The government may think that inflation--as a method of raising funds--is better than taxation, which is always unpopular and difficult. In many rich and great nations, legislators have often discussed, for months and months, the various forms of new taxes that were...
Ludwig Von Mises
When people talk of a "price level," they have in mind the image of a level of a liquid which goes up or down according to the increase or decrease in its quantity, but which, like a liquid in a tank, always rises evenly. But with prices, there is no such thing as a...
If the supply of caviar were as plentiful as the supply of potatoes, the price of caviar--that is, the exchange ratio between caviar and money or caviar and other commodities-would change considerably. In that case, one could obtain caviar at a much smaller...
The idea that there is a third system — between socialism and capitalism, as its supporters say — a system as far away from socialism as it is from capitalism but that retains the advantages and avoids the disadvantages of each — is pure nonsense.
Analyzing interventionism during the First World War in Germany and England.
Let us consider one example of interventionism, very popular in many countries and tried again and again by many governments, especially in times of inflation. I refer to price control. Governments usually resort to price control when they have inflated the money...
A famous, very often quoted phrase says: "That government is best, which governs least." I do not believe this to be a correct description of the functions of a good government. Government ought to do all the things for which it is needed and for which it was...
The fact is that economic calculation, and therefore all technological planning, is possible only if there are money prices, not only for consumer goods but also for the factors of production.
The socialist system, however, forbids this fundamental freedom to choose one’s own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production. One of the characteristic features of our...
In a capitalist society, there is continuous mobility—poor people becoming rich and the descendants of those rich people losing their wealth and becoming poor.
The idea of government as a paternal authority, as a guardian for everybody, is the idea of those who favor socialism.
The capitalist system was termed “capitalism” not by a friend of the system, but by an individual who considered it to be the worst of all historical systems, the greatest evil that had ever befallen mankind. That man was Karl Marx.
In spite of all its benefits, capitalism has been furiously attacked and criticized. It is necessary that we understand the origin of this antipathy.
The mere fact that you are living today is proof that capitalism has succeeded, whether or not you consider your own life very valuable.
What these self-styled “anticommunist liberals” are fighting against is not communism as such, but a communist system in which they themselves are not at the helm.
Changes in human conditions are brought about by the pioneering of the most clever and most energetic men. They take the lead and the rest of mankind follows them little by little. The innovation is first a luxury of only a few people, until by degrees it comes into the reach of the many.
The tycoon of the book market is the author of fiction for the masses.
The riches of the rich are not the cause of the poverty of anybody. The process that makes some people rich is, on the contrary, the corollary of the process that improves many peoples’ want satisfaction.
On the the social characteristics of capitalism and the psychological causes of Its vilification.
He who expects a rational economic system from socialism will be forced to re-examine his views.
Voice of Capitalism
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