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ANTONY P. MUELLER - Beyond the State and Politics: Capitalism for the New Millennium

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ANTONY P. MUELLER Beyond the State and Politics: Capitalism for the New Millennium
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New revised and expanded edition July 2018. Fully colored. The policy agenda of the modern democracy asserts that government could prevent and cure unemployment, economic crises, recessions, depressions, inflation, deflation, and inequality and that the state could provide education, healthcare, and social security for all. The promises of rising incomes and employment dominate the political campaigns. Yet politics has never attained these assertions. In the time to come, the system of party politics will even less so fulfill its claims. This book shows why the traditional policies have not worked and why they will even less so function in the future. As the author explains, the answer is not more of the old, but that we must eliminate politics and the state. We must do away with the conventional economic and social policies. Not more welfare state and government intervention are the answer but less state and more free capitalism. The new technologies contain the solution of the problems they present. While technological progress destroys occupations, innovations make the economy more productive. Not growth and jobs are the key to the future but higher productivity. The new technologies will make the present political apparatus obsolete. When the functions of government are privatized, the financial burden of taxes and contributions falls from the shoulders of the population. Productivity rises and the cost-of-living falls. The urgency of having a permanent position recedes. Minimizing and doing away with the state is a necessity - not only because of the material well-being but also because the modern technology would put terrific instruments of control into the hands of the government. With the new devices of supervision and domination, a modern totalitarian state would supersede the horrors of the past terror regimes.

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BEYOND

THE STATE AND POLITICS

Capitalism for the new millennium

Antony P. Mueller

BEYOND THE STATE AND POLITICS. CAPITALISM FOR THE NEW MILLENNIUM

Copyright 2018 by Antony P. Mueller. All Rights Reserved.

ISBN: 1722955511

13:978-1722955519


All rights reserved. No part of this book may be reproduced in any form or by any electronic or mechanical means including information storage and retrieval systems, without permission in writing from the author. The only exception is by a reviewer and by academics, who may quote short excerpts in a review.
Printed in the United States of America
based on Beyond the State and Politics. Capitalism for the New Millennium

First Printing: April 2018
Amazon KDP

New edition July 2018

ISBN-9781980571445

CONTENTS

The Problem

Foreword

Introduction

Chapter I

Beyond the state and politics

Economy and society - State capitalism - Backgrounder: the origins of modern state capitalism Institutional change Democracy and capitalism Projects of transformation At the crossroads Outlook

Chapter II

Capitalism

Capitalism in perspective - Backgrounder: Capital - Development stages of capitalism - Capitalism and the state Backgrounder: Building blocks of modern capitalism - What are capitalists good for? The stock market without puzzles Backgrounder: US stock market - Commerce Monetary economy Equality is not justice Origins of Western capitalism Market process and competition Backgrounder: Utility, value, and price Prices and competition Mass production Freedom and capitalism Summary

Chapter III

Wealth creation

The meaning of economic growth Growth traps - Backgrounder: The rise and fall of parasitic economies - Economics of wealth creation - Backgrounder: time preference - Backgrounder: Interest, consumption, and savings - Value creation and capital structure - The state as an enemy of growth - Creative destruction - Obstacles to innovation - Free trade - Summary

Chapter IV

Socialism

A deadly utopia - Command economy - Backgrounder: Friedrich Hayek on central planning and totalitarianism - Economic calculation - Planned chaos - Marxist errors Backgrounder: Marx theory of the collapse of capitalism A dream becomes a nightmare Systemic Misery - Summary

Chapter V

Interventionism

Fascist roots of interventionism - Origins of modern state capitalism Rational irrationality - Legacy of interventionism - Backgrounder: Effects of price interventionism - Interventionism and the market process - Employment Power and economic law Welfare: more costs than benefits Healthcare costs Cost explosion in education - Social policy Backgrounder: origins of social policy - Missing standards The chimera of social justice Backgrounder: concepts of justice - Perpetual financial crisis Backgrounder: the economics of the public debt - Backgrounder: where does the money comes from? - Capital, savings, and entrepreneurship - Summary

