Free Markets

Not all reforms are improvements. As we have seen, the 100-percent-reserve solution is ripe with unintended consequences.

In order to make it easier for the central banks to embark upon credit expansion, the European governments aimed long ago at a concentration of their countries' gold reserves with the central banks.

John Calvin's social and economic views closely parallel Luther's, and there is no point in repeating them here. There are only two main areas of difference: their views on usury, and on the concept of the "calling."

The state benefits from the shortage of information that the speed of events imposes on people."

A libertarian approach to adoption, as Murray Rothbard laid out in his Ethics of Liberty, would solve the Haitian crisis in a swift and orderly manner.

Capitalism sought to unleash the cooperative and competitive spirits of the human person and ended up abolishing scarcity in life's most valuable things.

In areas of normative economics, this event [Becker receiving Prize]will give a sharp boost to many of the free-market views held by Austrians. But, as far as positive economic analysis is concerned, there is no help here for the praxeological school.

Our analysis holds that the key reason for financial instability is not the repeal of the Glass-Steagall Act as such but the existence of the central bank.

"Rothbard here is rather writing as an ideological polemicist about what thinkers are 'good for the team,' and his critiques even beyond this book often had that spirit."

"Market prices can get screwed up when the Fed tinkers with interest rates. Because of the distorted price signals, the actual real resources are invested improperly."