The supply of labor is limited. We must not allow government to create jobs or we lose the goods and services which otherwise would have come into being. We must reserve precious labor for the important tasks still left undone.
If a regulated airline system did not "work," and a deregulated system seemed for a time to work well, what happens when the winds of data happen to blow the other way? In recent months, crowding, delays, a few dramatic accidents, and a spate of bankruptcies and mergers among the airlines have given heart to the statists and vested interests who were never reconciled to deregulation. And so the hue and cry for re-regulation of airlines has spread like wildfire.
Winter is here, and for the last few years this seasonal event has meant the sudden discovery of a brand-new category of the pitiable: the "homeless."
It is well-known that bureaucracies, especially governmental bureaucracies, have an unparalleled ability to suffocate innovation. Perhaps not as well known is the ability of those same institutions to ignore systematically well-documented, empirically supportable precepts about how the world really works.
Free-market capitalism is a marvelous antidote for racism. In a free market, employers who refuse to hire productive black workers are hurting their own profits and the competitive position of their own company.
Europe's economic decline is the result of its propensity to nationalize private enterprises.
Ever since its founding in October 1982, the Ludwig von Mises Institute has received many requests for introductory courses in Austrian economics for students and adults.
Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an analysis of what is wrong with them.
Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an analysis of what is wrong with them.
Private enterprise systems improve human cooperation and further peace and prosperity. Economic systems with which governments intervene are called liberal, or middle of the road economics. They declare they are not socialist. They say they wish to preserve market systems. But, is that possible? No. Nothing will be left of the free market. Capitalism and socialism cannot coexist. Step by step, interventionism erodes capitalism into some form of socialism. The clear distinction between production and government must be reestablished and left untouched.
