In our technocratic age, it is easy to dismiss the latest technological developments as an avenue toward freedom, but some of them still bode well for markets.
Opponents of secession say secession is wrong if some people in the population don't want it and say they will be worse off. The American revolutionaries disagreed and seceded anyway.
People are innovative—if government doesn't get in the way. Entrepreneurs in developing countries find alternatives for people cut off from commercial banking services.
Rest in peace, "technolibertarianism." There was a time when many believed tech entrepreneurs would usher in a new era of freedom. Unfortunately, the new tech elites are technocratic collaborators with the regime.
Mises en 1926: La opinión pública siempre quiere «dinero fácil», es decir, tipos de interés bajos. Pero la propia función del banco emisor de billetes es resistirse a tales demandas, protegiendo su propia solvencia.
Mises in 1926: Public opinion always wants "easy money," that is, low interest rates. But it is the very function of the note-issuing bank to resist such demands, protecting its own solvency.
At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money.
One of the fundamental tenets of Austrian economics is the ordinal value scale. Augustine articulated the idea more than a thousand years before Carl Menger wrote his pathbreaking Principles of Economics .
