Mises Daily

Socialism has simmered down to the advocacy of strong government, with this proviso: that that government is best which is run by socialists. Too many capitalists have made their peace with this system.

The widespread popularity of science fiction is one of the factors that has helped to keep individualism at the center of American culture.

This is your one-article guide to understanding a core idea of economics.The law of diminishing marginal utility plays a crucial role in showing that socialism is economically and ethically inferior to capitalism. It also has surprising implications for every area of policy, including money, interest rates, and property rights.

If Bernanke has to choose between saving rich bankers or the dollar, I am confident he will choose the former. We have good reason to expect rising prices and no dramatic efforts to reverse course.

Patent and copyright, to take the two worst manifestations of IP, are nothing but state monopolies that violate property rights. IP is antithetical to capitalism and the free market.

The use of mathematics necessarily leads the economist to distort reality by making the theory convenient for mathematical symbolism and manipulation. Mathematics takes over, and the reality of human action loses out.

Contrary to what the president told the US Chamber of Commerce, government regulations deserve no credit for the invention and marketing of the auto-defrosting refrigerator and freezer.

The trouble lies in the fact that people do not have an object — one thing to which they stick, letting all else go. Success is the product of the severest kind of mental and physical application.

Mises's notable theory of classes has been curiously neglected. By bringing it back into prominence, we have to abandon the cozy view that all of us, we and our privileged rulers alike, are in a continuing harmony of interest.

At least one reviewer was dismayed that everything had a price in the <i>True Grit</i> story. Indeed, Mattie Ross is constantly making economic calculations while trying to make the best deals she can.