Those carrying out government directives are even less bound by law than they were a few years ago, and talk about new bureaucrats is beginning to resemble the Kremlinology of the Cold War.
Audio Mises Wire
Audio recordings of Mises Wire articles, offering contemporary news and opinion through the lens of Austrian economics and libertarian political economy.
One important difference between the Austrian and other schools of thought is the emphasis Austrians place upon purposeful human behavior. Consumption by individuals is not random, but rather purposeful action driven by subjective individual preferences.
"Hurry up and wait" is often the reality of medical care. We shouldn't be surprised to know that long lines and government intervention go together.
Bitcoin is many things to people and it certainly has developed into a valuable asset. It also has been used as a medium of exchange. But is it money? According to Austrian economics, the answer is “no.” At least not yet.
In replying to a previous article by Frank Shostak, Douglas French writes that if an increase in the supply of gold ultimately leads to an expansion of bank credit, that is enough to start the boom-and-bust cycles, even if there is no central bank to accelerate the process.
Much of the failure of American schools is due to the adherence to a flawed system of teaching students how to read. Homeschoolers often don‘t seem to have that problem, and there is a good reason why.
The Biden administration, and the political establishment more broadly, is scrambling to ram through policies that a majority of voters just voted against. Their actions expose that their supposed commitment to democracy is a lie.
Ralph Raico presents the fundamental political problem of the twentieth century, which remains our fundamental political problem today: How can war—given its appalling destruction—be avoided?
Modern academics are relentless in trying to find any nuances they can from the works of Karl Marx, but they miss the larger issues with his work. Marx was alive and active when the marginalists logically took apart his value theory, but hope springs eternal for Marx‘s supporters.
A modern misconception of antebellum slavery is that it “built the country.” Actually, the institution of slavery, economically speaking, was a deadweight loss to the US economy.
Washington has wielded the sanctions weapon against nearly a third of all nations on earth. It is time to rethink these policies, and one hopes the incoming Trump administration will do just that and change course.
While the US dollar still is the world‘s “reserve” currency, its abuse by the Federal Reserve and federal government has weakened it precipitously. While President-elect Trump recognizes the threats to the dollar, is he willing to do what needs to be done to change the situation?
Progressives are openly cheering the murder of the CEO of UnitedHealthcare. However, it was progressive legislation that created this healthcare crisis in the first place.
President-elect Trump has promised changes in economic policies. How well they work and how they will affect us remains to be seen. Here is a look at proposals that have promise—and proposals that are likely to cause harm.
Democracy is the watchword with the ruling classes, yet a democratic political system does not protect individual freedoms. Indeed, democracy often has become the main road to socialism. It‘s time for some honest discussion.
Some legal “experts” are claiming that the Supreme Court‘s infamous 1857 Dred Scott decision is still used in current law. That, of course, is nonsense. In fact, soon after its passage, many northern states essentially nullified “Scott” at the state level.
The Mises Institute is giving away copies of Murray Rothbard's classic, What Has Government Done to Our Money? and it will change how one sees our nation's monetary history. Rothbard presents a clear case for sound money as a basis for civilization itself.
Even though the Pentagon has failed seven audits in a row, defense spending is now 60 percent higher (in real terms) than its old Cold War peak.
Marx is often portrayed as motivated by love of the working class, but, starting from the time he was a university student, he displayed contempt and hatred for the masses he deemed beneath him.
In November, employed workers flatlined yet again as full-time work dropped for the tenth month in a row. Naturally, the Fed plans interest rate cuts.
