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	<title>Googliberty &#187; Philosophical Concepts</title>
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	<description>Magnify Liberty</description>
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		<title>Objectivism</title>
		<link>http://googliberty.com/objectivism</link>
		<comments>http://googliberty.com/objectivism#comments</comments>
		<pubDate>Fri, 23 Apr 2010 20:00:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Liberal / Libertarian Schools]]></category>
		<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Ayn Rand]]></category>

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		<description><![CDATA[Objectivism is the philosophy created by the Russian-American philosopher and novelist Ayn Rand (1905–1982). Objectivism holds that reality exists independent of consciousness; that individual persons are in direct contact with reality through sensory perception; that human beings can gain objective knowledge from perception through the process of concept formation and inductive and deductive logic; that the proper moral purpose of one&#8217;s life [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Objectivism</strong> is the philosophy created by the Russian-American philosopher and novelist <a title="Ayn Rand" href="http://liberty-finder.com/ayn-rand">Ayn Rand</a> (1905–1982). Objectivism holds that reality exists independent of consciousness; that individual persons are in direct contact with reality through sensory perception; that human beings can gain objective knowledge from perception through the process of concept formation and inductive and deductive logic; that the proper moral purpose of one&#8217;s life is the pursuit of one&#8217;s own happiness or rational self-interest; that the only social system consistent with this morality is full respect for individual rights, embodied in pure <a title="Laissez faire" href="http://liberty-finder.com/laissez-faire">laissez faire</a> capitalism; and that the role of art in human life is to transform man&#8217;s widest metaphysical ideas, by selective reproduction of reality, into a physical form—a work of art—that he can comprehend and to which he can respond emotionally.</p>
<p>Rand originally expressed her philosophical ideas in her novels <em><a title="The Fountainhead" href="http://eliberty-finder.com/the-fountainhead">The Fountainhead</a></em> and <em><a title="Atlas Shrugged" href="http://liberty-finder.com/atlas-shrugged">Atlas Shrugged</a></em>, and other works. She further elaborated on them in her magazines <em>The Objectivist Newsletter</em>, <em>The Objectivist</em>, and <em>The Ayn Rand Letter</em>, and in non-fiction books such as <em>Introduction to Objectivist Epistemology</em> and <em><a title="The Virtue of Selfishness" href="http://eliberty-finder.com/the-virtue-of-selfishness">The Virtue of Selfishness</a></em>. <span style="color: #888888;">(CC Wikipedia 04/23/2010)</span></p>
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		<title>Habeas corpus</title>
		<link>http://googliberty.com/habeas-corpus</link>
		<comments>http://googliberty.com/habeas-corpus#comments</comments>
		<pubDate>Sat, 27 Mar 2010 22:02:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Engand]]></category>

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		<description><![CDATA[Habeas corpus &#8216;Latin: “You (shall) have the body)” is a writ, or legal action, through which a person can seek relief from unlawful detention, or the relief of another person. The writ of habeas corpus protects persons from harming themselves, or from being harmed by the judicial system. Originally a feature of English law, the [...]]]></description>
			<content:encoded><![CDATA[<p><em><strong>Habeas corpus</strong></em> &#8216;<a title="Latin" href="http://en.wikipedia.org/wiki/Latin">Latin</a>: “You  (shall) have the body)” is a writ,  or legal action, through which a person can seek relief from unlawful detention, or the relief of another  person. The writ of <em>habeas corpus</em> protects persons from harming  themselves, or from being harmed by the judicial  system. Originally a feature of English law, the writ of <em>habeas corpus</em> has historically been an important  legal instrument safeguarding individual freedom against arbitrary  state action.</p>
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		<title>Classical Liberalism</title>
		<link>http://googliberty.com/classical-liberalism</link>
		<comments>http://googliberty.com/classical-liberalism#comments</comments>
		<pubDate>Sun, 28 Feb 2010 16:59:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Liberal / Libertarian Schools]]></category>
		<category><![CDATA[Philosophical Concepts]]></category>

