Mises Wire

The State: It’s Oligarchs All the Way Down

World History


Lenin called World War I a war among the capitalists of Europe. He was wrong. It was a war among oligarchs, statists who extract wealth from legitimate economic activity at the barrel of a gun.

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The Fed Cannot Undo the Damage It Has Already Caused

Booms and BustsCentral BanksBusiness Cycles


The Fed's unprecedented monetary expansion has created damage that it cannot undo by switching directions.

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The Return of the Austrians

Money and BanksU.S. Economy


In contrast to the Keynesians and Friedmanites, Rothbard showed how Austrian economists can understand the stagflation phenomenon through price theory and capital theory. Interest rates must be raised in order to flush out malinvestments.

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The Science of Evil: A Personal Review of Political Ponerology

Book Reviews


The literary accounts and studies of the Soviet Union, the Eastern Bloc, and Nazi Germany necessarily failed to grasp the root of the problem—namely, the psychopathological dimension of the inception and development of pathocracy.

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The West's Russia Sanctions Show Why States Want to Weaponize the Financial System

Bureaucracy and RegulationFinancial Markets


States continue to seek new ways to make the financial system an “economic chokepoint” enabling the state to crack down on specific organizations, individuals, or activities.

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The Statist "Solution" Really Is a Non Sequitur

AntipoliticsBureaucracy and RegulationFree MarketsLibertarianism


All too often, people accept the state-sponsored "solution" to a perceived problem as the logical choice. But this "solution" really is a non sequitur.

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The West's Russia Sanctions Could Lead to Many Unpredictable and Unpleasant Outcomes

Money and Banks


Imposing sanctions will advance the reach of surveillance capitalism while strengthening the power of states to control the financial system overall. The end result will be a lower standard of living and a less free economy. 

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The Progressives' Liberal Democracy Has Failed. Radical Decentralization Is the Answer.

Decentralization and SecessionDemocracyPolitical Theory


In many ways, the liberal democracy that had its roots in nineteenth-century liberalism seems to have run its course. Can we revive it, or does something more authoritarian take its place?

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