Other Schools of Thought

To support his view that a market economy can effectively wage modern war, Mises advances a surprising claim about the early part of World War II.

The right path to healthcare reform is the market path (no subsidies, no monopolies such as drug patents, no licensure, no anything) that tends toward universal distribution at very low prices and relentless improvement in service. The wrong path is to make healthcare run the same way as the post office.

Only the Austrian School can explain how the central bank causes boom – bust cycles, and why "stimulus" deficit spending only makes things worse.

These advocates of a "mixed economy," well meaning and sincere though they may be, fail to realize that there can be no such thing as a "mixed economy" — part capitalistic and part socialist. Production is directed either by the market or by a National Production Authority.

"The state as an abstract entity took on bodily form and was revealed, in the world wars of the 20th century, to be an all-devouring monster."

The actual solution to the problem of runaway medical costs lies in the precise opposite of the direction chosen by the Clinton plan.

The United States Postal Service's incompetence has finally shrieked loud enough for our masters to take notice.

"Every assumption of State power, whether by gift or seizure, leaves society with so much less power."

When a city is bombed, it is destroyed by people with evil intentions. When a city is subjected to rent control, it is destroyed by people with good intentions.

Recorded at Mises University 2009.