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[This article is excerpted from chapter 17 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .]   The governments of almost all countries are engaged in a campaign against the capitalists. They are intent upon expropriating them by means of taxation and monetary measures. The capitalists are eager to protect their property by

[This article is excerpted from chapter 17 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .]   The governments of almost all countries are engaged in a campaign against the capitalists. They are intent upon expropriating them by means of taxation and monetary measures. The capitalists are eager to protect their property by

[Bettina Bien-Greaves has given the Mises Institute a treasure trove of items from Mises’s own personal belongings that had been handed on to her, among which was a long-playing record, recorded as a radio broadcast made during intermission of the US Steel Concert Hour, May 17, 1962. An MP3 of this recording is available in Mises Media .]   Q: Are

[This article is excerpted from chapter 17 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .]   A very popular doctrine maintains that progressive lowering of the monetary unit’s purchasing power played a decisive role in historical evolution. It is asserted that mankind would not have reached its present state of well-being

[This article is excerpted from chapter 17 of Human Action . ] Men have chosen the precious metals gold and silver for the money service on account of their mineralogical, physical, and chemical features. The use of money in a market economy is a praxeologically necessary fact. That gold—and not something else—is used as money is merely a

[This article is excerpted from chapter 17 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .] The international gold standard works without any action on the part of governments. It is effective, real cooperation of all members of the world-embracing market economy. There is no need for any government to interfere in order to

[This article is excerpted from chapter 18 of Human Action ] If one were to measure the length of the period of production spent in the fabrication of the various goods available now, one would have to trace back their history to the point at which the first expenditure of original factors of production took place. One would have to establish when

[This article is excerpted from chapter 18 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .]   Every part of economics is open to intentional misrepresentation and misinterpretation on the part of people eager to excuse or to justify fallacious doctrines underlying their party programs. To prevent such misuse as far as

[This article is excerpted from chapter 20 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .]   A drop in the gross market rate of interest affects the entrepreneur’s calculation concerning the chances of the profitability of projects considered. Along with the prices of the material factors of production, wage rates, and the

[From The Theory of Money and Credit (1912)] The events of recent years reopen questions that have long been regarded as closed. The question of the freedom of the banks is one of these. It is no longer possible to consider it completely settled as it must have been considered for decades now. Unfortunate experiences with banknotes that had become