Mises Daily Articles

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Mises’s Lasting Legacy

BiographiesHistory of the Austrian School of Economics

09/28/2016Mises Daily Articles
It was Mises's misfortune that during his life his economic and political ideas were so out of fashion. But, his legacy is lasting and strong.

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Why Mises (and not Hayek)?

Free MarketsHistory of the Austrian School of EconomicsOther Schools of Thought

09/12/2016Mises Daily Articles
Mises and Hayek are widely considered the most eminent liberal thinkers of the twentieth century. But, there are differences in their two legacies.

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Nowadays, Health Insurance Isn’t Really Insurance

Big GovernmentFree MarketsPrices

07/30/2015Mises Daily Articles
Life insurance works well because insurance companies can weigh the risk of life-altering events against total payments made by the customer. But modern health "insurance" doesn't work that way and is really just a wealth-transfer scheme that now ignores risk and true costs...

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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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If Spending Is Our Military Strategy, Our Strategy Is Bankrupt

Taxes and SpendingU.S. EconomyWar and Foreign Policy

07/28/2015Mises Daily Articles
For decades, American military strategy has amounted to little more than outspending all adversaries. Vietnam and Korea showed this strategy sometimes fails, although it often works as long as the money keeps flowing. But the financial good times won’t last forever...

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Doomsayers Doomed in Washington State Marijuana Debate

The Police StateU.S. HistoryInterventionism

07/25/2015Mises Daily Articles
Legal recreational marijuana has now been legal in Washington State for two and a half years. During that time, violent crime has decreased, and the doom-laden predictions of opponents to legalization have failed to come true.

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Immigrants Aren’t the Only Ones Who Shouldn’t Be Voting

Taxes and SpendingU.S. EconomyPolitical Theory

07/24/2015Mises Daily Articles
Many commentators focus on immigrants when declaring that people who live off government spending should not be able to vote. However, there is no lack of longtime citizens who also have an incentive to keep the tax money flowing as long as possible.

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Central Banks and Our Dysfunctional Gold Markets

Gold StandardMoney and BankingPrices

07/23/2015Mises Daily Articles
Gold prices are subject to manipulation in a variety of ways from the private sector, central banks, and governments. To see how gold fits into markets, we must look to see how "official" and "unoffocial" prices for the yellow metal are being shaped...

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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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