The Property and Freedom Society

From Louis Rossman:

Summary: Louis Rossmann explores the emergence of open-source alternatives to Adobe software built using artificial intelligence. The discussion examines the legal landscape of reverse engineering, current DMCA regulations, and the potential for future corporate lobbying efforts to restrict software interoperability and control digital ownership.

Excerpt from transcript: [continue reading…]

From Rahim Taghizadegan:

The day has come. AI can finally thwart the most toxic and socially devastating career dreams ever sold to young women: influencer, TikTok star, OnlyFans.

The French girl in this clip does not exist. Her song is an earworm with a superb narrative in lyrics and film, better than most human pop slop, which is far more generic. Anyone with a browser and a subscription can now produce her, and that is good news above all for real young women. The attention market paid them to sell their youth, their privacy and in the end their bodies to strangers, and since it paid narcissism best, it bred narcissism in a whole generation.

Unfortunately, we are now entering an awkward interim phase. The market-financed toxic careers for female narcissists are disappearing, but the state is not bankrupt yet. So the talent moves to where the taxpayer still pays: NGO director, salaried antifa activist, trauma counsellor for France’s looters. There is too little market demand for any of these, so they will only go away with the state’s bankruptcy.

France is working on it. https://t.co/0pFbdoc03W

— Rahim Taghizadegan (scholarium.at) (@scholarium_at) October 21, 2026

Kinsella on Liberty Podcast: Episode 504.

My appearance on Bitcoin Infinity #225, With Knut Svanholm.

Shownotes:

Stephan Kinsella joins the Bitcoin Infinity Show to talk about why you can’t legally own Bitcoin, what the difference between ownership and possession means for self-custody, and whether the July 2026 Coldcard hack was really theft. Knut and Stephan dig into Austrian economics, libertarian contract theory, why fractional reserve banking is harder on a Bitcoin standard, and how Bitcoin could limit the state’s ability to borrow and tax. They also look back at the Property and Freedom Society’s 20th anniversary in Bodrum, Murray Rothbard’s centennial, Hans-Hermann Hoppe’s split with the Mises Institute, and their Austrian economics panel at BTC HEL in Helsinki.

Read more>>

From PFSer Martin Martín Cabrera¹, re Jörg Guido Hülsmann, “Garrisonian Macroeconomics,” Q. J. Austrian Econ. 4, no. 3 (Fall 2001): 33–41:

Great insight by Jörg Guido Hülsmann on the distinction between microeconomics and macroeconomics:

“Modern macroeconomics began with Böhm-Bawerk’s seminal Capital and Interest. The epithet “modern” is shorthand for “post-Ricardian” and refers most notably to the application of methodological individualism in explanations of phenomena such as the production structure, capital, and money interest. Böhm-Bawerk showed that and how these phenomena, which affect more or less all members of society (“the economy as a whole”), result from individual human action and interaction. Menger had pioneered this method. He had shown how prices on individual markets spring from the acting person’s evaluation of marginal quantities of economic goods. Böhm-Bawerk did nothing but extend the application of this method to explain how the various markets interrelate, what costs are, and how and why interest comes into existence. Later, Mises applied the very same method to explain the impact of money on the economy, and to analyze the business cycle. With Mises’s 1912 treatise on money, Austrian economics had come full circle, giving a coherent and encompassing explanation of all economic phenomena (see Mises 1980).

It is therefore of little surprise that the early Austrian economists did not distinguish between microeconomics and macroeconomics. There was in their eyes only one type of economic analysis, which was based on certain invariable facts of human action—such as “only individual persons act,” “acting involves choosing,” “choice refers to marginal units of economic goods”— and which was able to give a satisfactory explanation of all economic phenomena. From this point of view, one might call certain phenomena “macroeconomic” because they are virtually immune from the choices of any given person, but result from the combined effect of the choices of great masses of people; and one might call other phenomena “microeconomic” because here the impact of individuals is perceptible and important. But this distinction is entirely nominal—it is an artificial convention without foundation in real differences. The fact is that all economic phenomena result from individual choices; hence, Menger’s method can be applied universally; and ultimately there can be only one unified economic science, just as there is only one real world that this science describes.”