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		<description><![CDATA[Classical liberalism is a political ideology that developed in the 19th century in England, Western Europe, and the Americas. It is committed to the ideal of limited government and liberty of individuals including freedom of religion, speech, press, and assembly, and free markets. Notable individuals who have contributed to classical liberalism include Jean-Baptiste Say, Thomas Malthus, and David Ricardo. There was a revival of interest in classical liberalism in the [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Classical liberalism</strong> is a political ideology that developed in the <a title="19th century" href="http://liberty-finder.com/tag/19th-century">19th century</a> in England, Western Europe, and the Americas. It is committed to the ideal of <a title="Limited government" href="http://liberty-finder.com/limited-government">limited government</a> and liberty of individuals including <a title="Freedom of religion" href="http://liberty-finder.com/freedom-of-religion">freedom of religion</a>, speech, press, and assembly, and <a title="Free markets" href="http://liberty-finder.com/free-market">free markets</a>. Notable individuals who have contributed to classical liberalism include <a title="Jean-Baptiste Say" href="http://liberty-finder.com/jean-baptiste-say">Jean-Baptiste Say</a>, <a title="Thomas Malthus" href="http://liberty-finder.com/thomas-malthus">Thomas Malthus</a>, and <a title="David Ricardo" href="http://liberty-finder.com/david-ricardo">David Ricardo</a>. There was a revival of interest in classical liberalism in the 20th century led by <a title="Friedrich Hayek" href="http://liberty-finder.com/friedrich-hayek">Friedrich Hayek</a>, <a title="Milton Friedman" href="http://liberty-finder.com/milton-friedman">Milton Friedman</a> and other economists.</p>
<p>The phrase <em>classical liberalism</em> is also sometimes used to refer to all forms of <a title="Liberalism" href="http://liberty-finder.com/liberalism">liberalism</a> before the <a title="20th century" href="http://liberty-finder.com/tag/20th-century">20th century</a>. And, after 1970, the phrase began to be used by <a title="Libertarians" href="http://liberty-finder.com/libertarian">libertarians</a> to describe their belief in the primacy of economic freedom and minimal government. It is sometimes difficult to tell which meaning is intended in a given source. <span style="color: #808080;">(CC Wikipedia &#8211; 02/28/2010)</span></p>
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		<title>Freedom</title>
		<link>http://googliberty.com/freedom</link>
		<comments>http://googliberty.com/freedom#comments</comments>
		<pubDate>Fri, 19 Feb 2010 08:42:47 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Philosophical Concepts]]></category>

		<guid isPermaLink="false">http://liberty-finder.com/?p=245</guid>
		<description><![CDATA[Freedom is the human value, or situation, to act according to one&#8217;s will without being held up by the power of others. (CC Wikipedia &#8211; 02/19/2010)]]></description>
			<content:encoded><![CDATA[<p><strong>Freedom </strong>is the human value, or situation, to act according to one&#8217;s will without being held up by the power of others. <span style="color: #888888;">(CC Wikipedia &#8211; 02/19/2010)</span></p>
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		<title>Civil liberties</title>
		<link>http://googliberty.com/civil-liberties</link>
		<comments>http://googliberty.com/civil-liberties#comments</comments>
		<pubDate>Fri, 19 Feb 2010 08:24:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Political Concepts]]></category>

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		<description><![CDATA[Civil liberties are rights and freedoms that protect an individual from the state. Civil liberties set limits on government so that its members cannot abuse their power and interfere unduly with the lives of private citizens. Common civil liberties include the rights of people, freedom of religion, and freedom of speech, and additionally, the right to due process, to a trial, to own property, and [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Civil liberties</strong> are rights and freedoms that protect an <a title="Individual" href="http://liberty-finder.com/individual">individual</a> from the state. Civil liberties set limits on government so that its members cannot abuse their power and interfere unduly with the lives of private citizens.</p>
<p>Common civil liberties include the rights of people, <a title="Freedom of religion" href="http://liberty-finder.com/freedom-of-religion">freedom of religion</a>, and <a title="Freedom of speech" href="http://liberty-finder.com/freedom-of-speech">freedom of speech</a>, and additionally, the right to due process, to a trial, to own <a title="Property" href="http://liberty-finder.com/property">property</a>, and toprivacy.</p>
