Mises Wire

Mill: Socialism Could Work for More Advanced People

PlanningSocialism

Blog12/25/2020

Though he was generally a Ricardian, John Stuart Mill thought that the main obstacle to socialism is that people might not yet be civilized enough to put it into practice. 

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Today's Negative Rates Are the Path to Poverty

Blog12/25/2020

Murray Rothbard wrote, “The rate of interest is the price of ‘time.’” It’s safe to say the world’s central banks have manipulated and mispriced what time is worth.

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A New Introduction to Austrian Economics

Book Reviews

Blog12/24/2020

“The General Theory was published in 1936 and Hayek decided not to respond directly. In making this decision, Hayek committed what many defenders of the free market system consider to be one of the major tactical errors of this century.” 

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California Voters Defeated Affirmative Action and the Left Was Very Surprised

Legal SystemMedia and Culture

Blog12/24/2020

Ideally, political elites would like nothing more than state-sponsored ethnic conflict. Having multiple groups pitted against each other in petty political squabbles makes effective opposition against the managerial class virtually impossible. 

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2021's Deficit Spending Is Already Out of Control. Here's Why That's a Problem.

Taxes and Spending

Blog12/23/2020

Deficits still matter, largely because they require monetary policies that lead to bubbles, inequality, and the slow Japanization of the US economy. 

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Why It's Important to Make the Moral Case for Capitalism

CapitalismMedia and CulturePhilosophy and Methodology

Blog12/23/2020

Yes, capitalism is more efficient than socialism, but to build a compelling argument for free market capitalism, defenders of liberty must also articulate that it is a superior moral system.

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The Problem with Mandatory "Socially Responsible Investing"

Financial MarketsFree MarketsTaxes and Spending

Blog12/23/2020

There are ominous signs on the horizon that governments want to move toward mandating "socially responsible investing" for pensions and fund managers. This is a terrible idea, to say the least. 

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Pelosi's "Mandate": What "Consent of the Governed" Really Means

Democracy

Blog12/22/2020

What does "the consent of the governed" mean? In 2020, 53 percent of US residents either voted for someone other than Trump or Biden, or didn’t vote at all. It also means about 75 percent of the population did not vote for Biden. 

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