General Dwight D. Eisenhower, chief among the naysayers, said, “I was against (use of the atomic bomb) on two counts. First, the Japanese were ready to surrender and it wasn’t necessary to hit them with that awful thing."
It is not true that capital — once created — will lead to future wealth gains forever into the future. Only constant adaptation — via entrepreneurs — can make sure that the production process will provide the flow of consumption goods in the periods to come.
We think the state is taking only our money, but it is also taking our time.
The destruction of sound money over the past century stems from actions at the federal level, but there are steps which states can take — and even have already taken — to move toward sound money.
Because food was so scarce, milk required a doctor's prescription and the government initiated a public awareness campaign about the dangers of overeating.
History never quite repeats itself, but we can look for echoes of depressions from the 1920 and 1930s. Indeed, our current bubble shares some characteristics with bubbles of the past.
The Austrians have long argued that equilibrium models of economic phenomena cannot capture the causal, realistic aspect of human behavior.&nb
We don’t oppose the state’s wars because they’ll be counterproductive or overextend the state’s forces. We oppose them because mass murder based on lies can never be morally acceptable.
Today both Mises and Rothbard are better known around the world than their long-forgotten contemporaries. Why is that?
The biggest “success” of the ECB has been the massive bailout of governments at the expense of savers.
