Defending the Undefendable

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Professor Block's publication is among the most famous of the great defenses of victimless offences and controversial monetary practices, from profiteering and gouging to bribery and blackmail. However, under the surface, this publication is also a superb work of microeconomic theory that explains the workings of monetary forces in each day situations and affairs. Murray Rothbard explains why: "Defending the Undefendable functions the service of highlighting, in the fullest and starkest terms, the essential character of the beneficial services performed by everyone in the free market. By taking the most extreme instances and showing how the Smithian concepts work even in these cases, the book will far more to demonstrate the workability and morality of the free market than a dozen sober tomes on more reputable industries and activities. By testing and proving the extreme cases, he even more illustrates and vindicates the idea."F.A. Hayek decided, writing the author the following: "Looking through Defending the Undefendable made me feel that I was once again subjected to the shock therapy by which, more than fifty years ago, the late Ludwig von Mises converted me to a consistent free market position. Nonetheless I am once in a while initially incredulous and feel that 'this is going too far,' but usually find in the long run that you are right. Some could find it too strong a treatments, but it will still do them good even if they hate it. A real understanding of economics demands that you disabuses oneself of several dear prejudices and illusions. Popular fallacies in economics frequently go to town in unfounded prejudices against other occupations, and in displaying the falsity of the stereotypes you are doing a real service, although you will not make yourself popular with almost all."


Category: Free Enterprise

Details

Publisher

Ludwig von Mises Institute

Language

English

ISBN

DATE

2011-10

Author

Walter Block

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