Browsing Tag

Ludwig von Mises

Social Welfare by Government Actions?

June 14, 2008

The purpose of this essay is to address the role of government for private market and to find out the extent and the scope that government’s involvement with private establishments can be justified by economics. It seems to be assumed that government has a fundamental and necessary role in the business of private enterprises. This is not merely an assumption—it is the current paradigm and dogma.

Download the essay Can Government Increase Social Welfare (Utility) by Its Involvement with Private Market? (a pdf-file) or read it online.

Legal counterfeiting

March 21, 2007

Printing money does not increase the amount of products and services available in the market. It only increases the prices in the long term, in the short term it creates an illusion of increased wealth before the slow adjustment of prices catch up.

“The services money renders are conditioned by the height of its purchasing power. Nobody wants to have in his cash holding a definite number of pieces of money or a definite weight of money; he wants to keep a cash holding of a definite amount of purchasing power.”
Ludwig von Mises, Human Action, 3rd rev. ed. (Chicago: Contemporary Books, 1966) p 421.

Read Gary North’s The Official Counterfeiter.

Frank Shostak explains global liquidity and whether there is such a thing: The Yen and Monetary Liquidity

The source of prosperity

March 5, 2007

The wealth of any nation is dependent upon its people’s capabilities and resources to invest into new production. Some 50 years ago Ludwig von Mises gave this speech that is maybe even more valid today (and not just to Americans): Capital Supply And American Prosperity.

Sound Money

February 21, 2007

Ludwig von Mises: “It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.”

Read the article by Thorsten Polleit.