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Liberty Fund

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Liberty Fund

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Democracy in America

In Two Volumes

Alexis de Tocqueville

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Democracy, Liberty, and Property

The State Constitutional Conventions of the 1820s

Merrill Peterson

In one volume, Democracy, Liberty, and Property provides an overview of the state constitutional conventions held in the 1820s. With topics as relevant today as they were then, this collection of essential primary sources sheds light on many of the enduring issues of liberty. Emphasizing the connection between federalism and liberty, the debates that took place at these conventions show how questions of liberty were central to the formation of state government, allowing students and scholars to discover important insights into liberty and to develop a better understanding of U.S. history.

The debates excerpted in Democracy, Liberty, and Property focus on the conventions of Massachusetts, New York, and Virginia, and they include contributions from the principal statesmen of the founding era, including John Adams, James Madison, James Monroe, and John Marshall.

Merrill D. Peterson (1921-2009) was Professor Emeritus of History at the University of Virginia and a noted Jeffersonian scholar.

G. Alan Tarr is Distinguished Professor of Political Science and Director of the Center for State Constitutional Studies at Rutgers University-Camden.

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Democratick Editorials

William Leggett

William Leggett (1801–1839) was the intellectual leader of the laissez-faire wing of Jacksonian democracy. His diverse writings applied the principle of equal rights to liberty and property. These editorials maintain a historical and contemporary relevance.

Lawrence H. White is Professor of Economics at the University of Georgia.

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The Divine Feudal Law

Samuel Pufendorf

Originally published posthumously, in Latin, in 1695, The Divine Feudal Law sets forth Pufendorf’s basis for the reunion of the Lutheran and Calvinist confessions. This attempt to seek a “conciliation” between the confessions complements the concept of toleration discussed in Of the Nature and Qualification of Religion in Reference to Civil Society. In both works Pufendorf examines the proper way to secure the peaceful coexistence of different confessions in a state.

Although he argued in Of the Nature that maintaining peace and order in the state does not require all subjects to share one belief, Pufendorf also believed that “true” Christianity was beneficial to society. For that reason he advocated a reunion of the confessions on the basis of fundamental truths that he believed were contained in the Bible, saying a conciliation should be enforced not by law but by mutual agreement of the dissenting parties. Therefore, the reunion of the confessions must be accompanied by toleration.

Samuel Pufendorf (1632–1694) was one of the most important figures in early-modern political thought. An exact contemporary of Locke and Spinoza, he transformed the natural law theories of Grotius and Hobbes, developed striking ideas of toleration and of the relationship between church and state, and wrote extensive political histories and analyses of the constitution of the German empire.

Theophilus Dorrington (1654–1715) was an Anglican clergyman and polemicist against Dissent.

Simone Zurbuchen is Professor of Philosophy at the University of Fribourg, Switzerland.

Knud Haakonssen is Professor of Intellectual History at the University of Sussex, England.

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Early Economic Thought In Spain 1177-1740

Marjorie Grice Hutchinson

Early Economic Thought in Spain was published in 1978, and in her Foreword the author mentions that the discussion of long-term inflation in Spain from the sixteenth to the eighteenth centuries ought to be of interest since “we live in a time of inflation”. The book can also be read as a history of Spanish responses to the decline of empire. At a number of points the author indicates that her study can be understood as a supplement to Joseph Schumpeter’s History of Economic Analysis (1954).
The chief contribution of this book is a review and summary of the development of economic thinking from the earliest days until about 1740 in one of the most important countries of Europe. Despite, or maybe because, Spain was in decline much of the last two centuries of this period, we are provided, as it were, with a ring-side seat for watching intellectuals come to terms with the forces behind such decline. Some of it, such as inflation, debt-financing, military over-extension, mercantilist protectionism, the preference of elites for their own economic benefit at the expense of the state, and more, will be familiar to readers who are familiar with the economic history of the last hundred years. If the distant mirror of history can help us avoid repeating the mistakes of the past, here is one place to find it.
This book is dedicated to the memory of Leonard Liggio (1933–2014).

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Economic Policy

Thoughts for Today and Tomorrow

Ludwig von Mises

Economic Policycontains six lectures Ludwig von Mises delivered in 1959 for the Centro de Estudios sobre la Libertad in Argentina. This volume serves as an excellent introduction to what Mises sees as the simple truths of history in terms of economic principles. In straightforward language, Mises explains topics such as capitalism, socialism, interventionism, inflation, foreign investment, and economic policies and ideas.Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of Economics throughout most of the twentieth century. He earned his doctorate in law and economics from the University of Vienna in 1906. In 1926, Mises founded the Austrian Institute for Business Cycle Research. From 1909 to 1934, he was an economist for the Vienna Chamber of Commerce. Before the Anschluss, in 1934 Mises left for Geneva, where he was a professor at the Graduate Institute of International Studies until 1940, when he emigrated to New York City. From 1948 to 1969, he was a visiting professor at New York University.Bettina Bien Greaves is a former resident scholar, trustee, and longtime staff member of the Foundation for Economic Education. She has written and lectured extensively on topics of free market economics. Her articles have appeared in such journals as Human Events, Reason, and The Freeman: Ideas on Liberty. A student of Mises, Greaves has become an expert on his work in particular and that of the Austrian School of economics in general. She has translated several Mises monographs, compiled an annotated bibliography of his work, and edited collections of papers by Mises and other members of the Austrian School.

