Mises Wire

The Limits of Economic Calculation

Calculation and KnowledgeValue and Exchange

Blog01/21/2020

It is possible to determine in terms of money prices the sum of the income or the wealth of a number of people. But it is nonsensical to reckon national income or national wealth.

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The Libertarian Legacy of the Old Right: Democracy and Representative Government

U.S. HistoryPolitical Theory

01/20/2020The Journal of Libertarian Studies
What is the relationship between libertarianism and democracy? This article unveils a well-consolidated tradition of criticism of democracy within libertarian political philosophy.
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The Deception behind Government Licensing Laws

Bureaucracy and RegulationCronyism and CorporatismInterventionism

Blog01/18/2020

How much licensing requirements are designed to “protect” the health of the public, and how much to restrict competition, may be gauged from the fact that giving medical advice free without a license is rarely a legal offense. Only the sale of medical advice requires a license.

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The Bank of England's Governor Fears a Liquidity Trap

Money and BanksCapital and Interest TheoryMoney and BankingOther Schools of Thought

Blog01/17/2020

The demand for goods is not constrained by the amount of money, but by the production of goods and services available to trade for money.

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The World Looks to Abandon the Dollar as US Sanctions Tighten Their Grip

Money and BanksWar and Foreign Policy

Blog01/15/2020

The US's enthusiasm for sanctions means Europe is learning the price of doing business with the United States and with the dollar.  They're now developing new ways to work around the the US-dominated financial system.

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The European Green Deal Is Every Bit as Bad as Expected

The EnvironmentGlobal EconomyProtectionism and Free Trade

Blog01/15/2020

While the legislation introduced in the US Congress remains fiction under a Republican executive and senate, the Brussels initiative will become law unless there is considerable opposition from EU member states.

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The History and Structure of the Federal Reserve System

The Fed

Blog01/13/2020

The original justification for the creation of another central bank did not allude to the modern goals of “full employment” and “price stability.” Rather, the pleas of the time called for an “elastic currency” that would expand or contract according to the “needs of trade.”

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The Federal "Crimes" of the College Admission Scandal Aren't Real Crimes

Legal SystemMedia and Culture

Blog01/13/2020

All of the “crimes” tied to this case are essentially fictional charges that are derived from some other action. These are "derivative crimes," based on invented violations such as "false statements" or "obstructing the mails."

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