Mises Wire

Intellectual property laws provide another example of how government stifles innovation and competition.

Humanitarianism served as an excuse for colonial rule over "backward" natives and provincials for centuries. The elites of the imperial governments insisted only they could provide enlightened government. Today, the same thinking lives on among countless advocates for centralized government and foreign intervention. 

One doesn’t need to search modern economic literature to take on the MMT crowd. Just read Bastiat.

Government employees generally have sweeter pension plans compared to private-sector employees, but government pensions are purposely underfunded. No worries for government employees: taxpayers will pick up the slack.

Government efforts to expand “aggregate demand” involve new spending and money creation. In reality, these activities destroy wealth in the name of expanding it.

While the “Great Reset” involves an unholy alliance between governments and big businesses, implementing its policies is impossible without central banks suppressing interest rates. Now that rates are rising, people are finding firsthand the real costs of the “Great Reset.”

Money is far too important to be left in the hands of bankers and of Establishment economists and financiers. To accomplish this goal, money must be returned to the market economy, with all monetary functions performed within the structure of the rights of private property and the market.

As the recent election of Javier Milei in Argentina shows us, there still is a place in the political world for libertarian thinking. Liberty is a goal still worth pursuing.

Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.

Under free competition, and without government support and enforcement, there will only be limited scope for fractional-reserve banking. Banks could form cartels to prop each other up, but generally cartels on the market don’t work well.