≡ Menu

Interview of Guido Hülsmann by Matthew Geiger of the Carl Menger Institute

Related:

{ 0 comments }

From Guate Libre Mises: “Panini” stickers for Rothbardians (e.g. Rothbard, Mises, etc.).

I never heard of this before, I don’t follow soccer, but according to Grok:

A Panini sticker is a small, collectible adhesive picture (usually about the size of a trading card) featuring soccer players, teams, crests, stadiums, and other World Cup-related images. You peel off the backing and stick them into a dedicated album to “complete” the collection.

It’s like baseball cards or Pokémon cards, but specifically stickers designed to fill pages in a big book. The quote you shared captures it perfectly—it’s a global tradition run by the Italian company Panini that’s been going strong since the 1970 World Cup.

See: Panini sites for the FIFA World Cup 2026 Sticker Collection: Panini America; Main sticker collection page; International Panini Store; MyPanini; FIFA Panini Collection.

{ 0 comments }

Doug French, “Fertility Down, Social Security in Trouble,” DouglasinVegas.com, 2023/6/10

Bad news for everyone depending on Uncle Sam’s Ponzi scheme was released the other day, “Social Security is expected to deplete the fund that helps pay out retirement benefits by late 2032,” reported The Wall Street Journal.  That would be just six years away. Last year the projected depletion date was 2033, so who knows maybe next year expected depletion date will be 2031.

Trump’s tax law gave senior citizens an extra deduction that reduced taxes on benefits for many Social Security recipients.  Those still working don’t qualify. [continue reading…]

{ 0 comments }

[Cross-posted at C4SIF.org]

[continue reading…]

{ 0 comments }
Jeffrey A Tucker

, Since Lockdowns, a 12% GDP Loss; Half of US Dollar Purchasing Power Stolen,” Brownstone Journal (June 2, 2026)

Since Lockdowns, a 12% GDP Loss; Half of US Dollar Purchasing Power Stolen

Since Lockdowns, a 12% GDP Loss; Half of US Dollar Purchasing Power Stolen

Many of us have had the intuition that the economic damage from 2020 – including industrial stoppages, monetary printing, supply-chain disruptions, extended school closures, and general population demoralization – was in fact far greater than official statistics indicate.

What follows will shore up this intuition, using new techniques and numbers from an innovative project called RealityIndex.co.

It’s true that official data is bad enough, showing a 26% loss in purchasing power, slow growth in output, and only marginal improvements in real income. The labor participation rate and worker/population ratio never fully recovered and continue to fall.

[continue reading…]

{ 0 comments }

Adam Haman, “The Karmelo Anthony / Austin Metcalf Tragedy: A Pointless Murder, Professional Agitators, and the Left’s Racial Poison,” Haman Nature (Jun 10, 2026)

Hi folks. Yesterday was momentous in a horrible kind of way.

The long-awaited Anthony/Metcalf murder trial has finally come and gone — much like poor Austin Metcalf’s tragically truncated existence on this earth.

Another young life snuffed out over nothing. Another courtroom spectacle turned into a racial circus. The verdict is in, the sentence handed down, and yet I think the real story keeps getting buried and twisted under layers of grievance theater.

Yesterday (June 9, 2026) a Collin County, Texas jury convicted 19-year-old Karmelo Anthony (17 at the time of the incident) of first-degree murder for the April 2, 2025, stabbing death of 17-year-old Austin Metcalf at a Frisco ISD track meet. [continue reading…]

{ 0 comments }

Fascinating piece by Mr. Wang: Sebastian Wang, “Distributivism: Property, Liberty, and the Common Good,” Libertarian Alliance (UK) (10 June, 2026).

Thomas Jefferson's Utopia? AI Distributivism similar to Jean-François Millet's The Gleaners (1857) or Millet's The Angelus (1857–59)

Distributivism: Property, Liberty, and the Common Good

Sebastian Wang
Libertarian Alliance (UK), 10 June, 2026

Distributivism is one of those doctrines that is usually dismissed before it is understood. To the modern liberal, it sounds like nostalgia for a vanished world of small farms, local tradesmen, village workshops, and parish life. To the socialist, it appears too timid, because it does not abolish private property. To the more doctrinaire libertarian, it can look too moralising, too Catholic, and too willing to talk about the common good. Yet these dismissals tell us more about the limits of modern political imagination than about distributivism itself. The real question raised by distributivism is not whether we can return to a world of blacksmiths and thatched cottages. We cannot. The question is whether a society can remain free, humane, and morally serious when productive property is concentrated either in the hands of the state or in the hands of a comparatively small class of corporate owners. [continue reading…]

{ 0 comments }

One of my favorite Hoppe pieces: “A Realistic Libertarianism,” LewRockwell.com (Sept. 30, 2013). I have never agreed that libertarians are left or right, that we are “orthogonal,” yet I have always sensed a closer affinity between conservativism and libertarianism than between modern American leftist/liberal/progressives and libertarianism.

