He who expects a rational economic system from socialism will be forced to re-examine his views.
Economics
The Economics of Socialism (Part 4)
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.
The Economics of Socialism, Part 3
Is there no way in which some kind of economic calculation might be tied up with a socialist system?
Voice of Capitalism
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The Economics of Socialism, Part 2
Socialism is the abolition of rational economy. There is only groping in the dark.
The Economics of Socialism, Part 1
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.
The “Fortune of the Commons”
Why are there still wild blueberries in the fields held in common?
Ludwig von Mises: Defender of Capitalism
Ludwig Von Mises is important because his teachings are necessary to the preservation of capitalism and thus of civilization.
The Inevitable Failure of Socialism
“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
Paying People Not to Work: Labor Shortage Is a Government-Contrived Scarcity
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?
The Intellectual Assault on Economic Activity and Capitalism, Part 2 of 2
Economics proves the existence of a harmony of the rational self-interests of all participants in the economic system—a harmony which permeates the institutions of private ownership of the means of production, economic inequality, and economic competition.
The Intellectual Assault on Economic Activity and Capitalism, Part 1 of 2
Capitalism is denounced as “an anarchy of production,” a chaos ruled by “exploiters,” “robber barons,” and “profiteers,” who “coldly,” “calculatingly,” “heartlessly,” and “greedily” consume the efforts and destroy the lives of the broad masses of average, innocent people.
Henry Hazlitt and the Failure of Keynesian Economics
Keynes used the “technique of obscure arguments followed by clear and triumphant conclusions.”
Capitalism and the Economic History of the United States
The development of all the institutional features of capitalism is well illustrated by the economic history of the United States.
Capitalism and the Origin of Economic Institutions
Economic progress is the leading manifestation of yet another major institutional feature of capitalism: the harmony of the rational self-interests of all men, in which the success of each promotes the well-being of all.
Capitalism and Freedom Require Government
The existence of freedom under laissez-faire capitalism requires the existence of government.
The Philosophical Foundations of Capitalism
The greatest era of capitalist development—the last two centuries—has taken place under the ongoing cultural influence of the philosophy of the Enlightenment.
The Legacy of Karl Marx
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.
Capitalism: The Nature and Importance of Economics
Economics belongs alongside mathematics, natural science, history, philosophy, and the humanities as an integral part of a liberal education.
Saving Capitalism From The “Big” State
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.
Capitalism: Economics, the Division of Labor, and the Survival of Material Civilization
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.
Carl Menger’s Theory of Institutions and Market Processes
Menger’s Distinct Approach to Economic Thinking
Class Harmony, Not Class War
One of the innumerable destructive consequences of an almost 250-year-old error in economic theory made by Adam Smith.
President Biden’s Push To Force Workers To Join Unions
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.
Who is Carl Menger?
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.