Thorsten Polleit

Articles

The Illusion of Democracy: The “Iron Law of Oligarchy”

12/19/2025 Mises Wire Thorsten Polleit

“Political globalism” bears the unmistakable signature of an oligarchized democracy. No matter how we vote, a small elite manages to get its way on its central issues.

Elon Musk Claims Money Will Become Irrelevant. Is He Right?

12/09/2025 Mises Wire Thorsten Polleit

Elon Musk recently claimed that artificial intelligence will make money itself obsolete. He needs to read the literature of Austrian economics.

Stablecoins as Inflation Drivers

09/26/2025 Power & Market Thorsten Polleit

Stablecoins are the next big thing. So, what are stablecoins and what economics effects will they have?

Publications

The Global Currency Plot

02/16/2023 Thorsten Polleit

— from the Summary ... Democratic socialism—the ideology that dominates the world today—aspires to become a world state. The route toward it requires a single world currency to be created. That would undoubtedly create a dystopia. Might this become a

Media

Elon Musk Claims Money Will Become Irrelevant. Is He Right?

12/10/2025 Thorsten Polleit

Elon Musk recently claimed that artificial intelligence will make money itself obsolete. He needs to read the literature of Austrian economics.

The Euro Is a Frankenstein-Currency

09/09/2024 Thorsten Polleit

It may not have been created in the lab of a mad scientist, but the euro is still a manufactured, cobbled-together currency made from a number of national monetary units. Indeed, it is the perfect Frankenstein currency.

Rising Interest Rates and the “Great Reset” Bubble

02/05/2024 Thorsten Polleit

While the “Great Reset” involves an unholy alliance between governments and big businesses, implementing its policies is impossible without central banks suppressing interest rates. Now that rates are rising, people are finding firsthand the real costs of the “Great Reset.”

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.