Fiscal Theory

Covers the problems of government intervention into pollution and natural resource use issues, emphasizing importance of private property and indiv

Austrian critique of mainstream analysis of monopoly, monopsony, and perfect competition; the logical contradictions of anti-trust law.

Combine loose money with flawed financial theories and the creation of byzantine financial products, and ultimately modern financial alchemy "has a distinctly statist and paternalist tone, and one which, taken to its logical conclusion, implies the establishment of nothing less than a world government with the power to redistribute most of our income at will," explain the authors.

"It's pointless to try to wade hip-deep into DeLong's calculations, because they are meaningless."

"By anticipating the future, speculators may bring about events earlier and reduce their potential harm."

"Congress and big oil companies colluded to reward risky behavior and lost their bet."

Money and wealth are distinct, and we should not assume that a fall in the stock indices necessarily means that "that money" has now been transferred someplace else.

Seeing the rise of effective new competition, the older artisans and manufacturers turned to the state apparatus to try to shackle the efficient up

The whole entrepreneurial class is in the position of a master builder whose task it is to erect a building out of a limited supply of building mat

A government which interferes with banking exposes itself to great danger of error, and such errors cost it popular confidence sooner than any others.