The Free Market

It is not co-ownership per se that causes moral hazards. They are caused by the uninvited and unwanted co-ownership that springs from interventionism.

In 1918, the Soviet Union became the first country to promise universal “cradle-to-grave” healthcare coverage, to be accomplished through the complete socialization of medicine. The disastrous results speak for themselves.

That deflation is always and everywhere a bad thing is now an almost universal article of faith among mainstream economists and financial commentators.

While Menger shared his contemporaries’ preference for abstract reasoning, he was primarily interested in explaining the real-world actions of real people.

The markets are not a struggle between rich and poor, strong and weak. On the contrary, they help humans work together to benefit everyone. 

Rarely does the media mention some important facts about the "Founding Fathers": that they were lawbreakers and "criminals" according to British law.

This fall, we talked briefly with Audrey Redford, who was a Summer Fellow at the Mises Institute this year.

With European powers broke and economically ailing by 1916, World War One would have ended much sooner had the Federal Reserve and its cronies not stepped in to help England and France keep the bloodshed going. Meanwhile, US economic intervention led to a huge post-war bust in America.

The Free Market 32, no. 10 (October 2014)

It may seem unusual that an economist would talk about culture.

Marc Abela talks with us about the state of Austrian economics and the freedom philosophy in Japan.

The Free Market 31, no. 11 (November 2013)

The Free Market 31, no. 12 (December 2013)

And we will continue doing what we’ve always done with traditional academia and ensuring that our students who wish to pursue graduate degrees in economics and related fields will continue to benefit from our academic conferences, fellowships, and academic journals. 

My journey with Austrian economics and the Mises Institute began in 1992.

Labor unions and the general public almost totally ignore the essential role played by falling prices in achieving rising real wages.

The war on drugs has no benefits, just costs and negative unintended consequences. These include drug-addict crime, drug-dealer violence, bribery and corruption, and the increase in drug potency to deadly levels.

Economics students, including undergraduates, are groups I am targeting with the book. The book is not an introductory economics text from an Austrian perspective, and assumes that the reader already knows some economics.

Forbes’s “stable and flexible” gold standard would facilitate and camouflage an inflationary expansion of the money supply that would, according to Austrians, distort capital markets and lead to asset bubbles. The motto of our current gold-price fixers seems to be: “We want sound money — and plenty of it.”

The capitalist entrepreneur acts with a specific goal in mind: to attain a monetary profit.

The first-ever libertarians were the Levellers, an English political movement active in the seventeenth century.