Mises Daily Articles

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Chinese Savings vs. American Spending

Booms and BustsGlobal Economy

01/01/2015Mises Daily Articles
One thing the Chinese regime has not managed to do is erase the Chinese fondness for saving money. But in America, where over one-third of the population is on public assistance, it spends as much as possible.
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Correcting Scrooge’s Economics

Media and CultureValue and Exchange

12/24/2014Mises Daily Articles
Ebenezer Scrooge is guilty of no crime, but he is a bad economist. This is demonstrated by Scrooge's ignorance about the subjective nature of value, and by his insistence that he is being robbed by his clerk who negotiates a day off.
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Cryptocurrencies and a Wider Regression Theorem

Money and BanksMoney and BankingValue and Exchange

12/11/2014Mises Daily Articles
If cryptocurrencies like bitcoin are being used as money, and if Carl Menger correctly tells us that money must have some kind of antecedent value, then as economists it becomes our job to discover what exactly is that antecedent value. A fresh reading of Menger's Regression Theorem provides...
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Czechoslovakia’s Velvet Revolution: 25 Years Later

Global EconomyWorld HistoryInterventionism

11/28/2014Mises Daily Articles
The Velvet Revolution, during which the people of Czechoslovakia revolted against their communist masters, turns twenty-five years old this month. Many people from formerly-communist economies have learned much from the experience, even if many in the West have not.
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Central Banks Are Not Innocent Bystanders

The FedMoney and BanksBusiness Cycles

11/17/2014Mises Daily Articles
The Economist recently opined that interest rates don't affect investment. This claim is based on an empirical study that contradicts what we already know: that lower prices lead to more demand. In the end, the problem lies with the researches who fail to account for the behavior of central bankers.
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Can Anarcho-Capitalism Work?

Free MarketsPolitical Theory

11/14/2014Mises Daily Articles
The term “anarcho-capitalism” has, we might say, rather an arresting quality. But while the term itself may jolt the newcomer, the ideas it embodies are compelling and attractive, and represent the culmination of a long development of thought.
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Could the ‘Taylor Rule’ Have Prevented the Housing Bubble?

Money and BanksOther Schools of Thought

10/28/2014Mises Daily Articles
Tom Woods and Mateusz Machaj discuss the problem with John Taylor's rule for monetary policy.
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Can Austrian Theory Help Financial Prediction?

Financial MarketsPhilosophy and Methodology

10/11/2014Mises Daily Articles
Data alone doesn't tell you the whole story, which is a core proposition of the Austrian approach. Instead, you need to start with good theory that tells you which data you need and where to look next.
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Clean Water, Scarcity, and Market Prices

The Environment

09/04/2014Mises Daily Articles
Many people are willing to donate much money to clean up government-owned lakes and streams and to spend many hours fundraising and complaining about pollution. But suggest to those people they should just pay market prices for access to those same bodies of water, they become indignant.
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Carl Menger’s Revolution

History of the Austrian School of Economics

08/13/2014Mises Daily Articles
Discrete marginalism, despite being non-mathematical, is superior to neoclassical marginalism. Usage of derivatives is not a sign of a more scientific method.
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