U.S. Economy

Looks at causes of the 1929 crash and ensuing depression, with lessons for today. Recorded at Mises University 2010.

"Within the Misesian-Hayekian framework, the only permanent solution to existing malinvestment is to allow its liquidation and the readaptation of the structure of production."

The exercise of arbitrary or dictatorial power is, of course, the whole purpose and function of all those agencies, commissions, and czars.

"Even mainstream economists recognize the role that price discrimination can play in allowing producers and consumers to exploit potential gains from trade."

Tom Kowitz and Michele Gaudin of WGSO 990AM, New Orleans, interview Professor Walter Block, 17 July 2010.

I cannot agree with Professor Krugman's statement that the Austrian business-cycle theory is not "worthy of serious study."

And yet every day, young people are finding ways around these preposterous restrictions that are hardly ever questioned, imbibing with their booze a disdain for the law and a creative spirit of criminality, along with a disposition to binge drink when their legal workarounds succeed.

"New York City taxicab licenses are strictly limited in number — so much so, that they have been sold for as much as $30,000. This effectively bars the poor from entering the field as owners."

The job applications pour in by the buckets, all padded with degrees and made to look as impressive as possible. It’s all just paper.

On the other hand, you can spend your life refusing to straighten ties because you aren't paid enough to do that. That person will never be paid to do anything.