Mises Daily Articles

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Michel Chevalier’s Case Against the Patent System

World HistoryMonopoly and CompetitionPrivate Property

04/17/2015Mises Daily Articles
Largely forgotten in the English-speaking world today, French laissez-faire economist Michel Chevalier was an early opponent of patents, which he dismissed as a type of monopoly and an obstacle to technological and intellectual progress.
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Middle Eastern Barriers to an Agile Marketplace

Global Economy

03/25/2015Mises Daily Articles
The Middle East once enjoyed unprecedented economic prosperity, but thanks to centuries of bureaucratic centralization and institutional barriers to free-market growth, the modern Middle East has long since fallen behind the West.
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Moving Money Around Won’t Make Us Richer

Booms and BustsMoney and BanksMoney and Banking

01/28/2015Mises Daily Articles
At the individual level, we can't get rich by spending money, but Keynesian stimulus is built on the idea that yes, spending money does in fact make you richer. Unfortunately, it only makes some people richer, not including you.
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Markets Restrain Bank Fraud, But Central Banks Enable It

Booms and BustsMoney and BanksMoney and Banking

01/20/2015Mises Daily Articles
If given a choice, people will avoid paper money that is declining in value, thus putting a restraint on inflationary bank notes. To shield banks from this, they turned to a monopolist central bank that issues legal tender and helps private banks inflate.
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Multiple Currencies and Gresham’s Law in Zimbabwe

Money and BanksMonetary TheoryMoney and Banking

01/08/2015Mises Daily Articles
Zimbabwe, in the aftermath of years of hyperinflation, today has nine different currencies that are officially legal tender. The emerging system of multiple currencies offers a chance to make some interesting observations.
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More DC Lies on Debts and Spending

Big GovernmentU.S. Economy

12/08/2014Mises Daily Articles
DC budget spinners are at it again, claiming that deficits are melting away and the national debt is no big deal. In fact, debt and spending are just as out-of-control as ever, and if interest rates go up, we’re in deep trouble.
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Middle-of-the-Road Policy: Lessons from Argentina and Venezuela

Global EconomyWorld HistoryInterventionism

11/15/2014Mises Daily Articles
Ludwig von Mises held that middle-of-the-road policy in economic interventionism eventually leads to widespread socialism. With price controls, protectionism, and rampant inflation, Venezuela and Argentina have proven him right.
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Moral Hazard and Socialism in Collective Security Agreements

War and Foreign PolicyInterventionism

11/03/2014Mises Daily Articles
Collective security agreements allow many countries's politicians to shift the cost of national defense to taxpayers outside their own countries. Moral hazard, belligerence, and over-reliance on military solutions often ensue.
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Money, Subjective Value, and Gold

Gold StandardMoney and Banking

10/30/2014Mises Daily Articles
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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More Politics Means More Conflict

U.S. HistoryPolitical Theory

10/28/2014Mises Daily Articles
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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