Of course, all non-libertarians are in a sense statist and socialist (see quotes below). And as I noted in “What Libertarianism Is,” Hoppe, in his treatise A Theory of Socialism and Capitalism (chapters 3–6), provides a systematic analysis of various forms of socialism: Socialism Russian-Style, Socialism Social-Democratic Style, the Socialism of Conservatism, and the Socialism of Social Engineering. In fact, recognizing the common elements of various forms of socialism and their distinction from libertarianism (capitalism), Hoppe incisively defines socialism as “an institutionalized interference with or aggression against private property and private property claims.” Ibid., p. 2 (emphasis added).1

But this does not mean that libertarianism is equidistant, so to speak, between left and right. In the past, I have described the modern American left and right this way: “liberals” are soft socialists. Conservatives are an incoherent hodgepodge of three mostly unrelated groups: moral majority/cultural conservatives, neocon warmongers/muscular Americanism, and free enterprise “Chamber of Commerce” types–the best of the bunch. In the era of Trump this may have shifted a bit but the point is the left seemed somewhat coherent but evil, socialism-lite; the right was an incoherent agglomeration of different factions, with some loose admiration of traditional and classical values, respect for free markets and capitalism, wariness of big government and respect for the Founders and the Constitution and its supposed limits on state power.2 [continue reading…]

  1. See also KOL154 | “The Social Theory of Hoppe: Lecture 2: Types of Socialism and the Origin of the State.” []
  2. Fake ones, but still. See Rockwell on Hoppe on the Constitution as Expansion of Government Power; Spooner on Knaves, Dupes, and the Constitution; and the Highwayman vs. The State. []
{ 0 comments }

Joel Salatin, “Subsidies Warp Technology Markets and Rob Society of Better Solutions,The Epoch Times (6/5/2026)

Cows graze in the area where a proposed data center will be built in Utah on May 15, 2026. Natalie Behring/Getty Images

Subsidies Warp Technology Markets and Rob Society of Better Solutions

AI data centers. The very phrase makes some folks shudder and others leap for joy. As these mega-developments proceed, more and more people are growing concerned about their energy and water requirements. [continue reading…]

{ 0 comments }

[Cross-posted at HansHoppe.com]

Translation of René Scheu and Hans-Hermann Hoppe, “Hans-Hermann Hoppe im Gespräch” [Hans-Hermann Hoppe in conversation], Schweizer Monat Issue 982 (Dec. 13, 2010) (pdf), a German-language interview on the topic of democracy and private law society, with the Swiss monthly Schweizer Monatshefte (Dec. 2010).

Interview
Issue 982 – December 2010

Hans-Hermann Hoppe in conversation

Hans-Hermann Hoppe is one of the most controversial libertarian intellectuals of the present day. He offers in his books a radical critique of democracy. It is for him that form of state in which a majority skillfully helps itself at the expense of a minority. René Scheu met Hans-Hermann Hoppe in Zurich and Lech am Arlberg. After the preliminary talks, the exchange of ideas took place in a classic-binding manner via e-mail.

by René Scheu and Hans-Hermann Hoppe
12/13/2010

Mr. Hoppe, with friends in Brazil I recently led an intensive discussion about the advantages and disadvantages of direct-democratic models. When I explained to them the political system of Switzerland, in which the people have the last word, their spontaneous answer was: “That is indeed the purest communism!” We see that differently in Switzerland and are proud of our direct-democratic tradition, for which many Europeans envy us. How do you see that?

