Mises Daily

Any profitable inquiry into the character of the American State must therefore take into account the distinction between making a living by production and gaining a living by predation; that is, between economics and politics.

The characteristic principle of capitalism is that it is mass production to supply the masses. Big business serves the many.

Here are six common myths often heard about libertarianism.

There is no other means to attain full employment, rising real wage rates and a high standard of living for the common man than private initiative and free enterprise.

Liberalism has many meanings, but I wish to maintain that the most authentic form of liberalism has been concerned above all with two things: the expansion of a free functioning civil society and the restriction of the activity of the state.

"The problems of poor relief are problems of the arrangement of consumption, not of the arrangement of production activities."

The vocational economist is dedicated to a body of ideas — not merely money, fame, or power — and strives to master the system of economic theory as handed down by the great system builders and innovators of the past. 

The workers were never enthusiastic about socialism. Socialism was brought to the masses by intellectuals of bourgeois background, dining and wining together in the luxurious London homes and country seats of late Victorian "society."

The praxeological method was the basic method of the earlier Austrian school and also of a considerable segment of the older classical school.

Mises's fundamental accomplishment was to take the theory of marginal utility and apply it to the demand for and the value, or the price, of money.