The core of this book is a systematic treatment of the historical transition of the West from monarchy to democracy. Revisionist in nature, it describes how monarchy is a lesser evil than democracy, but finds fault with 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 preferences explains the process of civilization as a result of declining rates of time preference and the construction of capital structures, and explains how interactions between people can lower the rate of time preference by drawing parallels with the Ricardian Linkage Law. Focusing on this, the author interprets various historical phenomena such as the rise in crime rates, the degradation of moral standards and the rise of the superstate. By highlighting the shortcomings of both monarchy and democracy, the author shows why these systems are inferior to the natural order based on private property. Hoppe destroys classical liberalism's belief in the possibility of a limited state and calls for the unification of conservatism and libertarianism as natural allies with the same goals. This book complements the author's previous work by defending the ethics of private property and the natural order. This book will be of interest to students of history, political economy and political philosophy.