Hans-Hermann Hoppe: Yes, of course democracy, whether direct or indirect, is a form of communism. A majority decides about what belongs to me and what belongs to you and what I and you are allowed to do or not. That has nothing to do with private property, but very much with the relativization of property, thus with common property, thus with communism. [continue reading…]

{ 0 comments }

Marian Halcombe, “Henry Nowak and the Selective Morality of the Left,”  Libertarian Alliance (UK) (7 June, 2026)

Related

Henry Nowak and the Selective Morality of the Left

The death of Henry Nowak was a terrible crime. A young man was stabbed to death. The police response appears to have been grossly inadequate. His killer, Vickrum Digwa, was arrested, prosecuted, convicted, and sentenced to life imprisonment. Nothing that follows should obscure these facts. Nor should anything that follows diminish the grief of Henry Nowak’s family, whose dignity in bereavement has been evident throughout.

At the same time, there are events that refuse to remain private. They illuminate wider truths about the society in which they occur. They reveal assumptions and habits of thought that extend far beyond the immediate circumstances. The reaction to Henry Nowak’s death has become one of those events.

Particularly revealing has been the response of the left-wing blogging collective Sodium Haze. Their statement deserves careful attention, not because it is especially unusual, but because it is representative. It expresses with unusual clarity a habit of thought that has become hegemonic throughout much of the contemporary left. [continue reading…]

{ 0 comments }

The Data Center Bubble

The Data Center Bubble“.  Originally posted at DouglasinVegas.com, 2023/6/3

It’s AI this and AI that on Wall Street everyday. “AI-related equities constitute no less than 40% of current equity market cap,” reports the latest Grant’s Interest Rate Observer, citing Bank of America strategists.  This year’s bubble in stocks means the Austrian Business Cycle Theory will be ignored again until it all comes tumbling down. This all starts with the highest order good, land. Bisnow.com tells us,

Nationally, sales of land earmarked for future data center development totaled roughly $3.3B in the first three months of 2026, up 141% from the same period in 2025, according to data provided to Bisnow by Avison Young. Roughly 30% of all spending on development sites in the first quarter went to data center land deals, up from about 19% in 2025.

Nationwide, the public has had it with data center development, making it hard to find large available tracts that can be zoned for data centers. Local politicians listen to the neighbors who vote and the entrepreneurial process is squelched by the Not-in-my-backyard gang. But, as CRG Chief Operating Officer Steve Schnur told Bisnow, “If you’re in a state that is a business-friendly state and you have access to power and you have a large piece of land, oh, my gosh, you’re sitting on a gold mine.” [continue reading…]

{ 0 comments }

Reginald Godwyn, “The Real Defeat of America,” Libertarian Alliance (UK) (8 June 2026)

The Real Defeat of America

The military defeat of the United States in the Iran War is only the beginning. Military defeats matter, of course. They destroy reputations. They expose incompetence. They reveal weaknesses that enemies had previously suspected but could not prove. Yet military defeats are often survivable. Great powers have lost wars before. Britain survived the American Revolution. Russia survived the Crimean War. France survived the humiliations of 1815 and 1870. The danger for the United States is that this defeat strikes at the foundations of the system that has sustained American predominance for half a century.

For thirty years, American politicians, generals, intelligence officials, journalists, and academic experts have repeated the same claim. The United States was not merely the strongest country in the world. It was the indispensable nation. It possessed an unmatched military. It controlled the world’s financial system. It maintained alliances on every continent. It could intervene almost anywhere and dictate outcomes. The Iran War has exposed this as fantasy. [continue reading…]

{ 0 comments }

Reprint from PFS member David Dürr.

Related

The Worst Form of Government Except for All the Others

David Dürr / October 31, 2024

Time and again I hear: You in Switzerland surely have the perfect political system. You are, after all, the country with the world’s best form of government. You have precisely that which the French Revolution had set out to achieve, namely a system in which the people are governed by laws that they themselves have made. Just recently, a journalist from Poland told me this again in an interview. With the political conditions in his own country, he did not seem all too happy, while Switzerland for him was something like a democratic paradise.

I then unfortunately had to disappoint him: Even from a purely statistical standpoint, direct popular votes in Switzerland do not amount to much. Of the currently existing roughly five thousand enactments at the federal level, far less than one percent have ever been submitted to the people for a decision. And when it is further taken into account that in each case no more than 15 to 20 percent of those subject to the law have agreed, then the true democracy rate sinks into the per mille range. [continue reading…]

{ 0 comments }
Play

Property and Freedom Podcast, Episode 329.

Rothbard at 100 final cover May 13 2026AI-assisted audio narration of the main chapters of Rothbard at 100: A Tribute and Assessment (Papinian Press and The Saif House, 2026) is available at this PFS Youtube Playlist; the mp3 files may also be downloaded in this zip file.

