Mises Wire

Voting is controversial among Austro-Libertarians for many reasons. However, if one does choose to vote, one should understand that the state is never constrained by the voters and cannot be “reformed.”

As with any other government-controlled institution, a high level of public skepticism about elections is healthy.

The iconic Hermès Birkin bag helps illustrate Carl Menger’s “Theory of the Good,” and Ludwig von Mises’s explanation of human action.

Nicolaus Copernicus is best known for his observation that the sun was at the center of our solar system, but he also made a number of astute observations about economics. 

While men like Murray Rothbard and Ludwig von Mises believed in “just” war, nonetheless, they did not believe that wars lead to “just” outcomes, as war leads to destruction of civilization. The outcome of the American war of secession proved that point eloquently.

One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.

Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France's minister of finance.

No interventionist government or central bank wants lower prices because inflation allows the government to increase its power while slowly breaching its monetary commitments.

Had Republicans not vastly expanded federal criminal law during the infamous Wall Street prosecutions 40 years ago, lawfare would not have become such a potent political weapon.

In this review of Scott Horton's book, Enough Already, we see that the wars the US has waged for the past quarter century in the Middle East have been a disaster. Millions of deaths and a massive refugee crisis later, the unmistakable verdict is in.