Mises Wire

Why the Misuse of the Word "Efficiency" Is Such a Problem

Value and Exchange

Blog05/21/2021

"Efficiency" has largely been demoted from a useful term of analysis and insight to little more than another warning that the government is about to rip you off with another redistribution scheme. 

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Do Austrians "Hate Math"?

Booms and Busts

Blog05/21/2021

Quantitative methods are indeed useful and enlightening in the fields of economic history and descriptive economics. For Mises, however, these fields do not fall within the field of economics, narrowly understood. 

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Does Bitcoin Use "Too Much" Electricity?

Bureaucracy and Regulation

Blog05/20/2021

Elizabeth Warren has decided that bitcoin mining uses "too much" electricity. This raises an important question: Is Senator Warren qualified to decide on the "correct" amount of electricity usage? 

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How Families Fuel Economic Development

Labor and Wages

Blog05/20/2021

Stable families offer better conditions for specialization and economies of scale. This in turn fuels both social and economic development. 

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Let's Level the Playing Field between the Dollar and Competing Currencies

Money and Banks

Blog05/19/2021

Thanks to so many government restrictions on the use of potential monies that aren’t the dollar, we can only guess as to what the relationship between dollars and bitcoin would be in a functioning marketplace. But it doesn't have to be that way.

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Inflation Is Great If You're Already Rich

Booms and Busts

Blog05/19/2021

We've seen pictures of empty shelves in Venezuela. Meantime, the one-year return on the Caracas stock exchange is 1,804.92 percent. If you're already rich in assets, inflation is a big nothing burger. But it's a problem if you're poor. 

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What Does "Seasonally Adjusted" Mean?

U.S. History

Blog05/19/2021

Without a coherent theory, it is not possible to begin to understand the causes of business cycle and no amount of data torturing by means of the most advanced mathematical methods will do the trick.

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The New Constitution: The Ratification and Amendment Process

U.S. History

Blog05/18/2021

The founders of the new constitution proposed a cynical end run around state legislatures in order to improve the odds of ratification.  The "founding fathers" increasingly abandoned established law, justifying it with claims of a "national emergency."

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