— MⒶrtin C. Gamazo 🟨⬛🇦🇹 (@MartinCGamazoR) October 20, 2026

1. First Guatemalans at the PFS. [↩]

In 2024, the Property and Freedom Society published A Life in Liberty: Liber Amicorum in Honor of Hans-Hermann Hoppe, Jörg Guido Hülsmann and Stephan Kinsella, eds. (Houston, Texas: Papinian Press, 2024), on the occasion of Professor Hoppe’s 75th birthday on Sept. 2, 2024.

Most of the the pieces were not published in HTML text form as separate articles; we will be posting them in this Bookstream. The Preface was republished in the inaugural post in this Bookstream: A Life in Liberty Bookstream: Preface — Hülsmann and Kinsella. Links to the remaining chapters may be found at the book’s landing page here. Here’s the next entry—

[continue reading…]

PFS Members have long been able to sign up to the PFS-Announce Google Group for PFS general announcements (see Contact and Membership to sign up).

PFS Members and others in the general public interested in following PFS content at our website may subscribe to our newly redesigned PFS Newsletter, designed by Pedro Figueiredo of our IT team at neurons.pt (we are also working with Pedro on a PFS website refresh later this year). We have updated the old PFS email newsletter to make it easier to keep up with new articles, blog posts, announcements and podcasts. You can now choose how often you hear from us:

• Daily: one email with new publications from the last 24 hours.
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Each recap brings the new material together, with links to read or listen on the PFS website. If there is nothing new, no recap is sent. You can change delivery or unsubscribe at any time.

Subscribe here: https://propertyandfreedom.org/newsletter/

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Please share this with like-minded libertarian friends who would enjoy following PFS. Send them the newsletter page so they can choose their own subscription:

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Really thankfull for having the opportunity to interview this two giants:

Hülsmann and @NSKinsella https://t.co/SERNV0gGSY

— Jorge Muñoz (@jorgemmunoz) October 18, 2026

@miguelhzv @NSKinsella Kinsella: https://t.co/PGk7wY1ZCD

Hulsmann: https://t.co/9t6NVZRcaz

— Jorge Muñoz (@jorgemmunoz) October 19, 2026

KOL500 | Libertad Individual Interview: Rothbard’s Framework, Legal Theory, Property Rights, Contract, Intellectual Property, Corporations, and More

Video of the presentations from the PFS 2026 (Twentieth) Annual Meeting are now online PFS 2026 Youtube Playlist.

Audio of the talks will be podcast seriatum weekly on Mondays beginning with today’s PFP358 | Gülçin Imre Hoppe & Hans-Hermann Hoppe, Welcome and Introductions (PFS 2026).

Photographs will be posted presently.

On another housekeeping note: we are working with our volunteer IT assistant Pedro Figueiredo to make some technical changes to the site, including the email newsletter subscription feature. Stay tuned—

As The Donald is wont to say, Thank you for your attention to this matter!

In 2024, the Property and Freedom Society published A Life in Liberty: Liber Amicorum in Honor of Hans-Hermann Hoppe, Jörg Guido Hülsmann and Stephan Kinsella, eds. (Houston, Texas: Papinian Press, 2024), on the occasion of Professor Hoppe’s 75th birthday on Sept. 2, 2024.

Most of the the pieces were not published in HTML text form as separate articles; we will be posting them in this Bookstream. The Preface was republished in the inaugural post in this Bookstream: A Life in Liberty Bookstream: Preface — Hülsmann and Kinsella. Links to the remaining chapters may be found at the book’s landing page here. Here’s the next entry—. See also:

• Hans-Hermann Hoppe Victory Blog
• Kinsella and Tucker, “The Ordeal of Hoppe,” The Free Market, Volume 25, Number 4 (April 2005)

[continue reading…]

Podcast: Play in new window | Download (17.7MB)

Property and Freedom Podcast, Episode 358.

These introductory remarks are from the recently-concluded PFS 2026 Twentieth Annual Meeting (Sep. 17–22, 2026, Bodrum, Turkey).

Gülçin Imre Hoppe (Turkey) & Hans-Hermann Hoppe (Germany/Turkey): Welcome and Introductions.

Other talks will appear on the Property and Freedom Podcast weekly, on Mondays, in upcoming weeks. Other videos may also be found at the PFS 2026 Youtube Playlist.

Every so often the @ClaremontInst Review of Books has an essay or two hinting at deviation from its Straussian/Jaffaite roots. So does its American Mind sister site. Call it an occasional softening toward Old Right/Paleo traditions, and a slight but detectable distancing from Con. Inc. This is also evident in the numerous Claremont alums active in the Trump administration– a fact not escaping the ire of National Review types. In short, Claremont has at least attempted to update its operating system in light of an entirely new landscape.

