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BlogMarch 11, 2015

For those of you who prefer to follow our content via RSS feed, it is now online and available here: http://mises.org/feed/blog.rss

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The Anti-Capitalistic Mentality

BooksJuly 20, 2005
In 1954, after a lifetime of serious theoretical work in economic science, Mises turned his attention to one of the great puzzles of all time: discovering why the intellectuals hate capitalism.

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The Moral Case for the Free Market Economy

BooksJuly 6, 2006
Tibor Machan makes the case for the free market system of economics based on the view of human beings as moral agents with the legal system of a good community as designed to nurture this moral agency.

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The New Despotism

BooksMarch 16, 2010
When the modern political community was being shaped at the end of the 18th century, its founders thought that the consequences of republican or representative institutions in government would be the reduction of political power in individual lives.

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Labor Monopolies or Freedom

BooksJune 15, 2009
Labor unions are today the sacred cows. Most writers and speakers are afraid to expose the anti-social tendencies of organized labor, for if they do so, they know they themselves will be denounced as fascists, anti-labor, labor baiters, and reactionaries.

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The Myth of a Guilty Nation

BooksAugust 11, 2011
This is Albert Jay Nock's first great anti-war book, a cause he backed his entire life as an essential component of a libertarian outlook...

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The Return to Laisser Faire

BooksJune 5, 2009
Government means, or should mean, the right ordering of all. Modern government has degenerated into tinkering with the wants or rights or liberties of classes or sections or groups, and it is rare, in these days, to hear a political discussion which takes adequate account of the interests of the...

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How to Keep Our Liberty

BooksJuly 17, 2009
"Individualities may form communities, but it is institutions alone that can create a nation." This was a comment by Benjamin Disraeli a century ago when he was beginning the task of building the Conservative Party, a party that still lives a lusty, constructive life...

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The School of Salamanca

BooksJune 11, 2009
The thinkers of the Salamanca School were pro-market, pro-hard money, anti-state in many ways, pro-property, and pro-merchant to a surprising extent. Their theoretical orientation was subjectivist, marginalist, and process oriented. In other words, the Salamanca School represented a kind of proto-...

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The De Moneta of Nicholas Oresme and English Mint Documents

BooksFebruary 14, 2009
Nicole Oresme has been called the most brilliant scientist of the 14th century: mathematician, musicologist, physicist, philosopher, and economist. On top of that, he was a Bishop and a theologian. His writings of money bear much in common with Carl Menger. Oresme's treatise on money, De Moneta...

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4. Anti-Marxism and Science

Online Text Page from A Critique of Interventionism, Ch. Anti-Marxism

Anti-Marxism fully subscribes to Marxism’s hostility towards capitalism. And it resents Marxism’s political pro­gram, especially its presumed internationalism and pacifism. But resentment does not lend itself to scientific work, or even to politics. At best it lends itself to demagoguery.

2. National (Anti-Marxian) Socialism

Online Text Page from A Critique of Interventionism, Ch. Anti-Marxism

Marxian socialism is beckoning: “Class war, not national war!” It is proclaiming: “Never again [imperialistic] war.” But it is adding in thought: “Civil war forever, revolution.”

3. Sombart as Marxist and Anti-Marxist

Online Text Page from A Critique of Interventionism, Ch. Anti-Marxism

Werner Sombart himself proudly confessed that he gave a good part of his life to fight for Marx.23 It was Sombart, not the wretched pedants of the ilk of Kautsky and Bernstein, who introduced Marx to German science and familiarized German thought with Marxist doctrines. Even the structure of Sombart’s main work, Modern Capitalism, is Marxian.

2. Direct Effects of Intervention on Utility

Online Text Page from Power and Market: Government and the Economy, Ch. 2. Fundamentals of Intervention

A. INTERVENTION AND CONFLICT

The first step in analyzing intervention is to contrast the direct effect on the utilities of the participants, with the effect of a free society. When people are free to act, they will always act in a way that they believe will maximize their utility, i.e., will raise them to the highest possible position on their value scale. Their utility ex ante will be maximized, provided we take care to interpret “utility” in an ordinal rather than a cardinal manner.

Does Wal-Mart Destroy Communities?

Mises DailyMay 1, 2004
We have heard all the claims 10,000 times, and here William Anderson deals with the main ones.

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2. Implicit Moralizing: The Failures of Welfare Economics

Online Text Page from Power and Market: Government and the Economy, Ch. 7. Conclusion: Economics and Public Policy

As we have reiterated, economics cannot by itself establish ethical judgments, and it can and should be developed in a Wertfrei manner. This is true whether we adopt the modern disjunction between fact and value, or whether we adhere to the classical philosophical tradition that there can be a “science of ethics.” For even if there can be, economics may not by itself establish it.

2. Knowledge of Self-Interest: An Alleged Critical Assumption

Online Text Page from Power and Market: Government and the Economy, Ch. 6. Antimarket Ethics: A Praxeological Critique

This criticism of the market is more existential than ethical. It is the popular argument that laissez faire, or the free-market economy, rests its case on the crucial assumption that every individual knows his own self-interest best. Yet, it is charged, this is not true of many individuals. Therefore, the State must intervene, and the case for the free market is vitiated.

7. Alleged Joys of the Society of Status

Online Text Page from Power and Market: Government and the Economy, Ch. 6. Antimarket Ethics: A Praxeological Critique

One common related criticism of the free market and free society (particularly among intellectuals who are conspicuously not craftsmen or peasants) is that, in contrast to the Happy Craftsmen and Happy Peasants of the Middle Ages, it has “alienated” man from his work and from his fellows and has robbed him of his “sense of belonging.” The status society of the Middle Ages is looked back upon as a Golden Age, when everyone was sure of his station in life, when craftsmen made the whole shoe instead of just contributing to part of its production, and when these

5. The Incidence and Effects of Taxation Part III: The Progressive Tax

Online Text Page from Power and Market: Government and the Economy, Ch. 4. Binary Intervention: Taxation

Of all the patterns of tax distribution, the progressive tax has generated the most controversy. In the case of the progressive tax, the conservative economists who oppose it have taken the offensive, for even its advocates must grudgingly admit that the progressive tax lowers incentives and productivity. Hence, the most ardent champions of the progressive tax on “equity” grounds admit that the degree and intensity of progression must be limited by considerations of productivity.

1. Economics: Its Nature and Its Uses

Online Text Page from Power and Market: Government and the Economy, Ch. 7. Conclusion: Economics and Public Policy

ECONOMICS PROVIDES US WITH TRUE laws, of the type if A, then B, then C, etc. Some of these laws are true all the time, i.e., A always holds (the law of diminishing marginal utility, time preference, etc.). Others require A to be established as true before the consequents can be affirmed in practice. The person who identifies economic laws in practice and uses them to explain complex economic fact is, then, acting as an economic historian rather than as an economic theorist.