Mises Daily

It is generally accepted that a government can enslave the citizens—unless it is a democratic government. Mistake!

"The East lacked the primordial thing, the idea of freedom from the state. The East never raised the banner of freedom."

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."

While capitalism gives rise to prosperity and freedom, the state thrives on an economically ignorant public.

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.