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The World’s Largest Subprime Debtor: The US Government

After the 2008 financial crisis, banks were excoriated for lending sub-prime borrowers money. Now, in many ways, the US government is a huge sub-prime borrower itself, but when the day of reckoning comes, will anyone criticize the Federal Reserve for making the unsustainable debt-fueled spending spree possible?


Time Preference and Long-Term US Interest Rates

Long-term interest rates are going down, but many Fed observers, relying on expectations theory, wrongly think they should be going up. Mises and time preference, however, see the true trend more clearly.


Mises Economics Blog

Ryan McMaken: Some Recently Translated 'Mises Daily' Articles from South America
Our friends at other Mises Institutes around the globe seem to be really churning out the new translations these days. Here are several new ones: Portuguese: Cinco lições sobre o referendo escocês translated from Five Lessons Lea ... More »

Joseph Salerno: The First Carl Menger Prize Awarded!
The Verein für Socialpolitik is currently the largest association of German-speaking economists in the world.  It was founded in 1873 by economists of the German historical school and was chaired for many years by their leader Gus ... More »

Ryan McMaken: Summer's Over
Summer's over at the Mises Institute, but we had lots of great graduate and undergraduate students here this year for Mises University, Rothbard Graduate Seminar, and the Summer Fellows program. It's not too early to think about which 2015 pr ... More »

Ryan McMaken: White House: No Estimate on Costs of War on ISIS
Jason Ditz writes at Antiwar.com: The Obama Administration is seeking to avoid any discussion of the massive costs of the new war on ISIS, with the White House pointedly refusing to provide any estimates on what the war has cost so far, or ... More »

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In the Mises Store

Choice in Currency

A path-breaking essay by Hayek, newly in print in cooperation with the Institute of Economic Affairs, this piece first appeared in 1976, during an inflationary bout in the U.S.. Hayek saw that it was ... More »

Toward a Libertarian Society

Walter Block has for decades been one of the most effective and indefatigable defenders of libertarianism. One feature in his writing stands out, from his classic Defending the Undefendable to the pre... More »

Economics of Prohibition, The

It is conventional wisdom that alcohol prohibition failed, but the economic reasons for this failure have never been as extensively detailed or analyzed as they are in this study by Mark Thornton. Th... More »

Newly Updated E-books

"Woodrow Wilson's Defeat in Yugoslavia: The End of a Multicultural Utopia"

Making Economic Sense

Anatomy of the State

The Private Production of Defense

Liberty and Property



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