Mises Wire

More units of public debt mean weaker productive growth, higher taxes, and more inflation in the future. All three are manifestations of a slow-burn default.

Libertarianism is criticized on all sides, but a new criticism has emerged that claims libertarianism is little more than another form of critical theory. Like the other complaints, this one is based on fallacious thinking.

The academic world is supposed to serve as a beacon of enlightenment. Instead, as Wanjiru Njoya demonstrates, it promotes a failed liberalism.

Biden has embraced the trade war. But, if protectionism actually produced competitiveness, American steel manufacturers would have become world leaders long ago. 

Almost all of the climate hysteria is driven by the “luxury beliefs” held by Western elites. Only the wealthiest can afford the effects of climate policy. 

Tariffs are nothing more than taxes, which means that protectionists believe high taxes create prosperity. This is an absurd claim. 

Lying between Taiwan and Mainland China, Kinmen Island would almost surely be the first place Chinese armies would land if they were to invade Taiwan. Kinmen also serves as the tripwire to bring the US into a China-Taiwan conflict.

George Ford Smith reviews Robert Murphy’s book Understanding Money Mechanics. Murphy, he writes, both explains money and why fiat money is such a dangerous thing in the hands of governments bent on grabbing power and abusing citizens.

While Social Security is not exactly a pension system, it has had a negative effect on private pension plans and has discouraged people from engaging in long-term savings. In the end, its negative effects outweigh the positive ones.

As Murray Rothbard noted, reason is a powerful tool to help us discern how to thrive in our world. Government, through propaganda and interference with education, seeks to stifle reason and replace it with obedience to the state.