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.

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Unsurprisingly, Javier Milei´s monetary reform plans are discussed intensively in libertarian circles. For the first time, a real libertarian reform of the monetary and financial system is in sight. One of the main issues of contentions is Milei´s plan to introduce a 100% reserve banking system. Such a move would be truly revolutionary. The Argentinian banking system would be sound and stable. Harmful credit expansion would be ruled out. Unfortunately, but perhaps not surprisingly fractional reserve bankers have come out to criticize Milei´s plan.In this context, we find a video by the Spanish economist Juan Ramón Rallo which he has produced in response to a brief note by Jesús Huerta de Soto, responding in turn to another video Rallo where Rallo criticizes the

Recently, there has been a debate in Germany on the constitutionality of additional government borrowing of €60 billion. The borrowing is debated because Germany has a constitutional debt brake. The debt brake limits the possibility of the government to indebt itself and pushes it toward a balanced budget in normal times. In times of emergency, however, the debt brake allows for exceptions and higher deficits to fight the emergency. Unsurprisingly, huge amounts of debts were issued to cope with the corona crisis.

The German government plans to present a bill that transfers an unused borrowing authorization of €60 billion covid funds from last fiscal year to a special fund called the "Energy and Climate Fund," even though climate spending by itself would not be

The best that mankind ever knew:
Freedom and life are earned by those alone
Who conquer them each day anew.
— Johann Wolfgang von Goethe1
According to many economists, we need the state to provide public goods.2 The assertion seems to be so crystal-clear that it is not even worth discussion in the mainstream. One typical and popular example of public goods in Germany is the case of dikes or levees. In Vahlens Kompendium der Wirtschaftstheorie und Wirtschaftspolitik(2003), maybe the most widely used German economics textbook, Heinz Grossekettler claims:
The aim of the state should be to satisfy needs for those who would be willing to pay, except that this willingness is inhibited by organizational costs that are too high…. High organizational costs exist … mainly

On June 29, the German parliament reacted as parliaments normally do when there is a problem, namely, by allowing the government to spend more. In order to respond to the economic difficulties due to the corona epidemic and the government restrictions, it passed a typical Keynesian stimulus package in order to boost aggregate demand.
The self-set goal of the economic stimulus package is to lead the German economy back to a “sustainable growth path…that will secure jobs and prosperity.” I interpret the term “sustainable growth” here as growth that individuals really want and would support through their voluntary actions in a market economy. It is therefore a growth that is not based on fiscal subsidies and growing public debt and that would collapse without these

The last days and weeks of the coronavirus epidemic give an interesting insight into the human psyche. Elementary liberties are restricted all over the world, such as the freedom of movement or private property. Yet most people accept these restrictions without blinking, as the state declares their indispensability.
A chronology of the events in Madrid: on Sunday, March 8, a large World Women’s Day demonstration against the alleged rule of the Patriachate was held. There were 120,000 particiants, and members of the government took part in it, marching side by side in the first row. They had called for strong participation. Just one day later it was announced that starting on Wednesday, March 11, kindergartens, schools, and universities in Madrid would be closed.

Andreas Marquart and Philipp Bagus (see their mises.org author pages here and here) were recently interviewed about their new book by the Austrian Economics Center. Unfortunately for English-language readers, the book is only available in German. Nevertheless, the interview offers some valuable insights. 
Mr. Marquart, Mr. Bagus, you have released your new book „Wir schaffen das – alleine!” (“We can do it – alone!”) this spring. The subtitle says: “Why small states are just better.” To begin: Why are small states generally better than larger ones?
Andreas Marquart (AM): In small states the government is closer to its citizens and by that better observable and controllable by the populace. Small states are more