A free market economy does not generate jobs or money. Instead, it creates wealth through exchange and production. Government intervention, contrary to what mainstream economists believe, does not enhance wealth, but instead destroys it.
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Audio recordings of Mises Wire articles, offering contemporary news and opinion through the lens of Austrian economics and libertarian political economy.
By their nature, free markets promote harmony between people and increase overall standards of living. This view is radically different from the ones promoted by Marxists who believe that only “class interests” matter.
Totalitarian bureaucracy necessitates a constant state of crisis and there is no better creator of crises than imperial machinations.
Like Santa, who gives free gifts to our children, people think of the state as providing services “for free.” However, the state cannot provide anything without first confiscating wealth from others—like the Grinch, who first stole all the presents in Whoville.
A common refrain among college fans is, "The Transfer Portal and NIL are ruining college sports." But are they? Before we can answer that question, we have to be able to explain what is happening, and Austrian economics provides the best analytical tools.
Britain‘s new Labour Government is doing what leftist governments always do: raising taxes on everyone, but pretending that only the wealthiest citizens will pay more. Middle-class British farmers are quickly finding out that the taxman is coming for them too.
President-Elect Trump has been threatening tariffs against BRICS countries unless they abandon their plans to abandon the US dollar. While Trump may come off as being "tough" in his negotiations, he cannot bluster his way to a stronger dollar, thanks to reckless monetary policies.
Perhaps John Maynard Keynes' best con job was convincing people that a growing economy needs inflation, lots of inflation. As David Gordon points out, however, Ludwig von Mises eloquently explained why inflation undermines the free market economy.
No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing, praxeologically speaking. Instead, it clouds our understanding of how money fits into our economy.
The Trump team plans to tinker with government spending, but this does nothing to address the real problem which is the current inflationist monetary experiment.
Most editorialists and pundits have labeled Jimmy Carter's presidency a failure, but his activities after he left office as a rousing success. The truth is that his successful deregulation efforts have left a positive and lasting legacy.
Higher education has managed to con huge numbers of young people to take out six-figure loans in order to have the “college experience.” However, the so-called benefits to college are turning out to be a chimera, all funded by increasing indebtedness.
The Cultural Revolution continues apace in this country and it is aimed at all of the old Confederate symbols from statues to the Confederate Battle Flag. With leftist progressives there can be no discussion. Any symbol from the South equates to racism and nothing else.
Thanks to the Fed's balance sheet and the Fed's policy on reverse repurchase agreements, it's hard to tell whether the Fed is being hawkish or dovish.
The Austrian school recognizes that economic analysis is timeless and the ancient story of “The Poor Man of Nippur” provides an excellent example. From time preference to the structure of production, many of the lessons are contained in this story.
One of the fallacies pushed by monetary economists is that a growing economy needs a growing supply of money in order to prevent deflation, which they claim is as harmful as inflation. However, as Austrians point out, there is no “optimum” amount of money in the economy, since prices adjust.
Fifty years ago today, December 11, 1974, F.A. Hayek gave his Nobel Lecture in Sweden. The conflict between what the public expects science to achieve in satisfaction of popular hopes, and what is really in its power, is a serious matter.
President-elect Donald Trump has declared that he will raise tariffs his first day in office. Our economy, however, does not need government-created roadblocks to trade. Instead, we need free exchange and sound money.
The child-like obsession with buying stuff that American society is often criticized for around Christmas is a sought-after result of our government’s monetary policy.
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.
