Stocks Always Go Up. Until They Don’t.
When confidence is extreme, there's no scrutiny. There's always a "this time it's different" mindset, the belief that anything is possible.
Recent Podcast Episodes
Mises on the Velocity of Circulation
In this short essay recently found in the Mises Institute Archives, Mises goes over the basics of monetary theory and shows why the concept of velocity of circulation is useless for understanding changes in the purchasing power of the monetary unit.
How the Left Exploits Antiracism to Attack Capitalism
The forces of anticapitalism have long latched on to whatever best suits them for pushing their agenda. Whatever the latest injustice may be—from a polluted environment to poverty to racism—the solution is always the end of capitalism.
The Social Consequences of Zero Interest Rates
As Japan has shown, ultralow interest rates can greatly affect a society that was once impressively focused on innovation and investment.
Private Defense in the History of Genoa
The Republic of Genoa provides an example of how a small "state" managed to defend itself against much larger states using military resources that were overwhelmingly owned and controlled by private parties.
How Historians Changed the Meaning of “Liberalism”
Liberalism was the most popular and influential ideology during the nineteenth and early twentieth century. So, every new socialist and authoritarian movement defined itself as "liberal" to capitalize on liberalism's popularity and importance.
