The core of this book is a systematic treatment of the historic
transformation of the West from monarchy to democracy. Revisionist
in nature, it reaches the conclusion that monarchy is a lesser evil
than democracy, but outlines deficiencies in both. Its methodology
is axiomatic-deductive, allowing the writer to derive economic and
sociological theorems, and then apply them to interpret historical
events.
A compelling chapter on time preference describes the progress
of civilization as lowering time preferences as capital structure
is built, and explains how the interaction between people can lower
time all around, with interesting parallels to the Ricardian Law of
Association. By focusing on this transformation, the author is able
to interpret many historical phenomena, such as rising levels of
crime, degeneration of standards of conduct and morality, and the
growth of the mega-state. In underscoring the deficiencies of both
monarchy and democracy, the author demonstrates how these systems
are both inferior to a natural order based on private-property.
Hoppe deconstructs the classical liberal belief in the
possibility of limited government and calls for an alignment of
conservatism and libertarianism as natural allies with common
goals. He defends the proper role of the production of defense as
undertaken by insurance companies on a free market, and describes
the emergence of private law among competing insurers. Having
established a natural order as superior on utilitarian grounds, the
author goes on to assess the prospects for achieving a natural
order. Informed by his analysis of the deficiencies of social
democracy, and armed with the social theory of legitimation, he
forsees secession as the likely future of the US and Europe,
resulting in a multitude of region and city-states. This book
complements the author's previous work defending the ethics of
private property and natural order. Democracy--The God that Failed
will be of interest to scholars and students of history, political
economy, and political philosophy.
General
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