There’s nothing bad about drilling for oil. And there’s nothing bad about the fact that the industry has created a lot of jobs. It is problematic however, that the industry is highly leveraged and reliant on easy money policies to keep the exploration and drilling going. Similarly, there was nothing bad about building a lot of housing during the 1990s and 2000s. The problems arose not from the fact that homes were being built, but from the fact that they were built on a mountain of debt based on easy money.

Mises Daily Monday by Matt Battaglioli:

Many look to socialize health care as a way to reduce costs, but the only way to increase supply and reduce costs is for government to stop subsidizing health care while limiting its supply.

Looking back on our first year of Mises Weekends, we decided to check the numbers and run the program with the highest ratings as we close out 2014.

David Henderson has an important post, “The Wonder of Economic Freedom”. I truly appreciate his emphasis not just on markets, but on economic freedom; what I called elsewhere a free economy – which is much broader than just what is normally viewed as ‘market activity’.

Mises Daily Friday by Joseph Salerno: 

Reducing government spending results in an immediate increase in welfare for all productive members of the economy. But, the way we calculate economic growth is rigged to make it look like more government spending fuels economic growth.

Rothbard called Richard Cantillon the “founding father of modern economics.” Chantal Saucier and Mark Thornton’s English translation of Cantillon’s 1755 masterpiece Essai sur la Nature du Commerce en Général is now available for audio download on iTunesU and in the Mises Library.

This audio book is available thanks to the generosity of Mr. Tyler Folger.

As you spend the day with family and friends, we thought you might take some time away from bowl games to enjoy a vintage Rothbard speech that touches on twin themes appropriate to January 1st: reflecting on the past while looking to the future.