Mises Daily

According to Greenspan, the Fed doesn't have much control over long-term interest rates.

How are we to understand the relation between the apparently radical and apparently nonradical aspects of his thought?

Here lie the two key factors that make the current cycle different than the past 2 cycles.

Redistribution is not ethical; it's theft and destruction. It is simply a means to satisfy the envy of some who seek to harm those who have obtained greater wealth through the satisfaction of the wants of consumers.

What's wrong with the argument that "if A is preferred to B and B is preferred to C, logically A is preferred to C"?

Always remember that there is no better time for smoking and drinking than when you are young, when your system can handle it.

But then finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears

Perhaps we would have a rational foreign policy — if Americans could be brought to realize that the first necessity is the renunciation of the lie as an instrument of foreign policy.

Environmental policy has operated on the assumption — as so eloquently stated by Lew Rockwell — that "private ownership is the enemy."

To Garrett, there is no heroism in war but only in creativity and production, and no folly greater than overthrowing the institutions that make creativity and economic progress possible.