The greatest era of capitalist development—the last two centuries—has taken place under the ongoing cultural influence of the philosophy of the Enlightenment.
In spite of all its benefits, capitalism has been furiously attacked and criticized. It is necessary that we understand the origin of this antipathy.
Economics belongs alongside mathematics, natural science, history, philosophy, and the humanities as an integral part of a liberal education.
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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 makes the science of economics necessary and important is the fact that while human life and well-being depend on the production of wealth, and the production of wealth depends on the division of labor, the division of labor does not exist or function automatically.
Passengers aren’t willing to pay for it.
Carl Menger’s Free Market Advice to an Austrian Crown Prince
A Three-Pronged Blunder, or, what Money is, and what it isn’t.
He who expects a rational economic system from socialism will be forced to re-examine his views.
The exclusion of free initiative and individual responsibility, on which the successes of private enterprise depend, constitutes the most serious menace to socialist economic organization.
Is there no way in which some kind of economic calculation might be tied up with a socialist system?
Socialism is the abolition of rational economy. There is only groping in the dark.
In the cloud-cuckoo lands of socialist fancy, roast pigeons will fly into the mouths of the comrades,with no realistic explanation of how this miracle is to take place.
Why are there still wild blueberries in the fields held in common?
Ludwig Von Mises is important because his teachings are necessary to the preservation of capitalism and thus of civilization.
“As soon as one gives up the conception of a freely established monetary price for goods of a higher order, rational production becomes completely impossible.” – Ludwig Von Mises
To use Keynesian terms, employment in the United States is not suffering from an “aggregate demand” failure. There are plenty of job openings; it is a failure of a good number of employable people not being interested in filling the slots employers would like to fill. Why?
Keynes used the “technique of obscure arguments followed by clear and triumphant conclusions.”
Though the Communist Manifesto, even in its own time, failed completely as an economic guidebook, it did succeed thoroughly in instilling class hatred. This hatred, unfortunately, has been its most permanent contribution.
Mariana Mazzucato’s and Joe Biden’s political missions and big economic central plans require all of us to give up our own individual and personal plans to be straightjacketed into their compulsory designs for us.
Menger’s Distinct Approach to Economic Thinking
One of the innumerable destructive consequences of an almost 250-year-old error in economic theory made by Adam Smith.
President Biden’s “closed shop” labor union agenda would rob all those working for a living the liberty and latitude to do so freely and of their own choosing.
There are few works in the history of economics that may be truly considered “revolutionary” and “path-breaking,” in its starting premises, its logic, and its implications. But one that is in this category is Carl Menger’s Grundsätze der Volkswirtschaftsliche, his Principles of Economics in its English translation, which marks this year the 150th anniversary of its publication in 1871.