Free Markets

Today, as always, the general citizenry needs to understand economic principles and to recognize economic fallacies.

It happens in every single economic exchange that is undertaken by virtue of human choice. Both sides benefit.

"It is vain, however, to call simply for clearer statutory definitions of monopolistic practice. For the vagueness of the law results from the impossibility of laying down a cogent definition of monopoly on the market."

That will give the FTC far greater power to block mergers than the statutory text or Supreme Court precedents permit.

"It's hard to be a contrarian. With the bubble in full bloom, the last thing you want to tell the boys at the club is that you have your money in cash or gold."

Are we going to let government's wartime central planners control our lives 70 years after the fact?

"The typical ploy of preserving 'standards of quality' meant that competition was hobbled, production and imports limited, and prices kept high."

"People must fight for something that they want to achieve, not simply reject an evil, however bad it may be."

Haiti will remain mired in poverty so long as the majority retains their current hostility to open competition and commerce.

Mises is one of the greatest men who ever lived for his insights into what he called "human action."