Mises Daily

"It turns out that there was nothing inevitable about cultural decline. All it takes is one person to make the change."

Although John Cassidy didn't realize it, his analysis underscored the role that government policies played in the recent financial disaster.

Democracy may be a self-limiting disease, as civilization itself seems to be. There are thumping paradoxes in its philosophy, and some of them have a suicidal smack.

"Bastiat knew what most educated people never learn, that the source of all injustice in society stems from violations of freedom."

"The Aquinas–John of Paris–Locke view is the 'labor theory' (defining 'labor' as the expenditure of human energy rather than working for a wage) of the origin of property, not a labor theory of value."

The unseen effect that is missing in his "Broken Window" analysis is the diversion of time and energy from a community-enhancing endeavor (the unseen) to one of restoration (the seen).

"Just as serious as the economic disruption are the social consequences of inflation."

"The object aimed at in the punishment of vices is to deprive every man of his natural right and liberty to pursue his own happiness under the guidance of his own judgment and by the use of his own property."

We suggest that the threat of future crises will disappear once the Fed stops tampering with interest rates and the money supply. Furthermore we suggest that the act of money creation out of thin air is going to disappear once the present paper standard is replaced with a gold standard. If we allow a market-chosen money to fulfill the role of the medium of exchange, the issue of inflation will also disappear.