Free Markets

It is clear to see that government-mandated treatment cannot possibly lead to a more cost-effective balance between preventive treatment and future treatment.

These changes do not affect at the same time and to the same extent the prices of the various commodities and services. They consequently affect the wealth of the various members of society in different ways.

The system of voluntary exchange and experimentation based on secure private-property rights—what we loosely call "capitalism"—expands rather than restricts our material and nonmaterial opportunities.

If new capital is the direct product of government spending or the indirect result of its fiscal policy, we are all worse off.

The more entrepreneurs can engage in peaceful and coordinating actions that try to satisfy demands of consumers, the less likely war is made.

Our talks today were in the Chapter room where Francisco Vitoria taught and the professors of the 15th and 16th centuries gave papers for each other before their public presentations at the university.

Obviously, the free movement proviso is a far-reaching restriction of the property right of route owners as it would be defined according to the "freedom as property" conception, but it is not an arbitrary restriction — in fact, it is rooted the idea of freedom, which is, or should be, the supreme libertarian value.

Given that we have rising unemployment, a reduction in minimum-wage rates might bring relief to some unemployed workers.

"Without the historical act of saving, which is now embodied in capital goods, there would be no economy at all."

"The marginal cost of downloads is approaching zero. The access is approaching universal. The capacity for copying is infinite. And the results are everlasting."