Mises Daily

"In a year or two, we just moved right from that stock-market bubble, almost seamlessly, into the real-estate bubble, and nobody could see that there was any similarities."

"There is no incentive for bank depositors to go to the trouble of determining a bank's soundness if the government is going to guarantee deposits."

As I see it now, democracy is not to the advantage of the demos, it is to the advantage of the power elite.

In addition to his merciless evisceration of the propaganda surrounding specific New Deal programs, Murphy assembles some suggestive evidence, in addition to the clear testimony of economic theory, regarding the destructive, growth-inhibiting nature of the New Deal in general.

These are dark times, but the foundation has been laid for a classical-liberal renaissance. Policy after policy threatens us with short-run malaise, but I for one remain hopeful and optimistic.

"Like all things designed to suit the taste of the masses, advertising is repellent to people of delicate feeling."

The progressives demanded efficiency in government and spurned traditional American practices as obstacles on the path to needed reforms.

Government interventions are at the root of the problem as they disrupt the incentive structure that bankers face, limiting their propensity to abide by this sensible practice. The explicit guarantee by the Central Bank of Iceland altered bankers' risk preferences, and resulted in the risky undertaking being gingerly assumed to be sustainable.

As Mises relates in the present book, he had early on adopted the principle of never writing about the personal moral shortcomings of his opponents, of focusing instead on their intellectual errors in order to combat the latter more effectively.

Partisans on both sides of the debate concede that if the United States imposes unilateral emission cuts, there will be a negligible effect on global temperatures.