Axel Kaiser writes that Chileans’ “advantage is due to an historical accident, which is now coming to an end” and predicted that “Chile will show, in the coming years, that it is nothing more than any other Latin-American country.”
Our monetary system, combined with interventionist state policies, causes mass overconsumption, the destruction of wealth, capital consumption, and the destruction of nature.
Politicians are very proud when they can say a proposed program is "paid for." But this only means they've identified their intended victims ahead of time. Naming who will be plundered does not justify plunder.
As dismissive as many of us would like to be toward Marx’s thoroughly debunked labor theory of value, it still holds currency among today’s budding socialists.
The American Left used to argue that we needed higher taxes on the rich so they would "pay their fair share." Nowadays, they are arguing that billionaires shouldn't exist at all.
State agents are wrong when they claim, "If you stay here, you must follow our rules. If you do follow our rules, you have tacitly consented to obey us."
Hazlitt and all of the other critics of Keynes never did get to the primary points with respect to what was wrong with Keynes. One point was theoretical. The other was practical.
The Mises Institute’s message has not changed since our founding in 1982. Please join us as we forge ahead, fight for truth, and teach tomorrow’s intellectual leaders.
Mr. Volcker certainly deserves credit for curbing the Great Inflation of the 1970s. However, he also merits a lion’s share of the blame for unleashing the Great Inflation on the US and the world economy in the first place.
The idea that people are driven by fear of losses more than they are by the potential for gain has attained a sort of dogmatic adherence among behavioral economists. But there's a problem: the theory isn't true.
