Mises Daily

Socialism is irreconcilable with freedom. This is the lesson that most of our modern philosophers and littérateurs have yet to learn.

It is savings — not demand — that enables the expansion of production of goods and services.

One effect of a minimum wage is to reduce the availability of on-the-job training, since more resources are required simply to hire and retain a workforce.

When confronted with the fact that Keynes' solutions would never work in the long run, he would dismissively say, "In the long run, we're all dead."

He took to laissez faire economics, not because of its utilitarian support, but because of his abhorrence of political intervention.

This is green tyranny at its worst: waste, distortion, and violating liberty in the name of "saving the planet."

Fed economists — like mainstream macroeconomics in general — are intellectually bankrupt and clueless at best or dishonest propagandists at worst.

Professor White's lecture showed that, historically, a free-market approach to the banking industry is less prone to crises and operates efficiently through the invisible hand of the market.

Price formation is the specific economic characteristic of the economy — as distinct from all the other social, historical, and technical characteristics — and that all specifically economic events can be comprehended within the framework of price formation.

The market's love of reality is triumphant.