Without a dynamic price mechanism — trademark of a money-based, capitalist society — there can be no calculation, and without calculation there can be no advanced division of labor. Our society would be no more advanced than it was during the age of barter.
The honor of being called the "father of modern economics" belongs not to its usual recipient, Adam Smith, but to a gallicized Irish merchant, banker, and adventurer who wrote the first treatise on economics more than four decades before the publication of the Wealth of Nations.
A remarkable combination of a brilliant and incisive mind, an unusually clear and lucid style, and an unfailingly cheerful, generous, and gentle soul, Henry Hazlitt continues to be a veritable fount of energy and productivity.
The number of inhabitants in a state depends on their means of subsistence. The means of subsistence depend on the method of cultivating the soil, and this method depends chiefly on the taste, desires, and manner of living of the property owners.
I hope that, in raising money for the Mises Institute by finishing the marathon, I will have enough inspiration to surmount the challenges I will face while running. My aim is to raise $1,000 for every mile that I run.
Part of the experience of reading Newsweek in the early 1960’s was a weekly column called "Business Tides." It offered wide-ranging and insightful commentary on just about anything that had anything to do with the economy or with economics.
Capital and interest theory, and its relation to income, is a very complex area of economics. It is also one in which the Austrians have made major contributions, and these unravel current confusions.
Mises (1881–1973) is one of the sleeping giants of the 20th century. For many decades he was the leader of the Austrian School of economic and social thought but he is scarcely a household name, even among economists and classical liberals.
