Profiles

Mises’s insight into the importance of Cantillon effects can be further extended to explain not only income and wealth inequalities among individuals but also some rather curious developments in global industrial organization over the last few decades.

What the international trade and monetary system needs in order to grow healthy are free markets, sound money, and entrepreneurs to maintain, accumulate, and employ capital for best satisfaction of consumers around the world.

The effects of inflationary currency are not limited by government borders.

Perhaps the best proof of the current divorce between theory and reality in international economics is the economists who declare themselves in favor of free trade while also opposing the removal of all tariffs and customs.