Mises Wire

Understanding the Rothbardian Critique of Free Banking

Money and Banks

Does free banking encourage fraud by tolerating fractional reserves? Here's a summary of the debate.

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Unmask America

Big GovernmentHealthPolitical Theory


It is time to get back to normal life, and that starts with visible human faces.

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Understanding Why Government Policies Fail


Gary Galles has in this outstanding book shown how to apply basic economic principles: he can convey free market principles in a simple and memorable way; and he also has a detailed knowledge of the policies he analyzes.

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Understanding Money Velocity and Prices

Money and Banks


The velocity of money does not have a life of its own. It is not an independent variable and it cannot cause anything, let alone offset the effect of increases in money supply on the prices of goods.

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US Military Propaganda in Film, Sports, and TV: It's Everywhere

Book Reviews


From the darkened cinema to the football field to the airport screening line, the US government inflated the actual threat of terrorism and the necessity of an aggressive military response.

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Using the "Natural Interest Rate" In Setting Monetary Policy Is an Impossible Dream


Much talk about the central bank's policy centers on whether the target interest rate is above or below the "natural rate." Unfortunately, we will never know what the natural rate is. 

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Using Goods vs. Exchanging Them: Menger Explains the Difference

Value and Exchange


In a developed economy, the satisfaction of desires can be obtained not only by goods in use, but also by goods in exchange. 

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Unmasking the Latest Bipartisan (and Dangerous) Climate Bill

World History


Republicans put a free market happy face on the latest environmentalist policy prescriptions in DC, but that does not change the fact that centrally planned climate policy is terrible economics.

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