Mises Daily

"If this mania increases we shall slide into a social order under which everyone has one hand in the pocket of another."

Reading groups can use Mises.org to provide most of the necessary resources free of charge — or at worst for relatively little cost — while they spread libertarianism to people that would have otherwise not stumbled upon it by surfing the Internet.

"The discount of future goods as against present goods is a necessary and eternal category of human action."

As long as the money- supply rate of growth remains a positive figure, there can be no deflation.

"Mercantilist 'theory' was a set of rationales designed to uphold or expand particular vested economic interests."

The fact is that, exactly as Mark Lilla fears, when people distrust authority in a generalized way and start thinking for themselves, often without much relevant information to guide them, they'll make many decisions that they'll later regret. But whose decisions are they to make?

"Fulfilling the doctrine of the 'invisible hand,' the speculator, by his profit-seeking activity, causes more food to be stored during years of plenty than otherwise would have been the case, thereby lessening the effects of the lean years to come."

This is embarrassing. Here we have a textbook on money, banking, and financial markets, where, presumably, interest-rate theory should play a central role. But there is no theory of interest here.

"Instead of spending time on adapting their product to the desires of consumers, homebuilders are busy adapting their homes to the code. Innovation is the victim."

It is natural to wonder what scholar today has inherited the mantle of Rothbard. To me this is the wrong way to look at it. Rothbard vastly broadened that mantle so that hundreds, thousands, and millions of people can wear it.