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Economic Sense and Nonsense

Reflectiosn from Europe, 2008-2012

Anthony de Jasay is an independent theorist living in France.

Economic Sense and Nonsense comprises a collection of sixty essays written by Anthony de Jasay for his monthly column “Reflections from Europe,” on Liberty Fund’s Library of Economics and Liberty website. The articles span the years 2008 to 2012 and focus on economic issues of topical concern in Europe.

In this collection Jasay continues his explorations of a number of themes that he developed in his earlier articles, such as the importance of property rights, the role of contracts in economic activity, the proper limitations of the state, and the attitude of intellectuals concerning the regulation of the free market. With the outbreak of the economic crisis of mid-2008, Jasay spends considerable time discussing its origins, the reactions of governments in both Europe and the United States, and the ensuing euro crisis, thus adding another dimension to his analysis of the economic woes of the industrialized world.

Jasay’s analysis demonstrates that the post–World War II experiment in building welfare states in Europe has reached a crisis point that will require deep and radical changes in thinking both by intellectuals about the nature of free markets and by policy makers about the intended and unintended impact of the regulations they adopt.

Anthony de Jasay is an independent theorist living in France.

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Economics and the Public Welfare

Benjamin M. Anderson

In the turbulent years between passage of the Federal Reserve Act (1913) and the Bretton Woods Agreement (1945), the peoples of the Western world suffered two World Wars, two major and several minor international financial panics, an epidemic of currency devaluations and debt repudiations, civil wars, and revolutions. They also enjoyed a decade of unprecedented prosperity and a decade of unprecedented depression and deflation. They also saw the beginning of a period of prolonged, world-wide inflation.

No period in history could serve better as a case study for the analysis of applied economic policy. From his vantage point as economist for the Chase Manhattan Bank and editor of the Chase Economic Bulletin, who participated in much of what he records, Dr. Anderson here describes the climactic events of a turbulent era.

Arthur Kemp is Professor Emeritus of Economics at Claremont McKenna College.

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Education For Life

Correspondence and Writings on Religion and Practical Philosophy

George Turnbull

George Turnbull belongs with a group of early Scottish Enlightenment thinkers, including Francis Hutcheson, who found their native Calvinism too repressive. They sought to relocate religion within a context of reason and science and to establish a tolerant and humane ethic upon values rooted in classical ideals.

In a distinctive voice, Turnbull presented natural-law theory “scientifically,” harnessed the arts to promote moral and civil virtue, and extolled reason as the foundation of liberty. The works in this volume exhibit the close interrelations between these concerns and show him as a paradigmatic “Enlightenment” figure. This extremely rare material includes two Aberdeen graduation theses, three tracts on religion, various writings on education and art, and, for the first time in print, the correspondence of Turnbull.

George Turnbull (1698–1748) was born in Scotland and ordained into the Church of England in 1739. A key figure in the Scottish Enlightenment, he taught moral philosophy at Marischal College, Aberdeen, where one of his pupils was Thomas Reid, who became the main representative of the Scottish Common Sense philosophy.

M. A. Stewart is Honorary Research Professor in the History of Philosophy at the Universities of Lancaster and Aberdeen.

Paul Wood is Professor of History at the University of Victoria.

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An Elegant and Learned Discourse

Nathaniel Culverwell

An Elegant and Learned Discourse of the Light of Nature is a concerted effort at intellectual mediation in the deep religious dispute ofthe English civil war in the seventeenth century. On one side was the antinomian assertion of extreme Calvinists that the elect were redeemed by God’s free grace and thereby free from ordinary moral obligations. Opposite to that was the Arminian rejection of predestination and assertion that Christ died for all, not just for the elect. Faced with the violence of these disputes, Nathaniel Culverwell attempted a moderate defense of reason and natural law, arguing, in the words of Robert Greene, that “reason and faith are distinct lights, yet they are not opposed; they are complementary and harmonious. Reason is the image of God in man, and to deny right reason is to deny our relation to God.” Culverwell presented this understanding of the role of reason by expounding upon Proverbs 20:27, “The understanding of a man is the Candle of the Lord.”This was a favorite text among the Cambridge Platonists (Whichcote, Cudworth, Smith, and More), to whom Culverwell was close. He had obviously absorbed much also from Bacon, Grotius, and Selden. However, the most profound influence on him was that of the Spanish Jesuit Francisco Suárez’s De Legibus, ac Deo Legislatore (1612), which is also part of this series.An Elegant and Learned Discourse was delivered as a series of sermon-like lectures at Emmanuel College, Cambridge, in 1645/46 andpublished posthumously in 1652.

Nathaniel Culverwell (1619–1651) was a fellow of Emmanuel College, Cambridge.Robert A. Greene is Professor of English at the University of Massachusetts at Boston.Hugh MacCallum was Professor Emeritus of English at the University of Toronto.Knud Haakonssen is Professor of Intellectual History and Director of the Centre for Intellectual History at the University of Sussex, England.

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