He earned his Ph.D. (Philosophy, 1974) and his Habilitation (Foundations of Sociology and Economics, 1981), both from the Goethe-Universität. He was a post-doctoral fellow at the University of Michigan, Ann Arbor from 1976 to 1978. In 1986, he moved from Germany to the United States, to study under Murray Rothbard. He remained a close associate until Rothbard’s death in January 1995. Hoppe was Professor of Economics at University of Nevada, Las Vegas until retirement in 2008.

He gave a series of speeches at conferences that were organized by Lew Rockwell, Burt Blumert, and Murray Rothbard for the purpose of creating what came to be known as paleo-libertarianism.

Hoppe is a Distinguished Fellow with the Ludwig von Mises Institute, and, until December, 2004, the editor of the Journal of Libertarian Studies. The author of several widely-discussed books and articles, he has put forth an “argumentation ethics” defense of libertarian rights, based in part on the discourse ethics theories of German philosophers Jürgen Habermas (Hoppe’s PhD advisor) and Karl-Otto Apel. In 2005, he founded the Property and Freedom Society. (CC Wikipedia 04/01/2010)

After receiving his doctoral degree, Boettke taught at several schools, including Oakland University, Manhattan College, and New York University. In 1998, he returned to George Mason University as a faculty member. In 2004, he was named a Hayek Fellow at the London School of Economics. He has also been a Faculty Fellow at the Charles University/Georgetown University American Institute for Political and Economic Studies in Prague and a Visiting Scholar at the Hoover Institution on War, Revolution and Peace at Stanford University. Boettke is Deputy Director of the James M. Buchanan Center for Political Economy at George Mason University where he is a professor of economics. He is also senior research fellow at the Mercatus Center. Until 2007, Boettke held the position of Director of Graduate Studies for the Ph.D. program in economics at George Mason. He is also editor-in-chief of the Review of Austrian Economics. He is also head coach of the boys Freshman basketball team at Robinson Secondary School in Fairfax, Virginia.

He lives in Fairfax, Virginia with his wife Rosemary and their two sons, Matthew and Stephen.  (CC Wikipedia 03/31/2010)

There is no consensus on the definition of capitalism, nor how it should be used as an analytical category. There are a variety of historical cases over which it is applied, varying in time, geography, politics and culture. Economists, political economists and historians have taken different perspectives on the analysis of capitalism. Scholars in the social sciences, including historians, economic sociologists, economists, anthropologists and philosophers have debated over how to define capitalism, however there is little controversy that private ownership of the means of production, creation of goods or services for profit in a market, and prices and wages are elements of capitalism.

Economists usually put emphasis on the market medievalism, degree of government does not have control over markets (laissez faire), and property rights, while most political economists emphasize private property, power relations, wage labor, and class. There is a general agreement that capitalism encourages economic growth. The extent to which different markets are “free”, as well as the rules determining what may and may not be private property, is a matter of politics and policy and many states have what are termed “mixed economies.”

Capitalism as a system developed incrementally from the 16th century in Europe, although capitalist-like organizations existed in the ancient world, and early aspects of merchant capitalism flourished during the Late Middle Ages. Capitalism became dominant in the Western world following the demise of feudalism. Capitalism gradually spread throughout Europe, and in the 19th and 20th centuries, it provided the main means of industrialization throughout much of the world. (CC Wikipedia – 02/28/2010)

Under a free trade policy, prices are a reflection of true supply and demand, and are the sole determinant of resource allocation. Free trade differs from other forms of trade policy where the allocation of goods and services amongst trading countries are determined by artificial prices that may or may not reflect the true nature of supply and demand. These artificial prices are the result of protectionist trade policies, whereby governments intervene in the market through price adjustments and supply restrictions. Such government interventions can increase as well as decrease the cost of goods and services to both consumers and producers.

