Free Markets

At no point in his speech did Mr. Dudley raise the possibility that the main source of asset bubbles could be the US central bank itself.

Prices and wages as determined in a free market, unrigged by political intervention, are the best means of insuring the production and equitable distribution of the goods and services all men seek.

Only the Austrian School can explain how the central bank causes boom – bust cycles, and why "stimulus" deficit spending only makes things worse.

"The products of our schools, for the most part, are incompetent to think and act intelligently, honestly, and bravely in this difficult era."

The individual is always ready to ascribe his good luck to his own efficiency…. But reverses of fortune he always charges to other people…."

These advocates of a "mixed economy," well meaning and sincere though they may be, fail to realize that there can be no such thing as a "mixed economy" — part capitalistic and part socialist. Production is directed either by the market or by a National Production Authority.

"The protectionists speak of trade with the contempt of feudal nobles, but on examination it appears that they have something to sell, and that they mean to denounce trade with their rivals."

For even if it is shown that violent video games lead to more crime, the case for government intervention is complicated by measurement issues, concerns over personal liberty and personal privacy, and the tendency for regulation to lead to ever more regulation.

The purpose of the Property and Freedom Society is to promote the scientific debate of the politically relevant questions of our time without regard to the concerns of party politics.

"Interventionism is not an economic system, that is, it is not a method which enables people to achieve their aims. It is merely a system of procedures which disturb and eventually destroy the market economy. It hampers production and impairs satisfaction of needs. It does not make people richer; it makes people poorer."