Mises Wire

It's Time for Unilateral Free Trade with Canada, Australia, New Zealand, and the UK

Protectionism and Free Trade

Blog02/04/2021

Protectionists are always wrong, but they're obviously wrong when it comes to "protecting" US goods from Anglosphere competition. Neither geopolitcal concerns nor fears of capital flight to "cheap labor" apply in this case. 

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A Caricature of Classical Liberalism: It's All about Individualism and Materialism

Book ReviewsPhilosophy and MethodologyPolitical Theory

Blog02/04/2021

In her history of liberalism (both classical and otherwise) Helena Rosenblatt relies on a caricature of liberals as radically individualistic and concerned only with material gain. This is an unfortunate mistake. 

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Incitement Is Not a Real Crime

Law

Blog02/03/2021

Laws against incitement—much like defamation laws—are direct attacks on basic human rights and the freedom of speech. Both place nonviolent people in legal jeopardy merely for the "crime" of expressing opinions. 

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The GameStop Saga Unravels Stakeholder Theory

CapitalismCoordinationU.S. EconomyPolitical Theory

Blog02/03/2021

Suddenly the champions of stakeholder theory, like the predictably despicable Washington Post, find themselves singing a new tune about vulture capitalists, deciding that hedge fund short sellers are now the good guys.

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There's Nothing Wrong with Short Selling

Cronyism and CorporatismFinancial Markets

Blog02/03/2021

Allowing short selling increases the number of people with an incentive to discover valuable information about firms’ prospects by providing an added mechanism to benefit from information that turns out to be negative. This makes markets more responsive and honest.

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Monetary Inflation and Price Inflation

Central BanksInflation

Blog02/03/2021

Although it is important to recognize that massive price inflation is always the result of massive monetary inflation, there isn’t a stable relationship between the two.

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Wall Street Outsiders versus the Hedge Funds

Financial Markets

Blog02/02/2021

When small investors lose their shirts by placing unwise investments, do brokerage firms, hedge funds, big banks, etc., come to their rescue? Not a chance. But there was plenty of talk of "rescue" when hedge funders lost money in the GameStop short squeeze.

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The GameStop Rebels vs. "Too Big to Fail"

Financial Markets

Blog02/02/2021

America has grown accustomed to decades of "too big to fail," which means making sure the Wall Street elite never has to endure any real pain. It's because of this that pundits were quick to claim the GameStop affair was a grave threat to America.

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