Mises Daily

Although Frum naturally doesn't say it explicitly, the only "cushion" that unbacked fiat money can provide is that it allows politicians to literally paper over crises, limping along from one to the next.

We must conceive that a man who does not prefer satisfaction within a nearer period would never achieve consumption and enjoyment at all.

Remember: there is a story like this behind just about everything government does. If you comprehend that, you can understand why people like Albert Jay Nock said that the state is always and everywhere the enemy.

It is important to remember that stories of Holiday spending-induced economic growth may be misleading.

 The advantages of the corporate form — limited liability and raising capital — have been known for as long as mankind has had the technology to produce useful things whose production is too expensive for a single investor to handle.

Two world wars have converted the libertarian American dream of pre-1914 days into a nightmare of fear, regimentation, destruction, insecurity, inflation, and ultimate insolvency.

Barnes was the Complete Historian; and it was the historical approach that informed his work in all the other social science disciplines in which he was so remarkably productive: sociology, criminology, religion, economics, current affairs, and social thought.

Real civilization is built on a foundation not of exploitation but of cooperation.

An unwise and overambitious foreign policy, and particularly the effort to do more than we are able to do, is the one thing which might in the end destroy our armies and prove a real threat to the liberty of the people of the United States….

[N]o good can be employed for the function of a medium of exchange which at the very beginning of its use for this purpose did not have exchange value on account of other employments.