As the misinterpretation of these facts has generated a whole mythology of "imperfect competition" and "monopolistic competition," it is necessary to enter into a more detailed scrutiny of the considerations of an entrepreneur who is weighing the pros and cons of an expansion of his business.
This is not the only instance in which Frank refutes his own arguments. Like most good leftists, Frank dislikes SUVs.
There are only inflationists on Capital Hill and Obama has a bigger bag of boondoggles than FDR could have ever imagined.
Even if the "debt deflation" scenario is generally right, the absolute effect could be swamped by the relative effects, meaning that retirees on fixed dollar incomes could still get wiped out when their standard monthly expenses rise.
As the late 20th century's disastrous experiments with totalitarianism and interventionism showed, Mises's criticisms have most certainly stood the test of time.
The mathematical method must be rejected not only on account of its barrenness. It is an entirely vicious method, starting from false assumptions and leading to fallacious inferences."
There is a serious danger in the refusal to acknowledge the inferential and moral legitimacy of instances of rational discrimination.
The housing debacle was a project created over three-quarters of a century by fascists from both parties.
Nuclear energy is the cleanest, most efficient energy we have — by light years. Anyone who tells you differently, is flat-out wrong.
Government spending merely directs scarce factors of production away from their most productive uses.
