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Profit and Loss by Ludwig von Mises

Profit and Loss by Ludwig von Mises
In 1951, Mises gave an outstanding paper that made the summary case for the price system under capitalistic economic systems. In “Profit and Loss,” he explains how cost accounting is the critical institution that ferrets out social waste, ensures that resources are directed to their most highly valued ends, and how entrepreneurs respond to price signals. His presentation is systematic,... Read More

Bureaucracy by Ludwig von Mises

Bureaucracy by Ludwig von Mises
“The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement. They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government... Read More

War, Peace, and the State by Murray Rothbard

War, Peace, and the State by Murray Rothbard
The fundamental axiom of libertarian theory is that no one may threaten or commit violence (“aggress”) against another man’s person or property. Violence may be employed only against the man who commits such violence; that is, only defensively against the aggressive violence of another.1 In short, no violence may be employed against a non-aggressor. Here is the fundamental rule from... Read More