Philosophy and Methodology

If the dictator invests more and thus curtails the means available for current consumption, the people must eat less and hold their tongues.

Anyone who champions the well-being of society should especially celebrate commercial centers, stock markets, international trade, and every sector

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

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

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

"Keynes argues as if the government — or rather, 'forces outside the classical scheme of thought' — could control the volume without affecting any other aspect of the market economy. What sort of powers would government have to wield to be able to exert such a force?"

The drop in interest rates makes unrealizable projects appear profitable and realizable. Entrepreneurs embark upon the execution of such projects.

If you behave as a sovereign individual in your personal relationships, you will be contributing to your happiness and also to the transmission of the concept of individual sovereignty. That chain of good, I am certain, will abolish the chains of evil.

The abstraction called the "ecosystem" — which never seems to include mankind or civilization — has done far less for us than the oil industry, and the factories, planes, trains, and automobiles it fuels.

"The essence of 'immediate convertibility' is the difference between what Austrians call a claim transaction or warehouse receipt, like a demand deposit, and a credit transaction, like a time deposit."