The great debate between Capitalism and Socialism has been settled, but we continue to experience an ever-expanding management of the U.S. economy, which itself is a form of socialism. Mises wrote in Socialism : “It is the aim of Socialism to transfer the means of production from private ownership to the ownership of the State.” Socialism, as
“The liberals of the eighteenth century were filled with a boundless optimism. Mankind is rational, which permits the right opinion to emerge in the end. Light will replace darkness Democracy with its freedom of thought, speech and press assures the success of the right doctrine. Let the masses decide; they will choose wiselyNobody would now
On December 31st, 1930, White Motors’ balance sheet reported cash of $8.5 million, receivables and merchandise of $15 million and net fixed assets of $14 million. Less liabilities of $1.3 million, the company had a net worth position of $36.2 million. The company’s stock price was trading between $7 and $8 per share. At the 12/31 close, the stock
Americans are concerned about the rising cost of pharmaceutical drugs. This has drawn the attention of writers, politicians, and others who have attempted to deal with the issue in typical fashion by advocating the use of government force to implement their plan. No exception to the general rule, Kathleen Day, a media fellow at the Kaiser Family
News Item: GOP Vice presidential pick Richard Cheney...from White House chief of staff for President Gerald R. Ford at age 34 through five terms in Congress to secretary of defense to his current tenure as chairman and chief executive officer of Halliburton Co. which is “working directly with nationalized oil companies around the world to develop
In many countries interventionism has so undermined the supremacy of the market that it is more advantageous for a businessman to rely upon the aid of those in political office than upon the best satisfaction of the needs of the consumers.” Ludwig von Mises, Human Action p. 310 (Scholar’s Edition) In a free market where property rights are
Statism is the primary theme of this year’s election. The political issues of the day are all approached from the interventionist point of view. For George Bush and Al Gore, it is not a matter of whether government should be running a social security scheme or not. It is only a matter of how government might save it. In the realm of health care,
The Free Market 18, no. 5 (May 2000) Americans are concerned about the rising cost of pharmaceutical drugs. This has drawn the attention of writers, politicians, and others who have attempted to deal with the issue in typical fashion by advocating the use of government force to implement their plan. Kathleen Day, a media fellow at the Kaiser
The Free Market 18, no. 9 (September 2000) Dictatorships always immediately ban short selling,” wrote Fred Schwed, Jr., in his fun 1940 book on investing, “since it is axiomatic with them that no professional pessimists are going to be tolerated.” Indeed, the long-vilified bearish practice called short selling involves a sale of borrowed stock
The Free Market 18, no. 12 (December 2000) Statism was the primary theme of this year’s election. The political issues of the day were all approached from the interventionist point of view. For George W. Bush and Al Gore, it was not a matter of whether government should be running a social security scheme or not. It was only a matter of how
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.