Friday, December 23, 2011

We Should Learn Something About the Science of Economics

The following are some quotes by the great economist Ludwig von Mises. These are important because our political class will try to pull one over on us every time. But we can protect ourselves by becoming familiar with the economic principles that made this country great in the first place. Today's politicians, never so much as Barack Obama, are defying these good economic rules and this can end only one way - in slavery to the state.

Economics is not about goods and services; it is about human choice and action.

Despots and democratic majorities are drunk with power. They must reluctantly admit that they are subject to the laws of nature. But they reject the very notion of economic law . . . economic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics.

All those not familiar with economics (i.e., the immense majority) do not see any reason why they should not coerce other people by means of force to do what these people are not prepared to do of their own accord.

The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.

Rulers do not like to admit that their power is restricted by any laws other than those of physics and biology. They never ascribe their failures and frustrations to the violation of economic law.

As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny is at stake.

The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built.
War doesn't liberate; it enslaves. It is the state on overdrive: taxing, inflating, kidnapping, killing. February 25-25 2012 | Furman University, Greenville, SC
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