Mises Daily

It's either crazy, or perhaps the explanation is right before our eyes: the Republicans find their true foreign allies in religious totalitarians who see killing as the answer to all human problems.

Forcibly curtailing the use of carbon-based technology cuts the ground from beneath the development of future low-carbon technology. It aborts the development of the necessary industrial base. Environmentalism thus stands a very strong chance of ultimately reverting to the more traditional socialism of massive government construction and engineering projects.

The assertion that saving renders the purchasing power of the consumer insufficient to take up the volume of current production, although made more often by members of the lay public than by professional economists, is almost as old as the science of political economy itself. The question of the utility of "unproductive" expenditure was first raised by the mercantilists, who were thinking chiefly of luxury expenditure.

The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters. In spreading discontent and social unrest, inflation generates favorable conditions for the subversive propaganda of the self-styled champions of welfare and progress. There cannot be any doubt that officialdom will be eager to sabotage a reform whose main purpose is to curb the power of the bureaucracy in monetary matters.

The Austrians began with the actions of the individual. Economic value, for example, consisted of the valuations made by choosing individuals, and prices resulted from market interactions based on these valuations.

Contrary to popular way of thinking, the threat to US economy is not the high level of debt as such but credit that is not backed up by real savings. Also, the fall in the money stock that precedes price deflation and an economic slump is actually triggered by the previous loose monetary policies of the central bank and not the liquidation of debt.

Without a market for blood, people will die. Do we really want to sacrifice more lives in service to the god of socialist economic management?

There is only one system that can support a national and world population on this scale, and it is not socialism, primitivism, or any other than capitalism. Moreover, no form of government can create wealth.

Unless there were some serious lack of coordination among prices, costs, and wages, mass unemployment would not exist in the first place.

The trouble with online gambling was that it was too successful in the eyes of many.