Why is Medical Care so Expensive?
Medical expenses are rising faster than the costs of any other service, writes Hans Sennholz. This is the inevitable consequence of a 1965 Social Security amendment molding Medicare and Medicaid.
Money and the Individual
[This foreword to The Theory of Money and Credit by Mises (1912) was originally published in the 1981 Liberty Fund Edition of Mises’s book.]
Mining for the Next Million Years
For many years, I’ve been pointing out that the entire mass of the earth, from the upper limits of its atmosphere 4,000 miles straight down to its core, consists of nothing but solidly packed chemical elements. There is not one cubic centimeter anywhere in the earth’s mass that is not some chemical element or other, or some combination of chemical elements.
The Misesian Sights: An Austrian Visits Vienna
I was on a combined “work” and play trip to Europe, but the inner nerd in me took over. The so-called work had just finished. My wife joined me and we were enjoying the sights (and tastes) of Vienna. That’s when it happened. I broke out a folded up printout of the Mises.org “Misesian Must-See Places in Vienna” and the quest began.
Stereotyping Defended
Most people feel that stereotyping is always wrong and unfair, notes Ninos Malek. It is, however, a method that people use, consciously or subconsciously, as an efficient way of economizing on information costs.
That WSJ piece
Many people have written to ask about the response to that WSJ article on the Mises Institute.
Greed and Katrina
Greed for political power can be more harmful to a population’s overall well-being than the capitalist “greed” an entrepreneur might have for a larger market share or the “greed” a worker might have within capitalism for a larger income.
As a case in point, recent disclosures about the level of corruption and fraud related to the relief efforts involving Hurricane Katrina show a pattern of dishonesty and “greed” among all sectors, among businesses, government and the general population.
Joel Klein, Monopolist
[Cross posted at Organizations and Markets]
Egalitarianism as a revolt against economic variables
Scott Adams, author of the Dilbert comic strip, had some interesting observations regarding subsidies and taxes that different bodied people avoid and pay.
The gist of it can be seen in his all-you-can-eat buffet example: those with smaller appetites essentially subsidize those with larger appetites.
Crushing Innovation: The Case of FM Radio
Those who continue to tout the positive role of the state in technological innovation (”the gov’t made the Internet!”) should read this chilling tale of what happened to the inventor of FM radio, Edwin Armstrong. In short, the FCC and established big businessmen (naming names: David Sarnoff of RCA) kept FM buried for decades and devastated its inventor. Monstrous!
