History of the Austrian School of Economics

It might be May Day in Cuba--the day on which Castro gives his traditional 4–5 hour speech, or so says NPR with exuberant expectation—but at the Mi

The 'ability-to-pay' principle resembles more the highwayman's principle of taking where the taking is good.

Saving in the interest of infinitely postponed consumption is not saving at all — it is pure loss.

Economic problems arise only when it is a question of adjusting the available means to any new situation.

It says something good about the American people that they insist on acting as if we lived in a free country in which we really shouldn't have to bother with politics

When Mises was 81 years old, he was invited to address a student rally at Madison Square Garden that was sponsored by the Young Americans for Freed

In a letter to Mill, dated July 27, 1820, Ricardo refers to the doctrine that a general overproduction is impossible and that capital can never increase too rapidly, as "Say's and your doctrine of accumulation."

A wholly voluntary economy results in the greatest general welfare to all the persons of that society.

And they had all decided, left, right, and center, that there was not a thing economically wrong with socialism: that socialism's only problems, such as they might be, were political. Economically, socialism could work just as well as capitalism.

The fundamental dogma of all brands of socialism and communism is that the market economy or capitalism is a system that hurts the vital interests of the immense majority of people for the sole benefit of a small minority of rugged individualists.