Ludwig von Mises Institute
Mises Daily : Mises Institute on Austrian Economics and Libertarianism
Updated: 54 min 33 sec ago
The economic success of the West and of free economies everywhere stems from the acceptance within many societies (to varying degrees) that individuals are all equal in the right to own property and exercise freedom from the collective. States, on the other hand, claim a special and exalted position within society.
Many people see economics as a dry, technical subject. But economics is a logical, deductive, human science about real people acting in the real world, with all the dynamism, unpredictability, and creativity that entails. Markets aren’t static, lifeless mathematical constructs but lively, vigorous spaces where people interact and coordinate.
David Gordon discusses Fritz Machlup’s interpretation of Mises vs. Rothbard.
The Fed has painted itself into a corner. There is no way that the nation can avoid either a recession or the collapse of the value of the dollar. We should prefer the recession, then insist on an end to monetary expansion, regardless of the howls from the politicians.
Income inequality has been called “the defining challenge of our time,” and it is generally made worse by government policies.
Ron Paul is in good company with Cobden, Mencken, Sumner, and the American Anti-Imperialist League — all oppose government militarism.