People often ask me, “What do you think the government should do instead of QE inflation?” My stock answer is that the government should not try to fight the depression with government spending and cheap credit. Trying to stop the market from correcting the errors of the past only delays the consequences and makes them much worse. Government
With summer upon us and temperatures rising, we should stop and thank our lucky stars for air conditioning — and wish upon the same stars that government won’t destroy it, because it seems to be trying to do so. Willis Haviland Carrier invented the modern air conditioner in 1902. Thomas Midgley Jr. created the first chlorofluorocarbon gas, Freon,
[An MP3 audio file of this article, narrated by the author, is available for download .] Got Milk? Most Americans think they drink milk on a regular basis. In fact, virtually all these people are consuming pasteurized milk, not milk. Milk in its natural state — raw milk — is consumed by very few Americans, because it is illegal in many states
[An MP3 audio file of this article, narrated by the author, is available for download .] Suddenly the world is abuzz with talk about legalizing marijuana and other drugs. Political candidates, politicians, former presidents, interest groups, and even the Global Commission on Drug Policy are all calling for drug-policy reform. Given that we are
[An MP3 audio file of this article, narrated by the author, is available for download .] The Panic in Needle Park was a 1971 movie starring Al Pacino, about a heroin addict couple whose life spins out of control. It was set in a New York City park frequented by heroin dealers and heroin addicts. The other well-known “needle park” operated in
Currently, the big show in Washington, DC, centers around raising the debt ceiling. Congress began setting this ceiling in 1917 so that the Treasury could independently issue debt. The debt ceiling is like the limit on your credit card, except the federal government sets the limit on itself. When President Nixon took us off the gold standard in
You might have the impression that everyone has switched from beer to red wine, or that everyone has switched from Budweiser to microbrews, homebrew, and high-gravity beers. However, do not count out the good old American cocktail. It is true that beer has lost market share and wine has gained market share, but by far the biggest winner in recent
[An MP3 audio file of this article, narrated by the author, is available for download .] The senseless Batman killings in Aurora, Colorado, as well as those that occurred years earlier in Columbine a few miles away, have something in common with the number one cause of overdose deaths in the United States and an important potential cause of teen
The only good thing about the 2012 campaign — other than its being over — is that much progress was made on marijuana policy. Marijuana was legalized in two states, Colorado and Washington. Medical-marijuana legislation passed in Massachusetts. Marijuana was decriminalized is several major cities in Michigan and Burlington, Vermont, passed a
Editor’s Note: Business scandals often lead to calls for greater regulation. Yet, as economist Mark Thornton shows, in so many recent scandals, regulators have been among the chief culprits. The Democratic Party had its message on the economy well-prepared for the recent election. From President Obama to his campaign directors to campaign
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. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
