Media and Culture

"People must fight for something that they want to achieve, not simply reject an evil, however bad it may be."

Austrians offer a distinct and valuable approach to basic economic questions, an approach that should be central to research on theoretical and applied topics in economics and business administration.

Mises is one of the greatest men who ever lived for his insights into what he called "human action."

He offers a Kantian justification for political economy in the style of Buchanan; and he maintains that this view of things is at the root of the American Republic. Readers of a libertarian bent will not be fully satisfied; but Roth's carefully argued book deserves, and rewards, close study.

"The book takes the position that the most interesting problems of economic organization relate to the intersection of the entrepreneurial and capitalist functions."

"The financial burdens of hegemony are difficult to overestimate. "

"Without the capital accumulation of modern capitalism, people would not be living from paycheck to paycheck as workers, but from harvest to harvest as peasants."

The constitutional arrangement is far from perfect. But, at least if its provisions are obeyed, there is a barrier imposed on arbitrary and secret rule by one person.

The lesson of Mises and Hayek is clear: there is no substitute for the private ownership. Without it, economic calculation in a modern economy cannot take place.