Mises Daily Articles

Displaying 1 - 10 of 2079

The Myth of the Unchanging Value of Gold

Gold StandardMonetary Theory

02/12/2024Mises Daily Articles
Many economics textbooks claim that a function of money is to measure the value of goods. In fact, the value an individual attaches to a given sum of money or to any kind of good (including gold) is based on a subjective judgment and is without physical dimensions.
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The Promise of Human Action

Praxeology

01/23/2024Mises Daily Articles
Indeed, if we look at the failure of the welfare state, the persistence of the business cycle, runaway inflation, and out-of-control debt, we'll see that each is addressed and predicted in ' Human Action .'
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The Real Meaning of Inflation and Deflation

BiographiesHistory of the Austrian School of EconomicsMonetary TheoryPraxeology

01/02/2024Mises Daily Articles
If one looks at the catastrophic consequences of the great paper-money inflations, one must admit that the cost of making and holding gold is the minor evil. It would be futile to retort that these catastrophes were brought about because the regime merely used fiat money improperly.
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The Christmas Truce of World War I

Book ReviewsFree MarketsWar and Foreign PolicyWorld History

12/25/2023Mises Daily Articles
Never forget the Christmas truce of World War I, when troops refused to be pawns of empire for one blessed day.
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The Myth of the Failure of Capitalism

Free MarketsHistory of the Austrian School of EconomicsInterventionism

12/09/2023Mises Daily Articles
Socialism and interventionism have not yet succeeded in completely eliminating capitalism. If they had, we would, after centuries of gains in prosperity, rediscover the meaning of hunger on a massive scale.
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The Marxian Doctrine of "Ideology"

Free MarketsOther Schools of Thought

07/29/2023Mises Daily Articles
To Marx, each individual's thinking is all determined not by his personal self-interest but by the interest of the class to which he supposedly belongs.
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Technology Is Meaningless without Entrepreneurship

The Entrepreneur

06/20/2023Mises Media
Entrepreneurship develops uses for technology.
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The Market Process Is Not a Knowledge Problem

HayekCalculation and KnowledgePricesProduction Theory

06/19/2023Mises Media
While F.A. Hayek's famous 1945 essay effectively critiques the "perfect information" hypothesis, it is an inadequate explanation of the issue of economic calculation.
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The Economic Nationalists Are Wrong: Free Trade Means Freedom and Prosperity

Economic FreedomEconomic PolicyFree MarketsProtectionism and Free Trade

06/15/2023Mises Media
During a debate on capitalism with James Otteson, Michael Anton opined that free markets are harmful to a nation's economy. Perhaps he needs to learn economics.
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The Republican Debt-Ceiling "Deal" Is Exactly What We Expected

Big GovernmentCronyism and CorporatismTaxes and SpendingU.S. Economy

06/14/2023Mises Media
Contrary to the still-enduring myth about Republican budget cutting, there is no correlation whatsoever between Republican control of DC and the trajectory of federal spending.
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