There is 1 percent out there who do live parasitically off the population and exploit the 99 percent. Even today the state is made up of a tiny sliver of the population but is the cause of all the impoverishing wars, inflation, taxes, regimentation, and social conflict.
Whether it's diamonds and water or hardbacks and e-books, the only cogent explanation for prices comes from the Austrians, not the classical economists.
From Man, Economy, and State, narrated by Jeff Riggenbach.
What the protesters do not realize is that the wealth of the 1 percent provides the standard of living of the 99 percent.
The labor of the plowman is of less value than that of the artisan.
The proponents of syndicalism suffer most from a total ignorance of economics.
Capital, interest, and entrepreneurship all come together in the Austrian explanation of the market price of land.
The perception that something is fundamentally wrong in Western societies explains why Hessel has sold millions of copies of his brief and provocative pamphlet.
Both Mises's and Rothbard's positions have aroused a great deal of discussion. It's time we dig deeper.
