Tag Archives: 6b) Mises.org

Please consider helping us publish these three new books: The World at War, Full Reserve Banking vs. Real Bills Doctrine, and Austrian Business Cycle Theory: an Introduction. The World at Warby Ralph Raicoedited by Edward FullerTo understand war, you also have to understand economics. Ralph Raico’s lecture “The World at War” is a masterpiece. Recorded in 1983, it remains perhaps the best introduction to the classical-liberal interpretation of the two world wars of...

Time preference refers to the preference of satisfaction in the present as compared to a future time. A person who heavily prefers current consumption to future consumption has a high time preference as he places a heavy premium upon satisfaction as soon as possible. By contrast, a person who does not place a heavy premium upon instant satisfaction has a low time preference. People with low time preferences are more likely to save and invest their money for greater...

America Last: The Right’s Century-Long Romance with Foreign Dictatorsby Jacob HeilbrunnLiveright, 2024; 249 pp.Jacob Heilbrunn, who is the editor of The National Interest, is dismayed that some leading figures on the American Right show an affinity for European dictators; he has in mind especially the “Hungarian strongman” Viktor Orbán and the Russian president Vladimir Putin. This admiration, not the foreign policy realism they claim to champion, leads these figures...

Mainstream economists believe our knowledge of the world of economics is elusive, so the criteria for choosing a theory should be its predictive power. If the theory “predicts,” it is regarded as a valid framework to assess the economy. Once a theory fails in that role, the search for a new theory begins.For instance, an economist believes that consumer outlays on goods and services are determined by disposable income. Once this view is validated by statistical...

(Frankfort, Kentucky) — In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature has deemed his attempted line-item veto as an illegal act — and directed the Secretary of State to enroll the exemption into law. This action makes the Bluegrass State the 45th state in the nation to enact this sound money policy – and the second this year. Originally introduced by Rep. Steven Doan as a standalone bill, the...

Javier Milei’s administration is generating much deserved commentary, both positive and negative. Critical discussion is vital since he is the first libertarian president, so keeping a distance between libertarianism itself and his government actions is a must if libertarians don’t want to fall with him should his government plans fail. Just because he is a libertarian and has accessed the presidency doesn’t mean he has immanent support from the rest of the...

When I was still in graduate school and still in my early twenties, I was riding on the airport shuttle to an event at the Mises Institute when I encountered an interesting phenomenon. It was the phenomenon of the “libertarian” who is free-market in the small stuff, but embraces war and statism in the big things. I still remember that shuttle ride well. I had become involved in a discussion with a man who was probably twenty years my senior. He was on the way to the...

Though the Western political class constantly criticizes the “authoritarian” nature of certain nations, one should sweep in front of his own door first, to paraphrase Johann von Goethe. Indeed, Western nation-states and international institutions have for years been gnawing at the freedom and rights of both individuals and businesses. First, the exorbitant fiscal and inflationary pressures on Western populations should never be considered “normal” or “acceptable”;...

Though the Western political class constantly criticizes the “authoritarian” nature of certain nations, one should sweep in front of his own door first, to paraphrase Johann von Goethe. Indeed, Western nation-states and international institutions have for years been gnawing at the freedom and rights of both individuals and businesses.First, the exorbitant fiscal and inflationary pressures on Western populations should never be considered “normal” or “acceptable”;...

The first thing to know about Dr. Thomas E. Woods, Jr.’s’ book Our Enemy, the Fed is he’s giving it away. Click the link, get your copy and read the whole book. Clearly, such intellectual charity is not only rare but in the educational spirit of Mises.org. The subject matter is light-heavy but Woods, author of the bestseller Meltdown (reviewed here), navigates it with the smooth skill of a master, making the reader experience satisfying from beginning to end. ...