Mises Wire

The Ratification Debate: A Standing Army vs. the Militias

U.S. History


Benjamin Rush was indecent enough to let slip the admission that the Constitution was a national government that ultimately eliminated the states. The other Federalists knew that it was not polite to admit this in public.

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The Fed Plans to Raise Interest Rates—Years from Now


The Fed isn’t here to take away the punch bowl anymore. The Fed is the punch bowl. 

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Thanks to Federal Megaspending, the Trade Deficit Has Only Gotten Worse


The chronic US trade deficit is a direct result of the dollar’s status as the world’s main reserve currency and unabated monetary increases in government spending. More tariffs won't change that. 

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This Is What Could Trigger Big Growth in CPI Inflation

World History


Whether today's Great Monetary Inflation (which began in 2011) will end with sustained CPI inflation remains a wide-open question at this point. Prices could be reined in as in the 1990s, or a 1970s-style inflation could still be in store.

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The G7's Reckless Commitment To Mounting Debt

Global Economy


The global minimum tax rate will not hurt G7 members or large technology giants, but it will devastate small and dynamic countries that need to attract capital and investment and who cannot afford to have the tax rate of global leading nations.

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Texas Says It Can Enforce Immigration Restrictions. Texas Is Right

U.S. History


However one may feel about immigrants, both historical experience and an honest reading of the US Constitution makes it clear that the federal government is not, in fact, empowered to enforce immigration.

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The Origins of Keynesian Economics: How Did It Get So Popular?

World History


Keynes's early critics repeatedly demolished Keynes's theories, pointing  out countless fallacies behind the so-called "new economics." Yet Keynes and his theories only gained in popularity. Why? 

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The Economics of the Extended Family: From Risk Management to Human Capital

Labor and WagesPoverty


Extended families have long functioned to provide alternatives to the state in terms of risk sharing and mutual aid. Other economic benefits include the refinement of human capital and economies of scale.

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