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Fabrizio Ferrari



Articles by Fabrizio Ferrari

“Monopoly” Is No Excuse for Government Intervention

September 16, 2020

Chapter 10 of Rothbard’s Man, Economy, and State with Power and Market ([1962, 1970] 2009), “Monopoly and Competition,” proffers a compelling reelaboration of monopoly theory: it highlights, indeed, some inconsistencies within the neoclassical analysis conventionally held as true and taught in undergraduate and graduate microeconomics classes. Rothbard’s monopoly analysis differs from the neoclassical one in (at least) …

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How Capitalists Improve Human Productivity

September 7, 2020

To quote the last paragraph of this 2008 article by Robert Murphy, when asked why Austrian school economics should be studied, the best answer is: “the Austrian theory of capital is the best one you can find if you really want to grasp how the economy actually works—beyond sterile mathematics and static timeless analysis.” The Austrian school’s …

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Was Mises a Fascist? Obviously Not.

August 28, 2020

Mises explicitly explained that fascism (which he called by its Italian name, “stato corporativo”) is nothing but an outgrowth of socialism and is incompatible with a free market. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Was Mises a Fascist? Obviously Not.​”

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Was Mises a Fascist? Obviously Not.

August 20, 2020

Every once in a while, Mises is accused of having been a fascist by slanderers who are either ignorant or acting in bad faith—or even both. The petty argument these detractors bring forth is a quotation taken—out of context—from Mises’s 1927 book Liberalism: It cannot be denied that Fascism and similar movements aiming at the …

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Today’s Anticapitalists Are Closer to Fascism Than They Think

August 13, 2020

Today’s anticapitalists fall into a familiar pattern pioneered by Mussolini and Giovanni Gentile. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Today’s Anticapitalists Are Closer to Fascism Than They Think​​​”.

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Why We Need Entrpreneurs and Market Prices for a Healthy Economy

August 11, 2020

Among the many insights Mises provides in his magnum opus, Human Action, there are crystal-clear considerations about the price mechanism, the role entrepreneurs play in fostering efficient resource allocation, and how socialism is detrimental to the economy, insofar as it disrupts the smooth interplay of prices, entrepreneurship, and resources’ allocation. Prices and Subjective Value In an unhampered …

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Today’s Anticapitalists Are Closer to Fascism Than They Think

August 6, 2020

On the back of the economic crisis brought about by the covid-19 pandemics, we are witnessing—once more—so-called economists, historians, and pundits attempting to proclaim the failure of capitalism. Their criticisms of the capitalistic organization of human cooperation and coexistence are various, but there are three strains of ideological attack against capitalism which seem to me to …

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How Central Banks Destroy Money’s Purchasing Power

July 19, 2020

Without a monopolist central bank, market forces would restrain the issuance of bank notes. But once central banks monopolize money creation, wealth is systematically transferred to the central bank and the privileged few who are favored by the state. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: …

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Why Savings Are So Critical to Improving the Standard of Living

July 10, 2020

Among the essential concepts Mises analyzes and dwells upon in Human Action (1949), there is the notion of capital. Mises conceives of capital as a factor of production intrinsically different from land and labor. In fact, capital is not nature given—its total amount increases or decreases depending upon human choices and intertemporal preferences—and its accumulation …

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Europe’s Communists Are Trying to Blame COVID-19 on Markets and “Neoliberalism”

May 8, 2020

As the COVID-19 pandemic is taking place worldwide, many leftist pundits and communist politicians are blaming its spread on the alleged inborn flaws of neoliberalism—which they identify with globalization, laissez-faire, the absence of solidarity and greater inequality. However, all their claims and theories are either factually wrong or deductively and praxeologically nonsensical. Globalization Is Enhanced Social …

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What “Lender of Last Resort” Is Supposed to Mean

April 6, 2020

Modern central banks have already moved far beyond what was once considered the proper role for a central bank as a “lender of last resort.” Now Keynesians and MMTers (modern monetary theorists) want to take things even further. As the COVID-19 pandemic and the consequent freezing of economic activity take place, many economists are hoping …

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The European Central Bank Is Being Stretched to Its Breaking Point in Italy

March 23, 2020

When Mario Draghi’s tenure was approaching its end, I argued for a sterner governor for the European Central Bank (ECB); hence, I was not even slightly enthusiastic when Draghi’s successor turned out to be Christine Lagarde—a patent dove, as can be inferred from her ideological proximity to a famous Keynesian like Olivier Blanchard. However, I am here to defend the …

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