CJay Engel

Creator and Editor of Austro Libertarian. Lives in Northern CA, runs several businesses, spends time with his family, and reads as much economics and political theory as possible.

Reisman: “Social democrats should stop calling themselves socialists.”

George Reisman is out with a new ebook, a long essay– which most of his ebooks are essentially– on Marxism/socialism. While Reisman isn’t a Misesian purist, especially in the Rothbardian tradition of Mises interpretation, I nevertheless think he is an immensely important contributor in the greater Austrian economic framework. He echoes something I have been communicating …

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Socialist Propaganda and The Plight of Underdeveloped Nations

Mises’ article on “The Plight of Underdeveloped Nations” makes an insightful observation regarding the sad impact of western socialist propaganda on underdeveloped nations— especially during the mid-twentieth century increases of worldwide awareness and globalization. As he points out, the very possibility of “foreign investment” originated when the capitalists of wealthier nations saw profit opportunities in …

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Economic Analysis and the Limits of Empirical Data and Model Driven Conclusions

We live in the age of the anti-apriori; a complete rejection of any theory which exists independent of “the data.” This refusal to embrace or even consider the importance of theory advertises itself as a commitment to “evidence,” “hard-facts,” and independence from ideologies and biased interpretations. Any attempt to challenge the usefulness of “facts” independent …

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Bohm-Bawerk Against Marxian Exploitation Theory

As Mises predicted, government interventionism has wrought economic pain for the very people groups it was intended to benefit. This economic pain has, also predictably, resulted in a growing voice amongst an agitated public against capitalism, or at least what they perceive it to be. In its stead, many of the themes and narratives of …

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The Aleatory Contract: A Definitional Comment on Fractional Reserve Banking

This post is intended to be a quick note, and in no way a complete investigation into the matter. As I have elaborated in extensive detail in the past, modern defenders of fractional reserve banking (who go by the phrase “free bankers”) are, whether they know it or not, defending something referred to as an …

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UBI and Other Wealth Transfer Schemes

When it comes to Universal Basic Income and other attempts to use government as a medium of wealth transfers, most opponents simply focus on the classical “incentive problem” (that is, if you subsidize non-productivity, you will keep it in existence). However, besides the incentive problem, which is of course a legitimate concern, the much more serious …

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Anarchism, Minarchism, and the Libertarian Label

This article comes directly from a certain line of reasoning that I see all throughout the libertarian world. I hope that the following article will prove to be a one stop solution and will encourage more nuance in the anarchist/minarchist dichotomy. Let me start here with an overview of the dichotomy as I conceive it. I find that …

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Marxism, Reformism, and Interventionism

One of the points that I made in my previous article on socialism is that the Orthodox Marxists define socialism as the situation in which there is public (community) ownership of the means of production. Since historically labelled socialist regimes (Stalin, Venezuela) do not match this definition and because the means of production were controlled …

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Liberalism Round Two: Bionic Mosquito Edition

UPDATE: BM replied to this and I replied to his reply. ______________________________________ Bionic Mosquito offered interaction with my previous post on liberalism this morning. This was good. It gives me a chance to elaborate, to clarify. What other mosquito do you know of that opens up such tremendous opportunity? I share with my Bionic friend a …

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Liberalism and Loneliness?

The weekend opinion section of the Washington Post published a short piece reflecting on Patrick Deneen’s book “Why Liberalism Failed.” Titled “Liberalism is Loneliness,” the article offers an opportunity to interact with the same complaints against classical liberalism that have arisen since the early days of its existence. Authored by Christine Emba, the article suggests …

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The Unique Importance of the Tory Anarchist

If ever there was a phrase that deserved more widespread repute in libertarian circles, it is the charming title “Tory Anarchist,” which Murray Rothbard— though not the first to apply it— gave to the likes of H.L. Mencken and Albert Nock in his book The Betrayal of the American Right. What he meant by this phrase, together with a case for its adoption today, are the themes of the present article.