To understand these negative views and pessimistic attitudes, we have to first ask, what do these young people think “capitalism” means?
Richard M. Ebeling
Dr. Richard M. Ebeling is the recently appointed BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel. He was formerly professor of Economics at Northwood University, president of The Foundation for Economic Education (2003–2008), was the Ludwig von Mises Professor of Economics at Hillsdale College (1988–2003) in Hillsdale, Michigan, and served as vice president of academic affairs for The Future of Freedom Foundation (1989–2003).
Ludwig Von Mises, The Austrian Theory of Money, Banking, and the Business Cycle
What should have been a minor economic downturn became the Great Depression because government interventions prevented the market process from working.
Ludwig Von Mises explained why with his Austrian theory of Money, Banking, and the Business Cycle.
Fascist Franklin Roosevelt’s Bogus Economic Bill of Rights
Not one of these “rights” can be provided to anyone without some other American reduced in his freedom.
The Beginnings of a Reborn Austrian School of Economics
Fifty years ago, on October 10, 1973, one of the leading members of the Austrian School of Economics, Ludwig von Mises (1881–1973), passed away at the age of 92.
Why Pure Socialism is Impossible
The establishment of a comprehensive system of socialist central planning would be equivalent to going back in time, before the institutions of private property and market competition had enabled the utilization of prices for rational decision-making.
How Socialists Hijacked The Word “Liberal”
In the 19th century, liberalism was identified with the belief in and the defense of individual liberty in various spheres of life.
Misunderstanding the Meaning of a “Monopoly”
As long as government secures and protects private property rights, enforces all contracts entered into voluntarily and through mutual agreement, and assures law and order under an impartial rule of law, “monopoly” as an economic or social problem is virtually non-existent. But introduce government intervention into the market system, and monopoly invariably becomes a social harm and an economic problem.
A Declaration of Independence from Tyrannical Government
The “monkish ignorance and superstition” of today is the misplaced belief that the individual is to be sacrificed to the group, the collective, to the nation – as long as the banner under which it is done is called “democracy” or “social justice.”
Celebrating Adam Smith on His 300th Birthday
Three hundred years ago, on June 5, 1723, one of the most important and influential thinkers in modern history, Adam Smith, was born in the small Scottish village of Kirkcaldy. There are few individuals who it can be said have left as lasting and as positive a legacy on humankind as Adam Smith.
Liberalism, True and False
This new “liberalism” of compulsive paternalism was and is, in fact, a false liberalism.
If America Were Totalitarian, Where Would You Want to Live?
Today, government gorges on trillions of dollars of tax money every year, and still has to borrow a trillion dollars a year on top of all that, which has created a huge national debt.
The Impossibility of Socialism
Socialism as a means for improving the condition of man is impossible.
Would You Abdicate If You Could Be the Dictator?
“If only I was dictator, I know how to set things right.”
Preferential Policies: An International Perspective by Thomas Sowell
Regardless of the reason or rationale, the social effect of affirmative-action policies is to politicize social relationships. And the consequences of this have been everything from systems of privilege and corruption to mob violence and civil war.
Can Capitalism Survive? 80 Years After Schumpeter’s Answer
Eighty years ago, in the midst of the Second World War, Austrian-born economist Joseph A. Schumpeter published one of his most famous books, Capitalism, Socialism, and Democracy (1942). A central question that he asked and tried to answer was, “Can Capitalism Survive?”
The Centenary of Ludwig Von Mises’s Critique of Socialism
Ludwig Von Mises’s devastating critique of why a socialist economic system must always be inferior to capitalism.
Ludwig von Mises’s Free Market Agenda for a Postwar Ukraine
Whether at least part of Ukraine survives as a free and independent country when this war ends, or whether that will have to wait until some time in the future, Ukrainians will have to plan for the reconstruction of their economy at some point in the future. The economic policy agenda for such a reconstruction is at least partly at hand, and can be found in the writings of the Austrian economist, Ludwig von Mises.
The Pilgrims Tried Socialism and It Failed
The desire of “spreading the wealth” and for government to plan and regulate people’s lives is as old as the utopian fantasy in Plato’s Republic.
Winning Freedom Requires Radical Laissez-Faire Capitalist Solutions
What passes for “deregulation” or market-based reform has limited connection with any call for a truly laissez-faire capitalist United States.
Remembering the Soviet Nightmare that Ended Thirty Years Ago
There is, today, a new chorus of voices once again calling for a socialist future of increased political paternalism and forms of centralized economic planning.
Why Today’s Young Generation Must Study The History of Socialism
It is vital for the history of socialism not to be forgotten by those fortunate enough not to live under its reality of terror, tyranny, and social disaster, less history tragically repeat itself.
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