Mises Wire

The Fed's Real Mandate

The FedInflationUnemployment

Blog1 hour ago

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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Mises and Imaginary Constructions

Austrian Economics OverviewProduction Theory

Blog4 hours ago

While Austrian economists criticize the neoclassicals for their models' use of untrue assumptions, critics have turned the same criticism against the Austrians for their use of the evenly rotating economy.

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The Velocity of Money Circulation Is Another Economic Myth

KeynesMonetary PolicyMonetary Theory

Blog9 hours ago

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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Julian Assange and Our Impunity Democracy

DemocracyThe Police StateWar and Foreign Policy

Blog9 hours ago

Saturday's world-wide demonstrations calling for the release of Julian Assange might go unheeded by American political elites, but that does not diminish this simple truth: Assange is being punished for exposing lies and lawbreaking by the U.S. Government.

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The Fraudulent Social Contract of Bad Money Regimes

The FedInflationMoney and Banks

Blog10/06/2022

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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A Cliché of Socialism: Under Public Ownership, We the People Own it!

Free MarketsProperty RightsSocialism

Blog10/06/2022

Proponents of socialism claim that it promotes ownership "by the people." Yet the people that actually control resources and production are not the same people who allegedly are the "rightful owners" in society

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It's All about the Benjamins: Why the Dollar Determines US Policies

Central BanksInflationMonetary PolicyWar and Foreign Policy

Blog10/06/2022

The US dollar is not the world's "reserve" currency because of responsibility on behalf of the monetary authorities. Instead, the dollar's "strength" wages from the USA's self-appointed role as the world's protector.

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How to Do Economics

Blog10/05/2022

Sound economic reasoning highlights a major difference between social sciences and the natural sciences. We cannot rely on observation and measurement to gain understanding of social phenomena.

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