Mises Daily

Murray Rothbard explains money in his book The Mystery of Banking. The purchasing power of the dollar varies inversely with the supply of dollars, and directly with the demand. 

The radicals are for anything that tends directly or indirectly to get the government into business, for that leads to state ownership of the means of production.

What has happened here, and elsewhere, is that Mises has strayed off his great stomping ground, praxeology, and into ethics, where he is, Rothbard believes, tragically wrong.

"In order to succeed, human action must comply not only with what are called the laws of nature, but also with specific laws of human action."

The people of the USSR rightly considered Gorbachev to be just another Communist Party hack. His "reforms" were only expedient measures designed to preserve communism. 

What is taught under the label of economics at universities nowadays is practically a denial of economics.

Economic calculation requires a monetary system that is not sabotaged by government interference.

Praxeology and economics have a definite place in the evolution of human history and in the process of scientific research.

"As long as pseudophilosophies retain their undeserved prestige, the average intellectual will go on blaming capitalism for all the disastrous effects of anticapitalist schemes and devices."

"All of Keynesian thinking is a tissue of distortions, fallacies, and drastically unrealistic assumptions."