Mises Daily

The Austrian approach to economics dispenses with the idea of "economic man," and broadens economics to include all action, which takes place in a framework of scarcity. 

The only permanent way to cure poverty is to increase the earning power and productivity of the poor.

Once public opinion is convinced that the increase in prices will continue, everybody becomes eager to buy as much as possible and to restrict his cash holding to a minimum size. 

The "price" or purchasing power of money is the array of goods and services for which a unit of money can be exchanged.

Acton says the muse of the historian is Rhadamanthus, the avenger of innocent blood: "The historian must be a judge, and a hanging judge at that, to right the wrongs of history."

All the teachings and precepts of ethics presuppose the moral autonomy of the individual and therefore appeal to the individual's conscience.

Contrary to myth, Nazi Germany was a socialist state, not a capitalist one.

The Roman Empire crumbled to dust because it lacked the spirit of liberalism and free enterprise.

A history of statism and credit expansion that demonstrates the failure of Keynesian policy. (Analysis by Jeffrey Herbener)

The New Deal is a paradigmatic case of how to turn a downturn into a depression. That US leaders regard this as a model to follow does not speak very well of their economic literacy, and it doesn't bode well for our future.