‘Austrian Economics’ Archives
Ludwig von Mises on Socialism, Part Two
Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state. ~ Ludwig von Mises In the second part of his lecture on Socialism in Buenos Aires in 1958, Ludwig von Mises makes an obvious statement, but startling to most critics of capitalism, "In the market economy, everyone [...]
The Death Of Politics by Karl Hess
I do not usually post other's works but this is too good not to post. It was originally published in 1969. I found it at Faré's Home Page This is not a time of radical, revolutionary politics. Not yet. Unrest, riot, dissent and chaos notwithstanding, today's politics is reactionary. Both left and right are reactionary and [...]
Gold Keeps Governments Honest and Preserves Peace
“War is never economically beneficial except for those in position to profit from war expenditures.” ~Ron Paul Many people who agree with Ron Paul on other issues do not understand his enthusiasm for gold and sound money. Nor do they understand why he spends so much time studying and talking about monetary policy and the part gold used [...]
Ludwig von Mises on Socialism, Part One
"Freedom really means the freedom to make mistakes." ~Ludwig von Mises Ludwig von Mises began his second lecture in Buenos Aires on socialism, asking the question, "What does this system of economic freedom mean?" To him, it was obvious; it was the market economy. The market economy was a process in which individuals cooperated in the [...]
Anarchy And The Free-Market: Yes, I’m An Anarcho-Capitalist
"I define anarchist society as one where there is no legal possibility for coercive aggression against the person or property of any individual." ~Murray Rothbard I started out as a conservative, then rediscovered my libertarian leanings and began calling myself a classical liberal. While definitely a minority position, it has some [...]
Ludwig von Mises on Capitalism
"Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters." ~Ludwig von Mises What in the hell is wrong with capitalism? I am sick to death of people blaming it for all the problems in the world. It's responsible for greed. Oh really? There was no greed before [...]
ObamaCare: Unanswered Questions and Ignored Answers
"The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups." ~Henry Hazlett Too many times we pick a policy for what it promises to do and not think through the means to that end or [...]
Health Care, The New Bread
"… Already long ago, from when we sold our vote to no man, the People have abdicated our duties; for the People who once upon a time handed out military command, high civil office, legions — everything, now restrains itself and anxiously hopes for just two things: bread and circuses" ~Juvenal Bread and Circuses; Panem et Circenses; [...]
Inclined To Liberty by Louis Carabini
Inclined to Liberty is a short primer on liberty and the free market. Louis Carabini introduces his book by telling how a dinner with a friend and two professors sympathetic to socialism, and even Marxism, inspired him to write his reflections on that evening’s discussion. The discussion of the class struggle between owners and workers reminded [...]
TANSTAAFL: Nothun’s Free From The Government, Damn It!
A few days ago a friend of mine told me, that in her country they get free education and health care. HAHAHA! TANSTAAFL! TANSTAAFL! TANSTAAFL! To give my friend credit, she did understand that "the people" of this wondrous country "give money to the government," and then they get all those wonderful benefits. That's at least [...]
Left and Right, Protecting the People and Big Business Like Mussolini
What Michael Moore and every one is so upset about is NOT laissez-faire free market Capitalism. It's fascism, otherwise known as "corporatism" as Mussolini wrote. The government controls privately owned businesses and "protects" them and the people, while keeping the independent small businesses from competing with the big corporations. The [...]
On Government Stimulus Programs To Spur Economic Growth In Plain Language
I've been pretty pessimistic about the government lately and on the advice of my councilor (he’s really the school councilor I used to eat with), I’m going to be positive today. He told me that I should see the glass as half full not half empty. What can I say, I get what I pay for. Anyway, I read from a Republican in [...]
Dear Senator Inouye, Senator Akaka, and Representative Abercrombie
RE: The Health Care "Please oppose increased government involvement in health care. Please work to reduce government involvement in health care."Dear Senator Inouye, Senator Akaka, and Representative Abercrombie, I don't even know why I bother doing this, because I know and you know that this little game we're playing is a worthless [...]
Blogging Meltdown – Culprit 5: The Federal Reserve and Artificially Cheap Credit
After explaining the preceding four culprits: 1) Fannie Mae and Freddie Mac, 2) The Community Reinvestment Act and affirmative action in lending, 3) The government's artificial stimulus to speculation, and 4) The "pro-ownership" tax code, Dr. Woods gets to the major culprit, the Federal Reserve and artificially cheap credit. The previous four [...]
Blogging: Gold: The Once and Future Money – Hard Money and Soft Money, Part 1
Currencies and Economies around the World - from the Seventh Century BC to the Twenty-First Century AD "After experience had shown that pieces of paper, of no intrinsic value, by merely bearing upon them the written profession of being equivalent to a certain number of francs, dollars, or pounds, could be made to circulate as such, and to produce [...]
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