Across the political aisle pundits are suggesting industrial policy as a tool to contain the ascent of China. Commentators worry that failure to do so might result in China eclipsing America as the world’s economic superpower. Without doubt, the tantalizing arguments abetting industrial policy are gaining traction because defenders of markets have
Many socialists think that protectionism benefits the poor. But these views deviate from the free trade tradition that can be found in some corners of socialist thought. Like liberal economists in the nineteenth century, some socialists also argued that protectionism served the interests of corrupt entrepreneurs. The forgotten contribution of
Though rarely stated the nuclear family—as opposed to the extended family or clan—played a seminal role in the growth of Western capitalism. Success in a modern economy requires us to trust strangers and think creatively. These traits were nurtured by the individualistic ethos of the medieval nuclear family. Not only were nuclear families,
The Igbos are one of many ethnic groups within Africa. They consist of about 43 million people, 40 million of whom live within Nigeria. They are widely successful in Nigeria and are considered by many to be the “Jews of West Africa,” partly because they tend to be more economically successful than their neighbors. For example, according to some
From the Late Middle Ages to the nineteenth century, Europe transitioned from being one of the most backward regions in the world and became the world’s economic powerhouse. How did this happen? One reason, as shown by Ralph Raico, is Europe’s unusual political decentralization . But another likely factor is Western Europe’s unusual pattern of
Societies are more prosperous when citizens produce and innovate without government intervention. Undoubtedly, regulations can slow the progress of innovation and by extension economic growth. Because economically free societies enable the efficient creation of wealth it is unsurprising that the Fraser Institute and the Heritage Foundation have
Historians still ponder why, despite its dominance in prior centuries, China failed to industrialize before Europe. Some contend that the culture of conformity engendered by Confucianism prevented the influx of disruptive ideas able to spark an economic revolution. Meanwhile, there are those who posit that the Chinese preferred employment in the
It has now become commonplace to accuse anyone who opposes covid lockdowns of being “antiscience.” This sort of treatment persists even when published scientific studies suggest the usual prolockdown narrative is wrong. support the antilockdown position. There are sociological, economic, and cultural reasons why experts will take the politically
Liberals rarely defend the property rights of corporations, so it is quite amusing that scores of them are arguing that social media companies have the right to deplatform rogue actors. Unfortunately, by making free speech the crux of the argument libertarians have ceded the debate to liberals. Instead, we should be asking ourselves if companies
Listen to the Audio Mises Wire version of this article. India’s farmers have been demonstrating in response to the government’s decision to liberalize the agricultural sector. Though economists note that these measures will boost the incomes of farmers, it is unsurprising that the protests have received immense support. Unlike corporate
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.