Throughout the first half

Throughout the first half of the nineteenth century, the (Rothschild) brothers conducted important transactions on behalf of the governments of England, France, Prussia, Austria, Belgium, Spain, Naples, Portugal, Brazil, various German states and smaller countries. They were the personal bankers of many of the crowned heads of Europe. They made large investments, through agents, in … Read more

Give people pride and

Give people pride and they’ll live on bread and water, bless their exploiters, and even die for them. Self-surrender is a transaction of barter: we surrender our sense of human dignity, our judgement, or moral and aesthetic sense for pride. If there is pride in being free, we are ready to die for liberty. If … Read more

Our modern, rootless times

Our modern, rootless times do seem to be a particularly inhospitable environment for loyalty. We come and go so relentlessly that our friendships can’t but come and go too. What sort of loyalty is there in the age of Facebook, when friendship is a costless transaction, a business of flip reciprocity…. Friendship held together by … Read more

Not one idiot in

Not one idiot in a thousand has been entirely refractory to treatment, not one in a hundred has not been made more happy and healthy; more than thirty per cent have been taught to conform to social and moral law, and rendered capable of order, of good feeling, and of working like the third of … Read more

Economic transactions between national

Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no superior law, and whose representatives cannot be bound by any considerations but the immediate interest of their respective nations, must end in clashes of power. Friedrich August von Hayek