Interventionism

Today, as always, the general citizenry needs to understand economic principles and to recognize economic fallacies.

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.

"It is vain, however, to call simply for clearer statutory definitions of monopolistic practice. For the vagueness of the law results from the impossibility of laying down a cogent definition of monopoly on the market."

That will give the FTC far greater power to block mergers than the statutory text or Supreme Court precedents permit.

"It's hard to be a contrarian. With the bubble in full bloom, the last thing you want to tell the boys at the club is that you have your money in cash or gold."

"There is a definite sense in which the government plays by a different rulebook, because the central bank waits in the wings to monetize its debts."

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.

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

France’s absolutism and strictly enforced mercantilism put it out of the running as a leading nation in industrial or economic growth, despit