But then… a new edition of CRB arrives at my doorstep full of relapses into the worst Boomer constitutionalism and silly hagiography to some founding Father. Throw in another dose of Lincoln idolatry and anti-Southern animus, or another tired ode to Churchill, and the issue is a complete bust. Not even a reflection on Fowler’s Modern English Usage at 100 can save it.

I credit Christopher Caldwell mightily for attacking the most sacred cow in his Age of Entitlement book, and there are some very good voices in the CRB bullpen (Michael Anton, @ToryAnarchist). But the inertia may be too strong. It’s hard to ally with people who want to write about China or Ben Franklin at this very late stage of what they themselves contend is a propositional American experiment.

The Right needs serious, erudite publications for lay audiences, and Claremont Review is the closest thing. But we need populist, pragmatic, anti-interventionist organs of the same magnitude, perhaps expanding on @ChroniclesMag. This requires actually paying writers real sums of money for serious articles, something almost totally lost in the digital age.

— Jeff Deist (@jeffdeist) August 9, 2026

Every so often the  @ClaremontInst Review of Books has an essay or two hinting at deviation from its Straussian/Jaffaite roots. So does its American Mind sister site. Call it an occasional softening toward Old Right/Paleo traditions, and a slight but detectable distancing from Con. Inc. This is also evident in the numerous Claremont alums active in the Trump administration– a fact not escaping the ire of National Review types. In short, Claremont has at least attempted to update its operating system in light of an entirely new landscape.

But then… a new edition of CRB arrives at my doorstep full of relapses into the worst Boomer constitutionalism and silly hagiography to some founding Father. Throw in another dose of Lincoln idolatry and anti-Southern animus, or another tired ode to Churchill, and the issue is a complete bust. Not even a reflection on Fowler’s Modern English Usage at 100 can save it. [continue reading…]

Message à la droite française.

Vous allez probablement gouverner en 2027. Alors je vous parle franchement, de l’extérieur : je suis économiste de l’école autrichienne et je vous écris de Suisse.

Hier soir, à Limoges, une mairie de 1883 a brûlé et son clocher est tombé. Elle avait été payée par une France qui produisait encore. Elle a été brûlée par une France qui ne fait plus que distribuer. Les formes survivent longtemps à leur raison d’être. Puis elles brûlent.

Rien de ce que l’État pleure aujourd’hui n’a été bâti par lui. Les banques, les lettres de change, la comptabilité, les bourses : les villes les ont faites, entre marchands qui se devaient des comptes. La couronne les a encaissées et a appelé le produit « la France ». Le comité a hérité du tout. Les fruits de la liberté se récoltent dans des phases de non-liberté croissante, et c’est pourquoi l’on prend si facilement le centralisme pour la cause de la prospérité.

Je le dis comme je le pense : la Révolution française fut une erreur, et le centralisme qui la suivit en fut une autre. La théorie étatique de la monnaie n’a fait en 1789 que changer d’habit, de l’hermine au comité. Le comité est devenu ministère, le ministère déficit.

Écoutez la rue : elle veut plus d’État. Un des plus gros déficits de la zone euro, et une foule qui le veut plus gros. Une religion de salut dont le dieu est en faillite ne perd pas de fidèles ; elle hausse la voix et, hélas, ses briquets.

Il n’y a pas de complot, ni à gauche ni à droite. L’Occident s’est relâché après une surtension excessive et névrotique, et dans le vide s’est avancée la religion de substitution de l’étatisme : le salut par l’État, la rédemption dans le nous collectif. La plus grande part de la faute, aussi paradoxal que cela paraisse, revient aux prétendus conservateurs. Un appareil se nourrissait en parasite des institutions et consommait leur capital, et les conservateurs appelaient cela préserver. Ils ont donné bonne conscience au déclin.

Et l’immigration ? Vous pouvez la régler demain matin, vous n’aurez soigné que la fièvre. L’immigration de masse subventionnée vers l’État-providence, menée sous le mensonge du réfugié, est le dernier symptôme : le point culminant d’une naïveté hors du réel, d’un formalisme aveugle et de la consommation de statut et de revenu dans l’État thérapeutique. Qui y voit la cause confond la poussée de fièvre avec la maladie.

