1. Monarchy and Democracy

Main points on Monarchy vs Democracy: 1. Time preference 2. Security of property 3. War 4. Democracy has perverse selection 5. Democracy legitimates government 6. Kings don't owe anybody anything 7. Rise of civilizations under monarchy Relevant quote from Hoppe: "Traditional monarchies only resemble dictatorships superficially. Instead, dictatorships are a regular outgrowth of mass democracy. Lenin, Stalin, Hitler, and Mao were distinctly democratic rulers as compared to the former Emperors...