<p>The formal concept of civil liberties dates back to the English legal charter the <a title="Magna Carta" href="http://liberty-finder.com/magna-carta">Magna Carta</a> 1215, which in turn was based on pre-existing documents namely the <a title="England" href="http://en.wikipedia.org/wiki/England">English</a><a title="Charter of Liberties" href="http://liberty-finder.com/charter-of-liberties">Charter of Liberties</a>, a landmark document in English legal history.</p>
<p>Many contemporary states have a <a title="Constitution" href="http://liberty-finder.com/constitution">constitution</a>, a <a title="Bill of rights" href="http://liberty-finder.com/bill-of-rights">bill of rights</a>, or similar constitutional documents that enumerate and seek to guarantee civil liberties. Other states have enacted similar laws through a variety of legal means, including signing and ratifying or otherwise giving effect to key conventions such as the European Convention on Human Rights and the International Covenant on Civil and Political Rights.</p>
<p>It might be said that the protection of civil liberties is a key responsibility of all citizens of <a title="Free states" href="http://liberty-finder.com/free-state">free states</a>, as distinct from authoritarian states.</p>
<p>The existence of some claimed civil liberties is a matter of dispute, as are the extent of most civil rights. Controversial examples include reproductive rights, civil marriage, and the right to keep and bear arms. Whether the existence of victimless crimes infringes upon civil liberties is a matter of dispute. Another matter of debate is the suspension or alteration of certain civil liberties in times of war or state of emergency, including whether and to what extent this should occur.</p>
<p>An individual who actively &#8220;supports or works for the protection or expansion of civil liberties&#8221; is called a civil libertarian. <span style="color: #888888;">(CC Wikipedia &#8211; 02/19/2010)</span></p>
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		<title>Anarcho-capitalism</title>
		<link>http://googliberty.com/anarcho-capitalism</link>
		<comments>http://googliberty.com/anarcho-capitalism#comments</comments>
		<pubDate>Sat, 19 Dec 2009 00:58:14 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Political Concepts]]></category>

		<guid isPermaLink="false">http://liberty-finder.com/?p=223</guid>
		<description><![CDATA[Anarcho-capitalism is an individualist anarchist political philosophy that advocates the elimination of the state and the elevation of the sovereign individual in a free market. In an anarcho-capitalist society, law enforcement, courts, and all other security services are provided by voluntarily-funded competitors such as private defense agencies rather than through compulsory taxation, and money is [...]]]></description>
			<content:encoded><![CDATA[<p>Anarcho-capitalism is an individualist anarchist political philosophy that advocates the elimination of the state and the elevation of the sovereign individual in a <a href="http://liberty-finder.com/free-market">free market</a>. In an anarcho-capitalist society, law enforcement, courts, and all other security services are provided by voluntarily-funded competitors such as private defense agencies rather than through compulsory taxation, and money is privately produced in an open market. Because personal and economic activities are regulated by the natural laws of the market through private law rather than through politics, victimless crimes, and crimes against the state are rendered moot.</p>
<p>Anarcho-capitalists argue for a society based in voluntary trade of private property (including money, consumer goods, land, and capital goods) and services in order to maximize individual liberty and prosperity, but also recognize charity and communal arrangements as part of the same voluntary ethic. Though anarcho-capitalists are known for asserting a right to private (individualized or joint non-public) property, some propose that non-state public/community property can also exist in an anarcho-capitalist society.For them, what is important is that it is acquired and transferred without help or hindrance from the compulsory state. Anarcho-capitalist libertarians believe that the only just, and/or most economically-beneficial, way to acquire property is through voluntary trade, gift, or labor-based original appropriation, rather than through aggression or fraud</p>