Et ne comptez pas sur le patriotisme pour vous sauver de l’étatisme : il en est la forme d’origine. La nation est née en 1789 avec le comité, la conscription et l’impôt pour tous, et la droite « patriote » vit aujourd’hui du même jeu à somme nulle que la gauche : servir les nôtres contre les autres avec l’argent d’une machine qui ne produit rien. Sans la machine, elle n’aurait rien à promettre. L’électoralisme est le cœur du système, pas une faiblesse de vos candidats : il sélectionne une classe qui distribue et une foule qui attend la distribution. Il est trop tard pour le patriotisme ; il faisait partie du problème.

Ne cherchez pas non plus le moment où revenir. Ce moment n’existe pas : tout moment que l’on voudrait ramener est une récolte, et les récoltes ne se répètent pas, mais bien les semailles. Ce qui demeure de la nostalgie, c’est le costume, et le costume pris au sérieux devient un jeu de rôle qui ne veut plus que célébrer sa certitude de salut.

On ne renoue pas avec un moment. On renoue avec un momentum : l’autonomie des villes, la décentralisation, la confiance entre étrangers, l’ambition culturelle, l’esprit d’entreprise, l’invention, l’individu qui ose quelque chose et en répond. La France en avait plus que quiconque, dans ses villes, ses foires, ses salons et ses ateliers.

Il n’y faut pas de programme ; les programmes sont la figure sous laquelle un moment se défend contre le temps. Il y faut des hommes qui fondent, découvrent, inventent, tiennent une maison sur des générations et contredisent une autorité lorsqu’ils savent mieux qu’elle. Et des institutions qui leur donnent durée, dignité et liberté, au lieu de les traiter en suspects.

On ne ramène pas 1883. On peut ramener ce qui l’a bâti.

— Rahim Taghizadegan (scholarium.at) (@scholarium_at) October 18, 2026

A town hall from 1883, paid for by a France that still produced, burned tonight by a France that only distributes. Forms outlive their purpose for a long time. Then they burn. https://t.co/vaMI6KzkMt

— Rahim Taghizadegan (scholarium.at) (@scholarium_at) October 17, 2026

Translation of first Tweet and related article by Rahim below.

Translation of Tweet

By Rahim Taghizadegan (scholarium.at)
Originally posted on X, 18 October 2026.

Message to the French right.

You will probably govern in 2027. So I speak to you frankly, from the outside: I am an Austrian School economist and I write to you from Switzerland.

Last night in Limoges, a town hall from 1883 burned and its bell tower fell. It had been paid for by a France that still produced. It was burned by a France that does nothing but distribute. Forms long outlive their reason for being. Then they burn. [continue reading…]

I came across this talk by Murray Rothbard when I was writing a post about Brexic (Why I Was Against Brexit): The Current State of World Affairs | Murray N. Rothbard (1989):

Murray N. Rothbard delivers a sweeping analysis of world affairs at the 1989 Texas State Libertarian Conference, recorded at the Embassy Suites in Austin, Texas (most likely Saturday, June 17, 1989). Speaking just days after the Tiananmen Square massacre, the death of Ayatollah Khomeini, and Poland’s landmark elections, Rothbard surveys the accelerating collapse of communism in Eastern Europe, the crisis of the welfare-warfare state in the West, hyperinflation in Argentina, the S&L bailout scandal, and the internal politics of the Libertarian Party — including the upcoming Philadelphia national convention. The lecture is followed by a Q&A session..

He covers, inter alia: the Current State of World Affairs, Texas State Libertarian Conference (Austin, 1989): Collapse of Socialism and Communism, Technology Undermines Totalitarianism, Destatization Problem, End of the Cold War, War on Drugs as New Statism, Libertarian Opportunities Under Bush, LP Leadership Failures, and More. For example, he covers:

• Collapse of Socialism / Communism (core theme from the opening through Eastern Europe and the Soviet bloc)
• Technology vs. Totalitarianism (copy centers, personal computers, typewriters ending sealed totalitarian systems)
• Destatization / “How Do You Destatize?” (his pointed complaint about the lack of serious work on privatizing after communism)
• End of the Cold War (and the resulting pressure on the military-industrial / foreign-policy complex)
• Libertarian Party Failures (or opportunities under Bush) — the practical, insider critique that closes the main lecture

[continue reading…]

In 2024, the Property and Freedom Society published A Life in Liberty: Liber Amicorum in Honor of Hans-Hermann Hoppe, Jörg Guido Hülsmann and Stephan Kinsella, eds. (Houston, Texas: Papinian Press, 2024), on the occasion of Professor Hoppe’s 75th birthday on Sept. 2, 2024.

