Mises Daily

People often flirt with the idea that we need a little bit of fascism — but only on the side of God and democracy.

Far from being a bucolic utopia, economic conditions were highly unsatisfactory on the eve of the Industrial Revolution. The traditional social system was not elastic enough to provide for the needs of a rapidly increasing population.

In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period.

Because enforced contract law and full property rights are the foundations of freedom, governance systems should be based on enforceable contracts that defend property rights.

The great boon of human freedom experienced in earlier decades has, in the long record of thousands of years, been enjoyed by a mere fraction of the people and for only a brief moment in history

One of the most brilliant and forceful attacks on Cold War foreign policy in the postwar era came from the pen of the veteran free-market publicist Garet Garrett, in his pamphlet “The Rise of Empire.”

In every administration, the tools of inflation, borrowing, taxation, and regulation are used to transfer wealth from the people to the government.

The objections raised against the market economy are based on very bad economics.

The Secretary of Defense acts as an indispensable liaison between parties, business, and the state.  The job is guarded by a special class of loyalists, usually extremely bright individuals chosen by the state's elites.

It becomes evident from Richard von Mises's fundamental work that mathematical probability theory can never be applicable to economics, or to any other study of human action.