In March 2019, the pseudonymous “PlanB,” who describes himself as a “former institutional investor with 25 years of experience in financial markets,” published a short article describing what he dubs the “stock-to-flow” (S2F) model of bitcoin pricing. Influenced by Nick Szabo on “unforgeable costliness” and Saifedean Ammous on S2F , PlanB’s
Since the awarding of the Nobel Prize in economics to Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig, most of the media interest has, understandably, concentrated on Bernanke. Mark Thornton wrote a scathing takedown of bailout Ben , while Tyler Cowen inexplicably praised him to the skies (Cowen at least provides a good overview of some
Hans-Hermann Hoppe, despite retiring about fifteen years ago and only publishing lightly since, has an (un)enviable characteristic: he still manages to provoke his opponents to violent and rather silly outbursts from time to time. The most recent round of pearl clutching emanated from the otherwise sound Phillip Magness ( via Twitter ), who seems
Cryptocurrency enthusiasts generally have a great appreciation for the Austrian school of economics. This is understandable since Austrian economists have always argued for the merit of privately produced money outside government control. Unfortunately, an erroneous understanding of the development and functions of money has emerged and become
The free banking debate seems to be a perennially reoccurring event with no resolution in sight. On Twitter, George Selgin recently had a series of tweets and threads again criticizing the “Rothbardian” position on free banking. Although partly due to the limitations of the medium, the description of the Rothbardians’ objections to free banking
We are now well past the corona crisis of 2020, and most of the restrictions around the world have been repealed or loosened. However, the long-term consequences of arbitrary and destructive corona policies are still with us—in fact, we are now in the middle of the inevitable economic crisis. Proclaiming the great crash and economic crisis of 2022
Earlier this year, Our World in Data celebrated the fact we have now passed “peak agricultural land”: over the last few decades, the global land area devoted to food production has declined. While the decline is not large and while the data is uncertain, the fact itself is significant and not in dispute: until recently, agricultural land use rose
One of the key myths of the twentieth century is the benign role played by international, American-led institutions after the Second World War. American liberals/progressives, fresh from imposing the New Deal in the thirties and planning and directing a world war, turned their eyes to international affairs: the United States had a world historic
Standard neoclassical definitions of money call it a means of exchange and a store of value. But is this correct? Original Article: “Cryptocurrency as Money—Store of Value or Medium of Exchange?” This Audio Mises Wire is generously sponsored by Christopher Condon.
While Bitcoin’s S2F Model has come under some criticism, the best analysis of its flaws comes from perspective of Austrian Economics. Original Article: “A Critique of the Bitcoin Stock-to-Flow Model” This Audio Mises Wire is generously sponsored by Christopher
What is the Mises Institute?
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.