Laws are a system of rules that govern behavior. Typically laws are written, followed, and enforced as a social contract between members of society.


All Action is Human Action Fact

As Mises said, “all action is human action”. In other words, although we form groups that can indirectly act through consensus, groups themselves aren’t physical entities (and thus they can’t act directly).

Eugenics Has Historically Been a Popular Theory Fact

Eugenics (including positive eugenics which breeds traits, and negative eugenics which prevents breeding) has been practiced since the Greeks, but rose to popularity in the west starting in the late 1800’s.

Separation of Powers Metaphor

The four “elements” (or “powers”) that form the foundation of government can roughly be expressed as: citizens, executive, legislative, and judicial.

Where Does the State of Nature Argument Come From?

We often attribute the origin of the state of nature argument to Hobbes, but it can be traced to thinkers like Plato, Aristotle, and the Sophists in the 300s BC, and is then mused on by other early philosophers.

The Birth of Modern Banking

Modern banking originated in Italy around 1150 as Jews fleeing persecution brought new practices, including “discounting”, to the merchant banks of the Italian piazzas.

The 2007 – 2009 Financial Crisis Explained

We explain the Financial Crisis / Great Recession of 2007 – 2009 that began with the 2006 housing bubble, led to a recession in the U.S. by December 2007, and became a global crisis by 2009.

What is the State of Nature?

The state of nature is the state humans lived in before forming the first societies. By examining the state of nature we can better understand the implicit and explicit social contracts which govern societies.