Free Markets

"Within the Misesian-Hayekian framework, the only permanent solution to existing malinvestment is to allow its liquidation and the readaptation of the structure of production."

"The sole difference between a gossip and a blackmailer is that the blackmailer will refrain from speaking — for a price."

Contributors to Liberty who rejected intellectual property as a natural right were not hostile to copyright or patent enforced by contract.

The rich can indeed help us all, not by spending but by being thrifty and even miserly for as long as necessary to fix what the government has broken.

The exercise of arbitrary or dictatorial power is, of course, the whole purpose and function of all those agencies, commissions, and czars.

"Even mainstream economists recognize the role that price discrimination can play in allowing producers and consumers to exploit potential gains from trade."

It is through the interaction of many people in the marketplace of ideas and goods that street art, indeed any innovation, is able to reach millions.

American libertarians would be particularly interested in Peake's great novel, since the perspective on the individual and society that pervades it is very libertarian in the broadest sense of that word.

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.