individualism for the masses!
The most common misunderstanding about economics is that it is only about money and commerce. The next step is easy: I care about more than money, and so should everyone, so let's leave economics to stockjobbers and money managers and otherwise dispense with its teachings. This is a fateful error, because, as Mises says, economics concerns everyone and everything."
B.K. Marcus is an amateur political economist with no formal education in the subject. He works from Charlottesville, Virginia, as an editorial consultant for the Ludwig von Mises Institute. He is no longer a house husband, nor a faculty spouse, but he is still a dilettante, and a layabout, at least in spirit.
"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."
| Ludwig von Mises: "Without the aid of monetary calculation, bookkeeping, and the computation of profit and loss in terms of money, technology would have had to confine itself to the simplest, and therefore the least productive, methods." - Epistemological Problems of Economics |
Thus, we have a lot of crises looming in America, some on their way, others imminent or already here. All of these crises are the products of intervention, and none of them can really be solved by more intervention.
Murray N. Rothbard, |
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