Mises Wire

An Austrian Critique of Robert Mundell's "Impossible Trinity"

Protectionism and Free TradeMonetary TheoryOther Schools of Thought

Blog04/27/2021

The impossibility theorem, developed by Nobel-winning economist Robert Mundell, paints a false tradeoff between the free movement of capital, fixed exchange rates, and effective monetary policy. Under a gold standard, all three are a possibility.

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Patriotism

War and Foreign Policy

Blog04/26/2021

“When men hire themselves out to shoot other men to order, asking nothing about the justice of their cause, I don’t care if they are shot themselves.”

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Thanks to the Fed, the High-Risk, Small-Time Borrower Is Becoming a Thing of the Past

Money and Banks

Blog04/26/2021

The central bank has basically destroyed the business of risk, and commercial real estate remains a looming disaster. As a result, banks aren't lending to regular people. The economy increasingly relies on little more than newly printed money. 

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Why Empowering Organized Labor Will Definitely Not Help the Economy

U.S. History

Blog04/26/2021

Contrary to what Krugman might argue, the growth of organized labor in the US workforce was much more the work of government prodding and outright coercion than it was a natural progression of the American workplace.

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No, Dogecoin Does Not Compete with Bitcoin

Financial MarketsMoney and Banking

Blog04/24/2021

Medium of exchange and store of value are very different products.

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The US Recovery Is Weak, Especially Given the Size of the "Stimulus"

Business Cycles

Blog04/24/2021

It seems that governments want to convince us that they have saved the world when the reality is that the misguided lockdowns were the cause of the economic debacle and lifting them is the main cause of the recovery. 

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The United States Has Declared Defeat in Two More Wars

War and Foreign Policy

Blog04/23/2021

Now that the average American voter is barely paying attention—and that the US is facing an economic crisis and weak recovery—it has become politically expedient to move further toward wrapping up a couple more lost wars. 

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Are Monarchies Better for Economic Growth? Here's What the Empirical Evidence Says.

World History

Blog04/23/2021

The evidence suggests that monarchies—especially small ones—are more peaceful, stable, and protective of private property than their republican neighbors. 

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