10. Fiat Money and Government Deficits by Amadeus Gabriel

Online Text Page from The Next Generation of Austrian Economics: Essays in Honor of Joseph T. Salerno, Ch. III. Policy

Scholars* of the Austrian tradition are particularly known for their important work in the field of monetary economics. They analyze the dynamics of fiat money and its impact on the real economy.

10. The League of Nations

Online Text Page from Liberalism: In the Classical Tradition, Ch. 3. Liberal Foriegn Policy

Just as, in the eyes of the liberal, the state is not the highest ideal, so it is also not the best apparatus of compulsion. The metaphysical theory of the state declaresapproaching, in this respect, the vanity and presumption of the absolute monarchsthat each individual state is sovereign, i.e., that it represents the last and highest court of appeals.

10. The Argument of Fascism

Online Text Page from Liberalism: In the Classical Tradition, Ch. 1. The Foundations of Liberal Policy

If liberalism nowhere found complete acceptance, its success in the nineteenth century went so far at least as that some of the most important of its principles were considered beyond dispute. Before 1914, even the most dogged and bitter enemies of liberalism had to resign themselves to allowing many liberal principles to pass unchallenged.

10. The Concept of a Perfect System of Government

Online Text Page from The Ultimate Foundation of Economic Science, Ch. Chapter 5: On Some Popular Errors Concerning the Scope and Method of Economics

The "social engineer" is the reformer who is prepared to "liquidate" all those who do not fit into his plan for the arrangement of human affairs. Yet historians and sometimes even victims whom he puts to death are not averse to finding some extenuating circumstances for his massacres or planned massacres by pointing out that he was ultimately motivated by a noble ambition: he wanted to establish the perfect state of mankind. They assign to him a place in the long line of the designers of utopian schemes.

10.02. Cartels and Their Consequences

Audio/VideoSeptember 28, 2011
From Man, Economy, and State , narrated by Jeff Riggenbach.

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10. Action as an Exchange

Online Text Page from Man, Economy, and State, with Power and Market, Ch. 1. The Fundamentals of Human Action

We have stated that all action involves an exchange—a giving up of a state of affairs for what the actor expects will be a more satisfactory state.43 We may now elaborate on the implications of this truth, in the light of the numerous examples that have been given in this chapter. Every aspect of action has involved a choice among alternatives—a giving up of some goods for the sake of acquiring others.

PorcFest 2011

Mises DailyJuly 4, 2011
It was a blast, this libertarian-anarchist gathering in New Hampshire, and more evidence that this movement is growing.

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10. Back to the Jungle?

Online Text Page from Power and Market: Government and the Economy, Ch. 6. Antimarket Ethics: A Praxeological Critique

Many critics complain that the free market, in casting aside inefficient entrepreneurs or in other decisions, proves itself an “impersonal monster.” The free-market economy, they charge, is “the rule of the jungle,” where “survival of the fittest” is the law.

The Moral Case for the Free Market Economy

BooksJuly 6, 2006
Tibor Machan makes the case for the free market system of economics based on the view of human beings as moral agents with the legal system of a good community as designed to nurture this moral agency.

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The New Despotism

BooksMarch 16, 2010
When the modern political community was being shaped at the end of the 18th century, its founders thought that the consequences of republican or representative institutions in government would be the reduction of political power in individual lives.

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The Return to Laisser Faire

BooksJune 5, 2009
Government means, or should mean, the right ordering of all. Modern government has degenerated into tinkering with the wants or rights or liberties of classes or sections or groups, and it is rare, in these days, to hear a political discussion which takes adequate account of the interests of the...

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How to Keep Our Liberty

BooksJuly 17, 2009
"Individualities may form communities, but it is institutions alone that can create a nation." This was a comment by Benjamin Disraeli a century ago when he was beginning the task of building the Conservative Party, a party that still lives a lusty, constructive life...

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The De Moneta of Nicholas Oresme and English Mint Documents

BooksFebruary 14, 2009
Nicole Oresme has been called the most brilliant scientist of the 14th century: mathematician, musicologist, physicist, philosopher, and economist. On top of that, he was a Bishop and a theologian. His writings of money bear much in common with Carl Menger. Oresme's treatise on money, De Moneta...

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10. Stabilize the Price Level?

Online Text Page from What Has Government Done to Our Money?, Ch. II. Money in a Free Society

Some theorists charge that a free monetary system would be unwise, because it would not "stabilize the price level," i.e., the price of the money-unit. Money, they say, is supposed to be a fixed yardstick that never changes. Therefore, its value, or purchasing power, should be stabilized. Since the price of money would admittedly fluctuate on the free market, freedom must be overruled by government management to insure stability.

10. Going off the Gold Standard

Online Text Page from What Has Government Done to Our Money?, Ch. III. Government Meddling With Money

The establishment of Central Banking removes the checks of bank credit expansion, and puts the inflationary engine into operation. It does not remove all restraints, however. There is still the problem of the Central Bank itself. The citizens can conceivably make a run on the Central Bank, but this is most improbable. A more formidable threat is the loss of gold to foreign nations. For just as the expansion of one bank loses gold to the clients of other, non-expanding banks, so does monetary expansion in one country cause a loss of gold to the citizens of other countries.

10. "Resistances"

Online Text Page from Epistemological Problems of Economics, Ch. 4. On the Development of the Subjective Theory of Value

The economist is often prone to look to mechanics as a model for his own work. Instead of treating the problems posed by his science with the means appropriate to them, he fetches a metaphor from mechanics, which he puts in place of a solution. In this way the idea arose that the laws of catallactics hold true only ideally, i.e., on the assumption that men act in a vacuum, as it were. But, of course, in life everything happens quite differently.

10. The Why of Human Action

Online Text Page from Economic Freedom and Interventionism, Ch. II. Interventionism

There are no ivory towers to house economists. Whether he likes it or not, the economist is always dragged into the turmoil of the arena in which nations, parties, and pressure groups are battling. Nothing absorbs the minds of our contemporaries more intensely than the pros and cons of economic doctrines. Economic issues engross the attention of modern writers and artists more than any other problem. Philosophers and theologians today deal more often with economic themes than with those topics which were once considered as the proper field of philosophical and theological studies.

10. Autarky and Its Consequences

Online Text Page from Money, Method, and the Market Process, Ch. Trade

I. Terminological Remarks*

There is considerable ambiguity concerning the terminology to be used in dealing with the problems of international economic relations. It seems therefore expedient to start with a clear definition of some terms.

Authors Forum: 'Nullification!' and 'Rollback'

Audio/VideoMarch 11, 2011
Recorded 10 March 2011 at the Ludwig von Mises Institute in Auburn, Alabama. [18:02]

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7. Factors of Production: Convertibility and Valuation

Online Text Page from Man, Economy, and State, with Power and Market, Ch. 1. The Fundamentals of Human Action

Factors of production are valued in accordance with their anticipated contribution in the eventual production of consumers’ goods. Factors, however, differ in the degree of their specifity, i.e., the variety of consumers’ goods in the production of which they can be of service. Certain goods are completely specific—are useful in producing only one consumers’ good.