Political Theory

Recorded at Mises University 2010. Includes an introduction by Mark Thornton. 

"The sole difference between a gossip and a blackmailer is that the blackmailer will refrain from speaking — for a price."

The ensuing debasement of the currency is the economically devastating outcome of central banks' unlimited power to suppress the interest rate. This, in turn, is the result of the government taking full control over money production.

Recorded at Mises University 2010. Includes an introduction by Mark Thornton. 

"Even mainstream economists recognize the role that price discrimination can play in allowing producers and consumers to exploit potential gains from trade."

The rebels’ overriding grievance was against the tax farmers and tax officials: “It is they who have forced [the peasants] to take up a

Setting your entire production structure on the whims and fancies of bureaucrats and politicians, based upon central-planning diktat quickly leads to economic chaos.

If laws or business customs force the employer to make other expenditures besides the wages he pays to the employee, the take-home wages are reduced accordingly. Such accessory expenditures do not affect the gross rate of wages.

Naturally, given Mises's emphasis on the centrality of the division of labor to the maintenance and progress of civilization, he is particularly outspoken regarding the evils of aggressive war, which on top of its physical and human toll brings about the progressive impoverishment of mankind by its radical disruption of a harmonious structure of production that spans the entire globe.

According to Louis XIV, a king is superhuman, a man who is above all and sees all and is the only one working for the “public” good, wh