Mises Daily

Austrian economists have long recognized that the economy is far more complex than simple models capture.

Americans will never reclaim the dream if presidents like Lincoln and Roosevelt are held up as examples of "great" presidents.

Austrians have a different way of understanding history. For Rothbard, for example, a particular price datum is, no less than the Spanish-American War, a historical event, and its causes must be traced back to the subjective aims governing human plans and choices.

Ron Paul runs an honest campaign. Unlike that of the typical politician who carefully tailors his speeches to match the prejudices or vested interests of his audience, Dr. Paul's message is always the same: fractional-reserve banking and fiat money are violations of historic legal principles.

We would do well to study the intellectual, political, social, and economic history that made Mises write with such urgency and passion.

There is 1 percent out there who do live parasitically off the population and exploit the 99 percent. Even today the state is made up of a tiny sliver of the population but is the cause of all the impoverishing wars, inflation, taxes, regimentation, and social conflict.

Whether it's diamonds and water or hardbacks and e-books, the only cogent explanation for prices comes from the Austrians, not the classical economists.

An increase in the quantity of money doesn't bring any general improvement of conditions.

What the protesters do not realize is that the wealth of the 1 percent provides the standard of living of the 99 percent.

The labor of the plowman is of less value than that of the artisan.