Mises Daily

When Money Dies: Germany and Paper Money After 1910

Mises DailyOctober 31, 2014
After 1910, Germany increasingly relied on fiat money to pay the bills. It wasn't just the Treaty of Versailles that eventually led to hyperinflation, but an all-too-common policy of turning to inflationary monetary policy...

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Money, Subjective Value, and Gold

Mises DailyOctober 30, 2014
The quasi-gold standard promoted by Steve Forbes and Elizabeth Ames in their new book has more in common with the Bretton Woods system than with the classical gold standard.

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Austerity as Economic Liberation

Mises DailyOctober 30, 2014
Austerity is nothing more than allowing the private sector more control over what it produces. Those who argue against austerity are claiming that government will more wisely spend, invest, and save than private persons and firms.

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Nobel Winner Jean Tirole’s Faulty Views on Monopoly

Mises DailyOctober 29, 2014
Economics Nobel Prize winner Jean Tirole still clings to the old neoclassical model "perfect competition" and monopoly, in which there is no place for entrepreneurship, and which fails to grasp that consumers benefit more from a diversity of goods than a diversity of firms...

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Could the ‘Taylor Rule’ Have Prevented the Housing Bubble?

Mises DailyOctober 28, 2014
Tom Woods and Mateusz Machaj discuss the problem with John Taylor's rule for monetary policy...

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More Politics Means More Conflict

Mises DailyOctober 28, 2014
A recent study shows that one's political views are now the most widespread source of discrimination and conflict in American society. Politics is now more important than ever because the state is more powerful than ever...

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Obamacare Is Not a Revolution, It Is Mere Evolution

Mises DailyOctober 25, 2014
Liberty-loving people are right to be appalled by the Patient Protection and Affordable Care Act. However, just about every evil in the legislation has already been inflicted on the market through fifty years of state destruction of the healthcare market.

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Why Money Doesn’t Measure Value

Mises DailyOctober 24, 2014
Robert Murphy explains why people trade goods, and the role of money.

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The Many Ways the State Taxes the Poor

Mises DailyOctober 24, 2014
Contrary to the political myth, poor people do indeed pay taxes, and they pay into a system that robs them of control over how they can spend, save, or invest their own property. In addition, the poor are taxed by a perverse incentive structure that punishes their financial success.

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Public Accommodation and Social Engineering

Mises DailyOctober 24, 2014
Public accommodation laws that prohibit discrimination render property rights moot and create a legal system designed to force agreement with the state's official moral code...

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