Mises's great insight was that economic reasoning has its foundation in just this understanding of action; and that the status of economics as a sort of applied logic derives from the status of the action-axiom as an a priori-true synthetic proposition.
The liberal looks with increasing favor upon the socialization of industry, or as it is sometimes called, the democratization of industry. The radical keeps pointing out that while this is all very well in its way, monopoly values will as inevitably devour socialized industry as they now devour what the liberals call capitalistic industry.
Against this, there seems little reason to place more confidence in international bureaucrats than their national counterparts; and steps to centralized power have historically been inimical to liberty.
No subject is so much discussed today — or so little understood — as inflation.
Markets make more people fit rather than triggering a "dog eat dog" fight for survival. Private property prevents the law of the jungle rather than enabling it.
Communism is extreme socialism; socialism is extreme statism.
Even if the claims about the alleged crisis in manufacturing were true, the ultimate response is a big "So what?" There is nothing sacrosanct about manufacturing jobs.