The first two chapters—my “Preface” and Hans’s “Introduction”—were published the week of Rothbard’s birthday here on the Property and Freedom Podcast (PFP315 and PFP314). The other main chapters will be released sequentially weekly on Mondays. The next in the queue:

14. David Dürr, “Encountering Rothbard: Property Rights as the Key to Anarchy

{ 0 comments }
Sean Gabb The Enemy Class and How to Destroy it 2001

From the vault: this classic, heroic piece by Sean Gabb of the Libertarian Alliance (UK): “The Enemy Class and how to Destroy It: A Manifesto for the Right (2001),” originally published at Political Notes 170, Free Life Commentary No. 47 (Jan. 22, 2001) (a hundred years exactly since the death of Queen Victoria) (pdf).

See also Hoppe, “Marxist and Austrian Class Analysis,” in The Economics and Ethics of Private Property. [continue reading…]

{ 0 comments }

Rothbard at 100: A Tribute and Assessment, Stephan Kinsella and Hans-Hermann Hoppe, eds. (Papinian Press and The Saif House, 2026) was first released online digitally on March 2, 2026. The hardcover will be presented at 100 Years with Rothbard: Porto, Portugal, later this month and is now available for pre-order:

Rothbard at 100: Hardcover – Preorder

$30

A hardcover Gedenkschrift commemorating the 100th birthday of Murray N. Rothbard (1926–1995), edited by Stephan Kinsella and Hans-Hermann Hoppe. Featuring personal reflections and substantive essays from an international array of Property and Freedom Society scholars — including Hoppe, Doug French, Tom DiLorenzo, Jeffrey Tucker, Jeff Deist, Lee Iglody, Jeff Barr, and an essay by Saifedean Ammous.

Ships early July 2026 worldwide.

Preorder now

Ships early July 2026 worldwide.

{ 0 comments }

Hans-Hermann Hoppe, “Debatte: Small is Beautiful,” Schweizer Monat (04.06.2026): “Der wirtschaftliche Erfolg Europas ist eng mit seiner politischen Zersplitterung verbunden. Der Wettbewerb zwischen Staaten begrenzte staatliche Eingriffe und begünstigte Innovation und Wachstum. Aktuelle Tendenzen bedrohen diesen Mechanismus zunehmend – auch in der Schweiz.” [Europe’s economic success is closely linked to its political fragmentation. Competition between states limited government intervention and promoted innovation and growth. Current trends are increasingly threatening this mechanism – including in Switzerland.] Original English submission below.

Related: David Dürr, On Switzerland: The Worst Form of Government Except for All the Others.

Small is Beautiful

The village fountain in the church square and the house “Zum Sternen” (17th century) in Thayngen. Image: Joachim Kohler Bremen/ Wikimedia Commons.

Staaten sind keine wirtschaftlichen Unternehmen. Im Unterschied zu diesen finanzieren sich Staaten nicht durch den Verkauf von Produkten und Dienstleistungen an freiwillig zahlende Kunden, sondern durch Zwangsabgaben: durch Androhung und Anwendung von Gewalt eingetriebene Steuern – sowie durch von ihnen buchstäblich aus dem Nichts geschaffenes Papiergeld. [continue reading…]

{ 1 comment }

Size Does Matter!

What do nation states and private companies have in common? Neither is immune to the real world constraints that govern goal-oriented human collaboration. Such endeavors require certain fundamental components: resources, knowledge, and consent. Efficiency of the organization toward achieving their ends scales with each of these. An abundance of one component may (temporarily) offset deficiencies in the others, but in the long run decline will ensue. That is, each is necessary, but not sufficient, for success.

There is truth in the maxim that “big companies suck.” Such behemoths are often more intractable to deal with than government entities (particularly in the realm of customer service when problems arise). Bureaucracy is not exclusively a creature of the state. The smaller the organization the less likely one is to encounter such rigid, brainless structures. But why should this be? How can a private (mostly) free market business devolve into this sort of structure while one’s local town council is often highly solicitous of citizen’s concerns? Size. Bureaucracy is a firm’s attempt to overcome the fracturing of knowledge with expanding size. Information is normalized into SOPs (standard operating procedure) which are then programmed into tabula rasa employees. Independent analysis or thought is actively discouraged or outright forbidden. Just pull the string in the doll’s back and you get the same result every time. The mistake is similar to the one that values legislated “law” over that of common law; the latter adjusts and adapts to each unique situation whereas the former does not, remaining rigid and inflexible. This rigidity renders the entity deploying it weaker in the long run. [continue reading…]

{ 0 comments }

From the vault. Food-for-thought Saturdays.

