Mises Wire

George Hearst: Entrepreneur in the Mises Mold

Book ReviewsU.S. History


The reality is the primary quality of an entrepreneur can’t be taught: the stomach to risk everything and keep wanting more.  

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Germany's New Green Stimulus Plan Won't Save Their Economy

Taxes and Spending


Germany's government is pushing a new plan for massive spending on a "Climate Fund." This is justified with the usual Keynesian myths about the benefits of government spending.

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Global Governance versus Freedom and Free Enterprise

World History


Countries must remain free to refuse the edicts of global institutions of "government" like the World Bank or the IMF. This is true even when the stated goal is advancing free markets.

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Get Ready for the Socialist Calculation Debate Redux

World History


Ideas matter, but they matter when and because they are put into practice. We're seeing rising romanticism around central planning so we're going to have to refight the socialist calculation debate all over again.

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GDP Tells Us Little about the Health of an Economy


If people decide to save rather than spend, this could lead to a fall in GDP, even though people are becoming better off beyond the short term.

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Governments Love Inflation, and They Won't Do Anything to Stop It

Booms and Busts


In spite of what they say, governments will do nothing about inflation. Even though "money printing" is the real cause of this, governments will just keep blaming red herrings like supply chain problems.

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Government "Stimulus" Keeps Having a Diminishing Effect

Global Economy


We should be extremely concerned about the short and diminishing impact of monster stimulus plans.

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Good Economic Theory Is Always Grounded in the Real World

Money and Banks


The real world should always be regarded as the best foundation for an economic theory. Yet many mainstream economists think it's fine to ground economic theory in unrealistic assumptions about human behavior. 

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