Tag Archives: 6b) Mises.org

Despite the massive intellectual feat that Marx’s Capital represents, the Marxian contribution to economics can be readily summarized as virtually zero. Professional economics as it exists today reflects no indication that Karl Marx ever existed. —Thomas Sowell If socialists understood economics they wouldn’t be socialists. —F.A. Hayek Karl Marx is a very popular name in social sciences. As a scholar of the nineteenth century, he is still a part of political...

This week on Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Peter St. Onge, a fellow at the Heritage Foundation and a regular contributor to the Mises Wire. This episode looks at the political response to the recent turmoil in the banking system and how the Austrian position looks today relative to 2008. St. Onge makes a case for optimism. [embedded content] Recommended Reading "It Turns Out That Hundreds of Banks Are at Risk" by Peter St. Onge:...

Mises saw essentialist values as fallacies because they were unverifiable and saw metaphysical ideas as a key component of authoritarianism. His solution was utilitarianism. Original Article: "Libertarian Law by Democratic Means: Utilitarianism and the Demythologization of Authority" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

When we read about the US economy, we often get wage growth as a signal of a strong labor market. It is hardly a strong market when the labor participation rate and the employment to population ratio are both below the February 2020 level and have been stagnant for months. Additionally, the headline figure of 4.6 percent annualized wage growth is misleading, as it shows a nominal and average figure that disguises a much tougher environment. According to the Bureau of...

Have you ever thought about the relationship between the words liberty and freedom? Frequently, the words are used interchangeably, but I have always preferred liberty. Perhaps my preference goes back to Thomas Jefferson’s reference to “life, liberty, and the pursuit of happiness” in the Declaration of Independence. Perhaps it traces to Patrick Henry’s “Give me liberty or give me death.” Perhaps it is because “with liberty and justice for all” is “the most important...

How do people in a pluralistic society live peacefully with each other? In his review of Kenneth McIntyre's book, David Gordon points to negative liberty as the best way to preserve values. Original Article: "Nonmeasure for Nonmeasure" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

San Francisco, as well as the government of California, is calling for millions in "reparations" for black people in that state. Reparations, unfortunately, are fast becoming another anti-property-owner racket. Original Article: "Reparations Are a Statist Cudgel for Bludgeoning Property Owners" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

The story of the failure of Silicon Valley Bank is the story of nearly every bank failure. Fractional reserve banking invites the risky behavior that brings down the banking system. Original Article: "Silicon Valley Bank and the Failure of Fractional Reserve Banking" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

The pro-life activist Randall Terry has a famous quote that anyone who cares about politics should be familiar with: “He who frames the question wins the debate.” Politicians are well aware of this fact, which is why they spend much of their time directing the political conversation into frameworks that benefit them. If they can get us arguing over how best to “reform” the education system, for instance, there will be little discussion about the bigger question of...

Ever since the Luddites rampaged through British textile factories in the early 1800s, people have feared that technology will result in mass unemployment. They were wrong then and are wrong now. Original Article: "The Fear of Mass Unemployment Due to Artificial Intelligence and Robotics Is Unfounded" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...