Calculation and Knowledge

Americans typically are told that private enterprise wastes resources while government preserves them. Economic truths turn that canard upside down.

Governments, billionaire elites, and NGOs have a "wonderful" plan for the rest of us called the Great Reset. They need to read Mises to know their plans are madness.

Economic calculation requires a monetary system that is not sabotaged by government interference.

Praxeology and economics have a definite place in the evolution of human history and in the process of scientific research.

In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.

A socialist management would be like a man forced to spend his life blindfolded.

Bob has Steve Patterson back on the show, to concede that Steve’s skepticism of higher mathematics was right all along.

Left-wing intellectuals such as Polanyi are always weeping about the "Coca-Colaization" of the rest of the world, bemoaning the supposedly lost glories of "folk culture" in the undeveloped countries, writes Rothbard.

Trade-offs are made necessary by scarcity. Individuals must choose between the alternatives forced upon them by reality. A refusal to acknowledge this leads to big problems.  

Demonstrated preference has everything to do with the choices an economic actor faces in a given moment, not all the conceivable options.