"We cannot eradicate the past from our memories. But it is not the task of history to kindle new conflicts by reviving hatreds long since dead and by searching the archives for pretexts for new conflicts. We do not have to revenge crimes committed centuries ago by kings and conquerors; we have to build a new and better world order [i.e., the liberal market economy rooted in private property]." --Ludwig von Mises, Omnipotent Government, 1944
The good, great, and prosperous society depends on ever-widening trust among strangers. It's not blind trust -- ways to hedge against cheaters abound -- but trust is vital. It is as vital as respect for private property and privacy. Like the system of private property, the system of trust can withstand repeated assaults, but it is not invulnerable. It can crumble and fall. We deal constantly with people around the world whom we do not know (we don't even know their names) and will never meet. We're better off -- richer and more comfortable -- for it. Trust is fostered through repeat...
"The number one principle of economics...: the secret of mass consumption is mass production.... What about distribution? Here's what we know from all of human history, all of economic history. Any large increase in production is widely shared. There's no such thing as a large increase in production that only benefits a small fraction of the population. The Industrial Revolution did not just benefit factory owners. The internet did not just benefit computer programmers. Vaccines do not just benefit pharmaceutical companies.... You really should not just focus on distribution; [you should]...
Contrary to accepted doctrine, we have no grounds for regarding so-called economic liberties as less important or less worthy of protection than so-called personal, or civil, liberties. That's because we have no essential grounds for distinguishing so-called economic ends from so-called personal ends. (Let's dispense with the "so-called" qualifier for the sake of fluency.) Each of us pursues ends, full stop. Our ends vary widely in content and time required for accomplishment. Some are achieved quickly; others require prolonged effort and can be called projects. Some directly involve...
In the video "How Capitalism Makes You Less Free," self-described Marxist Grace Blakeley, author of Vulture Capitalism: Corporate Crimes, Backdoor Bailouts and the Death of Freedom, boldly asserts that all societies must have some kind of economic planning. That's hardly news in 2024. Free-market liberals, or libertarians, have long taught that the issue is not planning versus no planning but who plans: free profit-motivated, consumer-oriented individuals independent of the state and other coercion or force-wielding centralized bureaucrats and their cronies, with or without democratic...
This is how some people think: Business has long used the government to gain benefits it could not get in the marketplace. I have the cure for that: Abolish the market and expand the government to encompass all of society.
It is easy to oppose Israel's massacre in the Gaza Strip. Just watch a few horrifying videos. What is not easy is understanding the price system, its prerequisites -- private property and free exchange -- and its benefits for mankind, including civil peace.
