Mises Daily

On a competitive market there is no such thing as a price policy of the sellers. They have no alternative other than to sell as much as they can at the highest price offered to them.

The whole notion of paying off past investors with the funds of present investors is at the very core of the Social Security system. At least Madoff sought the consent of his investors who let him care for their money based on their own volition. And at least he didn't attempt to defend himself with the claim that he was conducting wise public policy.

In Krugman's world, prosperity is created by spending, and it does not matter who spends what on whom just as long as someone is spending.

Any audit that exposes the Fed's relationship to the state will be worth doing, even if the Fed's friends keep it where it is.

Remember the flight to "safety" into T-bills and T-bonds? Most people fled from hard assets. These are the victims. They believed the propaganda of the establishment.

And if we must have government, let it remain small and insignificant, spending its time cutting ribbons and bickering over nonsense like the color of street signs. Let the rest of us enjoy the freedom to pursue our own happiness.

As things stand, central banks' monetizing government debt is presumably the way forward for producing inflation — which is, and must be, defined as a rise in the money stock.

The entrepreneur takes calculated risks, and typically "builds" using the carpenter's rule: measure twice, cut once. If it does not make financial sense to build, the entrepreneur will not do so. In addition, the entrepreneur would later know — through the profit-and-loss mechanism — whether such a decision was prudent or foolish.

Another way of saying this is that any government with the power to take an atheist's money and give it to my church is also a government with the power to take my money and give it to Planned Parenthood. When we use force to restrict others' liberty, we endanger our own.

"What distinguishes the Austrian School and will lend it everlasting fame is its doctrine of economic action, in contrast to one of economic equilibrium or nonaction."