<p>Anarcho-capitalists see free-market <a href="http://liberty-finder.com/capitalism">capitalism</a> as the basis for a free and prosperous society. <a href="http://liberty-finder.com/murray-rothbard">Murray Rothbard</a> said that the difference between free-market capitalism and &#8220;state capitalism&#8221; is the difference between &#8220;peaceful, voluntary exchange&#8221; and a collusive partnership between business and government that uses coercion to subvert the free market. &#8220;Capitalism,&#8221; as anarcho-capitalists employ the term, is not to be confused with state monopoly capitalism, crony capitalism, corporatism, or contemporary mixed economies, wherein natural market incentives and disincentives are skewed by state intervention. So they reject the state, based on the belief that states are aggressive entities which steal property (through taxation and expropriation), initiate aggression, are a compulsory monopoly on the use of defensive and/or punitive force, use their coercive powers to benefit some businesses and individuals at the expense of others, create monopolies, restrict trade, and restrict personal freedoms via drug laws, compulsory education, conscription, laws on food and morality, and the like. The embrace of unfettered capitalism leads to considerable tension between anarcho-capitalists and many social anarchists who tend to distrust the market, and believe that free-market capitalism is inherently authoritarian.</p>
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		<title>Anarchism</title>
		<link>http://googliberty.com/anarchism</link>
		<comments>http://googliberty.com/anarchism#comments</comments>
		<pubDate>Sun, 06 Sep 2009 12:58:36 +0000</pubDate>
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				<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Political Concepts]]></category>

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		<description><![CDATA[Anarchism is a political philosophy encompassing theories and attitudes which consider the state, as compulsory government, to be unnecessary, harmful, and/or undesirable, and favors the absence of the state (anarchy). Specific anarchists may have additional criteria for what constitutes anarchism, and they often disagree with each other on what these criteria are. According to The [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Anarchism</strong> is a political philosophy encompassing theories and attitudes which consider the state, as compulsory government, to be unnecessary, harmful, and/or undesirable, and favors the absence of the state (anarchy). Specific anarchists may have additional criteria for what constitutes anarchism, and they often disagree with each other on what these criteria are. According to <em>The Oxford Companion to Philosophy</em>, &#8220;there is no single defining position that all anarchists hold, and those considered anarchists at best share a certain family resemblance.&#8221;</p>
<p>The term anarchism derives from the Greek ἀναρχος, anarchos, meaning &#8220;without rulers&#8221;, from the prefix ἀν- (an-, &#8220;without&#8221;) + ἄρχή (archê, &#8220;sovereignty, realm, magistracy&#8221;) + -ισμός (-ismos, from a stem -ιζειν, -izein). There are many types and traditions of anarchism, not all of which are mutually exclusive. Different versions of anarchism have been categorized as socialist anarchism and individualist anarchism or similar two-sides classifications. Anarchism is usually considered to be a radical left-wing ideology, and much of anarchist economics and anarchist legal philosophy reflect anti-statist interpretations of communism, collectivism, syndicalism or participatory economics; however, anarchism has always included an economic and legal individualist strain, with that strain supporting an anarchist <a title="Free market" href="http://liberty-finder.com/free-market">free-market</a> economy and <a title="Private propriety" href="http://liberty-finder.com/private-propriety">private property</a> (like old anarcho-individualism and voluntaryism, or today&#8217;s <a title="Anarcho-capitalism" href="http://liberty-finder.com/anarcho-capitalism">anarcho-capitalism</a>, agorism and others). Others, such as <a title="Panarchism" href="http://liberty-finder.com/panarchism">panarchists </a>and anarchists without adjectives, neither advocate nor object to any particular form of organization as long as it is not compulsory. Some anarchist schools of thought differ fundamentally, supporting anything from extreme individualism to complete collectivism. The central tendency of anarchism as a social movement have been represented by communist anarchism, with anarcho-individualism being primarily a philosophical/literary phenomenon. Some anarchists fundamentally oppose all forms of aggression, supporting self-defense or non-violence, while others have supported the use of some coercive measures, including violent revolution and terrorism, on the path to anarchy.</p>
<p>There is some ambiguity with the use of the terms &#8220;<a title="Libertarianism" href="http://liberty-finder.com/libertarianism">libertarianism</a>&#8221; and &#8220;libertarian&#8221; in writings about anarchism. Since the 1890s from France, the term &#8220;libertarianism&#8221; has often been used as a synonym for anarchism and was used almost exclusively in this sense until the 1950s in the United States; its use as a synonym is still common outside the U.S. Accordingly, &#8220;libertarian socialism&#8221; is sometimes used as a synonym for socialist anarchism, to delineate it from &#8220;individualist libertarianism&#8221; (individualist anarchism). On the other hand, some use &#8220;libertarianism&#8221; to refer to individualistic free-market philosophy only, referring to free-market anarchism as &#8220;libertarian anarchism.&#8221; <span style="color: #888888;">(CC Wikipedia &#8211; 09/06/2009)</span></p>
