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Socialists and other leftwingers support taxation of the income and wealth of the well off. They say that they want to promote “equality” and “social justice,” but in fact they are motivated by envy. They want what others have. They can’t stand the thought of other people’s having more money than they do.Here is what Rob Larson, an economics professor at Tacoma Community College, says about certain very expensive apartments: “Besides the return of...

In this interview for The Misesian, we ask economist (and Argentina native) Nicolás Cachanosky about the prospects for a lasting change to Argentina’s highly inflationary and interventionist economy. The Misesian: It seems to many that Javier Milei was elected due to widespread dissatisfaction with the state of the economy in Argentina. Is this a correct assessment?Nicolás Cachanosky: Yes, I believe that is quite accurate. Argentina’s economy has been plagued by...

In 50 years since the Watergate scandal—famously resulting in President Richard Nixon’s resignation—there has been a flood of “post-Watergate morality,” in which Congress pushed through a number of “reforms” designed to curb government abuses. The Nixon Administration exerted great effort to conceal its organization of the break-in, as Nixon and his aides authorized a plan instructing the Central Intelligence Agency (CIA) to interfere with the Federal Bureau of...

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order....

As noted in this past weekend’s newsletter, following the “Yen Carry Trade” blowup just three weeks ago, the market has quickly reverted to more extreme short-term overbought conditions. Note: We wrote this article on Saturday, so all data and analysis is as of Friday’s market close. For example, three weeks ago, the growth sectors of the market were highly oversold, while the previous lagging defensive sectors were overbought. That was not surprising, as the...

Natural law is often regarded with suspicion by social scientists because they conceptualize human nature, and increasingly even the nature of animals, as a social construct. In their view there is no essential human nature by reference to which we can decide what is in the best interests of society. They argue that we must instead adopt an aspirational approach, by constructing a better and fairer world for the planet, and by discovering what is best for society...

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You would think that the growing popularity of homeschooling in the United States would be in more news headlines. Estimates from the National Home Education Research Institute (NHERI) reveal a staggering increase in the number of homeschool students since the 1970s—by a factor of 238. Of course, there was a surge in homeschooling during the Covid lockdowns, when many public schools either went completely virtual or implemented harsh measures that severely limited...

We are stuck in the middle of the road, far away from full socialism or the unhampered market.On Friday August 2, due to a disappointing jobs report, there was a large sell off on the stock market. After understanding Austrian Business Cycle Theory (ABCT) and the structural fragility the Federal Reserve creates in the production structure, my temptation upon seeing such a large swing in the market is to say, “Finally, I am vindicated! The boom-bust cycle has shown...

The war in Ukraine rages. Underwritten by US dollars, arms, intelligence, and provocation, US leaders have prolonged the war. And, in funding and arming Ukraine to the teeth, they have escalated tensions with Russia, a nation with thousands of nuclear weapons. Just this week, for the third straight month, the Russian military conducted drills to prepare for using short-range, “tactical” nuclear weapons. The risks could not be graver. Yet, as the threats of nuclear...