Mises Daily Articles

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Does Military Defense Require Large States?

Global EconomyThe Police StateWar and Foreign Policy

06/12/2015Mises Daily Articles
Opponents of secession and decentralization claim that secession is self-destructive because small states will find themselves defenseless in the face of military aggression. In fact, small states enjoy many advantages in wealth, flexibility, and decentralization that are lacking in larger,...

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Let’s Hope Machines Take Our Jobs: We Want Wealth, Not Jobs

The EntrepreneurValue and Exchange

06/11/2015Mises Daily Articles
What if machines took most of our jobs? Things would become less expensive, and humans would become wealthier in real terms, just as has happened since the Industrial Revolution began. Fear of labor-saving technology continues unabated, nonetheless.

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Economic Automatons Emerge to Attack James Grant's The Forgotten Depression

Money and BanksU.S. HistoryMoney and Banking

06/09/2015Mises Daily Articles
It appears that even economists are now being replaced by machines. At least it seems that way given a recent paint-by-numbers attack from the New York Times on James Grant's new book The Forgotten Depression ...

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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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The Myth of CEO Pay and "Greed"

PricesValue and Exchange

06/06/2015Mises Daily Articles
We’re often told that CEO pay is outrageously high and that increases in executive pay comes at the expense of worker pay. If we look beyond the few examples used by the pundits, however, we find that these oft-repeated “facts” are anything but...

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How Governments Keep You (and Your Money) From Leaving

Big GovernmentGlobal EconomyTaxes and Spending

06/05/2015Mises Daily Articles
Governments don’t like it when citizens emigrate to escape high taxes and other government-imposed costs. Governments would much rather keep productive citizens and their money at home. Bigger countries find it’s much easier to keep us in...

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Don’t Trust the Economic Oracles

Global EconomyPhilosophy and Methodology

06/04/2015Mises Daily Articles
Mathematical economic models have a poor record of making accurate predictions, which makes sense since human action cannot be quantified by numbers. On the other hand, an understanding of sound economics can help us make good qualitative predictions.

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Japan’s Easy-Money Experiment and the Future

Global EconomyMoney and BanksMoney and Banking

06/03/2015Mises Daily Articles
Japan finally joined the US and the EU in their grand 2-percent-inflation-forever experiment in 2005. Many Japanese politicians have benefited from this. Meanwhile, nothing has been done in Japan to actually help the economy defend itself against the next economic disaster.

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Is Ross Ulbricht a Libertarian Hero?

Legal SystemThe Police StatePolitical Theory

06/02/2015Mises Daily Articles
The state was being even more sadistic than usual when it handed down an unwarranted life sentence to Ross Ulbricht. Many libertarians hail Ulbricht, founder of Silk Road, as a hero of freedom. But did he really forward the cause of free markets?

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The Meaning of Financial Repression

The FedMoney and BanksMoney and Banking

06/01/2015Mises Daily Articles
Governments worldwide are turning to "financial repression" to manipulate the economy through easy money and aggressive regulation. In the end, we'll find it will amount to little more than slapping a band-aid on a serious problem.

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