Mises Wire

Beyond Crisis: The Ratchet Effect and the Erosion of Liberty

Big GovernmentThe Police StateU.S. History


After governments create crises, they use those crises to seize new powers. After the crisis subsides, governments give up some, but not all, of their new authority, which we call the ratchet effect.

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Big Governments’ One-Two Punch: Scope Creep, Then Wartime Deprivation

Big GovernmentThe FedInflationTaxes and SpendingU.S. Economy


Governments do two things: they grow and they deprive citizens of their wealth. That process has not changed for more than a century in the USA.

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Breaking Free: How Open Protocols Foster Entrepreneurship, Spontaneous Order, and Individual Sovereignty

CoordinationEconomic FreedomHayek


The open protocols on the internet would seem to create chaos, but it turns out that they produce the opposite results, encouraging a digital spontaneous order.

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Belgian Colonialism of the Congo: Facts and Fiction

EuropeWar and Foreign PolicyWorld History


Like many colonial ventures, Belgium's involvement in the Congo had some successes—and many failures.

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Bidenomics Is Yet Another Version of Failed Industrial Policy

Economic PolicyProgressivismSocialismU.S. Economy


President Biden announced recently to much fanfare that his administration will transform the US economy through central planning. This does not end well.

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Banks Create Money out of Thin Air. What Could Possibly Go Wrong?

Booms and BustsThe FedInflationMoney and BanksMoney and Banking


How can a bank “create money out of thin air”? We must enter the magical kingdom of “fractional-reserve banking,” where deposits are turned into loans, loans are turned into money, and so on, to find out.

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Biden Wants Sanctions for Uganda Because Its Government Passed Anti-LGBT Laws

War and Foreign Policy


Just in case you wrongly thought sanctions had anything to do with national security: Biden wants to sanction the people of a small African country over anti-LGBT laws. 

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Bank of England Economist: Britons Need to Accept That They’re Poorer

Central BanksInflationMonetary Policy


Although the Bank of England is largely responsible for inflation in the UK, its leaders blame British consumers and workers for the price increases.

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