Mises Wire

Why Fungibility Is Important in Understanding Money and Crypto

Money and Banks

Blog47 min ago

One of the most in-demand aspects of physical cash is that it is totally fungible. Every dollar is the same as every dollar. But cryptocurrencies can leave a digital trail which may lead to later problems in fungibility. 

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The Media Wants You to Trust Washington Again Now That Trump Is Gone

Media and Culture

Blog3 hours ago

Perhaps reporter Michelle Kosinski is unaware that the Trump-era secrecy she denounced flourished mightily thanks to the beloved Obama administration. Kosinski’s mindset also helps explain why Americans' trust in the media has collapsed.

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3 Ways the Tech Oligarchs' New Subsidy Is Ripping You Off

Bureaucracy and RegulationTaxes and Spending

Blog4 hours ago

When it comes to the oligarchs' new semiconductor subsidy scheme, the real cost in terms of economic distortions, lost welfare, and harm to competitors, is quite real and beyond the dollar amounts we see in the subsidy itself. 

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Boom to Bust: How Inflation Turns into Deflation

Money and Banking

Blog8 hours ago

Seemingly endless amounts of fiscal and monetary stimulus will keep prices rising in the near term. But if the banking sector and other bubble industries weaken, we will eventually see deflation as new loan activity lessens. 

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Babbitt Is Back

PhilosophyPolitical Theory


The people selling us democracy believe in it the same way George F. Babbitt believes in a new listing from the Babbitt-Thompson Realty Company.

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Biden's Family Leave Is Yet Another Attack on the Family

Bureaucracy and RegulationU.S. Economy


Only a bureaucrat would assume that putting a small child in public school is just as effective as keeping the child at home with a parent. Unfortunately for Biden, the research isn’t on his side.

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We Cannot Build an Economy on Lies

U.S. History


American journalists and academics have invented a fairy tale in which "free market orthodoxy" has dominated political thinking in America for the past forty years. This is not even slightly true, but pundits repeat the lie again and again. 

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The Corrupt Bargain and the Preservation of Slavery


Slavery was now driven into the heart of the new constitution: in the three-fifths clause, in the protection of slave importation for twenty years, in the fugitive slave clause, and even in the congressional power to suppress insurrections within the states.

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