Free Markets

Just as, for them, liberty must be the highest political end, peace must be the highest end of foreign policy.

What are the results of the patent system itself? The results are distorted research, protectionism, wealth transfers, and enrichment of the patent bar. Large companies, such as IBM, amass giant patent portfolios.

Murray Rothbard, in his life, was known as Mr. Libertarian. We can make a solid case that the title now belongs to Walter Block, a student of Rothbard's whose own vita is as thick as a phone book, as diverse as Wikipedia.

We must face the fact, once and for all, that the argument of economists against the draft, though correct as far as it goes, is hopelessly narrow and inadequate.

Profit and loss is the heart of business and economic change. Entrepreneurs drive the market at every level, predicting future wants and taking risks with their property. Earning profits is never guaranteed.

The Gilded Age ushered in industrial leaders in capitalistic achievement. Success in the world of commerce reflected certain characteristics.

I hope that, in raising money for the Mises Institute by finishing the marathon, I will have enough inspiration to surmount the challenges I will face while running. My aim is to raise $1,000 for every mile that I run.

R.C. wouldn't tolerate news stories that referred to the "public schools," for example. His reporters were required to refer to them as "government schools." R.C. himself preferred the phrase "gun-run schools" and used it liberally on the editorial page.

On the contrary, the record of nearly every government in the world, in our time, is one of recurrent or continuous monetary inflation. It is to this monetary inflation that the apparent "successes" of full-employment policies are due.

It is the seeking of profits that is the key to increased living standards for everyone. But high profits do not necessarily correspond to real economic growth and can come about due to adverse circumstances.