Mises Wire

The Economy Is a Process, Not a Factory

Austrian Economics Overview


What is important is not the types and number of goods that sit on store shelves. It is why and how they got there.

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The West Didn't Become Rich Because of Slavery But in Spite of It

Labor and WagesPovertyU.S. History


The modern progressive narratives claim that the wealth of the West and especially of the USA was built upon the backs of slaves. In fact, slavery retarded economic growth.

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The Fed's Real Mandate

The FedInflationUnemployment


The standard line is that the Federal Reserve System has two mandates, keep unemployment low and create price stability. Mark Thornton notes that the real agenda is found elsewhere.

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The Velocity of Money Circulation Is Another Economic Myth

KeynesMonetary PolicyMonetary Theory


Anyone who has taken a Keynesian-based macroeconomics course remembers the equation of exchange: MV = PY. This equation, however, is buried in fallacious economic thinking.

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The Fraudulent Social Contract of Bad Money Regimes

The FedInflationMoney and Banks


Progressives are fond of telling us that we are under a "social contract" with the government, in effect justifying whatever abuses authorities inflict. Putting up with massive inflation is the latest iteration of this so-called contract.

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The Front Lines of the Language Wars

LiberalismPhilosophy and Methodology


Language is at the front lines of the battle over institutions.

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To Limit the Reach of America's Stasi, the FBI, Vacate All FISA Rulings

The Police State


The FBI operates as an agency whose players know they are untouchable in the current regime. Vacating FISA rulings is one way to fight back.

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The Secessionist French Classical Liberals: Molinari and Dunoyer

Decentralization and Secession


Radical Charles Dunoyer wanted "the municipalization of the world" by which states would be broken up and forced to compete both with the private sector and with countless other states.

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