Mises Daily

"If carbon dioxide is classified as a pollutant, then every breath we take can be regulated by government." That sums it up perfectly.

Paul Samuelson is the one who laid the theoretical foundation for this systemic anarchy. Milton Friedman then provided the emperor's new clothes, dressing it in the garb of neoliberalism. That is how these two leading figures in American economic thought were united in unleashing on the world community the system that has now collapsed.

"Liquidity was the cause of the crisis, and now excess liquidity is presented as its solution!"

Instead of facing the truth and permitting not only the malinvestments to fail, but a real recovery to take shape, Obama, Krugman, and their allies are insisting that all this "perpetual motion machine" known as an economy needs is a little more spending to lubricate the gears and send it on its merry way.

Rothbard was the first to fully integrate economic science, moral philosophy, and political theory in a unified theory of liberty.

A full-blown bailout of the banks responsible for making bad loans will only further an economic system of private profits and socialized losses.

The oft-used cliché in response to harsh criticisms of the country or its government is "If you don't like it, you can leave." Republicans made it much more difficult for disgruntled citizens to follow this advice; it is time to repeal this profligate legislation.

Rothbard has been proven correct. Mathematical modeling has revealed itself to be a vain and formalistic exercise incapable of explaining the international currency crises, stock-market and real-estate bubbles, or the global financial crises that have racked our world in the past two decades.

The correct road to recovery is the path to a "free and prosperous commonwealth."

Brad DeLong and Paul Krugman continue to mock the Austrian explanation for the business cycle, but their ridicule is based on their own deficient model of the economy's capital structure.