Mises Daily

Mises wrote this essay in 1940 from Geneva, where he lived after Nazis forced him out of Austria and his apartment was ransacked by German troops.

The envious are not satisfied with equality; they secretly yearn for superiority and revenge.

The price system performs the crucial function of transmitting knowledge throughout the society and thereby eliminates the need for bureaucracy.

Modern Monetary Theory (MMT) is a hip economic/financial paradigm apparently sweeping a world unsatisfied with mainstream economics.

The only real solution to negative-attack politics is to reduce the power and scope of government over our lives.

The socialist and anti-liberal movements we now face comes to use from intellectuals, aristocrats, and other elites. The "proletariat" has had no role in devising the movements we're told serve the interests of "the people."

No such thing as a "natural" monopoly has ever existed. In real life, so-called "public utilities" faced frequent competition, so they secured government monopolies to destroy the competition and invented the myths to rationalize their monopoly power.

The growth of statistics, often developed originally for its own sake, ends by multiplying the avenues of government intervention and planning.

Mises, unlike the neoliberals, argued that the best way to combat monopolies was to abolish the policies and government institutions that created them in the first place.

The Nazis did not invent polylogism — the idea that only certain groups are capable of correctly understanding the world. Marx pioneered that idea. But the Nazis did invent their own race-based version of it.