Mises Daily

In ancient Athens, “the individual was much more subservient to the supremacy of the social body...than he is in any of the free states of Europe today.”

In The Theory of Money and Credit, Mises provided the basics for the long-sought explanation for that mysterious and troubling economic phenomenon—the business cycle.

To swing a political debate in favor of the state, all it takes is a crisis, either real or imagined. The masses will then abandon whatever resistance they had to the state's latest interventions.

The introduction of Obamacare was only the natural evolution of many decades of increasing state control of the healthcare industry.

Tracy's deductive methodology, his liberal approach to governmental affairs, and his subjectivism qualify him as a proto-Austrian economist who enjoyed considerable influence not only in France but also around the world.

Raico stresses that there was another tradition within classical-liberal thought, one that recognized the interdependence between religion and liberty.

Hayek’s last proposal for monetary reform calls for privately issued, competing fiat currencies. It's debatable whether or not this is a good idea.

Sumner is wrongly accused of being a "social Darwinist." Indeed, there is considerable evidence that the entire concept of "social Darwinism" as we know it today was virtually invented decades after Sumner's death.

It is ideas that determine what people consider as their interests. Free men do not act in accordance with their interests. They act in accordance with what they believe furthers their interests.

It is theoretically conceivable but scarcely likely that the ruling class will rush to embrace a philosophy and a political economy that will end their power and put them, in effect, out of business.