Most of the the pieces were not published in HTML text form as separate articles; we will be posting them in this Bookstream. The Preface was republished in the inaugural post in this Bookstream: A Life in Liberty Bookstream: Preface — Hülsmann and Kinsella. Links to the remaining chapters may be found at the book’s landing page here. Here’s the next entry—

[continue reading…]

Wanjiru Njoya, “Natural Law Principles in the Conservative Tradition,” Mises Wire (10/13/2026).

Gemini summary

The Conservative Ideological Divide: The article opens by examining a modern split among conservatives (using Texas politics as an example) between “Heritage Republicans”—who believe nations are historically rooted communities tied to time and place—and “Creedal Republicans,” who believe a nation is defined by abstract shared ideas and civil rights consensus. [continue reading…]

Below I post Saifedean Ammous‘s article “Does Bitcoin’s Fixed Supply Make It Too Volatile to Be Money? A Response to Professor White” (Oct. 13, 2026) and some some related recent exchanges between Ammous and freebanker George Selgin.

Related

• Stephan Kinsella, The Great Fractional Reserve/Freebanking Debate (Jan. 29, 2016)
• ——, “Comments on Block and Barnett on the Optimum Quantity of Money,” StephanKinsella.com (March 26, 2021)
• ——, “On Gold, the Optimal Amount of Money, Hypersubjectivism, and Demonstrated Preference,” StephanKinsella.com (May 10, 2025)
• ——, On Coinbase, Bitcoin, Fractional-Reserve Banking, and Irregular Deposits (July 12, 2022)
• ——, “Musings on Fractional-Reserve Banking in a Bitcoin Age; Physicalist Metaphors” (May 8, 2023)
• Stephan Livera “In Defense of Bitcoin Full Reserve: Not Anti-Credit, but Anti-Fiduciary Media,” Bitcoin Magazine (July 28, 2022)

I’ve never come across an economist willing to explain clearly why Bitcoin’s fixed supply is a problem and why and how this compromises its operation.

It would be enormously valuable if someone literate could present that argument in a form more coherent than snarky eyerolls.

— Saifedean Ammous (@saifedean) October 19, 2019

[continue reading…]

In 2024, the Property and Freedom Society published A Life in Liberty: Liber Amicorum in Honor of Hans-Hermann Hoppe, Jörg Guido Hülsmann and Stephan Kinsella, eds. (Houston, Texas: Papinian Press, 2024), on the occasion of Professor Hoppe’s 75th birthday on Sept. 2, 2024.

Most of the the pieces were not published in HTML text form as separate articles; we will be posting them in this Bookstream. The Preface was republished in the inaugural post in this Bookstream: A Life in Liberty Bookstream: Preface — Hülsmann and Kinsella. Links to the remaining chapters may be found at the book’s landing page here. Here’s the next entry—

[continue reading…]

Related

• Kinsella, Consistency: Point/Counterpoint: Emerson, Rand, Kinsella
• ——, “What Libertarianism Is,” in Legal Foundations of a Free Society, pp. 27 et seq.: on “Consistency and Principle”; also Preface, p. xxi; “How I Became A Libertarian,” p. 6

Being a libertarian in a statist world can be exhausting.

Trying to get your average normie to see the inherent and unfixable problems with government can feel like explaining color to someone who only sees in grayscale — or worse, who was born blind.

I’ll be clearly and calmly laying out the structural incentives, the data, the historical track record, and they nod politely before circling back to “but who will build the roads?” or “we need regulations or corporations will poison us all.”

It’s painful, and it happens way more often than it should if this were purely an information problem. [continue reading…]

Kinsella on Liberty Podcast: Episode 502.

This is my conversation on Liquid Zulu’s Twitter Space (@PunishedZulu), recorded Oct. 12, 2026. Topics discussed include why property rights require scarcity, the case against IP as non-consensual negative servitudes, critiques of Locke, Rand, and utilitarian arguments, Objectivism and Atlas Shrugged, AI training and copyright liability, international IP treaties, and whether Bitcoin can be owned.

