Mises Daily

The efficient-markets hypothesis is actually a tautology, or a way of viewing the world.

It is said, “There is no better investment than taxes. Only see what a number of families it maintains, and consider how it reacts upon industry: it is an inexhaustible stream, it is life itself.”

[This article is excerpted from the introduction to The Rise and Fall of Society, available in

By Mises' teachings he has sown the seeds of a regeneration which will bear fruit as soon as men once more begin to prefer theories that are true to theories that are pleasing.

But ignorance cannot account for Keynes's claim that he was the first economist to try to explain unemployment or to transcend the assumption that money is a mere veil exerting no important influence on the business cycle or the economy.

All consumers place a high value on their personal safety. The sellers of any consumer product must fulfill this desire in order to profit in a capitalist economy.

Mankind must stop tolerating this thing called the state, which presumes the right to force us to do what it wants us to do, rather than what we want to do.

For libertarians who reject the legitimacy of the state,[29] or legislated law,[30] this is yet another defect of IP, and a conclusive one.

The liberal traditions on which this nation was founded are now so little understood that each person will have to largely do his own research, laboriously and carefully.

Insurance regulation in the United States is not working because it makes insurance a static, uncreative and boring business.