Articles of Interest

Thanks to Mises, we now understand that the only way that socialists can solve the problem of resource allocation is by adopting capitalism.

Specialization and foreign trade are good things, even if one party to the transaction could produce everything better and cheaper than the other.

Chapter 4 from Literature & the Economics of Liberty: Spontaneous Order in Culture, edited by Paul A. Cantor and Stephen Cox.

One can't say of the present economic system—one can only describe the past. One cannot predict the future as a result of studying the past. Often economic historians teach history by the label of “economics.” Even though you know everything about the past, you know nothing about the future.

Among the great books of mankind are the immortal writings by the Greek philosopher Plato. The Republic and The Laws, written 2300 to 2400 years ago, dealt not only with philosophy, the theory of knowledge, epistemology, but also with social conditions. 

The word “science” is usually applied only to the natural sciences. There are fundamental differences between the natural sciences and the science of human action, sometimes called social science or history. Among these fundamental differences is the way in which knowledge is acquired.

Chapter "Selling the General Theory" in Murray Rothbard's Keynes, the Man.

It seems to be universal that elected officials are seduced by the fantasy thesis that election to public office endows the official with both power and wisdom.

In an atmosphere of free inquiry and of freedom of the individual to enjoy the fruits of his labor, science here flourished. Elsewhere in the world, it has suffered serious set-backs.

Excerpt from Ludwig von Mises Epistemological Problems of Economics, chap. 1