Study Guide to Man, Economy, and State with Power and Market

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Chapter 5: Binary Intervention: Government Expenditures 223 dictatorship or ushering in a totally free market)? “Democratic socialism” is infeasible, because the government ultimately decides on how many resources go to various propaganda efforts, and can determine the occupations of the opposition leaders. The implementation of democracy is also riddled with problems. In a representative government, the delimitation of voting districts is completely arbitrary. National government and democracy are likewise inconsistent, because the only nonarbitrary pool of voters is the world population. Besides these practical questions, there is the more fundamental one: Why is democracy supposed to be so good? There are countless historical examples of the public making ignorant and evil decisions. It is also far from obvious that democracy is an effective means to check the growth of State power. APPENDIX: The Role of Government Expenditures in National Product Statistics Simon Kuznets originally measured the size of government production by taxes paid, operating on the analogy with consumer expenditures for a private good or service. The problem is that taxpayers do not voluntarily give their funds for such “services.” The Department of Commerce instead calculates on the basis of the total “cost” of a given program, and hence the bigger the government deficit, the more it is “serving” the community. For a more accurate approach, economists ought to first calculate Net National Product and then subtract either total government taxes or expenditures, whichever is higher.
224 Study Guide to Man, Economy, and State with Power and Market Notable Contributions • Rothbard’s rejection of the Keynesian concept of government “investment” (p. 1259) relies on a praxeological understanding of means and ends. • Rothbard advances many novel objections to democracy (pp. 1279–91), most of which would be dismissed as unworthy of response by “serious” scholars because they are so fundamental.
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CONTENTS INTRODUCTION . . . . . . .
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In June of 2004, I became convinced
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Introduction ix appropriate, I have
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Chapter Summary In a money economy,
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Chapter 4: Prices and Consumption 4
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Chapter Summary In the evenly rotat
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Chapter 6: Production: The Rate of
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Chapter Summary This chapter explai
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Chapter 7: Production: General Pric
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Chapter Summary Entrepreneurial pro
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Chapter 8: Production: Entrepreneur
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Chapter Summary Consumer preference
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Chapter 10: Monopoly and Competitio
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Chapter Summary Like all goods, the
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Chapter 11: Money and Its Purchasin
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Page 262 and 263: Index 251 Equilibrium, 47, 104 macr
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Page 266 and 267: Index 255 See also Economy, Evenly
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