Mises Wire

Why Modern Economics' Fixation with "Efficiency" Is Dangerous

EntrepreneurshipOther Schools of ThoughtPhilosophy and Methodology

Blog07/05/2019

Efficiency is backward-looking and static, while value creation is future-oriented and aspirational. 

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Lincoln and Trump: Two of a Kind?

Blog07/03/2019

Trump haters are concerned that Trump will "stain" the Lincoln Memorial with a speech on Independence Day. But Trump is extremely unlikely to ever match Lincoln's blood-soaked legacy. And that's a good thing.

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Non-Renewable Resources Never Really Run Out

The EnvironmentEntrepreneurship

Blog07/03/2019

Supply, demand, and prices affect human usage of natural resources in such a way that the most scarce and valued resources are economized and preserved. The practical effect is that valuable resources never really run out.

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Andrew Yang Fears Automation. He Should Fear Inflation.

06/28/2019Power & Market

Without inflationary money, automation means we can work less while at the same time have an even higher standard of living.

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Returns, Refunds, and Opportunity Cost

The EntrepreneurEntrepreneurship

Blog06/28/2019

A business owner who cannot understand why a customer is not happy — or even very disappointed — with getting a full refund for a faulty product has failed to grasp some very fundamental economic concepts.

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Is There a Limit to How Big a Corporation Can Get?

EntrepreneurshipMonopoly and Competition

Blog06/27/2019

Natural constraints on firm size are numerous, and in a truly free market, large firms would be constantly prone to being broken up and put out of business by competition. And all to often, huge firms become more long-lived due to government intervention.

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Review: Capitalism in America: A History

U.S. History

06/25/2019Quarterly Journal of Austrian Economics
Joakim Book reviews Greenspan and Wooldridge's 'Capitalism in America .' What could go wrong with a book from a former Fed chairman? Quite a lot!
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Three Times the Price of Gold Collapsed — And Lessons for Today

Money and BanksGold StandardMoney and Banking

Blog06/25/2019

The gold price is heading up at the moment, but we can still learn a lot from three big collapses in the gold price which occurred after 1934.

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