Tag Archives: 6b) Mises.org

The heart of economic growth is an expanding subsistence fund, or the pool of real savings. This pool, which is composed of final consumer goods, sustains individuals in the various stages of the production process. The increase in the pool of real savings permits the expansion and the enhancement of the infrastructure, and this strengthens economic growth. An increase in economic growth for a given stock of money implies more goods per unit of money. This means that...

By the beginning of the fourth century, the Roman Empire had become a completely different economic reality from what it had been at the beginning of the first century. The denarius argenteus, the empire’s monetary unit during the first two centuries, had virtually disappeared since the middle of the third century, having been replaced by the argenteus antoninianus and the argenteus aurelianianus, numerals of greater theoretical value, but of less and less real...

After more than $20 trillion in stimulus plans since 2020, the economy is going into stagnation with elevated inflation. Global governments announced more than $12 trillion in stimulus measures in 2020 alone, and central banks bloated their balance sheet by $8 trillion. The result was disappointing and with long-lasting negative effects. Weak recovery, record debt, and elevated inflation. Of course, governments all over the world blamed the Ukraine invasion on the...

The famous quote, “Insanity is doing the same thing over and over again and expecting different results,” is usually attributed to Albert Einstein. While intended as a parable for quantum insanity, such a quote could equally be a parable for inflation policy. With the Bank of England and the Federal Reserve seeking to maintain target rates of 2 percent, the UK inflation rate has only fallen to 10.7 percent from 11.1 percent. Considering inflation is still...

[From the Austrian Economics Newsletter, Spring 1987] The Austrian School of economics did not develop out of thin air. It built upon the work of a number of other economists and philosophers going back as far as Aristotle. Among the precursors of the Austrian School were a number of Spanish and Italian scholastic economists. Several early Italian economists influenced the development of continental European economic thought in the centuries before Carl Menger. Gian...

Money supply growth fell again in November, and this time it turned negative for the first time in 33 years. November’s drop continues a steep downward trend from the unprecedented highs experienced during much of the past two years. During the thirteen months between April 2020 and April 2021, money supply growth in the United States often climbed above 35 percent year over year, well above even the “high” levels experienced from 2009 to 2013. Since then, the money...

I first became aware of the Property and Environment Research Center (PERC) after moving to Montana and was immediately intrigued by their work. The more I dug into PERC’s research, the more I realized they aligned with my worldview of free market conservation. The CEO of PERC, Brian Yablonski, graciously met with me to discuss PERC’s initiatives. Even after two hours, we had barely touched the surface of PERC’s free-market, conservation initiatives. Brian caught my...

Introduction: Division, friction and polarization have been on the rise in the West for at least a decade, but the escalation we saw during the “covid years” was especially worrying. Over the last year, this “worry” has become a truly pressing concern, even a real emergency one might argue, as inflationary pressures and an actual war were added to the mix of political and social tensions. Going into 2023, there are many reasons for responsible investors and for...

While the average person thinks economics begins with Adam Smith and his Wealth of Nations, readers of the Mises Wire know that the story goes back much further than that. Members of the Austrian school commonly describe their earliest intellectual predecessors, the late Scholastics, as “proto-Austrians.” In Jesús Huerta de Soto’s chapter on Juan de Mariana in 15 Great Austrian Economists, Huerta de Soto writes of ten major contributions to what would go on to be...

The Chinese Community Party's crackdown in Christian churches reflects the perceived antiauthoritarian nature of Christianity and the party's fear of a competing alternative worldview. Original Article: "Historical Christianity as a Liberating Force in China" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...