Free Markets

Presented as part of the Mises Institute’s Brown Bag Seminar series on 8 May 1996 in Auburn, Alabama.

Freedom, or liberty, is the natural law that the Founders knew put us in the image of God.

In a market economy, whether it is domestic or international in scope, everyone's standard of living can rise at once.

The Social Security system has run its course. It's unfair and it's economically destructive. It's time for the program to be abolished.

If the critics are right, then Fowler Foods has missed an opportunity to turn a tidy profit by selling grilled chicken.

With the renaissance of Keynesian economics we can only conclude that the preconditions for a new super cycle have been established, and that if the policies are not reversed we face many years of depressed economic conditions.

Is there any reason a reader should place any more confidence in the work of an historian than in the work of an historical novelist? The answer is that everything depends on what historian we're talking about, what novelist we're talking about, and what kind of historical fiction we're talking about.

Fortunately, Austrian economists have shown that every product and service can be offered privately, without the use of monopoly force through government.

The free market doesn't pump up the money supply and push interest rates down to levels that promote unsustainable bubbles. The free market punishes reckless risk takers, while it is government that bails them out (and thereby encourages them to take greater risks in the future).

In holding money, its owner gains in the satisfaction of being able to meet instantly, as they unpredictably arise, the widest range of future contingencies.