Mises Daily

Williamson urged me to follow my passions, not to follow the crowd.

We know what these measures do. They delay economic adjustment and recovery; they extend economic hardship, regardless of whether we call the hard times a depression or a "great recession."

"It was the hidden hand of government that failed, not the market."

Allowing free entry to the arbitration market would allow firms to compete over the right to interpret and enforce contracts between doctors, patients, and insurers. This situation of dynamic competition will lead to a more efficient allocation of risk burden and make healthcare more accessible and valuable for all consumers.

"The reason why inflation is bad news is not because of increases in prices as such, but because of the damage inflation inflicts to the wealth-formation process."

"Since the functional unit of all life and all action is the individual person, it is here that any sound concept of human rights must be anchored."

So Keynes enables Posner to throw off the shackles of rational choice almost completely.

Why is it taken for granted that we need a state at all?

"Preventing trade means that we use more resources to produce less wealth."

This is old-fashioned redistribution, to sustain the unsustainable.