We’re often told that some prices should be high, and some others should be low. But the real goal should not be high prices or low prices, but a price system that communicates what is valued in society.
The rich make new resource-intensive products economically feasible. Those wealthy early-adopters of new products act as mannequins on which new products are draped, increasing demand as producers attempt to bring those products to the mass market.
In recent months, the cry of 'black power!' has been heard resounding in the land. As usual, both Conservatives and Liberals have reacted violently and on the wrong side, each for their different and characteristic reasons. The Conservatives, in their mindless racism, can only react in paranoid...
Archived from the live Mises.tv broadcast, this lecture was presented by Jeff Herbener at the 2013 Mises University, hosted by the Mises Institute in Auburn, Alabama, on 22 July 2013. Includes an introduction by Mark Thornton.