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 | | Richard Whately, in his first lecture on political economy declares that political economy is a misleading name because, “according to its etymology, it almost implies a contradiction…. |
 | | Richard Whately, as the Austrians are, is a proponent of private property, “But in order to the existence of such a state of things, it is necessary that property should be recognized, and should be tolerably well secured.” |
 | | Whately is also very Misien due to the importance he places on private property and the incentives brought about by owning property; spontaneous order, the caretaker of society, is dependent on private property to Richard Whately and most Austrian Economists. |
| mason.gmu.edu /~twhiston/Whately.html (2495 words) |
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