On his podcast “Verdict” November 13, Ted Cruz mentioned one of my favorite books by Ludwig von Mises: Bureaucracy. He mentioned it in reference to the “Department of Government Efficiency” that was also announced by President-elect Donald Trump on the same day. Cruz brings up a crucial point to the conversation surrounding this plan, pointing at Mises for getting it right. The idea lingers that this Department will make government efficient; that is why you need two businessmen—Elon Musk and Vivek Ramaswamy—at the helm. At a surface level, this idea is compelling, but a closer examination shows that it runs into roadblocks. That roadblock is Ludwig von Mises and his analysis of socialism. Mises’s theory of socialist calculation put an end to the debate over

Left or right, the enemy is the free market. Every problem is the fault of the free market. On the left, the supposed radical deregulation of the 1980s paved the way for the financial crisis and the destruction of the environment. On the right, free trade is responsible for the gutting of manufacturing. The free market is made out in this mythos to have had its heyday in the 1980s and ‘90s and destroyed everything. Even free market advocates fall into this trap, saying that this time in the near past was a free market victory. The results—they try to argue with the market critics, but they agree with the causal analysis: Markets won! Hooray!The fact is that all three of these groups are wrong. There was no American market revolution in the ‘80s.It is important to

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

[embedded content]

ESG has become a buzzword for both the American Left and Right. For the Right, it is just a Trojan horse for progressive social attitudes to sneak into business. For the Left it is an alternative to the “cruel” profits-only business model of Milton Friedman. Some on the Right abhor ESG because they worship profit in some abstract material sense. They treat it as if consumerism and profit are materialistic ends to worship in of themselves. But what they ignore is the crucial insight that all action accounts for social welfare.ESG does not improve care for the environment or social causes, it actively undermines social welfare.Humans are not only impelled by their physical desires to act, but also social, cultural, and religious desires. Mises describes this in

National Conservatives are a growing movement on the political right. They are largely united by their belief in the failings of liberalism, in protectionist trade policy, a halt to mass migration, and a more Christianized nation. The attendees of this year’s conference, hosted by the Edmund Burke Foundation, focused on many topics: free trade, their desire to decouple from China, weaponization of government, bureaucracy in government, and even the building of parallel institutions. But one topic, one that should be vitally important to anyone wishing to preserve a nation, was absent. That, being monetary policy.In my time listening to many panels, and many a plenary speaker, the Federal Reserve and monetary policy was brought up once: by Senator Rick Scott (R-FL)

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

[embedded content]

This weekend a wannabe-assassin tried to kill former President Donald Trump, injuring him and two others and killing another man: Core Comperatore, who shielded his wife and daughter from gun fire. The man responsible is reported to be Thomas Matthew Crooks, who missed Trump’s head by mere inches. Crooks shot from atop a building to Trump’s right, somehow not being halted by the Secret Service. Tensions have been high since seeing it as a gross act of violence from leftists that have drummed up fear against Trump since 2016.I don’t see this as a possible conspiracy from the DNC, Biden Administration, or whatever three letter agency folks are wont to blame. If the attempt was to take Trump’s life, one would imagine selecting a much better shot with a much more

Many small colleges are shutting their doors, and it is largely the fault of overexpansion, government protectionism, and bureaucratic infiltration.If you are following any news in higher education, you are probably aware of the continued closures of many small colleges and universities. This has picked up as of late—almost to one small college a week—and comes as covid-19 relief money dries up, along with rising costs that are no longer covered by federal money, declining enrollment rates, and overall pessimism with higher education. However, all these problems can be traced back to one core issue: bureaucracy.What is called “administrative bloat” by corporate media is a staggering trend that has continued since the 1970s. A study by independent researchers for

The most pervasive and prevalent aspect of government to the average American is the regulatory bureaucracy. Starting a business requires the acquisition of a license. Bureaucrats were given powers to create new legal requirements, accounting measures, and deviations from profit management. This was enabled by the law, through the delegation of powers by Congress to the bureaucrats, but also by the Supreme Court. But, that is coming to a close in the near future as the Supreme Court has overturned a 40-year precedent.Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc. (a lengthy name–I will just call it ‘Chevron’ going forward) set forward a precedent that gave deference to regulatory agencies in interpreting and implementing regulations allowed for by

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

[embedded content]

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

[embedded content]

In responding to economic fallacies that mainstream free traders make, the American Compass makes some of their own.The American Compass—headed by Oren Cass, who once staffed Mitt Romney’s 2012 presidential campaign—is the modern descendant of Alexander Hamilton. To those unfamiliar with Hamilton beyond the Federalist Papers, that is hardly a compliment.The Compass, whose writers and staffers join a long list of protectionists gunning for a future Trump administration, echo the rhetoric of Hamilton of rebuilding (or in Hamilton’s time, just building) industry through tariffs and trade restrictions. However, these protectionists have met resistance in the form of a neoliberal consensus that only truly support free trade as justification for a cronyist empire.In

The raid on an Amish family farm is the direct result of government protectionism of big agriculture through needless and cumbersome regulations.Amos Miller is an Amish farmer in Pennsylvania who has become a thorn in the side of the State of Pennsylvania and the federal government for his selling of raw milk and other unregulated products. Miller first came to the attention of the Food and Drug Administration in 2016 when they claimed his milk was linked to several cases of listeria bacteria causing listeriosis in individuals who drank raw milk. Their dispute continued until 2023, when Miller was forced to pay out $30,000 and continue to pay out $305,000 in fees levied by a judge following federal lawsuits.Conflict has resumed as the Pennsylvania attorney general

