Free Markets

The bottom line here is that insurance of this kind — as opposed to catastrophic insurance like car insurance, which pays for accidents and not for oil changes and general repairs — creates moral hazard.

But history proceeds, miracle after miracle, driving progress forward, uplifting humanity, bringing glorious things to life on earth.

Huebert correctly grounds his philosophy in Murray Rothbard's nonaggression principle, and even has the temerity to apply this vital insight to the state: "If one person cannot steal money from another, then the government (which is made up only of individual people) should not be allowed to forcibly take money from people, even if it is called taxation."

"The black market in information is simply individuals cooperating in order to manipulate their own private property."

Interviewed by special guest host, Zoe Russell, on the “Free Markets” internet radio program; 17 July 2010.

Lucidly and unflinchingly he shows it to be the only system consonant with individual freedom and personal autonomy, as well as with modern industrialized society.

"The point of employment is not just jobs: it is productive and economically viable jobs."

If laws or business customs force the employer to make other expenditures besides the wages he pays to the employee, the take-home wages are reduced accordingly. Such accessory expenditures do not affect the gross rate of wages.

Naturally, given Mises's emphasis on the centrality of the division of labor to the maintenance and progress of civilization, he is particularly outspoken regarding the evils of aggressive war, which on top of its physical and human toll brings about the progressive impoverishment of mankind by its radical disruption of a harmonious structure of production that spans the entire globe.

The idea of final utility is to the expert the open sesame, as it were, by which he unlocks the most complicated phenomena of economic life and solves the hardest problems of the science.