Mises Wire

Why Mises Opposed Both Eugenics and Social Darwinism

Political Theory

Blog06/18/2020

Mises points out that eugenicists’ aim to improve the “quality” of the human race is an incoherent and meaningless goal: there exists no clear and objective standard by which the quality of human beings can be measured.

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Why You Should Read Human Action—Very Carefully

Philosophy and MethodologyPraxeology

Blog06/18/2020

Mises's Human Action is essential reading for any aspiring economist. But there can also be some pitfalls if we read it too casually.

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Why the European Recovery Plan Will Likely Fail

Corporate WelfareCronyism and CorporatismWorld History

Blog06/16/2020

The problem of the European Union has never been a lack of monetary and fiscal stimulus, but rather an excess of these. This has failed to produce real growth, and now we're getting more of the same, but even bigger.

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Why the New Economics Just Boils Down to Printing More Money

InflationOther Schools of Thought

Blog06/15/2020

The new Keynesian recommendation for monetary policy is to “stabilize the growth of aggregate demand.” In plain language this means that the monetary authorities should never stop flooding the economy with paper money.

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Why Economists Are So Often Accused of Being Indifferent to Social Problems

Blog06/13/2020

Economists are often accused of being insensitive or unconcerned about social problems, because we try to consider all the costs and benefits, both short term and long term. This often means that we are skeptical of the popular quick political fix.

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Why "Public Goods" Don't Justify Government Intervention

Free MarketsInterventionismMonopoly and Competition

Blog06/11/2020

Economists have long tried to use the idea of "public goods" as justification for a wide variety of government interventions. But there is no objective measure for what's a public good and what's not.

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What If We Didn't Have Police at All?

Legal SystemThe Police State

Blog06/10/2020

We already employ a wide variety of nonpolice crime deterrent strategies, from private gun ownership to security cameras to private security. Meanwhile, in spite of the proliferation of police and police departments, crime, rioting, and looting endure.

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Why GDP Metrics Won't Tell Us Much about the Post-COVID Recovery

Blog06/06/2020

GDP can be increased through both government spending and printing new money. So, naturally, once lockdowns end we'll see a big rebound in GDP. But that doesn't tell us if the private sector is actually better off.

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