Free Markets

"The truth behind most of the regulations we have today is that there was already a social and cultural movement against the dangers featured in Madmen."

The Fed has essentially created the biggest shipment of currency ever, but the crippled banking system hasn't yet delivered it to our prison camp. When it arrives, it might be handy to have some spare smokes around to trade with.

To support his view that a market economy can effectively wage modern war, Mises advances a surprising claim about the early part of World War II.

The right path to healthcare reform is the market path (no subsidies, no monopolies such as drug patents, no licensure, no anything) that tends toward universal distribution at very low prices and relentless improvement in service. The wrong path is to make healthcare run the same way as the post office.

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.