Mises Wire

The Backstops for Banks Are Full of Holes

Monetary PolicyMoney and BanksU.S. Economy


The Federal Home Loan Bank (FHLB) is the latest "weapon" in the government's so-called arsenal to keep the banking system afloat. But the system needs much more than just "liquidity." It needs sound money and sound banking practices.

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The Major Cause of Mass Poverty in Sudan

Economic FreedomLegal SystemMedia and CultureSocialism


Sudan has neither the governmental nor social institutions that allow people to develop and build wealth. Instead, people get handouts from the West, which does nothing to reduce poverty.

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The Road to Civil War


"The basic root of the controversy over slavery to secession, in my opinion, was the aggressive, expansionist aims of the Southern 'slavocracy.'"

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The FTC Is Wrong about Mergers and Monopoly, Yet Again.

Bureaucracy and RegulationEconomic PolicyProgressivismU.S. Economy


The Federal Trade Commission is unwisely trying to block a merger between Microsoft and Activism. The result is more monopoly and higher prices. 

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The Affirmative-Action Ruling Strengthens Vast Federal "Anti-Discrimination" Powers

Decentralization and SecessionU.S. History


The conservative judges chose to perpetuate the court's well-established and disastrous use of the Equal Protection Clause. The justices were careful to protect and strengthen federal power. 

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The Problem with Belloc's Distributist Economy

Economic PolicyFree MarketsOther Schools of ThoughtPhilosophy and Methodology


The "distributist" theorists Chesterton and Belloc imagined that economic interventionism could make life easier and more free. Yet their proposed system is neither moral nor practical. 

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The Trouble with the Constitution and the "Social Contract"

U.S. HistoryWorld HistoryPolitical Theory

If my repeated insistence that I do not consent is insufficient to indicate my lack of consent, then what kind of crazy moral system is this?

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The MMT-and-Bailey Fallacy

The FedInflationMonetary PolicyU.S. Economy


The latest rage in macroceonomics is modern monetary theory, whose adherents invariably resort to the motte-and-bailey fallacy. Advocating inflation is never a good idea.

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