Mises Wire

An American Classical Liberalism


Today's conflicts revolve around the desire to grab hold of someone else's property using the tool of compulsion that is the state. Would we be more peaceful and prosperous if it followed the liberal program? The question answers itself.

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An Austrian Critique of Robert Mundell's "Impossible Trinity"

Protectionism and Free TradeMonetary TheoryOther Schools of Thought


The impossibility theorem, developed by Nobel-winning economist Robert Mundell, paints a false tradeoff between the free movement of capital, fixed exchange rates, and effective monetary policy. Under a gold standard, all three are a possibility.

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Are Monarchies Better for Economic Growth? Here's What the Empirical Evidence Says.

World History


The evidence suggests that monarchies—especially small ones—are more peaceful, stable, and protective of private property than their republican neighbors. 

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A Jobless Recovery Is Coming to Europe

Global Economy


The destruction of the free market, competition, and innovation may seem appealing to some now, but the likely outcome of poor employment, negative real wage growth, and stagnation should be a real cause of concern.

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America’s "Great Men" and the Constitutional Convention

U.S. History


The nationalists in favor of a new constitution in 1787 sent their richest, most schooled,  and most "distinguished" men. Fortunately for them, ceteris paribus, the more distinguished any given gathering, the more statist and reactionary it will likely be. 

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A $15 Minimum Wage Would Be a Huge Blow to the Small Business Economy

Bureaucracy and Regulation


Wage hike advocates effectively seek to force entrepreneurs to raise the costs of production after many of them have barely survived what became a catastrophic 2020 due to the coronavirus pandemic.

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Antal Fekete, Gold, and Central Banks

Monetary PolicyMoney and Banks


Fekete was one of the few old Europeans to recognize the central role of money: on the positive side as a means of amicable division of labor, on the negative side as a casualty and lever of political intervention.

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Aggregated Data Hides the Damage Done by Minimum Wage Hikes

Bureaucracy and Regulation


Much of the harm is disguised by focusing on forecasts of higher aggregate income for the poor. Individuals, on the other hand, are another story. 

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