Free Markets

To the common sense of these women a program of low prices will make a strong appeal.

From the standpoint of both politics and history, this proof [of the "impossibility" of socialist planning] is certainly the most important discovery by economic theory.

In sum, the "change" that Obama promised his mesmerized supporters in the election campaign, and is now in process of actually delivering, is nothing more than change from dumb to dumber and from bad to worse.

Regardless of mantras of change, politics is unlikely to change unless President Obama heeds the lessons learned from the inaugural ceremony. His first move should be a drastic reduction in the government's size and scope.

"Desocialize credit risk and let the bank runs take their toll."

Government efforts to stimulate entrepreneurship and startup companies, and to spur job growth, are not only detrimental to market participants but to the startup companies themselves.

The reason for this is that all production, including any new and additional production called into being by stimulus packages, itself entails consumption. And this consumption tends at the very least to approximate the fresh production and, indeed, is capable of equaling or even exceeding it.

Studying Jörg Guido Hülsmann’s latest book, The Ethics of Money Production, is a vastly enriching experience.

Murray Rothbard was more aware than anyone of the ongoing evils perpetrated by government and he was never given the proper recognition in academia. But he was constantly happy and loved to laugh. Now I know Murray wasn't a joyous libertarian by himself; he had help from his smart, wickedly funny best friend Burt.

The amazing fact is that the great majority of British people are not yet consciously aware that they are living in a very severe economic crisis.