Mises Daily

"There is of course no point whatever in trying to formulate independent 'laws' for the behavior of two interdependent quantities.

The world is the product not of justice or of beneficent design, but of human limitations. Out of ignorance, and in the chaos of conflict, the world is built and rebuilt.

Ultimately, when Rose died — it was in 1968, she was 81 — Roger MacBride inherited everything she owned, including the fabulously valuable rights to the Little House books ostensibly written by her mother.

True political liberty demands many and severe restraints; it requires protection against itself, and is no longer safe when it refuses to submit to its own self-imposed discipline.

Even students who already have a strong understanding of more advanced Austrian concepts should consider reading Hahn's Common Sense Economics, for it will strengthen their foundations in economic theory.

Although I have tried in this article to show how discussions of competition may be prevented from being misleading, it may often be best to emphasize instead the cooperation of the market, for this is the more fundamental feature of a capitalist order, and this is what competition on the free market promotes.

But the centrality of the knowledge-corrective character of the market process for both Mises and Hayek cannot seriously be doubted. Whatever the differences between a Hayekian articulation of the market process and a Misesian articulation, the centrality of the notion of the corrective process for both, is the crucially important circumstance.

"I have often been asked to add to my negative critique of Keynes's theory the positive exposition of an economic theory that offered a more correct explanation and description of economic reality. The present book is my answer to this request."

"Zimbabwe's lush soil is the envy of all of Africa. The country is said to hold 80 percent of the world's platinum deposits and huge reserves of natural gas. And along with its rich natural resources, the Zimbabwean population boasts a literacy rate exceeding 90 percent. So what happened?"

Social order is like barbecue. Both are defined in the process of their emergence.