Mises was two months shy of his fifty-ninth birthday. He had left Vienna some years earlier, escaping only days before the Nazis ransacked his apartment, confiscated his records, and froze his assets. He had hoped to be safe in Geneva. Now nowhere in Europe seemed safe.
The Austrian economists unconditionally rejected the logical relativism implied in the teachings of the Prussian Historical School.
Bruno Leoni makes it clear that any politician who will not reduce the reach of legislation cannot protect our liberty.
Granted, many of us have benefited from this era of "easy money," but that is going to change. Indeed, the party is over, the lights are out, and I don't know when they will be turned on again.
As every flood and government response since has made clear, government only wastes resources when it attempts to prevent floods while it continues to increase the danger and destructiveness of future floods.
The geeks will look back at their lives with satisfaction that they did their best to realize a dream. The wonks, looking back at their lives, see that they were little more than a cog in a machine.
State economic development agencies stand athwart this minarchist ideal. Their increased prominence today is just the latest form of mercantilism that classical economists rightly opposed in the past.
Despite what critics of the ABCT say, entrepreneurs can't easily avoid the effects of Fed intervention.
Of course, legalization would not entirely eliminate the black market demand for pot, but it would certainly be preferable to today's blanket, though thoroughly ineffective, expensive and impotent, criminal prohibition.
The unhampered market has the power to resolve its "defects."
