Conserving only the underlying stable rules, while letting individual decision making drive change, is a concept that a century of technocracy has made foreign to most people. It does not fit neatly into the comfortable old left-right dichotomy and does not line up with technocratic assumptions about the powers and […]

It is unfortunately none too well understood that, just as the State has no money of its own, so it has no power of its own. All the power it has is what society gives it, plus what it confiscates from time to time on one pretext or another; there […]

But while the humanitarians indulged in depicting the blessings of this [classical] liberal utopia, they did not realize that new ideologies were on the way to supplant liberalism and to shape a new order arousing antagonisms for which no peaceful solution could be found. They did not see it because […]

The history of the nineteenth and twentieth centuries has discredited the hopes and the prognostications of the philosophers of the Enlightenment. The peoples did not proceed on the road toward freedom, constitutional government, civil rights, free trade, peace, and good will among nations. Instead the trend is toward totalitarianism, toward […]

If we look beneath the surface of our public affairs, we can discern one fundamental fact, namely: a great redistribution of power between society and the State. This is the fact that interests the student of civilization. He has only a secondary or derived interest in matters like price-fixing, wage-fixing, […]

Economics is not about goods and services; it is about the actions of living men. — Mises, Human Action