Hoppe's introduction alone is worth the price of the book. And it is crucial to read the introduction before starting the book. He explains a priori knowledge ("propositions which assert something about reality and can be validated independent of the outcome of any future experience") in a simple, straightforward manner providing many examples. I stress this because although the Austrian Economists, which includes Hoppe, regularly mention a priori knowledge/theory - some of which is more commonly known as human nature - this is the first time I've seen it explained in such a clear and concise manner.
Hoppe also defines what a monopoly is and stresses that all governments are monopolies and must result in declining product quality at steadily increasing prices for any activity they are engaged in. And, of course, the reason monopolies always behave this way is explained by a priori theory.
Another significant point the author makes in the introduction is the inability of most historians to logically interpret, or choose between competing interpretations, the facts they so meticulously gather. As Hoppe states, "The principle advantage that the political economist and philosopher has over the mere historian (and the benefits to be gained from the study of political economy and philosophy by the historian) is his knowledge of pure - a priori - social theory, which enables him to avoid otherwise unavoidable errors in the interpretation of sequences of complex historical data and present a theoretically corrected or "reconstructed," and a decidedly critical or "revisionist" account of history".
Needless to say, a priori theory threads it way through the remainder of the book, which, by the way, is useful and enlightening itself. My favorite chapters were one, seven, eight, and ten.
Chapter one deals with time preference and how that determines whether society is moving in the direction of increasing civilization through savings and investment (low time preference) or its opposite, decivilization (high time preference). Hoppe shows how government is the biggest contributor to high time preference.
In chapters seven and eight the author discusses the merits and demerits of free or restricted immigration. Hoppe's arguments have encouraged me to rethink my position on this issue, which had been to support free and open immigration for all. He also discusses forced integration and free trade. His arguments favoring free trade are, in my view, simply unchallengeable.
Chapter ten deals with conservatism and libertarianism. Hoppe and Rothbard's descriptions of "modal" libertarians are right on the money. As a former member of the Libertarian Party and county chairman for several years, I could have written these descriptions myself!
In its entirety, I thought the book was excellent. Frankly, as an amateur economist and libertarian, it has to rank as one of the best book I've ever read.
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