The Market Economy as Affected by the Recurrence of the Trade Cycle
People rebel against the insight that the malinvestment and overconsumption of the boom period are the cause of the bust.
People rebel against the insight that the malinvestment and overconsumption of the boom period are the cause of the bust.
The truth of the matter is that, far from causing starvation and famines, it is the speculator who prevents them.
To put it differently, morally significant action has to be freely chosen, not mere proper behavior.
Rothbard was a man of great achievement and immense scholarship, an indefatigable worker, and the most significant anarchist writer then living — i
If the dictator invests more and thus curtails the means available for current consumption, the people must eat less and hold their tongues.
Anyone who champions the well-being of society should especially celebrate commercial centers, stock markets, international trade, and every sector