Mises Daily Articles

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The Austrian Theory of Money

History of the Austrian School of EconomicsMoney and Banking

07/02/2019Mises Daily Articles
Mises's fundamental accomplishment was to take the theory of marginal utility and apply it to the demand for and the value, or the price, of money.
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The Alleged Absence of Depressions under Totalitarianism

Business CyclesHistory of the Austrian School of EconomicsMonetary TheoryOther Schools of Thought

06/21/2019Mises Daily Articles
Where there is no business at all, business can be neither good nor bad. There may be starvation, and famine, but no depression in the sense in which this term is used in dealing with the problems of a market economy.
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The Velocity of Circulation

Financial MarketsHistory of the Austrian School of EconomicsMonetary Theory

06/20/2019Mises Daily Articles
Increased velocity of circulation is not, in itself, a contributing cause of higher commodity prices. It is not even a link in the chain of causation.
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The Righteous Bosses of the New Deal

Booms and BustsU.S. HistoryInterventionismOther Schools of Thought

06/17/2019Mises Daily Articles
In much of America, the New Deal was run by a small number of very powerful political bosses.
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The Popular (and Wrong) Interpretation of the "Industrial Revolution"

Free MarketsWorld HistoryEntrepreneurshipHistory of the Austrian School of Economics

06/04/2019Mises Daily Articles
Far from being a bucolic utopia, economic conditions were highly unsatisfactory on the eve of the Industrial Revolution. The traditional social system was not elastic enough to provide for the needs of a rapidly increasing population.
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The Lure of a Stable Price Level

U.S. HistoryBusiness CyclesPrices

05/27/2019Mises Daily Articles
The siren song of a stable price level had lured leading politicians and economists since as early as 1911.
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The Regulatory-Industrial Complex

Free MarketsInterventionismOther Schools of Thought

05/17/2019Mises Daily Articles
In every administration, the tools of inflation, borrowing, taxation, and regulation are used to transfer wealth from the people to the government.
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The Case Against the Market Economy

Free MarketsInterventionismOther Schools of Thought

05/13/2019Mises Daily Articles
The objections raised against the market economy are based on very bad economics.
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The Rejection of Economics

Free MarketsHistory of the Austrian School of EconomicsPraxeologySubjectivism

04/15/2019Mises Daily Articles
All human action stems from the value judgments of individuals. Economics, properly understood, was never so foolish as to believe that all that people are after is higher incomes and lower prices.
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The Major Contributions of the Scholastics to Economics

EducationFree MarketsGlobal EconomyHistory of the Austrian School of Economics

04/08/2019Mises Daily Articles
The Scholastics were constrained in their development of economics by considerations of deference to authority and by the relatively slow development of the external economic conditions upon which to reflect.
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