Mises Daily

Communism is extreme socialism; socialism is extreme statism.

Laissez-faire is natural, moral, and biblical.

The American past is filled with high drama, and it is tragic if this drama is not conveyed to the reader…

In my field of economics, we have generally dismissed inferences based on mere correlations.

Thus, to say it all in one sentence, the threat of massive deflation can be eliminated, the threat of inflation ended, and the actual and potential domain of economic freedom greatly expanded, for $11 billion — an $11 billion that would not even be an out-of-pocket expense to anyone but merely a balance-sheet charge on the books of the Federal Reserve System when it deducted its gold holding from its balance sheet and added it to the balance sheets of the banks.

Binkley believes that as Las Vegas becomes like the rest of the country, the rest of America is becoming at least a little like Las Vegas, with gambling popping up everywhere.

Apparently in the 1930s only Mises was courageous enough to point out that political organizations were responsible for the unnecessary aggravation of the economic crisis of 1929.

Profit-seeking individuals are constantly searching for the most economic ways to produce goods for consumers, and virtual goods are no exception.

We are able to make more sense of all this insanity if we use the Austrian lens to observe that money doesn't have to be a force for human motivation. It is, rather, a tool of calculation.

People want to be happy.