Tag Archives: 6b) Mises.org

An individual’s demand is constrained by his production of goods. The more goods an individual produces, the more of other goods he can secure for himself. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “If We Want to Increase Demand in the Market, We Must First Increase Production“. You Might Also Like How Historians Changed the Meaning of...

Bob offers his commentary on the movies “The Hunt” and “The Purge”—both produced by Blumhouse Productions—and focuses on whether The Purge storyline offers a challenge to Rothbard’s depiction of anarcho-capitalism. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS. You Might Also Like The “Old” vs. the “New” Liberalism It is not...

Today’s Western institutions have long been deemed to be sacrosanct. As a matter of fact, though, nation-states are increasingly met with reservation or even outright resentment. Public trust in government is near historic lows, and pillars like the media or democracy are suffering from a loss of confidence. But one modern institution seems to be standing as strong as ever: central banks. Although their role has changed significantly over the course of a few decades...

Key Takeaways and Actionable Insights An understanding of the Austrian definition of capital is tremendously useful to all business owners and managers. What is capital? Austrian economics has a precise and distinctive definition — unlike business schools and most business publications, books, and columnists. Among those entities, the term capital tends to be used very imprecisely. You might see sentences like, “Entrepreneurs must ensure they have sufficient capital...

Understood properly,  inflation is not a general increase in prices but is an increase in the money supply “out of thin air” which brings about the impoverishment of wealth generators. When inflation is seen as a general increase in prices, then anything that contributes to price increases is called inflationary. In this framework, not only does the central bank have nothing to do with inflation, on the contrary, the bank is regarded as an inflation fighter. But, on...

Politicians have destroyed more than 13 million jobs this year in a deluge of edicts aimed to fight the covid-19 pandemic. More than two hundred thousand Americans still died from the coronavirus, but the anticovid government crackdowns probably did far more damage than the virus. The covid crisis has also shown how easy it is for politicians to fan fears to seize nearly absolute power. In March, Donald Trump proclaimed that “we are at war with an invisible enemy.”...

Covid has exposed how easy it is for government to weaponize healthcare. How long will the doctor-patient relationship remain sacred? This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “Covid and the Escalation of Medical Tyranny“. You Might Also Like A Review of Stephanie Kelton’s The Deficit Myth The good news is that Stephanie Kelton has...

Given the overt hostility that progressives have toward private enterprise in the first place, politicians will take shutdown-caused shortages and empty shelves as “proof” that private enterprise has failed. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “The Second Act Will Be Worse Than the First: Lockdowns Are Not the Answer“. You Might Also Like...

The NRA would be wise to vote with its feet. Millions of Americans have already escaped the high taxes and freedom-destroying blue state regimes by doing the same. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “The NRA Would Be Wise to Leave New York ASAP“. You Might Also Like Money-Supply Growth Hits New High For Third Month In a Row In...

[This selection is adapted from “The Labor Theory of Value: A Critique of Carson’s Studies in Mutualist Political Economy,” Journal of Libertarian Studies 20, no. 1 (2006). Please see original for full references and footnotes.] Before proceeding, we should be clear on what an economic theory of value is supposed to do: its task is simply to explain the exchange value of particular goods and services. That is, an economic theory of value must explain why someone...