According to the Modern Monetary Theory (MMT), money is something decided by the state. The MMT regards money as a token. For instance, when an individual places a coat in the cloakroom of a theater, he receives a tin disc or a paper receipt. This receipt or a disc is a proof that the individual is entitled to demand the return of his coat.
High inflation spurred Donald Trump’s defeat of Kamala Harris last November. The economy was the top issue for most voters, and inflation was the top economic issue. As Biden’s partner in economic crime, Harris could not escape the blame for the torpedoing of the dollar’s value in recent years.
Éric Lombard, France’s Minister of Economy and Finance, makes a negative impression almost every day with his statements on the economy and the role of the state in society. These positions are a perfect reflection of the gulf between the French political class, defenders of socialist statism, and a world that is following a completely opposite path: one of freedom, economic liberalization, eager to reduce the weight of the state in the life of individuals...
On February 10, President Trump announced a 25 percent tariff on all steel and aluminum imports. Legally, Trump is within his rights to do so, as Congress gave the President the power to set tariffs. However, the Constitution of the United States places the power to impose tariffs in the hands of the Legislative Branch.
The Misesian: Dr. Fegley, you were a Mises University student and a repeat Mises Research Fellow. Can you speak to the influence that had on your academic career?
Tate Fegley: My first Mises U was back in 2010, between my junior and senior years at Boise State, and it had a big effect on me. I wish I had done it sooner, since it connected me with other Austrians at Boise State for the first time.
Capital: Critique of Political Economy, Vol. 1
Edited by Paul Reitter and Paul North
Translated by Paul Reitter
Princeton University Press, 2024
The Misesian: Unfortunately, we live in an age of a “mixed economy” and “regulated capitalism.” This means that the private sector and the government sector are mixed together, and it’s not always clear where the state ends and the private sector begins. How can we determine if a private company is a true partner of the state— truly benefiting from state power—or if the private company is really a victim of the state?
President Joe Biden’s decision to posthumously pardon Marcus Garvey has been met with widespread acclaim in the United States and across the global black diaspora. Garvey is revered as an iconic black nationalist and Pan-Africanist thinker, celebrated for his vision of racial uplift and economic self-sufficiency. However, his legacy is far more complex than the hagiographic portrayals suggest.
How many times have you seen a politician, businessman, union, or activist group clamoring for the government to do something on the grounds that it will improve the public weal? “We need higher minimum wages to benefit the working class,” a union official says.
