Mises Wire

The first libertarian revolution succeeded, and we can do the same — but we, too, must have the will to triumph, to accept nothing less than total victory.

A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story.

As American culture becomes dominated by militant feminism, a new voting group of dissenters is arising: young male voters. These are young men that believe that the system is stacked against them, which is why Trump's populism appeals to them.

While some economists are lauding the idea of the “entrepreneurial state,” the reality is that such a term turns the very concept of entrepreneurship on its head. By nature, the state cannot act as an entrepreneur.

In its so-called war against “hate,” the state determines who are the villains and then instructs everyone else to hate the “haters.” As one might expect, the state then engages in a campaign of vilification and intimidation against the newly-designated enemy.

When the bankers called for a central bank in the US, they claimed to only want a way to stop bank runs. It turns out that they wanted—and got—much more. The permanent regime of inflation and asset bubbles is the result.

With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy.

Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered.

To rid ourselves of the state, we need institutions that can replace it. This is why the state always works to destroy competitors like families, churches, and private schools.  

A recent fraudulent check-kiting scheme featured on TikTok bears resemblance to some of the "free money" schemes that have been coming from the Federal Reserve.