The raid on an Amish family farm is the direct result of government protectionism of big agriculture through needless and cumbersome regulations.Amos Miller is an Amish farmer in Pennsylvania who has become a thorn in the side of the State of Pennsylvania and the federal government for his selling of raw milk and other unregulated products. Miller first came to the attention of the Food and Drug Administration in 2016 when they claimed his milk was linked to several cases of listeria bacteria causing listeriosis in individuals who drank raw milk. Their dispute continued until 2023, when Miller was forced to pay out $30,000 and continue to pay out $305,000 in fees levied by a judge following federal lawsuits.Conflict has resumed as the Pennsylvania attorney general

Tu ne cede malis, sed contra audentior ito

Website powered by Mises Institute donors

Mises Institute is a tax-exempt 501(c)(3) nonprofit organization. Contributions are tax-deductible to the full extent the law allows. Tax ID# 52-1263436

[embedded content]

Tags: Featured,newsletter

If one follows news relating to the economy, they surely have come across certain mainstream rhetoric in support of the Federal Reserve System. Everyone is familiar with the typical claims that the Federal Reserve strives for maximized employment and low inflation, and that the Fed is the regulator of the banking industry. But king of them all is of the supposed political neutrality of the Federal Reserve.The Federal Reserve itself touts its elevation above the petty conflicts and interests of the three branches of government. The Fed’s website declares,Congress has determined the Federal Reserve can best achieve its mission of supporting maximum employment and stable prices as an independent agency that makes decisions based on the best available evidence and

Super Tuesday saw Donald Trump sweep all possible state delegates except for the state of Vermont. However, hovering just below the surface were a series of propositions that were voted on by the Texas Republican Party. Various propositions touched on topics of gold as legal tender, border security, and school choice, but the most interesting was Proposition 6. Proposition 6 reads as follows: “The Texas Legislature should prohibit the deployment of the Texas National Guard to a foreign conflict unless Congress first formally declares war. YES or NO.”The Texas GOP voters voted over 84% in favor of this proposition that would halt the national guard from being deployed abroad. The scale is astonishing as well, as 84% is near 1.9 million Texans. This proposition is

Among the most persistent of myths in the sphere of economics is of the supposed benefits of government spending in the economy. Apologists will include government spending in gross domestic product measures, as if government production is truly “productive.” A common argument in favor of government spending is national defense spending.US senator Tommy Tuberville (R-AL) declared on Twitter that he would be voting against a defense package that would send further money to Ukraine and Israel. American Enterprise Institute senior fellow Marc Thiessen quote tweeted the senator, saying,Ukraine aid money is going to Alabama to produce the following systems: High Mobility Artillery Rocket Systems (HIMARS), Javelins, M1A1 Abrams tanks, M2A4 Bradley infantry fighting

School choice would seem to have benefits, but as Thomas Sowell says: “There are no solutions. There are only trade-offs.” Enthusiastic “school choice” proponents forget that with government money comes government control.
Original Article: The Double-Edged Sword of School Choice

[embedded content]

Tags: Featured,newsletter

Is the regulatory choice a tradeoff between safety or “breaking a few eggs” via free markets? The logic of allowing for free and unhampered markets is compelling.
Original Article: Are Free Markets More Dangerous than Regulated Markets?

[embedded content]

Tags: Featured,newsletter

A Cato Institute associate has declared the development of the covid-19 vaccines to be a free-market “triumph.” The only thing that has triumphed in this sorry episode has been the rapid growth of coercive government power.
Original Article: Contra CATO: COVID-19 Vaccinations Are Not a Free Market Victory

[embedded content]

Tags: Featured,newsletter

Oliver Anthony’s popular song, "Rich Men North of Richmond," describes the parasitic world of the Beltway. One hopes people understand the damage the political classes have done.
Original Article: The Parasitic Rich Men North of Richmond

[embedded content]

Tags: Featured,newsletter

In light of Nobel Prizes being given to two researchers of mRNA covid-19 vaccinations, beltway establishments like that of the Cato Institute have lauded praises onto the decision. To Cato, as evidenced by a blog post by Ian Vásquez, the production of these vaccines was a “victory of globalization!” Whilst it certainly required a vast scale of global resources and networking, it was hardly what one could consider a free market victory. The development of these vaccines was done so by plundered resources, granted legal immunity, and captured market positions.
One aspect lost by the English Cato blog is that of Vásquez’s defense, or rather the lack thereof, of the funding of this research. Rather than discuss where the funding for research in covid-19 vaccinations

Ibram X. Kendi, the controversial author of How to Be an Antiracist, has been revealed as not only a hustler of horrid ideas but also a poor businessman. Kendi was appointed the head and founder of Boston University’s Center for Antiracist Research in 2020 following the aptly named “summer of love,” which saw riots in most major cities over calls for “racial justice.”
Now, Boston University is committing mass layoffs of employees, as the Center has lost the $43 million that was donated to it at its opening. There have also been several complaints about management practices. The Center is laying off much of its staff as it switches to a new model that it hopes will keep it alive. It is another profound case of fiat academia being inefficient and unproductive, as

We should not just be concerned about problems in the American banking system, but also about the proliferation of Eurodollars.

Original Article: "Eurodollars as a Fractional Reserve Market"

[embedded content]

Tags: Featured,newsletter