Mises Daily

Try to find someone in present-day Vienna who is familiar with the exceptional work of the former finance minister of the Austrian monarchy.

“Peace, harmony, ease, security, happiness, will be found only in Individuality.”

The book is not about the need to cut the budget. Well, sure, the budget would be low to nonexistent if people adopted the views I defend here. But my aim is far more ambitious than that. I am inviting the reader, step by step, to rethink the view of government and society he has imbibed since childhood. A tall order, to be sure. But I'm throwing everything I've got at it.

Man the producer must have freedom, while man the predator puts limitations on freedom.

The main reason why so many state and local governments are bankrupt, or on the verge of bankruptcy, is the combination of government-run monopolies and government-employee unions. Government-employee unions have vastly more power than do private-sector unions because the entities they work for are typically monopolies. Their days are numbered.

The growth momentum of price indexes shows visible strengthening. Prepare for more. 

Hutcheson brought to Scottish philosophy a solid belief in natural rights and in the beneficence of nature.

Critics of Austrian economics often condemn Mises as dogmatic. In fact he advocated a commonsense method.

In a wider historical perspective, the current currency war is the latest conflict in a series of acute crises of the modern international monetary system. In a world of national monetary regimes based on fiat money without physical anchors, domestic monetary instability automatically transforms into exchange-rate instability.

The entrepreneurs and capitalists owe their wealth to the people who patronize their businesses.