Mises Wire

Would You Hire an AI-powered McRobot or a Human Employee?

Bureaucracy and RegulationEconomic PolicyLabor and Wages

Blog09/11/2023

The decision to use artificial intelligence–powered robots in the fast food industry depends upon differences in costs and performance between humans and robots. State minimum wage laws are pushing the industry toward robots.

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Will the BRICS Dethrone the U.S. Dollar?

Money and Banks

Blog09/09/2023

Most BRICS currencies are weak and getting weaker, and creating a new joint  "BRICS currency" won't solve the problem.  Joining together a bunch of weak currencies does not somehow create a strong currency.

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Why Stabilization Policy is Destabilizing

The FedInflationMonetary PolicyU.S. Economy

Blog09/03/2023

The call for "price stabilization" was part of the recent Republican debate. Despite its attractive appearance, having the Fed try to "stabilize prices" is a very bad idea.

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Why the "Just Wage" Theory Doesn't Make Much Sense

Labor and Wages

Blog09/01/2023

Just-wage theory tells us that an employer cannot reduce his workers' wages below some presumed "cost of living." Yet, that same employer can be permitted to reduce the worker's wage to zero if the worker has been replaced by a machine. 

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Why Governments Love Political "Crimes" Like Treason and Sedition

U.S. HistoryWorld History

Blog08/24/2023

In a free society, political crimes like treason and "seditious libel" are few and far between. Under despotic regimes, on the other hand, political crimes multiply. 

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What Mises Really Thought about Fascism

PoliticsThe Police StateWorld HistoryPolitical Theory

Blog08/18/2023

When Mises wrote that the fascists had "saved European civilization," he could have been describing Francisco Franco of Spain, who kept Spain from becoming a communist dictatorship.

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Why Governments Hate Honest Money

Blog08/09/2023

They regime wants to make you poorer so you are easier to control. Honest money is the best weapon against this.

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What Is the Right Inflation Target for Central Banks?

The FedInflationMonetary PolicyU.S. Economy

Blog08/05/2023

The "2 percent" inflation target is purely arbitrary, and mainstream economists can't agree on the "right" level. It's all folly, and Austrian economics explains why. 

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