Today is the birthday of the late Ludwig von Mises, who along with Carl Menger, and Eugen von Bohm-Bawerk developed what is now known as the Austrian school of economic thought, following the tradition of Frederic Bastiat, Richard Cantillon, Nassau Senior, J.S. Mill, and others. For the most part, ardent liberals in the ancient sense of the word, the Austrian doctrine has always been about freedom. So then it is no great surprise that...
Is there a role for entrepreneurs under socialism? And if so, what would that be? The general idea with socialism, as far as I can tell, is that everyone gets to reap the rewards of success, collectively. If I invent a great time-saving device, I am not enriched by it any more than anyone else. Of course, the incentive to invest is for all but the greatest (and cheapest) inventions, approximately zero, or in...
One can only speculate as to how Hillary intends to provide $5000 “baby bonds to each and every child born in the US of A. Hillary admits that even she doesn’t know where the money will come from: “I like the idea of giving every baby born in America a $5,000 account that will grow over time, so that when that young person turns 18 if they have finished high school they will be...
