Tag Archives: Featured

[Excerpt from chapter 7 of Power and Market in Man, Economy, and State with Power and Market, pp. 1308–12.] Probably the most common ethical criticism of the market economy is that it fails to achieve the goal of equality. Equality has been championed on various “economic” grounds, such as minimum social sacrifice or the diminishing marginal utility of money (see the chapter on taxation above). But in recent years economists have recognized that they cannot justify...

Over one hundred years ago, Austrian economist Ludwig von Mises discovered what causes the boom-bust business cycle. As Mises explained, the boom is caused by central and commercial banks creating money out of thin air. This lowers interest rates, which encourages businesses to borrow this newly created money to fund capital-intensive investment projects. The bust is caused when the money creation process slows. It is then that businesses discover there are not...

It’s been a year since the Russian invasion of Ukraine. In spite of claims from the regime and its media allies that Russia was the next Third Reich and would soon roll through half of Europe, it turns out that was never even remotely true. In fact, things have unfolded more or less just like we predicted here at mises.org: the Russians aren’t even close to occupying any place in Europe beyond eastern Ukraine. It’s not Munich 1938. Economic sanctions have not...

Rest in peace, "technolibertarianism." There was a time when many believed tech entrepreneurs would usher in a new era of freedom. Unfortunately, the new tech elites are technocratic collaborators with the regime. Original Article: "When the Private Sector Is the Enemy" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

This episode of Radio Rothbard revisits a point in our previous episode about the popular claim on leftwing Twitter that red-state America would be a "third world country" without support from the federal government. Ryan McMaken and Tho Bishop discuss Ryan's recent article on the topic, as well as the legacy of populist politics, and the unseen consequences of uniparty addiction to DC money. Recommended Reading "No, Red State Economies Don't Depend on a...

In 1971 Richard Nixon took the US off the last feeble vestiges of the gold standard, otherwise known as the Bretton Woods Agreement. That system had been a bizarre gold-dollar hybrid where the dollar was the world reserve currency but the US agreed to keep the dollar backed by gold. Henry Hazlitt’s book From Bretton Woods to World Inflation explains the consequences of this situation well. The end of this system left a vacuum at the heart of world financial affairs,...

Overview: The jump in prices paid in yesterday's US ISM manufacturing coupled with the stronger eurozone inflation, with a new cyclical high reported in the core rate, underscores the market theme of higher-for-longer. This is seen as dollar supportive but also negative for risk-assets, including and especially equities. European benchmark 10-year yields are up another couple of basis points today and the 10-year US Treasury yield is pushing above 4% for the first...

When we see real bipartisan action in Congress, it usually is for the worst. Original Article: "Why You Should Fear "Bipartisan" Agreements in Congress" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content] Tags: Featured,newsletter

It is tempting, as Naomi Wolf has done recently, to ascribe the breakdown of Western civilization to the debasing of “Judeo-Christian” ethics and the reemergence 0f malignant supernatural forces. Witnessing the many assaults on the infrastructure and social order of the United States of late, I wouldn’t rule out metaphysical causality either. But to blame the pagan gods, or, in specifically Christian terms, to blame Satan, is to take comfort in an obscured...

Arthur Travers-Borgstroem, a Finnish writer, published a book entitled Mutualism that deals with ideas of social reform, and culminates in a plea for the nationalization of credit. A German edition appeared in 1923. In 1917, the author had established a foundation under his name in Berne, Switzerland, whose primary objective was the conferring of prizes for writings on the nationalization of credit. The panel of judges consisted of Professors Diehl, Weyermann,...