"Those who anxiously await next month's government check prefer not to deal with the question of how goods and services are produced and under what political circumstances they are most efficiently provided."
More government cannot possibly offer the solution to the problems we face. Big government is the cause; freedom is the answer.
The F. A. Hayek Memorial Lecture. From the 2008 Austrian Scholars Conference at the Mises Institute; Auburn, Alabama.
The discussion on pages 635–636 explains the "tragedy of the commons," in which people overutilize a resource (such as a buffalo herd or pasture) because of weakly defined or enforced property rights.
An overview of Austrian Economics presented at West Georgia College on 27 March 2008. Includes a Question and Answer period.
The fundamental act of choice always involves a purely ordinal value judgment, not a quantitative "measurement" of subjective value.
Because of the current economic and political climate, it is important to understand what we can do — and what we cannot hope to do in the short run.
