Mises Search

Paul Krugman writes in the New York Times , April 7 that there is a world food shortage, accompanied by skyrocketing prices. Because of this, poor people in Africa and other places are starving. He suggests that this has come about mostly for these reasons: new food demand by China the high price of oil bad weather in important farming areas

It is a common assumption in today’s world that capitalism is, at best, out of control and, at worst, outright evil. Everyone knows that it causes most of our financial, economic, and social problems, and that we need a referee — the government — to make sure that all is fair and that we innocent citizens are not taken advantage of by predatory

[From The Case for Legalizing Capitalism ] Socialists commonly cite the existence of the poor as a reason for socialism, and they claim that their concern for the poor shows compassion and morality. Since the topic of poverty is a key battleground in the war of socialism versus capitalism, it is relevant to examine what poverty is, how much of it

[An MP3 audio file of this article, narrated by Keith Hocker, is available for download .] “A growing economy consists of prices falling, not rising.” The stock market does not work the way most people think. A commonly held belief — on Main Street as well as on Wall Street — is that a stock-market boom is the reflection of a progressing economy:

[From The Case for Legalizing Capitalism ] Having learned that the government acts in ways detrimental to its citizens economically, and by causing wars, we should ask exactly why we support our politicians, why we support most of our military operations, and why we support our very national identity. In short, we should ask ourselves why we are

“Citizens, in the end, are “helped” by having been given unemployment, higher prices, fewer savings, and an uncertain future.” The word “politician” usually comes with a negative connotation. It often brings to mind thieving, lying, corruption, and malfeasance. Nonetheless, most people seem to look to politicians to manage their world for them, to

The economic and business community constantly attempts to forecast the effects of various economic changes and government policies on corporate profits. But both the cause and effect of increasing profits are other than what most people imagine. It will therefore be helpful to gain a concrete understanding of what profits do and do not represent.

This topic needs no introduction. We hear discussions in the national media weekly about the possible threat an economically resurgent China poses to the United States — and even to other countries. So how concerned should we really be about China’s economic and military might? Answer: China’s economic development itself is not in any way harmful

Throughout the last year, European debt problems have been cited as a threat to both the euro and to the American economy, among other entities. While many correct assertions have been made concerning the potential impact of a European debt implosion, there have also been many ill-conceived ones. It is often faulty economic theory that leads to

The AMA Monopoly   While most people believe that our healthcare industry is one comprised of free markets, it is anything but. The industry is completely distorted by government manipulation. [1] To start with, the American Medical Association (AMA) has had a government-granted monopoly on the healthcare system for over 100 years. It has