Mises Daily

A curious thing is happening in this extraordinary election year. The liberals are beginning to adjust to Ronald Reagan. After all, they claim, he's getting more moderate, he'll have to shift to the center to win the election, and he was a moderate and "flexible" governor of California for eight years. Maybe he won't be that bad, certainly not as erratic as Carter.

Beam’s chief problem, and the basic nature of New York magazine’s ignorance, is a certain degree of historical illiteracy. But that’s commonplace in our society. It is, therefore, one of the chief things we have to focus on.

Long before interventionism became a fixed policy of the government, American students went to Europe to complete their education, and immigrants introduced their exotic foods to the American table. But these were voluntary adoptions.

The danger looming before the Western world is a possible outcome of the gradual drift of traditionally free-enterprise countries toward a totalitarian concentration of economic power due to reactions to “stagflation.”

If the newly elected budget "hawks" really wanted to impress us, they could refuse to raise the debt ceiling. Then they and their colleagues would have no choice but to start slashing.

Walt Disney maintained his desire to see the free-enterprise system of America always promoted as the solution to issues that societies face. The unfortunate reality of the present is that Disney World is becoming more of a museum about a bygone era.

It was the physiocrats who broke with centuries of sound economic reasoning and contributed to what would become, in the hands of Smith and Ricardo, a reactionary and obscurantist destruction of the correct analysis of value.

The burgeoning economy of Mauritius stands out by being ranked 12th by the Heritage Foundation on their 2011 Index of Economic Freedom — just below Chile and just above Luxembourg. The index ranks nations based on freedom in categories such as business, taxes, money, finance, and labor.

Human beings do not possess a mystical property of “probability” inside them; rather, they always act on their subjective beliefs and values. Probability in the human world is thus merely a measure of man’s uncertainty about the subjective beliefs and values that influence the actions of other men.

The first great error here is the mental habit that many have of thinking that big government and big business are somehow at odds. The whole of American history from the beginning to the present suggests precisely the opposite.