Tag Archives: 6b) Mises.org

It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a “dismal science.” But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance. —Murray Rothbard, “The Death Wish of the Anarcho-Communists” The Austrian school of economics stands as a beacon, illuminating the path to economic understanding through a perspective...

Young people often get their first jobs in fast food or in some sort of retail customer service. Young and not so young adults are aware that fast food jobs will equip them with the skills needed to acquire future employment. Some choose to make a career in fast food, while for others it is a means of developing skills and earning money to satisfy their needs and wants. In the past, people could easily find employment making burgers and French fries, but soon enough...

Can a government regulatory system be reformed? In a word, no. The free market is always the best regulator of quality and safety. Original Article: "Regulation in the Free Market: It’s Not What Most People Believe" [embedded content] Tags: Featured,newsletter

When I was at the university, I once objected to a classmate’s lazy use of “public goods.” He had used it to favor his policy position, as a shorthand synonym of what’s good for society—only a thinly veiled euphemism for what I want to happen. “Public goods are things that are nonrivalrous and nonexcludable,” I said, almost sputtering off a nearby economics textbook. “The ones you’re talking about are neither.” He rolled his eyes in boredom. “Yes, yes, but that’s not...

Despite what many elites believe, AI can do many things, but it cannot successfully plan an economy. It lacks the intelligence of an entrepreneur. Original Article: "AI Lacks the Entrepreneurial Intelligence to Plan an Economy" [embedded content] Tags: Featured,newsletter

While progressives blame climate change for the deadly Lahaina fire, government created the conditions for the blaze and then helped set it. Original Article: "Thanks to Government, Maui's Lahaina Fire Became a Deadly Conflagration" [embedded content] Tags: Featured,newsletter

Contrary to the government's line that "inflation hurts everyone," inflation really is a wealth transfer from those without political power to the politically connected. Original Article: "Inflation Is a Giant "Skim" on the American People" [embedded content] Tags: Featured,newsletter

In this week's episode, Mark looks at PPI—the Producer Price Index—which provides evidence of the costs for suppliers in various industries, macroeconomic instability, and the potential for economic recovery. Here, very low prices provide the potential for recovery; and rising prices can indicate both recovery in the economy, as well as inflationary pressures moving forward. The Covid Bubble and restrictions caused a 50% increase in producer prices, and since the...

How to Nurture Truth and Authenticity: A Metamodern Economic Reform Proposalby Justin CarmienManticore Press, 2022; 272 pp. Neither I nor Justin Carmien, the author of How to Nurture Truth and Authenticity, is an economist. Carmien’s book, however, is not a work of economics but a philosophical attempt to apply Heideggerian metaphysics to practical statesmanship and political economy. Nor is it an academic book: it is written with naïve yet deep insight, a result of...

Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an analysis of what is wrong with them. Myth #1 Deficits are the cause of inflation; deficits have nothing to do with inflation. In recent decades we always have had federal deficits. The invariable response of the party out of power, whichever...