It is often claimed that inflation reduces the true burden of debt. This is true for existing debt, but those who advocate it as a remedy for government indebtedness fail to understand that it also increases the cost of the government’s future debt.
One of the standard criticisms of the free market point of view is that it treats individuals as isolated atoms who view other people only as means to the pursuit of their selfish ends.
Arguments over the gold standard are not merely technical disagreements. Rather, the gold standard often serves as a proxy for “sound money,” which was a central element in the classical liberal tradition of limiting government’s ability to wreak havoc on society.
Because each person's control over his own body and will are inalienable,no person can be held to any sort of slavery "contract" even if all parties once agreed on it.
A rising price of gold and silver in US dollars, euros, Chinese renminbi, Japanese yen, etc. means this: the higher the price of this precious metal, the lower the exchange value of official currencies.
With the help of our extraordinary supporters, the Mises Institute is the world's leading supporter of the ideas of liberty and the Austrian School of economics. Since 1982, it has been the essential training ground the world over. With the continuing and growing economic crisis, the ideas of liberty are gaining more attention than ever. The Austrian School in particular is undergoing a remarkable renaissance. Hear the words of some of our supporters to learn why they are seizing the moment to help the Institute flood the world with truth.