Read more>>

Oscar Grau, “The Rise, Failure, and Relevancy of Paleolibertarianism,” Libertarian Institute (Oct 13, 2026). Reprinted below, with permission of the author, since The Libertarian Institute unfortunately employs a closed copyright model. [continue reading…]

Two bags and a tower: the cover of «My Bags Are Big»

From Rahim Taghizadegan, “A Scholion on a Bitcoin Novel“: “Tibor Fischer’s ‘My Bags Are Big,’ the Houellebecq question and the difference between Bitcoin and crypto,” scholarium (13 September 2026). Regarding: Tibor Fischer, My Bags Are Big (Salt Publishing, 2026; Amazon.com; Amazon.de)

From Rahim’s tweet:

“The first great Bitcoin novel,” says the cover.

The author is Tibor Fischer: Booker shortlist for his debut, named by Granta among the best young British novelists alongside Kazuo Ishiguro.

Bitcoin works in his novel exactly once: for a dealer on his way to prison.

The blurb comes from @resistancemoney, co-author of “Resistance Money,” a philosophical defence of Bitcoin as the money of resistance. In “My Bags Are Big” nobody resists anything. Bitcoin is a price, a chart, a party joke and a pile of bags in Dubai, belonging to a man who fed a twenty-pound note into a Bitcoin machine in 2016.

The exception is the dealer. Before his conviction he moves his cash into Bitcoin, sits out three years and buys a country house. Money is for strangers, in the limiting case for enemies.

What the novel leaves out lies closest to its author. Fischer’s parents left Hungary in 1956, ten years after the fastest inflation in history, when prices doubled roughly every 15 hours. In the book, inflation never comes up.

A Bitcoin novel without inflation is a crime novel with the crime left out.

My scholion on it:

https://t.co/sV1MmPhi5P

— Rahim Taghizadegan (scholarium.at) (@scholarium_at) October 12, 2026

[continue reading…]

According to Thomas Hobbes, life in the state of nature was “solitary, poor, nasty, brutish, and short”: a permanent war of all against all, ended only by the emergence of a sovereign power. Libertarians have spent three centuries answering him with an optimistic rebuttal: the natural condition of humanity is cooperation, exchange, and division of labor rather than the gloomy homo homini lupus that Hobbes imagined. Strangers trade instead of killing each other because trade pays better than plunder. Progress is the story of win-win contracts, of a society based on trust, not the story of Leviathan imposing peace from above.

But suppose that Hobbes had been right? [continue reading…]

In 2024, the Property and Freedom Society published A Life in Liberty: Liber Amicorum in Honor of Hans-Hermann Hoppe, Jörg Guido Hülsmann and Stephan Kinsella, eds. (Houston, Texas: Papinian Press, 2024), on the occasion of Professor Hoppe’s 75th birthday on Sept. 2, 2024.

Most of the the pieces were not published in HTML text form as separate articles; we will be posting them in this Bookstream. The Preface was republished in the inaugural post in this Bookstream: A Life in Liberty Bookstream: Preface — Hülsmann and Kinsella. Links to the remaining chapters may be found at the book’s landing page here.

Here’s the next entry: “In Honor of Hans Hoppe,” by Llewellyn H. Rockwell, Jr. Regarding this piece, see also Stephan Kinsella, “My Years with the Mises Institute,” Property and Freedom Journal (May 2, 2026), regarding the odd reference to Salerno at the end of this piece. See also Rockwell’s contribution to the previous Hoppe Festschrift, “A Life of Ideas,” in Property, Freedom, and Society: Essays in Honor of Hans-Hermann Hoppe, Jörg Guido Hülsmann and Stephan Kinsella, eds. (Auburn, Ala.: Mises Institute, 2009).

[continue reading…]

Patrick McGuinness, the author of a recent draft paper, “The Zero–Equity Identity: Monetary Claims, Settlement, and Equity,” Zenodo (preprint/draft, Oct. 4, 2026, Version 1.0.1) sent the link to Dr. Hoppe, given some recent video clips where Hans, discussing the issue of printing money and wealth, asked the elementary question “please explain how pieces of paper make society richer.”

I confess when I see equations in such a paper and casual assertions like money or “financial equity” is a “net claim for resources,” red flags go off. I have not had time to pore through it but had Grok analyze it in view of some of Hoppe’s writing on economics and my comments on distinctions between economic/descriptive and legal phenomenon as well as between the Rothbardian title-transfer view of contracts as opposed to the conventional (and Reinachian) view of such rights as obligations and promises. [continue reading…]