Mises Wire

Anyone who has taken a Keynesian-based macroeconomics course remembers the equation of exchange: MV = PY. This equation, however, is buried in fallacious economic thinking.

Progressives are fond of telling us that we are under a "social contract" with the government, in effect justifying whatever abuses authorities inflict. Putting up with massive inflation is the latest iteration of this so-called contract.

Proponents of socialism claim that it promotes ownership "by the people." Yet the people that actually control resources and production are not the same people who allegedly are the "rightful owners" in society

The US dollar is not the world's "reserve" currency because of responsibility on behalf of the monetary authorities. Instead, the dollar's "strength" wages from the USA's self-appointed role as the world's protector.

Virtue-signaling politicians in New Jersey have banned single-use plastic bags, claiming to "help the environment." They need to read Hazlitt's Economics in One Lesson instead.

A winning political strategy, especially among Democrats, is to accuse their political opponents of racism, or at least "closet" racism. Yet simple economic analysis shows such accusations are illogical.

Sound economic reasoning highlights a major difference between social sciences and the natural sciences. We cannot rely on observation and measurement to gain understanding of social phenomena.

Language is at the front lines of the battle over institutions.

The former Romanian dictator Nicolae Ceaușescu not only arrested and murdered political opponents but also misdirected vast sums of money toward socialist schemes that failed, leaving Romanians even worse off.

In this politicized age, being an American means little more than being subject to the federal government. Yet, as Rothbard noted, we are not "the government," but rather people who are part of like communities, which we should celebrate.