[Excerpted from chapter 6 “Antimarket Ethics: A Praxeological Critique” of Power and Market.]

The Washington Post reported last week that some workers on the Bernie Sanders campaign for calling for a wage increase to a the equivalent of 15 dollars per hour. This, of course, is the hourly rate which Sanders has long pushed for in legislation and on the campaign trail.

But that’s more than what many Sanders employees make per hour.

The basic principles of the theory of the competitive market were worked out by the Spanish scholastics of the 16th century and that economic liberalism was not designed by the Calvinists but by the Spanish Jesuits! —F.A. Hayek, 1979

Letter is here, as sent to us by Jesus Huerta de Soto.

Money supply growth fell in June, falling back near March’s growth level, which was at a 12-year (145-month) low. June growth rate was higher than only two other months during this 12-year period: March 2019 and April 2019.

In June, year-over-year growth in the money supply was at 1.98 percent. That was up slightly from May’s rate of 2.10 percent, but was well down from June 2018’s rate of 4.30 percent.

Although many conservative and libertarian commentators have vehemently criticized the various user bans imposed by Facebook, Twitter, and YouTube, many have also expressed at least guarded support on this controversial action by the social media giants.

Faculty, Associated Scholars, and More:

The Mises Institute Research Fellowship program has been vital to the growth of the modern Austrian school by graduate, law school, and post-doc students with support in their academic research.

This year, we’ve hosted 11 fellows in residence: