“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
Today’s politicians want to spend more on EVERYTHING: Amtrak subsidies, sports stadium subsidies, green energy subsidies, even fossil fuel subsidies …
If we want to build economies back for continual growth and prosperity, we need the government to unchain businesses and set them free to produce again.
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Because a politically connected businessmen wants more for himself, and politicians have the power to demand that developers kiss their rings, Edgewater’s dump is still a dump.
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.
Government handouts encourage dependence and create labor shortages.
The existence of freedom under laissez-faire capitalism requires the existence of government.
The greatest era of capitalist development—the last two centuries—has taken place under the ongoing cultural influence of the philosophy of the Enlightenment.
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.
We should not only allow global capitalism; we should welcome it and foster it in every way possible. It is time to rephrase Karl Marx: Workers of the world unite for global capitalism; you have nothing to lose but your poverty.
Economics belongs alongside mathematics, natural science, history, philosophy, and the humanities as an integral part of a liberal education.
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.
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.
Why CEOs go “woke”—and why they shouldn’t.
Menger’s Distinct Approach to Economic Thinking
“Poetry of work” is worth pursuing. It gives us purpose—and it gives us happiness.
One of the innumerable destructive consequences of an almost 250-year-old error in economic theory made by Adam Smith.
The false standard of equity leads to bad outcomes for everyone. The standard should not be equity but justice.
The Hazards of Embracing Environmental, Social and Governance (ESG) Goals
Socialist experiments failed in Sweden, Israel, India, Great Britain, Afghanistan, Syria, Algeria, Cambodia, Somalia, etc. There are no socialist success stories.
If history (especially more recent history) is a guide, U.S. equity gains over the next two years of full Democratic control will be inferior, a result that is more probable given that the party is currently more anti-business, anti-profit, and anti-capitalist than at any other time since 1970.
Producing and consuming fast fashion and other sweatshop products is a win-win scenario for human flourishing: consumers get inexpensive products, workers and their employers prosper, working conditions improve and pollution diminishes, the planet gets greener, and the brands profit.
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.
Whenever accusations of “bubbles” are thrown about, I think of these extraordinary stories and the grand selection mechanism that is financial markets.