Chapter VI

Economic stabilization

The myth of crisis capitalism Backgrounder: Stagflation - Backgrounder: Says Law - Monetary policy - How small crises become big crises A menu of models Backgrounder: Survey of business cycle models No crisis without a preceding boom - What happened in the Great Depression? - Lessons yet to learn - Backgrounder: Misery Index - Backgrounder: the economics of inflation and deflation The sorrows of central banking Inflation-targeting Bailouts and stimuli The pitfalls of policy-making The value of money - End the Fed The crisis of 2008 - Summary

Chapter VII

Anarcho-capitalism

The State and its minions - Voluntary servitude - The age of the individual - What is anarchism? - Concepts - Is Anarcho-capitalism possible? - The struggle for liberty - Death of the gatekeepers - Toward the new world of freedom- Sortition(demarchy) -Agenda -Outlook

Appendix

Anarcho-individualist order - basic concepts

Main types of government failures

Ten fundamental indictments against the State

Principles of economic governance

Principles of anarcho-capitalism

Principles of anarchist individualism

Bibliographical References

Annotated bibliography of anarcho-capitalism (by Hans-Hermann Hoppe)

About the author

BEYOND THE STATE AND POLITICS

LIST OF TABLES AND FIGURES

  1. BEYOND THE STATE

Principles of anarcho-capitalism

The position of libertarianism in the political spectrum

Main steps to an anarcho-capitalist order

  1. CAPITALISM

Stages of modern capitalism

Types of capitalism

Structural elements of capitalism

Main forces of economic progress

Barter

Monetary exchange

Foundational factors Preference ranking

Determinants of value

Chain of value determination

Chain of determinants of remuneration of modern capitalism

Market process

Cost spiral

Determinants of price

Competitive process

Features of modern capitalism

  1. WEALTH CREATION

Savings components

Poverty trap

Determinants of the market interest rate

Cycle of welfare spending and economic stagnation

Main barriers to innovation

Return Matrix of Venture Capital Projects

Dimensions of economic knowledge

Geographical market dimensions

Effects of free trade

  1. SOCIALISM

State Murders by Socialist Regimes 1917-1979

Democides by the Soviet regime

Organizational structure of the centrally planned economy

Command and information chain of a centrally planned economy

Arrow of production

Arrow of valuation

Design defects of socialism

  1. INTERVENTIONISM

Characteristics of market knowledge

Lags of policy measures

Types of government intervention

Classical unemployment model

Healthcare spending and life expectancy

Selected consumer goods and wages compared to general price level, 1997-2017

Selectivity of institution and income by study area

Government spending in percent of gross domestic product since 1880

Concepts of justice

Coefficients of public debt

Determinants of the debt coefficient

Central bank balance

Commercial bank balance sheet

Main monetary aggregates

  1. ECONOMIC STABILIZATION

U.S. economic growth since 1870

Deflationary and inflationary gap in Keynesian perspective

Stagflation

Structural deficiencies of the Keynesian economic model

Price-wage-price spiral

Keynesian, monetarist, and neoclassical sequences

Structural defects of monetarism

Velocity of central bank money, 1928-2016

Idealized public debt cycle

Ratchet effect of public deficits and debt

Typology of business cycle models

The Marxist model

Keynesianism

Post-Keynesianism

New Keynesians

Schumpeters business cycle model

Real Business Cycle Theory

Neo-classical crisis model

Monetarism

Austrian Business Cycle Theory

Capital-based business cycle

Bad policy cycles

New Deal Policies

International Financial Obligations after WWI

International Financial System under Dawes and Young Plan

Kindleberger spiral

Contraction of world trade, 1929-1933

The German economy - economic growth and inflation, 1926-1939

Dimension of the Great Depression

United States. Great Depression Data 1929-1940

Rothbards Dos and Donts in a depression

Components of the misery index

Purchasing Power of the U.S.-dollar, 1913-2017

Global money creation by central banks, 2008-2017

United States. Labor and capital productivity, 1899-1937

Main objectives of macroeconomic policy

Main instruments of macroeconomic policy

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