 269

Prosperity, 36, 56, 123, 124, 141, 144, 204

Protectionism, 156Psychic profit, 18, 115, 234, 237, 241Psychology, vii, 85, 158, 266, 275

RRaab, Felix, 52Raico, Ralph, 24Rand, Ayn, 3, 10, 29, 268Rationalism, 15, 26, 196Ratio of exchange, 187, 228–230Reagan, Ronald, 251Realism, 60Reasoning, 11, 25, 85, 150, 151,

154, 180, 192, 193, 197, 226, 254–256, 268

Reciprocity, 16Relativism, 86Republicanism, 52Revolutions, 28, 58, 61, 64, 65, 67,

163, 202Rhetoric, 271, 277Ricardian economics, 154, 197,

231, 232Ricardian theory of rents, 151Ricardo, David, viii, 11, 24, 92, 98,

109, 112, 131, 140, 144–158, 162, 163, 185, 197, 212, 230–232

Ricardo’s Iron Law of Wages, 150, 185

Ridley, Matt, 93, 127, 264, 270Rigidity (price), 185Risk, 11–13, 54, 55, 90, 108, 111,

112, 116–118, 151, 216Robbins, Lionel, ix, 24, 30, 31, 143,

146, 151, 181, 195, 225, 226, 229, 230, 234, 238–243

Rolling Stones, 276Roosevelt, Franklin D., 61, 259, 260Rothbard, Murray N., ix, 3, 5, 6,

33–37, 61, 93, 96, 106, 115, 156, 159, 166, 179, 194, 211–219, 237, 239

Roundabout (structure of capital), 117, 157, 165, 190, 207, 209

Rousseau, Jean-Jacques, 4, 15, 25, 32, 113

SSalerno, Joseph T., 180, 194Samuelson, Paul, 31, 178, 179Satisfactions (of human needs), 180Say, Jean-Baptiste, viii, 141, 155,

162–168, 206, 212, 232Say’s Law (Law of Markets),

165, 187Scarcity, 6, 53, 90, 120, 122, 124,

127, 163, 181, 228, 239Scarcity definition of economics, 238Schedules (supply schedules and

demand schedules), 147, 148, 252, 265

Schumpeter, Joseph A., 2, 106, 113, 142, 151, 157

Scientism, 84, 253–259Scraffa, Piero, 169n20

317 Index

Scruton, Roger, 141, 266Self-actualization, 10Selfishness, 122, 123, 266–269Self-ownership, 33, 34, 36, 37,

125, 126Senior, Naussau William, viii, 140,

146, 154, 156, 157, 181, 197, 227

Servitude, 56Shakespeare,William, 277Shortages, 30, 202Signals (price), 129, 211Singapore, 63, 64, 264Skinner, Quentin, 52, 56Skousen, Mark, 47n101Slavery, 1, 125, 159, 179Smith, Adam, viii, 3, 6, 15, 24,

29, 37, 53, 93, 100n25, 105–107, 113, 116, 122, 126–131, 143–145, 157, 158, 162, 212, 232, 240, 243, 253

Smoot-Hawley Tariff Act, 259Sociability (human), 9Socialism, 6, 15, 62, 92, 161, 192,

196, 198, 202, 209, 258Social utility, 26, 30–32, 158, 241Sorel, Georgwe, 60Sowell, Thomas, 3, 20, 25, 38, 53,

69, 79, 163, 165, 197, 240, 252, 271

Spain, 203Specialisation in division of

labour, 11, 194Spencer, Herbert, viii, 1, 3, 22, 37,

141, 158–161, 226, 257Spengler, Oswald, 159Spontaneous order, 15, 37, 158, 211Stagflation, 163

Statistics, 142, 148, 154, 175, 176, 180, 195, 197, 198, 208, 210, 226, 253, 256

Stigler, George, 24, 29, 30, 129, 155, 195–197, 240, 246, 252, 254

Strauss, Leo, 40n11, 87Strawman, 160, 163Subjectivism, 26, 228, 234, 240Suffrage (voting rights), 161Superabundance, 10, 120Supply and demand, 107, 116, 118,

119, 164, 165, 184, 185, 194, 214, 227

Supramarginal firm, 151Switzerland, 178, 266

TTabula rasa, 87Taleb, Nassim Nicholas, 256Taxation, 14, 22, 31, 36, 44n61,

113, 145, 147, 163, 229Tenant farmers, 147, 148, 150–152,

155, 157Thatcher, Margaret, 15, 16, 251Thirlby, G.F., ix, 109, 225, 236Thornton, Mark, 109Tilmouth, Christopher, 85Time preference, 12, 119, 166, 177,

178, 188–191, 193, 216Toryism, 141, 150, 153, 270, 276Totalitarianism, 3, 122, 251, 269Trade, 5, 6, 16, 18, 27, 35–37,

41n25, 91–94, 96–98, 107, 109, 113, 115, 116, 118, 122, 126–128, 140–147, 164, 165, 184, 198, 199, 228, 229, 231, 247, 264

318 Index

Tragic vision, 53, 78, 79, 87, 97Tribalism, 6, 9, 13, 26, 37,

128, 129Trivers, Robert L., 42n27, 101n41Trump, Donald, 66, 67, 277Tullock, Gordon, 67, 68Tully, James, 92, 97, 103n73Turgot, A.R.J., viii, 105, 112–119,

126, 131, 141, 151, 163, 167, 228, 232

Tversky, Amos, 44n55Tyranny, 58, 122

UUncertainty, 13, 19, 26, 54, 55, 108,

109, 111, 116, 118, 119, 192, 195, 200, 216

Unconstrained vision, 79Unemployment, 139, 194,

254–256, 259–261Unions (trade unions), 243, 244United Kingdom (UK), 20, 22,

66, 108, 129, 131, 139, 141–143, 147, 153, 155, 161, 167, 175, 176, 214, 243, 251, 252, 255, 257, 261, 263, 267

United States of America (USA), 20, 22, 66, 67, 83, 153, 185, 190, 214, 243, 244, 251, 252, 255, 261, 263, 267

Usury, 111, 116, 188Utopianism, vii

VVedder, Richard K., 259, 260Victorians, the, 139, 175, 177Virtue, 55, 58, 64, 121, 123, 130,

232, 265, 268Virtue signalling, 243, 265Voting, 28, 265

WWages, 18, 20, 21, 77, 91, 93, 94, 97,

105, 108, 117, 126, 140, 142, 143, 150–154, 185, 190, 194, 197, 214, 218, 231, 242–247, 254–256, 259, 260, 275

Wage theory, 231Wales, 128, 139, 161, 162Walras, Leon, 113, 119, 178, 180, 225War, 78, 79, 88, 89, 120, 141–143,

177, 261, 270Wealth definition of economics, 239Weber, Max, 10Welfare definition of economics, 241Wicksell, Knut, 165Wicksteed, Phillip, ix, 109, 214,

225, 226, 229, 234–238, 253Wilson, David Sloan,

42n37, 101n41Wilson, E.O., vii

ZZimbabwe, 63Žižek, Slavoj, 272