“Windfall Profits” Aren’t a Problem
[Reprinted from Free Market Economics: A Basic Reader, compiled by Bettina G. Greaves.]
Of all aspects of the free market economic system, the role of profit-making by individuals is the one most subject to controversy. An air of apology seems to permeate any discussion of profit-making, even among those who generally commend the market society.
Nomi Prins Previews ‘Collusion’ at our Upcoming Ft. Worth Event
The Mises Institute’s Case for Optimism
Mises never tired of telling his students and readers that trends can change. What makes them change are the choices we make, the values we hold, the ideas we advance, the institutions we support...Unlike Mises, we do not face obstacles that appear hopelessly high. We owe it to his memory to throw ourselves completely into the intellectual struggle to make liberty not just a hope, but a reality in our times. As we do, let us all adopt as our motto the words Mises returned to again and again in his life.
Money-Supply Growth Near a Ten-Year Low As Lending Slows
Growth in the supply of US dollars remained near a multi-year low in December, growing 2.9 percent, year over year.
In November, year-over-year growth in the money supply fell to a 129-month low, growing 2.7 percent. The last time the money supply grew at a smaller rate than November 2017’s rate was during March 2007 — at a rate of 2.1 percent.
Daniel McAdams Previews His Talk at Our Upcoming Ft. Worth Event
The Vatican’s Latest Anti-Capitalist Report Can’t Hide Its Interventionist Slant
In the classic 1966 film, A Man for All Seasons, the family of Thomas More — chancellor of England and eventual Catholic saint — counsels Thomas to arrest power-mad Richard Rich because they suspect (correctly) Rich will betray Thomas and because “that man’s bad.” To this, More replies “there’s no law against that.” Another family member retorts: “yes there is — God law.” More answers with: “then God can arrest him.”
On Foreign Trade
[Excerpted from Chapter VII of Principles of Political Economy and Taxation (1817). Ricardo, an economist of the “Classical School,” deserves credit for having been among the first to point out the advantages of specialization and trade, even if one party to the transaction could produce everything better and cheaper than the other. Reprinted from Free Market Economics: A Basic Reader, compiled by Bettina G. Greaves.]
