Mises Daily

Rather than plunging the taxpayers even deeper into debt, the government would do well to cut its own spending and return resources to private hands. Only then can true economic recovery begin.

Even some of the big unions, the steel union, for example, now doubt the effectiveness of wage increases that run beyond productivity.

The scholars, writers, and philosophers of a society have to be good or there is really little hope.

Social institutions matter most, and they are very wrong now: a huge improvement is possible, and freedom is the answer.

"They took care of themselves and recognized that having freedom means the freedom to fail as well as to succeed."

"So it is quite likely that in a free-market economy the threat of bankruptcy will bring to a minimum the practice of fractional-reserve banking."

Every government intervention creates new problems in the course of vain attempts to solve the old.

Finally, the freedom of wage rates and prices to fall must be established through the repeal of pro-union and minimum-wage legislation, and more fundamentally, the education of the public concerning the errors of the Marxian exploitation theory and their replacement with actual knowledge of what determines wages and the general standard of living.

"The 'two-party system' in the United States now consisted of two conservative parties and no liberal party."

The false belief that unions exercising the threat of strikes upon employers improve the welfare of labor is analyzed thoroughly and the conclusion is obvious.