Mises Wire

Brexit: Predictions of Economic Doom Show Why People Ignore "Experts"

Bureaucracy and RegulationProtectionism and Free Trade

Blog02/03/2020

Experts who predicted economic doom as Brexit approached obsessed over the problem of "transaction costs" in trade. But the EU was imposing countless new transaction costs of its own.

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John Maynard Keynes and Ludwig von Mises on Probability

Calculation and KnowledgeOther Schools of Thought

02/03/2020The Journal of Libertarian Studies
I. INTRODUCTION The complex issues relating to the interpretation and meaning of different concepts of probability and to the legitimate scope of their useful application in the social sciences and in economics belong to the more controversial topics within the subfield of economic methodology...
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More on Joe Salerno's Critique of Economism

02/03/2020Power & Market

As C. Jay Engel explains, only the rigorously subjectivist perspective of the Austrian school offers a rational critique of economism.

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"Disabled" Cop Fleeces Taxpayers While Working Full-Time for FBI

HealthSocialism

Blog02/03/2020

Taxpayers are paying the disability pension of a "disabled" former cop who works full-time for the FBI and is classified as being in "excellent physical condition."

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How Keynesian Ideas Weaken Economic Fundamentals

Other Schools of ThoughtProduction TheoryValue and Exchange

Blog02/03/2020

There is productive consumption and there is non-productive consumption. In the Keynesian mind, it's not necessary to produce anything, so long as people spend and consume endlessly, even to the point of destroying real wealth.

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The State Owns You: The Problem with "National Service"

War and Foreign Policy

Blog02/01/2020

All arguments in favor of mandatory service rest on the idea that an individual's life belongs not to him- or herself, but to the state.

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Why Voting Doesn't Tell Us What Voters Really Want

Decentralization and SecessionStrategy

Blog02/01/2020

In a large enough democracy, the impact of an individual vote is statistically zero on the margin. 

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Keynes’s General Theory: A Solution in Search of a Problem

Socialism

01/31/2020The Journal of Libertarian Studies
Even on its own terms, the General Theory must considered a failure, for the problem it purports to solve, involuntary unemployment, does not exist.
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