[From The Case for Legalizing Capitalism ] Socialists commonly cite the existence of the poor as a reason for socialism, and they claim that their concern for the poor shows compassion and morality. Since the topic of poverty is a key battleground in the war of socialism versus capitalism, it is relevant to examine what poverty is, how much of it
[From The Case for Legalizing Capitalism ] Having learned that the government acts in ways detrimental to its citizens economically, and by causing wars, we should ask exactly why we support our politicians, why we support most of our military operations, and why we support our very national identity. In short, we should ask ourselves why we are
“Citizens, in the end, are “helped” by having been given unemployment, higher prices, fewer savings, and an uncertain future.” The word “politician” usually comes with a negative connotation. It often brings to mind thieving, lying, corruption, and malfeasance. Nonetheless, most people seem to look to politicians to manage their world for them, to
The AMA Monopoly While most people believe that our healthcare industry is one comprised of free markets, it is anything but. The industry is completely distorted by government manipulation. [1] To start with, the American Medical Association (AMA) has had a government-granted monopoly on the healthcare system for over 100 years. It has
China is in the process of allowing its currency to rise. The reason for this is to address the worsening inflation rates in the country. Allowing the yuan to rise will indeed stop, or slow, inflation, but the way this fix works is not the way that is usually assumed. Neither will the effects of this policy be what most observers assume, i.e.,
“Voting wealth out of the pockets of those who have it is socialism.” [ The Case for Legalizing Capitalism ] Businesspeople, if they are successfully “greedy,” become rich by providing their fellow citizens (i.e., consumers) with things that make them better off. In other words, they have to earn it. But many who espouse that people don’t need
The Free Market 26, no. 5 (May 2008) Punditry is seriously exercised about the worldwide shortage of food, which is real enough, but not an act of nature or a result of market failure. Rather, it stems from the combined failures of government, and with results that are potentially catastrophic. Paul Krugman suggests that this has come about
The Free Market 28, no. 8 (August 2010) It is a common assumption in today’s world that capitalism is, at best, out of control and, at worst, outright evil. Everyone knows that it causes most of our financial, economic, and social problems, and that we need a referee—the government— to make sure that all is fair and that we innocent citizens are
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.