Mises Daily Articles

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The Conquest of the United States by Spain

Free MarketsGlobal EconomyOther Schools of Thought

10/06/2017Mises Daily Articles
A modern economist stands aghast at the economic measures adopted by Spain … inspired by some demon of folly, they were so destructive to her prosperity...

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The Genius of Carl Menger

BiographiesHistory of the Austrian School of Economics

09/26/2017Mises Daily Articles
For Menger, economic activity is essentially just planning for the future.

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The NFL Draft and the Division of Labor

Free MarketsInterventionism

04/27/2017Mises Daily Articles
The division of labor allowed Mel Kiper Jr. and Joel Buchsbaum to create a niche doing what they love: writing football draft reports.

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The War On Cash: Why Now?

Booms and BustsMoney and BanksMoney and Banking

07/29/2015Mises Daily Articles
Physical cash has long been problematic for governments because it allows people to avoid the banking system, which in turn can lead to tax avoidance and bank runs. It’s much easier to control an economy when all money must remain in banks...

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The Fed’s Confusion Over the "Natural Rate" of Unemployment and Inflation

The FedMoney and BanksMoney and Banking

07/20/2015Mises Daily Articles
The Fed often uses the "natural rate" of unemployment to determine whether or not it should raise interest rates. But as with so many metrics the Fed uses, this one is based on arbitrary measures that can be manipulated to suit Fed policy...

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The Intellectual Intolerance Behind “Check Your Privilege”

EducationPhilosophy and Methodology

07/18/2015Mises Daily Articles
Strictly speaking, the phrase "check your privilege" could be an invitation to debate. But in practice, it is all too often an attempt to shut down debate and to make a personal attack on one's opponent in the name of "tolerance."...

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The Broken Window Fallacy and "Blessings" of Destruction in the Real World

Booms and BustsHistory of the Austrian School of EconomicsPhilosophy and Methodology

07/15/2015Mises Daily Articles
It's been a light season for hurricanes and tropical storms in North America, and contrary to what many economics "experts" may think, that's a good thing. After all, natural disasters are extremely costly in terms of opportunity costs and capital...

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The Pope Should Listen to Tom Woods

Media and CultureInterventionismPrivate Property

06/24/2015Mises Daily Articles
Tom Woods’s book The Church and the Market revolutionized the economics debate among Catholics, and it explained how religion cannot replace economic science any more than it can replace physics. Understanding reality, and how to seek religious ends within it, depends on good science...

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The Futility of Our Global Monetary Experiment

Global EconomyMoney and BanksMoney and Banking

06/13/2015Mises Daily Articles
The world's central banks have been pouring new money into the financial system, which has produced a dangerous amount of distortion to prices in the market. And what do we have to show for it? Economic growth is anemic, at best...

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Technology Needs Capital To Produce Economic Growth

Capital and Interest TheoryEntrepreneurship

06/08/2015Mises Daily Articles
Krugman is confused as to why so much technological growth in recent years has not led to more economic growth. The answer lies in the fact that true technological change requires funding — and thus real savings — to be implemented...

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