Mises Wire

Farm Subsidies Are Corporate Welfare — And They Cost Us Plenty

Taxes and Spending

Blog07/11/2019

Farm subsidies encourage farmers to be inefficient and wasteful. Moreover, subsidies mostly benefit large farms and landowners, and not the "small family farms" we're told the subsidies protect.

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Social Pressure vs. Consumer Preferences

SubjectivismValue and Exchange

Blog07/08/2019

Anti-capitalists love to claim that consumers don't really have free choice — that advertisers and peers really dictate to others what they should buy. In truth, consumers choose freely, but use others to filter information and simplify the process.

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Price Controls Make Life Miserable for New Yorkers

Bureaucracy and RegulationU.S. History

Blog07/05/2019

After many decades of rent control and other regulations, New York politicians still can't seem to figure out why housing is so expensive.

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Why Modern Economics' Fixation with "Efficiency" Is Dangerous

EntrepreneurshipOther Schools of ThoughtPhilosophy and Methodology

Blog07/05/2019

Efficiency is backward-looking and static, while value creation is future-oriented and aspirational. 

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Lincoln and Trump: Two of a Kind?

Blog07/03/2019

Trump haters are concerned that Trump will "stain" the Lincoln Memorial with a speech on Independence Day. But Trump is extremely unlikely to ever match Lincoln's blood-soaked legacy. And that's a good thing.

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Non-Renewable Resources Never Really Run Out

The EnvironmentEntrepreneurship

Blog07/03/2019

Supply, demand, and prices affect human usage of natural resources in such a way that the most scarce and valued resources are economized and preserved. The practical effect is that valuable resources never really run out.

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Andrew Yang Fears Automation. He Should Fear Inflation.

Without inflationary money, automation means we can work less while at the same time have an even higher standard of living.

06/28/2019Power & Market
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Returns, Refunds, and Opportunity Cost

The EntrepreneurEntrepreneurship

Blog06/28/2019

A business owner who cannot understand why a customer is not happy — or even very disappointed — with getting a full refund for a faulty product has failed to grasp some very fundamental economic concepts.

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