Mises Wire

Americans Are Buying Guns in Record Numbers. The Washington Post Isn't Pleased.

Media and CultureThe Police State

Blog07/22/2020

Americans have been buying lots of guns out of fear of crime and unrest this year. This suggests that the crime-guns causality is the opposite of what gun controllers say. Rather than saying "guns cause crime," we should be saying "crime causes guns."

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Antonio Gramsci: The Greatest Political Strategist in History

Media and CultureSocialism

Blog07/22/2020

Many libertarians, like Marx, are focused on economic freedom as the means to deliver liberty for all. Gramsci knew better, and he offers a lesson for libertarians who believe that broader cultural questions beyond the nonaggression principle are irrelevant for liberty.

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A Rising Demand for Money Won't Save Us from Inflation

InflationMoney and Banks

Blog07/20/2020

The conventional view is that new money creation is no problem so long as the demand for money is increasing. The conventional view is wrong.

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All You Need to Know about Alexis de Tocqueville

World History

Blog07/01/2020

It doesn't take an immense amount of insight to see the relevance of Tocqueville's central concern to our situation today. What are the so-called Twitter mobs if not the "tyranny of the majority" at work?

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As the Fed Pumps, the Stock Market Is Increasingly the Only Game in Town

Financial Markets

Blog06/27/2020

In the midst of a stock market bubble like this one, everyone from Warren Buffet down to the shoeshine boy has some great tips for you.

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Are Fractional Reserve Bank Deposits Money?

Money and BanksMoney and Banking

Blog06/26/2020

It is possible to conceive of a world where fractional reserve banking is understood by both banker and depositor and involves no deception or fraud. But in that world, deposits cease to be money and become complex credit securities.

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A Never-Ending Story of Bailouts, Moral Hazard, and Low Economic Growth

Cronyism and CorporatismU.S. EconomyU.S. History

Blog06/25/2020

The history of bailouts in the United States is a record of broken promises and growing moral hazard.

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A Review of Stephanie Kelton’s The Deficit Myth

Book ReviewsMonetary PolicyTaxes and SpendingMonetary Theory

Blog06/23/2020

The good news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever. The bad news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever.

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