Mises Daily

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Nowadays, Health Insurance Isn’t Really Insurance

Mises DailyJuly 30, 2015
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?

Mises DailyJuly 29, 2015
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

Mises DailyJuly 28, 2015
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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Today's Anti-Capitalists Ignore the Fundamental Problems of Socialism

Mises DailyJuly 27, 2015
Full-on anti-capitalism is again fashionable. The supporters of the latest surge in socialist sympathy relies on the idea that socialism can better deliver a decent standard of living. But without functioning markets, such a goal will prove impossible.

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Doomsayers Doomed in Washington State Marijuana Debate

Mises DailyJuly 25, 2015
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

Mises DailyJuly 24, 2015
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

Mises DailyJuly 23, 2015
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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An International Austrian: A Conversation with Carmen Elena Dorobăț

Mises DailyJuly 22, 2015
In this short interview, Carmen Elena Dorobăț, assistant professor of international business at Coventry University, discusses Austrian economics and her work as a summer Fellow at the Mises Institute.

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How a Labor Union Keeps Mixed Martial Arts Illegal in New York

Mises DailyJuly 21, 2015
Mixed martial arts competitions are legal in 49 states, but not in New York where an interest group keeps the sport illegal in an effort to punish a pair of businessmen.

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The Fed’s Confusion Over the "Natural Rate" of Unemployment and Inflation

Mises DailyJuly 20, 2015
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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