Mises Wire

What Should the West Rally behind? Not the State.

Blog12/29/2020

In his new book, conservative author R.R. Reno thinks that openness is not a strong enough principle for a society to rally behind. Unfortunately, his answer is to get behind the state.

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The Fed Won't Save Us from the Growing Jobs Recession

The FedFinancial Markets

Blog12/28/2020

No matter how bleak the economy may be, the Keynesians are likely to say, “It would have been worse without us.” 

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Central Bank Digital Currency: A Primer

Monetary PolicyPlanningMoney and Banking

Let us begin with what CBDCs definitely are not: they are not a new kind of cryptocurrency akin to bitcoin.

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Yes, Privatization Makes Us Better Off

Financial MarketsProperty Rights

Blog12/26/2020

The Left has often claimed that privatization is a neoliberal scam. But actual experience suggests privatization schemes have improved access to goods and services while raising productivity and real incomes. 

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The Great Reset, Part II: Corporate Socialism

Blog12/26/2020

The aims of the WEF are not to plan every aspect of production and thus to direct all individual activity. Rather, the goal is to limit the possibilities for individual activity—by dint of squeezing out industries and producers within industries from the economy.

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Capitalist Luxury vs. "The True Meaning of Christmas"

Media and CultureWorld History

Blog12/25/2020

The idea of ordinary people enjoying luxuries and "unnecessary" items has long troubled intellectuals and aristocrats. But thanks to capitalism, ordinary people can now enjoy the basic pleasures the ruling classes have long seized for their own. 

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Mill: Socialism Could Work for More Advanced People

PlanningSocialism

Blog12/25/2020

Though he was generally a Ricardian, John Stuart Mill thought that the main obstacle to socialism is that people might not yet be civilized enough to put it into practice. 

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Today's Negative Rates Are the Path to Poverty

Blog12/25/2020

Murray Rothbard wrote, “The rate of interest is the price of ‘time.’” It’s safe to say the world’s central banks have manipulated and mispriced what time is worth.

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