Mises Wire

Forget Being the World's Policeman; the Federal Government Can't Even Keep DC Safe

Bureaucracy and RegulationLawLegal SystemProgressivism


While US taxpayers pay billions for military missions around the world in the name of “keeping us safe,” the federal government fails to keep residents of the nation’s capital safe from violent crime.

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Fiscal Rules Do Not Undermine Investment, But Government Profligacy Does

Big GovernmentGlobal EconomyPoliticsTaxes and Spending


In the wake of the financial meltdown fifteen years ago, some countries placed strict limits on piling on public debt. Despite cries that this harms investment opportunities, the ”debt brakes” have worked well.

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Four Charts That Show Cantillon Effects

CantillonMonetary TheoryMoney SupplyPrices


Richard Cantillon, whom Austrians consider to be the real father of modern economics, noted that new money creation has uneven effects. Jonathan Newman demonstrates how those effects take place.

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Fractional Reserve Banking (Part II)

Money and Banks


Under free competition, and without government support and enforcement, there will only be limited scope for fractional-reserve banking. Banks could form cartels to prop each other up, but generally cartels on the market don’t work well.

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Forget the Alleged Social Contract: Taxes Are Coercive

Big GovernmentBureaucracy and RegulationTaxes and Spending


The standard line is that taxes are part of a “social contract” that individuals have with the authorities that govern them. It is time to rethink the terms of this so-called deal.

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FDR against the Bill of Rights

Old RightProgressivismThe Police StateU.S. History


Continuing his review of David Beito's The New Deal’s War on the Bill of Rights, David Gordon shows how Franklin D. Roosevelt and his administration repeatedly eviscerated American constitutional rights.

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From Bastiat’s Defense of Exchange to Ideal Government

Economic FreedomSocialismTaxes and SpendingWorld History


Frédéric Bastiat died before he could finish Economic Harmonies, but what he did write is an important promotion of liberty.

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Federal Student Loans Drive Up College Tuition Levels

Big GovernmentBureaucracy and RegulationPovertyProgressivism


Like every other government program designed to make something “more affordable,” the student loan program has managed to drive college tuition to atmospheric levels and saddle students with massive levels of debt.

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