A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story.
Audio Mises Wire
Audio recordings of Mises Wire articles, offering contemporary news and opinion through the lens of Austrian economics and libertarian political economy.
Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered.
Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered.
When the bankers called for a central bank in the US, they claimed to only want a way to stop bank runs. It turns out that they wanted—and got—much more. The permanent regime of inflation and asset bubbles is the result.
With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy.
One sign of a fraying society is that its laws increasingly become political tools. The latest round involves Democrats trying to use criminal law in a very questionable way to try to put Donald Trump in prison, while Trump promises to retaliate if he is elected.
While the US Constitution made the US a large free trade zone, prohibiting states from erecting trade barriers against each other, it also empowered the central government to erect tariffs on goods imported from outside the country.
John Maynard Keynes is the best-known economist from the 20th Century, that not being a good thing. At least he was more famous for his success in promoting his views than for his lack of success as an investor. His failures were an extension of his lack of economic understanding.
As Murray Rothbard often noted, freedom of association is a fundamental right, what he called a “subset of private property rights.” Unfortunately, our modern cancel culture has taken aim at this right, taking away the voluntary nature of human interaction.
Original article: Survey Says: Disconnects Abound in School Opinions and Knowledge
Government education is a self-perpetuating monster and has been for a long time. While parents and organizations seek accountability, the dynamics driving government education point to a powerful and unaccountable bureaucracy that serves its own interests.
Democracy, or at least the “democracy” that ensures the “right people” are elected, is the religion of American progressives. Despite its obvious failures, however, progressives claim that democracy is the Holy Grail of governance. Why people believe this is another question.
In its so-called war against “hate,” the state determines who are the villains and then instructs everyone else to hate the “haters.” As one might expect, the state then engages in a campaign of vilification and intimidation against the newly-designated enemy.
In its so-called war against “hate,” the state determines who are the villains and then instructs everyone else to hate the “haters.” As one might expect, the state then engages in a campaign of vilification and intimidation against the newly-designated enemy.
Legal philosopher Jeremy Waldron in his book The Rule of Law and the Measure of Property challenges the Lockean view of legitimate property ownership. David Gordon sheds light on Waldron's confusing positions.
As American culture becomes dominated by militant feminism, a new voting group of dissenters is arising: young male voters. These are young men that believe that the system is stacked against them, which is why Trump's populism appeals to them.
We have crossed the boundary that lies between Republic and Empire.
The election is upon us. We wonder whether we have to have war, tariffs, and deficit spending, regardless of whom we support. What are we to do?
The 2024 election will provide few solutions to the underlying pressures eroding American political norms. Regardless of the outcome, half the country will feel like they live under an occupational government.
The sweep of history shows that there are two main dangers to liberty, one that comes from the left and the other that comes from the right.
