Mises Daily

Economics in One Lesson has convinced me that free-market economics is as beautiful, in its way, as is a prism, a diamond, a sunset, the smile of a baby.

There is something government can do in the Austrian cure for a recession: radically remove itself from the economy.

Efforts to avoid the agony of recession—policies that seek to prop up insolvent firms and maintain employment—will only ensure that more resources are squandered in unsustainable lines.

We are once again in a situation where the public and the economics profession have rushed to judge capitalism as the source of periodic and severe crises.

Discovering the Austrian business cycle theory, then, is a revelation, because through it, you learn how the whole business traces to loose money and credit generated by the Fed.

Jobs cannot be created by government fiat.

I do not want to be forced to conform to someone else's guidelines.

The Clinton years are a case in point. Spending rose very little. Warfare was curbed relative to the past and present. Deficits fell. The public sector shrank.

By now we should all be ready to move beyond hysteria, get a grip on reality, and begin thinking about how to repeal everything the government has done during the past six weeks.

The original Misesian insight has withstood the test: it still seems that the Fed was a necessary condition for the worst speculative bubble in world history.