Mises Wire

The Market Economy Has Been Replaced by a "Fiat Economy"

Corporate WelfareMonetary PolicySocialism

Blog07/06/2020

We're now seeing an economic system where both supply and demand depend on government subsidies, handouts, and monetary schemes. This isn't a market economy.

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Private Defense in the History of Genoa

Decentralization and SecessionWorld History

Blog07/04/2020

The Republic of Genoa provides an example of how a small "state" managed to defend itself against much larger states using military resources that were overwhelmingly owned and controlled by private parties.

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The Problem with Measuring "Consumer Sentiment"

Other Schools of ThoughtPhilosophy and Methodology

Blog07/03/2020

Information on consumer sentiment is potentially helpful, but only insofar as sentiment reflects the reality of the economic situation.

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The Irony of Marxist Class Consciousness

CapitalismSocialism

Blog06/27/2020

Marx believed truth could only be fully understood by a certain socioeconomic class. Ludwig von Mises disagreed.

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Why Central Banks Are a Threat to Our Savings

Money and Banking

Blog06/25/2020

Contrary to what many modern economists say, increased saving is not a problem for the economy. The real problem stems from declines in production and saving, and these often result from central banks' monetary policy.

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Why Mises Opposed Both Eugenics and Social Darwinism

Political Theory

Blog06/18/2020

Mises points out that eugenicists’ aim to improve the “quality” of the human race is an incoherent and meaningless goal: there exists no clear and objective standard by which the quality of human beings can be measured.

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Why You Should Read Human Action—Very Carefully

Philosophy and MethodologyPraxeology

Blog06/18/2020

Mises's Human Action is essential reading for any aspiring economist. But there can also be some pitfalls if we read it too casually.

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Savings Are Critical to a Prosperous Economy

Monetary PolicyProduction Theory

Blog06/12/2020

The heart of economic growth is the expansion of real savings. Monetary pumping only destroys wealth and savings.

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