What is the market economy? (Part Two)

Mises answers again in Human Action:

The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor. The forces determining the — continually changing — state of the market are the value judgments of these individuals and their actions as directed by these value judgments. The state of the market at any instant is the price structure, i.e., the totality of the exchange ratios as established by the interaction of those eager to buy and those eager to sell. There is nothing inhuman or mystical with regard to the market. The market process is entirely a resultant of human actions. Every market phenomenon can be traced back to definite choices of the members of the market society.

Ludwig Von Mises quoted in Mises on Money

What is the market economy? (Part One)

Mises answers in Human Action:

The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybody's actions aim at the satisfaction of other people's needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens. Everybody, on the other hand, is served by his fellow citizens. Everybody is both a means and an end in himself, an ultimate end for himself and a means to other people in their endeavors to attain their own ends.

Ludwig Von Mises quoted in Mises on Money

Mises on Government Lust for Inflation and Credit Expansion

"It is a fable that governments interfered with banking in order to restrict the issue of fiduciary media and to prevent credit expansion. The idea that guided governments was, on the contrary, the lust for inflation and credit expansion. They privileged banks because they wanted to widen the limits that the unhampered market draws to credit expansion or because they were eager to open the treasury a source of revenue. For the most part both of these considerations motivated the authorities. . . . The establishment of free banking was never seriously considered because it would have been too efficient in restricting credit expansion" (p. 441).

Ludwig Von Mises, Quoted in Mises on Money

Gary North on the Enemies of the Gold Standard

"What all the enemies of the gold standard spurn as its main vice is precisely the same thing that in the eyes of the advocates of the gold standard is its main virtue, namely, its incompatibility with a policy of credit expansion. The nucleus of all the effusions of the anti-gold authors and politicians is the expansionist fallacy."

Gary North, Mises on Money

Video: Ron Paul Talks Fema, Libya, Mises & More

Is Deleveraging Bad for the Economy? - Robert P. Murphy - Mises Daily

Is Deleveraging Bad for the Economy? - Robert P. Murphy - Mises Daily

From the Tea Party with love - The Hill's Congress Blog

A quote from Chris Littleton:

Lastly –government doesn’t create jobs. Entrepreneurs create jobs. Even when you open a new government building or department, you are taking money from the existing work force and making that money far less productive than it would have been if left in the hands of citizens. You have no ability to produce anything, and are by definition of your very existence, a restriction on freedom and prosperity to all citizens.

From the Tea Party with love - The Hill's Congress Blog

Littleton sounds a lot like Ludwig Von Mises when he said "Government is essentially the negation of liberty."

Defaulting on the Fed's Bonds - Robert P. Murphy - Mises Daily

Is it a good idea?

Defaulting on the Fed's Bonds - Robert P. Murphy - Mises Daily

Mises on indifference when society is sweeping toward destruction

No one can find a safe way out for himself if society is sweeping towards destruction. Therefore everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interests of everyone hang on the result.

Ludwig Von Mises

The Chicago School versus the Austrian School - Robert P. Murphy - Mises Daily

The Austrians are oddballs among professional economists for their focus on methodological issues in the first place. Indeed, Mises's magnum opus, Human Action, devotes the entire second chapter (41 pages) to "The Epistemological Problems of the Sciences of Human Action." There was no such treatment in the last Freakonomics book.

Although most economists in the 20th century and our time would disagree strongly, Mises insisted that economic theory itself was an a priori discipline.

The Chicago School versus the Austrian School - Robert P. Murphy - Mises Daily

Mises on Worshiping the State

From Omnipotent Government:

"The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men. The worst evils which mankind ever had to endure were inflicted by bad governments."