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aboutLiberty Portal
In his book, Smith fervently extolled the simple yet enlightened notion that individuals are fully capable of setting and regulating prices for their own goods and services. He argued passionately in favor of free trade, yet stood up for the little guy. The Wealth of Nationsprovided the first--and still the most eloquent--integrated description of the workings of a market economy.
The result of Smith’s efforts is a witty, highly readable work of genius filled with prescient theories that form the basis of a thriving capitalist system. This unabridged edition offers the modern reader a fresh look at a timeless and seminal work that revolutionized the way governments and individuals view the creation and dispersion of wealth--and that continues to influence our economy right up to the present day.
It is among the most famous of the great defenses of victimless crimes and controversial economic practices, from profiteering and gouging to bribery and blackmail. However, beneath the surface, this book is also an outstanding work of microeconomic theory that explains the workings of economic forces in everyday events and affairs.
Murray Rothbard explains why:
"Defending the Undefendable performs the service of highlighting, the fullest and starkest terms, the essential nature of the productive services performed by all people in the free market. By taking the most extreme examples and showing how the Smithian principles work even in these cases, the book does far more to demonstrate the workability and morality of the free market than a dozen sober tomes on more respectable industries and activities. By testing and proving the extreme cases, he all the more illustrates and vindicates the theory."
F.A. Hayek agreed, writing the author as follows: "Looking through Defending the Undefendable made me feel that I was once more exposed to the shock therapy by which, more than fifty years ago, the late Ludwig von Mises converted me to a consistent free market position. … Some may find it too strong a medicine, but it will still do them good even if they hate it. A real understanding of economics demands that one disabuses oneself of many dear prejudices and illusions. Popular fallacies in economic frequently express themselves in unfounded prejudices against other occupations, and showing the falsity of these stereotypes you are doing a real services, although you will not make yourself more popular with the majority."
Herewith the unchallenged epic of our era. A towering masterpiece of world literature, the searing record of four decades of terror and oppression, distilled into one abridged volume (authorized by the author).
Drawing on his own experiences before, during and after his eleven years of incarceration and exile, on evidence provided by more than 200 fellow prisoners, and on Soviet archives, Solzhenitsyn reveals with torrential narrative and dramatic power the entire apparatus of Soviet repression, the state within the state that once ruled all-powerfully with its creation by Lenin in 1918. Through truly Shakespearean portraits of its victims-this man, that woman, that child-we encounter the secret police operations, the labor camps and prisons, the uprooting or extermination of whole populations, the “welcome” that awaited Russian soldiers who had been German prisoners of war. Yet we also witness astounding moral courage, the incorruptibility with which the occasional individual or a few scattered groups, all defenseless, endured brutality and degradation. And Solzhenitsyn’s genius has transmuted this grisly indictment into a literary miracle.
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