[A selection from “The Objectives of Economic Education” in Economic Freedom and Interventionism.] The struggle between the two systems of social organization, freedom and totalitarianism, will be decided in the democratic nations…
The Free Market 24, no. 12 ( 2004) The democracy of the market is not the democracy that Plato spoke of in his Republic (c. 370 BC) as “a charming…
Throughout much of human history, a political ruler was often considered to be only as good as his ability to distribute gifts, booty, and other material rewards to his most…
[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…
What does it mean to act “on the margin” or to think in terms of “marginality?” Economists use the term often. The Mises Circle in interwar Vienna even had songs…
In November 1837, rebellion stirred in the British colonies of Upper and Lower Canada (modern-day Ontario and Quebec). In Lower Canada, the rebel group the Patriotes had just won the Battle of…
[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in 2021.] In chapter 7 we summarized some of the…
The planned economy was all the rage in 1937, when Prentice-Hall published a 1,000- page tome on The Planned Society: Yesterday, Today, Tomorrow: A Symposium by Thirty-Five Economists, Sociologists, and…
Upon the collapse of the Soviet Union, Soviet foreign spokesman Gennadi Gerasimov warned the United States, “We have done the most terrible thing to you that we could possibly have…
For many a sign of a modern economy—and for those who know better, a cause of grief—Mexico’s peso comes from the country’s central bank, el Banco de México (the Bank…