The Distinction between Theory and History
The economist who knows no history understands far less than his opposite number in the historical profession; but his claims are far greater. Therefore, he is much wider off the mark.
Philosophy and Methodology
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Preface to Theory and History
Preface to Theory and History by Ludwig von Mises.
Narrated by John Pruden.
Money vs. Wealth
Money and wealth are distinct, and we should not assume that a fall in the stock indices necessarily means that "that money" has now been transferred someplace else.
The Market Economy as Affected by the Recurrence of the Trade Cycle
People rebel against the insight that the malinvestment and overconsumption of the boom period are the cause of the bust.
Defending the Speculator
The truth of the matter is that, far from causing starvation and famines, it is the speculator who prevents them.
Milton Friedman and the Human Good
To put it differently, morally significant action has to be freely chosen, not mere proper behavior.