Professor Hoppe’s chapter, “From the Malthusian Trap to the Industrial Revolution: An Explanation of Social Evolution,” in both The Great Fiction, and in A Short History of Man: Progress and Decline, was initially presented in 2009 at the Property and Freedom Society. [continue reading…]

{ 0 comments }

Book Review: Tara Murtha, Bobbie Gentry’s Ode to Billie Joe (33 1/3). Bloomsbury Academic, 2014

[Originally posted at DouglasinVegas.com, 2023/6/3]

Ode to Billie Joe” is a haunting story tune that never leaves your head. My hand instinctively hits the volume button when Bobbie Gentry’s distinctive guitar opens the song.  Just what did Billy Joe and the singer throw off the Tallahatchie bridge? And why did Billy Joe McAllister jump?

But while the song is always just a click away, the singer/songwriter has vanished. “Where is Bobbie Gentry?” It’s as stirring a question as “Who is John Galt?” She is now 80 and has never seen or heard from. Someone said to me, “who cares, she’s just a one hit wonder?”  [continue reading…]

{ 0 comments }

From A Day in the Life of Alex in AnCapville (Jun 04, 2026) by PFS member Adam Haman.

Yesterday I wrote about statism and security, remarking on two incidents of horrific police abuse over in Europe that have gone viral online recently.

Some people remarked that my complaints smacked of utopianism. Sure, policing needs reform, but to eliminate the state itself and its monopoly on violence? Surely that would lead to “Mad Max” style chaos. Who wants that?

(sigh)

We’ve lived in statist society, educated by statist schools, for so long that we can’t even imagine ourselves free. So today, folks, I’m going to do just that: imagine what being free would look like. [continue reading…]

{ 0 comments }

Comment from a reader:

“That and Cost Plus contracting will help ensure the next generation of Boeing aircraft will bring us back to the pre-Wright ​brothers​ era.”

{ 0 comments }

[Cross-posted at StephanKinsella.com]

I attended LNC2026 a couple weeks ago; what a sh*tshow. I ran for re-election  for the Judicial Committee, on which I served the last 4 years; I was not re-elected. Good riddance. I’ll write up my experience with the LP over the last 4 years presently, but for now, a couple of commentaries, by PFS member Adam Haman, with Bob Murphy, and on the Tom Woods show.

Related

Jeremy Kauffman Controversy At The LP Convention | Hn 240

[continue reading…]

{ 0 comments }

[Cross-posted at HansHoppe.com]

Prof. Hoppe’s seminal A Theory of Socialism and Capitalism was previously translated into Spanish in 2013 as Una Teoría del Socialismo y el Capitalismo, translated and with a prologue by Juan Fernando Carpio (Editorial Innisree, 2013).1 A new edition is apparently now available: Hans-Hermann Hoppe, Socialismo y Capitalismo, Traducción de Juan Fernando Carpio (quien coordina la traducción), junto con Mariano Bas, Daniel Duarte, Dante Bayona y Gerardo Caprav. Coordinación editorial: Gilberto Ramírez. Prólogo de Jesús Huerta de Soto (Nueva Biblioteca de la Libertad 69. Madrid: Unión Editorial, 2026) (hardback; paperback).

Read more>>

  1. See Spanish Translation of A Theory of Socialism and Capitalism. []
{ 0 comments }

From HansHoppe.com:

Die Ökonomie und Ethik des Privateigentums: Studium der politischen Ökonomie und Philosophie, Zweite Ausgabe (2026), a translation of Hans-Hermann Hoppe, The Economics and Ethics of Private Property, Second Edition (Auburn, AL: Ludwig von Mises Institute, 2006) has been prepared. Text below and pdf here. Translated by Andreas Tank.

The paper version is now available for purchase here. According to the translator: “Anyone who orders from tredition (my print-on-demand provider) helps me generate significantly more revenue, also pays no shipping costs, and there it doesn’t go any faster or slower than anywhere else” [continue reading…]

{ 0 comments }

The Property and Freedom Society

Uncompromising Intellectual Radicalism

Skip to content ↓

Creative Commons License
Except where otherwise noted, the content on this site is licensed under a Creative Commons Attribution 4.0 International License.