Free Markets

The world is the product not of justice or of beneficent design, but of human limitations. Out of ignorance, and in the chaos of conflict, the world is built and rebuilt.

Ultimately, when Rose died — it was in 1968, she was 81 — Roger MacBride inherited everything she owned, including the fabulously valuable rights to the Little House books ostensibly written by her mother.

True political liberty demands many and severe restraints; it requires protection against itself, and is no longer safe when it refuses to submit to its own self-imposed discipline.

Even students who already have a strong understanding of more advanced Austrian concepts should consider reading Hahn's Common Sense Economics, for it will strengthen their foundations in economic theory.

Although I have tried in this article to show how discussions of competition may be prevented from being misleading, it may often be best to emphasize instead the cooperation of the market, for this is the more fundamental feature of a capitalist order, and this is what competition on the free market promotes.

But the centrality of the knowledge-corrective character of the market process for both Mises and Hayek cannot seriously be doubted. Whatever the differences between a Hayekian articulation of the market process and a Misesian articulation, the centrality of the notion of the corrective process for both, is the crucially important circumstance.

"I have often been asked to add to my negative critique of Keynes's theory the positive exposition of an economic theory that offered a more correct explanation and description of economic reality. The present book is my answer to this request."

"Twenty-five percent of college-bound high-school students cannot name the ocean separating the United States from Asia. This happens despite the fact that education funding in the United States tripled from 1960 to 2000."

"The pensions/social security system is an intergenerational Ponzi scheme, the biggest scam ever invented."

Ayn Rand made the case for the freedom philosophy in the most aggressive manner possible, bless her. And, "capitalism" was a crucial element of that effort.