Mises Daily Articles

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We're Taught to Revere Schoolteachers. So Why Are They Paid So Little?

The EntrepreneurFree MarketsPrices

07/31/2021Mises Daily Articles
In the case of both athlete and teacher, the rarity of the skill and the number of people who benefit from the individual determines how much they're paid.
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Why Capital Goods Are the Key to Economic Progress

Free MarketsEntrepreneurshipPraxeologyProduction Theory

07/27/2021Mises Daily Articles
Capital goods become available thanks to secure private property rights, and a class of people willing to save and invest. Without this, there can be no great progress in the standard of living. But, it all takes time.
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Woodrow Wilson's "Second Personality"

BiographiesU.S. HistoryWar and Foreign Policy

07/09/2021Mises Daily Articles
The term most frequently applied to Woodrow Wilson nowadays is "idealist." The expression "power-hungry" is rarely used. Yet one scholar friendly to Wilson has correctly described him as one who "loved, craved, and in a sense glorified power."
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What Does Marginality Mean?

06/04/2021Mises Daily Articles
Robert Murphy explains what it means to act "on the margin" or to think in terms of "marginality." Economists use the term often. The Mises Circle in interwar Vienna even had songs with refrains that included the words "marginal utility." Here is your one-article guide to understanding what all the...
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What "Capitalism" Really Means

Free MarketsHistory of the Austrian School of Economics

12/12/2020Mises Daily Articles
Big business, the target of the most fanatic attacks by the so-called leftists, produces almost exclusively to satisfy the wants of the masses. In fact, serving the masses is the main occupation of the "capitalist."
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Why Historical Revisionism Matters

World History

10/23/2020Mises Daily Articles
Historical revisionism is the process of unmasking government excuses for the state's many crimes.
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Why Ideas Dictate What We Think Is in Our Self-Interest

Free MarketsWorld HistoryOther Schools of Thought

08/20/2020Mises Daily Articles
It is ideas that determine what people consider as their interests. Free men do not act in accordance with their interests. They act in accordance with what they believe furthers their interests.
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What If Public Schools Were Abolished?

EducationFree MarketsInterventionism

07/14/2020Mises Daily Articles
If we could abolish public schools and compulsory schooling laws, we would have better schools at half the price—and be freer too.
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What Is Entrepreneurship?

The EntrepreneurU.S. EconomyEntrepreneurshipProduction TheoryValue and Exchange

04/11/2020Mises Daily Articles
Formal models of the economy, writes Murray Rothbard, tend to overlook a crucial instrument of change: entrepreneurship.
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Working around Leviathan

Big GovernmentGlobal EconomyU.S. HistoryPhilosophy and Methodology

01/16/2020Mises Daily Articles
It's a paradox: never before has a government in human history assumed unto itself the power to regulate the minutiae of daily life as much as this one. At the same time the United States is overall the wealthiest society in the history of the world.
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