Mises Wire

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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After the Lockdowns, Government "Fixes" for the Economy Will Make Things Even Worse

InflationFinancial MarketsU.S. History

Blog06/20/2020

Like during the 1930s, governments are turning to new programs and schemes that will only prolong the crisis and makes things worse.

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Are We on the Cusp of a New Progressive Era?

Bureaucracy and RegulationProgressivismU.S. History

Blog06/17/2020

If current political and economic trends continue, the 2020s will usher in a new period of drastically increased government activity and regulation of the economy.

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Abolishing the Police Won't Mean Abolishing State Violence

Legal SystemMedia and CultureThe Police State

Blog06/15/2020

The Left believes that we need the state to force people to act in line with "social justice." This means that somebody must force compliance with state edicts, even if those people aren't called "police."

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