Interventions include subsidies, taxes and tariffs, non-tariff barriers, such as regulatory legislation and quotas, and even inter-government managed trade agreements such as the North American Free Trade Agreement (NAFTA) and Central America Free Trade Agreement (CAFTA) (contrary to their formal titles) and any governmental market intervention resulting in artificial prices.

Most states conduct trade polices that are to a lesser or greater degree protectionist. One ubiquitous protectionist policy employed by states comes in the form of agricultural subsidies whereby countries attempt to protect their agricultural industries from outside competition by creating artificial low prices for their agricultural goods.

Free trade agreements are a key element of customs unions and free trade areas. The details and differences of these agreements are covered in their respective articles. (CC Wikipedia – 02/21/2010)

Murray Newton Rothbard (1926 – 1995) was an American intellectual, individualist anarchist, author, and economist of the Austrian School who helped define modern libertarianism and popularized a form of free-market anarchism he termed “anarcho-capitalism“. Rothbard wrote over twenty books.

Building on the Austrian School’s concept of spontaneous order in markets, support for a free market in money production and condemnation of central planning, Rothbard sought to minimize coercive government control of the economy. He considered the monopoly force of government the greatest danger to liberty and the long-term wellbeing of the populace, labeling the State as nothing but a “gang of thieves writ large” – the locus of the most immoral, grasping and unscrupulous individuals in any society.

Rothbard concluded that virtually all services provided by monopoly governments could be provided more efficiently by the private sector. He viewed many regulations and laws ostensibly promulgated for the “public interest” as self-interested power grabs by scheming government bureaucrats engaging in dangerously unfettered self-aggrandizement, as they were not subject to market disciplines which would quickly eliminate such parasitic inefficiencies if they were to occur in the competitive private sector.

Rothbard was equally condemning of state corporatism. He criticized many instances where business elites co-opted government’s monopoly power so as to influence laws and regulatory policy in a manner benefiting them at the expense of their competitive rivals.

He argued that taxation represents coercive theft on a grand scale, and “a compulsory monopoly of force” prohibiting the more efficient voluntary procurement of defense and judicial services from competing suppliers. He also considered central banking and fractional reserve banking under a monopoly fiat money system a form of state-sponsored, legalized financial fraud, antithetical to libertarian principles and ethics. Rothbard opposed military, political, and economic interventionism in the affairs of other nations.

Born on the British West Indian island of Nevis, Hamilton was educated in the Thirteen Colonies. During the American Revolutionary War, he joined the New York militia and was chosen artillery captain. Hamilton became senior aide-de-camp and confidant to General George Washington, and led three battalions at the Siege of Yorktown. He was elected to the Continental Congress, but resigned to practice law and to found the Bank of New York. He served in the New York Legislature, and was the only New Yorker who signed the Constitution. As Washington’s Treasury Secretary, he influenced formative government policy widely. An admirer of British political systems, Hamilton emphasized strong central government and implied powers, under which the new U.S. Congress funded the national debt, assumed state debts, created a national bank, and established an import tariff and whiskey tax.

By 1792, a Hamilton coalition and a Jefferson–Madison coalition had arisen (the formative Federalist and Democratic-Republican Parties), which differed strongly over Hamilton’s domestic fiscal goals and his foreign policy of extensive trade and friendly relations with Britain. Exposed in an affair with Maria Reynolds, Hamilton resigned from the Treasury in 1795 to return to Constitutional law and advocacy of strong federalism. In 1798, the Quasi-War with France led Hamilton to argue for, organize, and become de facto commander of a national army.

Hamilton’s opposition to fellow Federalist John Adams contributed to the success of Democratic-Republicans Thomas Jefferson and Aaron Burr in the uniquely deadlocked election of 1800. With his party’s defeat, Hamilton’s nationalist and industrializing ideas lost their former national prominence. In 1801, Hamilton founded the New York Post as the Federalist broadsheet New York Evening Post. His intense rivalry with Vice President Burr eventually resulted in a duel, in which Hamilton was mortally wounded, dying the following day. (CC Wikipedia – 09/06/2009)