Tag Archives: 6b) Mises.org

The Treasury department has issued its spending and revenue report for April 2021, and it’s clear the US government is headed toward another record-breaking year for deficits. According to the report, the US federal government collected $439.2 billion in revenue during April 2021, which was a sizable improvement over April 2020 and over March 2021. Indeed, April 2021’s revenue total was the largest since July of last year when the federal government collected 563.5...

In any given year during the past decade in the United States, more than 2.5 million Americans have died—from all causes. The number has grown in recent years, climbing from 2.59 million in 2013 to 2.85 million in 2019. This has been due partially to the US’s aging population, and also due to rising obesity levels and drug overdoses. In fact, since 2010, growth rates in total deaths has exceeded population growth in every year. In 2020, preliminary numbers suggest a...

[Chapter 19 of Rothbard’s newly edited and released Conceived in Liberty, vol. 5, The New Republic: 1784–1791.] The most important battle of the August days of the Constitutional Convention was waged, as had been the battle over the three-fifths clause, between the North and South and had at its heart the institution of slavery. One of the small number of restrictions on Congress in the draft Constitution was a prohibition of any tax on exports, or of any tax or...

People must still compete for resources in a socialist economy. In fact, the competition is intense. On the other hand, thanks to markets, basic necessities—and even basic luxuries—are now more more accessible than ever. Original Article: "How Markets Have Delivered More Economic Equality​" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. [embedded content]...

The bureaucrat is not only a government employee. He is, under a democratic constitution, at the same time a voter and as such a part of the sovereign, his employer. He is in a peculiar position: he is both employer and employee. And his pecuniary interest as employee towers above his interest as employer, as he gets much more from the public funds than he contributes to them. This double relationship becomes more important as the people on the government’s payroll...

Reading Jonathan Culbreath’s “Modern Monetary Theory for Conservatives” one can’t help but think of Murray Rothbard’s quip that “it is not a crime to be ignorant of economics … but it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.“ Culbreath’s case for modern monetary theory (MMT) rests on an ignorance of basic economic principles regarding the role of money in a free market economy....

Banks and accounting trickery go together. Last year, as I remember back to my banking days, financial institutions followed the advice once proffered by one of our board members, “If we’re going to the dump, let’s take a full load.” When the pandemic struck, banks dumped plenty in their loan-loss provisions, $60 billion, expecting the worst. The cavalry arrived led by Jerome Powell’s Fed liquidity flood, Steven Mnuchin’s Paycheck Protection Program (PPP) loans,...

Paul Krugman has a very prominent perch from the editorial page at the New York Times and he has used his influence, among other things, to shill for two things that are anathema to a strong economy: inflation and organized labor. My analysis examines what Krugman says about labor unions and explains why once again his economic prognostications are off base. In a recent column, Krugman declares that the present political climate may reverse the long trend in private...

Congress and the president have adopted many critically important policies in great haste during brief periods of perceived national emergency. During the first “hundred days” of the Franklin D. Roosevelt administration in the spring of 1933, for example, the government abandoned the gold standard, enacted a system of wide-ranging controls, taxes, and subsidies in agriculture, and set in motion a plan to cartelize the nation’s manufacturing industries. In 2001, the...

China and Russia are trying to build a Eurasion bloc that can break free of any American spheres of influence. The American regime obviously opposes this, but money printing and debt limits the American options. Original Article: “The Biggest Threat to US Hegemony: China, Russia, or Debt?” Now that the Biden administration has settled in, it is time to reassess American policy towards Russia, China and the wider Asian scene. Is it going to be a continuation of...