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		<title>Liberalism</title>
		<link>http://googliberty.com/liberalism</link>
		<comments>http://googliberty.com/liberalism#comments</comments>
		<pubDate>Sat, 05 Sep 2009 15:38:25 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economical Concepts]]></category>
		<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Political Concepts]]></category>

		<guid isPermaLink="false">http://liberty-finder.com/?p=153</guid>
		<description><![CDATA[(Modern) liberalism has its roots in the Age of Enlightenment and rejects many foundational assumptions that dominated most earlier theories of government, such as the Divine Right of Kings, hereditary status, established religion, and economic protectionism. John Locke is often credited with the philosophical foundations of modern liberalism. He wrote &#8220;no one ought to harm [...]]]></description>
			<content:encoded><![CDATA[<p>(Modern) liberalism has its roots in the Age of Enlightenment and rejects many foundational assumptions that dominated most earlier theories of government, such as the Divine Right of Kings, hereditary status, established religion, and economic protectionism. <a title="John Locke" href="http://liberty-finder.com/john-locke">John Locke</a> is often credited with the philosophical foundations of modern liberalism. He wrote &#8220;no one ought to harm another in his life, health, liberty, or possessions.&#8221; (<em>Two treatises of Government</em>)</p>
<p>In the <a title="17th century" href="http://liberty-finder.com/tag/17th-century">17th Century</a>, liberal ideas began to influence governments in Europe, in nations such as The Netherlands, Switzerland, <a title="England" href="http://liberty-finder.com/tag/England">England </a>and Poland, but they were strongly opposed, often by armed might, by those who favored absolute monarchy and established religion. In the <a title="18th century" href="http://liberty-finder.com/tag/18th-century">18th Century</a>, in America, the first modern liberal state was founded, without a monarch or a hereditary aristocracy. The <a title="American Declaration of Independence" href="http://liberty-finder.com/american-declaration-of-independence">American Declaration of Independence</a>, includes the words (which echo Locke) &#8220;all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness; that to insure these rights, governments are instituted among men, deriving their just powers from the consent of the governed.&#8221; (<a title="Thomas Jefferson" href="http://liberty-finder.com/thomas-jefferson">Thomas Jefferson</a>, <em>Declaration of Independence</em>, July 4, 1776)</p>
<p>Today, most nations accept the ideals of freedom. But Liberalism comes in many forms. According to James L. Richardson, in <em>Contending Liberalisms in World Politics: Ideology and Power</em>, there are three main divisions within liberalism. The first is elitism versus democracy. The second is economic; whether freedom is best served by a <a title="Free market" href="http://liberty-finder.com/free-market">free market</a> or by a regulated market. The third is the question of extending liberal principles to the disadvantaged. <span style="color: #888888;">(CC Wikipedia &#8211; 09/05/2009)</span></p>
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		<title>Libertarianism</title>
		<link>http://googliberty.com/libertarianism</link>
		<comments>http://googliberty.com/libertarianism#comments</comments>
		<pubDate>Sat, 05 Sep 2009 15:29:28 +0000</pubDate>
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				<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Political Concepts]]></category>

		<guid isPermaLink="false">http://liberty-finder.com/?p=149</guid>
		<description><![CDATA[Libertarianism is a term adopted by a broad spectrum of political philosophies which advocate the maximization of individual liberty and the minimization or even abolition of the state. Libertarians embrace viewpoints across that spectrum, ranging from pro-property to anti-property, from minarchist to openly anarchist. All forms of libertarianism support strong personal rights rights to life [...]]]></description>
			<content:encoded><![CDATA[<p>Libertarianism is a term adopted by a broad spectrum of political philosophies which advocate the maximization of individual liberty and the minimization or even abolition of the state. Libertarians embrace viewpoints across that spectrum, ranging from pro-property to anti-property, from <a title="Minarchism" href="http://liberty-finder.com/minarchism">minarchist </a>to openly <a title="Anarchism" href="http://liberty-finder.com/anarchism">anarchist</a>.</p>
