austrian-school-of-economics

Government should never be able to do anything you can't do. If you can't steal from your neighbor, you can't send the government to steal for you.

The idea that the government has services or goods that they can pass on is a complete farce. Governments have nothing. They can__ create anything, they never have. All they can do is steal from one group and give it to another at the destruction of the principles of freedom, and we ought to challenge that concept.

Conflict is not unavoidable. However, it is nonsensical to consider the institution of a state as a solution to the problem of possible conflict, because it is precisely the institution of a state which first makes conflict unavoidable and permanent.

Price controls almost invariably produce black markets, where prices are not only higher than the legally permitted prices, but also higher than they would be in a free market, since the legal risks must also be compensated. While small-scale black markets may function in secrecy, large-scale black markets usually require bribes to officials to look the other way.

The principle that the end justifies the means is in individualist ethics regarded as the denial of all morals. In collectivist ethics it becomes necessarily the supreme rule.

The overwhelming tendency of markets is to bring people together, break down prejudices, persuade people of the need to cooperate regardless of class, race, religion, sex/gender, and physical ability. The same is obviously and especially true of sexual orientation. It is the market that rewards people who put aside their biases and seek gains through trade. This is why states devoted to racialist and hateful policies always resort to violence in control of the marketplace.

People are not embracing collectivism because they have accepted bad economics. They are accepting bad economics because they have embraced collectivism.

Laissez faire (in its full true meaning) opens the way to the realization of the noble dreams of socialism.

Growing economies are built by billions of actors behaving according to their own interests, coordinated through institutions that no one in particular created.Realizing this requires humility, a trait that is in short supply among would-be dictators, politicians, and bureaucrats, which is precisely why these groups are the proven enemies of prosperity in all times and places.

There is only a certain amount of wealth in the world, this thinking goes. Economics is a matter of acquiring and allocating, not creating. This was the view of the world__ smartest people, all top philosophers and not stupid people, for many thousands of years before the age of the enlightenment. It still is.

What ranks above all else for economic and political reconstruction is a radical change of ideologies. Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.

Monopoly is a market, or part of a market, reserved to the exclusive possession of one or more sellers by means of the initiation of physical force by the government, or with the sanction of the government. Monopoly exists insofar as the freedom of competition is violated, with the freedom of competition being understood as the absence of the initiation of physical force as the preventive of competition. Where there is no initiation of physical force to violate the freedom of competition, there is no monopoly. The freedom of competition is violated only insofar as individuals are excluded from markets or parts of markets by means of the initiation of physical force. Monopoly is thus a market or part of a market reserved to the exclusive possession of one or more sellers by means of the initiation of physical force. It is thus something imposed upon the market from without__y the government. (Private individuals__angsters__an initiate force to reserve markets only if the government allows it and thereby sanctions it.)Thus, monopoly is not something which emerges from the normal operation of the economic system, and which the government must control.

A valid contract requires voluntary offer, acceptance, and consideration.

There can be no socialism without a state, and as long as there is a state there is socialism. The state, then, is the very institution that puts socialism into action; and as socialism rests on aggressive violence directed against innocent victims, aggressive violence is the nature of any state.

Libertarians make no exceptions to the golden rule and provide no moral loophole, no double standard, for government.

The essential difference between rich societies and poor societies does not stem from any greater effort the former devote to work, nor even from any greater technological knowledge the former hold. Instead it arises mainly from the fact that rich nations possess a more extensive network of capital goods wisely invested from an entrepreneurial standpoint. These goods consists of machines, tools, computers, buildings, semi-manufactured goods, software, etc., and they exist due to prior savings of the nation's citizens. In other words, comparatively rich societies possess more wealth because they have more time accumulated in the form of capital goods, which places them closer in time to the achievement of much more valuable goals.

People and institutions that refuse to admit error eventually discredit themselves.

When people encounter the free market and they recoil or react negatively to it, they're merely confessing that voluntaryism, trade and negotiation are foreign and threatening to them, which tells you everything about how tragically they were raised.