Mises Wire

In contrast to the classical cost (labor) theory of value, the so-called marginal revolution ushered in the modern, subjective theory, whereby market price is determined by the marginal utility of a good.

When the state interferes with the market in order to bring about a different use of the productive factors it can only impair the supply, it cannot improve it.

To adopt a Rawlsian account of justice, you have to accept democratic participation in a strong sense. For Rawls, the people in a society must decide political questions together.

Liberalism in the tradition of Mises and Hayek will not solve the problems of human nature, but it can help to establish a social system in which humans can live peacefully with material prosperity.

Many of the "solutions" peddled by today's experts are more likely to increase wealth inequality than decrease it.

Given the overt hostility that progressives have toward private enterprise in the first place, politicians will take shutdown-caused shortages and empty shelves as “proof” that private enterprise has failed.

The secessionist view is now increasingly being promoted by writers outside the usual conservative and libertarian groups that have long advocated in favor of decentralization and local control.

The present fascination with socialism and hatred of capitalism reflects a combination of willful historical blindness, lack of simple common sense, and inexcusable economic ignorance.

The film Black Panther offered an attractive view of an African nation untouched by slavery or colonialism. Unfortunately, the film offers a rather dubious counterfactual.

It is through action that our subjective valuations become measurable in objective reality. This is why the action axiom is an irreplaceable launch pad for economic thinking.