Mises Wire

Modern American culture is statist to the core. The typical school curriculum tells students that capitalism is evil and socialism is good.  This only gets worse in college. 

On this day 106 years ago, the warring parties of World War I agreed to an armistice, ending more than four years of slaughter in the trenches. As Ludwig von Mises recalled, governments also slaughtered their own currencies to pay for the bloodshed.

Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.

Most economists are political apologists masquerading as economists. They are Rothbard’s “court historians” with degrees in economics instead of history.

Historical revisionism is nothing new, and recent attempts to label an “antiracist” approach to history have wrongly been called “revisionist.” To better understand revisionism, one must first be grounded in reality, then apply reality-based thought to studying the past.

While most of us know George Orwell as an authoritative critic of totalitarianism, few people know he was a committed socialist and a lifelong defender of communist Leon Trotsky. While he understood totalitarianism, he never understood socialism.

Congress ought to at least teach Powell, the Fed, and its banker friends a few much-needed lessons. 

Wage differences between men and women often are automatically attributed to sex discrimination against women. However, as research has shown time and again, other factors are at work. 

Birkin bags are pricey and the producer restricts its potential buyers. Unfortunately, disgruntled customers who don’t want to follow the company’s rules are now appealing to US antitrust law.

Even if whole regions of the country vote overwhelmingly against a president, they are still forced to submit to four years of that president’s rule-by-decree.