Successful entrepreneurial strategy incorporates learning of all types from trial and error. What other choice is there for entrepreneurs, since they are not omniscient or omnipresent in market processes?
As money loses its purchasing power, income and wealth are stealthily redistributed. Some individuals and groups of people are enriched at the expense of others.
Axel Kaiser writes that Chileans’ “advantage is due to an historical accident, which is now coming to an end” and predicted that “Chile will show, in the coming years, that it is nothing more than any other Latin-American country.”
Once upon a time, the president was expected to pay for parties and public relations out of his own pocket. Now we have the Office of the First Lady, so taxpayers can now pay her staff to plan opulent parties for wealthy donors and powerful politicians at the White House.
Our monetary system, combined with interventionist state policies, causes mass overconsumption, the destruction of wealth, capital consumption, and the destruction of nature.
As dismissive as many of us would like to be toward Marx’s thoroughly debunked labor theory of value, it still holds currency among today’s budding socialists.
Politicians are very proud when they can say a proposed program is "paid for." But this only means they've identified their intended victims ahead of time. Naming who will be plundered does not justify plunder.
The American Left used to argue that we needed higher taxes on the rich so they would "pay their fair share." Nowadays, they are arguing that billionaires shouldn't exist at all.
Hazlitt and all of the other critics of Keynes never did get to the primary points with respect to what was wrong with Keynes. One point was theoretical. The other was practical.
The Mises Institute’s message has not changed since our founding in 1982. Please join us as we forge ahead, fight for truth, and teach tomorrow’s intellectual leaders.
