Mises Wire

We are seeing Joseph Schumpeter's concept of creative destruction at work in higher education. The shake-up will continue.

Supporters of the new California minimum wage law for fast-food restaurants claim it will bolster economic opportunity for lower-income people. It actually will be a wealth transfer from the poor to the rich.

The watchword in higher education today is decolonization, which depends upon what Ludwig von Mises called racial polylogism. Mises understood that polylogism undermines the very foundations of scientific thought.

Praxeology is the key to understanding economic relationships. While Ludwig von Mises emphasized human action while making economic observations, Christian philosopher Francis Schaeffer emphasized the importance of how individuals view the world.

The mentality of Build Back Better is not just confined to the US. Around the world, governments are resorting to the ancient tradition of using massive amounts of resources to build things that glorify the state, not add to the economy.

Israel’s defenders act like Netanyahu and his allies have had no choice but to react to October 7 in the manner that they have. But that isn’t true.

The Federal Reserve has repeatedly been a key component in boom and bust events in the global economy since the 1920s. China is the latest example. 

Politicians will invoke the venerable just war theory when they believe they can manipulate the facts in their favor. In truth, it is the rare government that engages in a justified conflict.

Contrary to popular belief, regulatory agencies do not improve the quality of our lives, nor do they provide safety or security. They need to be abolished, as free markets provide their own effective forms of regulation.

Ludwig von Mises was ridiculed for his assertion that “middle of the road” leads to socialism in the end. As the federal government swallows increasing amounts of the economy, we see that Mises was right.