<p>All forms of libertarianism support strong personal rights rights to life and liberty, but do not agree on the subject of property. The best known formulation of libertarianism supports <a title="Free market capitalism" href="http://liberty-finder.com/free-market">free market capitalism</a> by advocating a right to private property, including property in the means of production, minimal government regulation of that property, minimal taxation, and rejection of the welfare state, all within the context of the <a title="Rule of law" href="http://liberty-finder.com/rule-of-law">rule of law</a>. A number of countries worldwide have libertarian parties which run candidates for political office.</p>
<p>Libertarian socialists—the first political activists to adopt the term libertarian in the mid-19th century—are generally opposed to some level of private property and various forms of authority. While these libertarians may not believe that market transactions or private property deserve protection, they also are skeptical of centralized government intervention as a solution, and therefore support a system of decentralized, popularly governed, voluntary, cooperative associations to check or to replace state power. Left-libertarianism is concerned with material equality and &#8220;appropriation of unappropriated natural resources&#8221;. <span style="color: #888888;">(CC Wikipedia)</span></p>
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		<title>Catallaxy</title>
		<link>http://googliberty.com/catallaxy</link>
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		<pubDate>Fri, 28 Aug 2009 22:26:50 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Philosophical Concepts]]></category>
		<category><![CDATA[Austrian School]]></category>
		<category><![CDATA[Friedrich Hayek]]></category>
		<category><![CDATA[Ludwig von Mises]]></category>

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		<description><![CDATA[Catallaxy is influenced by Ludwig von Mises’s term Catallactics and was first used by the Austrian economist Friedrich Hayek. He was unhappy with the usage of the term Economy, feeling that the Greek root of the word, which could be translated as ‘household management’, implied that economic agents in a market economy possessed shared goals. [...]]]></description>
			<content:encoded><![CDATA[<div id="_mcePaste" style="overflow: hidden; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px;">Catallaxy is influenced by Ludwig von Mises’s term Catallactics and was first used by the Austrian economist Friedrich Hayek. He was unhappy with the usage of the term Economy, feeling that the Greek root of the word, which could be translated as ‘household management’, implied that economic agents in a market economy possessed shared goals. Economy is used by Aristotle as ‘the art of household management’[1] and part of the virtue of wisdom. Keeping in mind that the ‘household’ at Aristotle is used in a broader sense either for a private household or for the household of a state[2] and even if the household at the times of Aristotle could have been a large business unit containing family and thousands of slaves, it was lead towards shared goals which differs from what a market economy is about. Catallaxy as a ‘Science of Exchange’[3] describes according to Hayek,[4]</div>
<div id="_mcePaste" style="overflow: hidden; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px;">‘the order brought about by the mutual adjustment of many individual economies in a market’.</div>
<p>Catallaxy is influenced by <a title="Ludwig von Mises" href="http://liberty-finder.com/ludwig-von-mises">Ludwig von Mises</a>’s term Catallactics and was first used by the <a title="Austrian School" href="http://liberty-finder.com/austrian-school">Austrian</a> economist <a href="http://liberty-finder.com/friedrich-hayek">Friedrich Hayek</a>. He was unhappy with the usage of the term Economy, feeling that the Greek root of the word, which could be translated as ‘household management’, implied that economic agents in a market economy possessed shared goals. Economy is used by Aristotle as ‘the art of household management’ and part of the virtue of wisdom. Keeping in mind that the ‘household’ at Aristotle is used in a broader sense either for a private household or for the household of a state and even if the household at the times of Aristotle could have been a large business unit containing family and thousands of slaves, it was lead towards shared goals which differs from what a market economy is about. Catallaxy as a ‘Science of Exchange’ describes according to Hayek: &#8220;the order brought about by the mutual adjustment of many individual economies in a market&#8221;. <span style="color: #999999;">(CC Wikipedia)</span></p>
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