Other Schools of Thought

I submit that the naïfs who stubbornly refuse to examine the interplay of political and economic interest in government are tossing away an essential tool for analyzing the world in which we live.

The laws of economics are not suspended by bureaucrats' political interference, and prices do not respond to their dictates. Rather, economic chaos results. 

Rather than look to the state to transform flawed creatures into saints, we should strive to take human beings as they are and direct their energies into productive outlets rather than antisocial outlets.

Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.

In such proposals as let us raise farm prices, let us raise wage rates, let us lower profits, let us curtail the salaries of executives the "us" ultimately refers to the police.

Hayek relentlessly scrutinizes and exposes the weak and patchwork structure of Keynes's theoretical arguments and then dismantles it brick by brick, leaving nothing standing.

He is the man who wants alcoholic liquors for any honest purpose whatsoever, who would use his liberty without abusing it, who would occasion no public question, and trouble nobody at all.

The Left has long used literature as a way of pushing opposition to "the bourgeoisie"—or its modern variants such as "the patriarchy."  

The only permanent way to cure poverty is to increase the earning power and productivity of the poor.

We wrap up our look at Murray Rothbard's sprawling two volume An Austrian Perspective on the History of Economic Thought with Dr. Joe Salerno, Rothbard's friend and colleague.