Entrepreneurship

Socialists once argued that socialism would best capitalism in terms of wealth creation. Now they don't say capitalism leads us to poverty but to too much wealth.

Modern portfolio theory, while popular with many economists, runs into serious problems when examined through the lens of Austrian economics

Modern economics claims that quantitative methods are central to understanding economic analysis. Mises demonstrated why this belief is untrue.

Massive "fiscal stimulus" programs by European governments failed to reduce unemployment. The latest buzzword from the Continent is the "entrepreneurial state," based upon the delusion that government spending and regulation are responsible for wealth creation by private entrepreneurs.

For Hayek, "coercion" of course includes the aggressive use of physical violence, but the term unfortunately also includes peaceful and nonaggressive actions as well.

Trade is nothing but the release of what one has in abundance to obtain some other thing one wants.

A person cannot do right except in a situation where there is also the option of doing wrong.

It is striking to realize that dikes were not only built without the state, but also that the dike areas can be regarded as seceding territories, which came close to private-law societies.

Crusoe economics can aid greatly in solving such problems of political philosophy as the nature and role of liberty, property, and violence.

He is the man who wants alcoholic liquors for any honest purpose whatsoever, who would use his liberty without abusing it, who would occasion no public question, and trouble nobody at all.