Mises Daily

In the same way that we need some junior historian to devote his career to exposing every nefarious plot of the New Deal, so we need an economist to refute the General Theory.

By flooding the credit markets with money created out of thin air, the central banks of the world are interfering with humans' attempts to communicate with each other after the housing bubble popped.

Economic depression is good for the state. Even if the state knew how to end it, why would we suppose that it has the incentive to do so?

"Egyptian workers during this period suffered badly from the abuses of the state intervention of the economy…"

"Public estimation of eminence runs in reverse ratio to its genuineness," writes Mencken, anticipating Obama, "the sort of eminence that the mob esteems most highly is precisely the sort that has least grounding in solid worth and honest accomplishment."

The government can prevent market forces from operating by channeling resources into artificial channels.

The reason for this is that all production, including any new and additional production called into being by stimulus packages, itself entails consumption. And this consumption tends at the very least to approximate the fresh production and, indeed, is capable of equaling or even exceeding it.

So long as governments remain under the sway of environmentalist philosophy and arrogate massive tracts of land to their own inept control, no amount of legal tinkering will prevent the next bushfire.

Murray Rothbard was more aware than anyone of the ongoing evils perpetrated by government and he was never given the proper recognition in academia. But he was constantly happy and loved to laugh. Now I know Murray wasn't a joyous libertarian by himself; he had help from his smart, wickedly funny best friend Burt.

"By far the biggest fallacy is the belief that a growing economy requires a growing money supply."