Mises Wire

How People Determine the Value of a Good

Philosophy and MethodologyValue and Exchange


In contrast to the imaginary way that mainstream economists present value, Austrian economists properly use ordinal rankings to determine value.

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How US States Could Pave the Way for Currency Competition

Economic PolicyGlobal EconomyInflationMonetary Policy


The fiat US dollar, while still the world's "reserve" currency, is being imperiled by reckless actions by monetary authorities. Other countries are taking notice—and action.

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Housing Prices Are Falling As Reality Sinks In

Booms and BustsThe FedBusiness Cycles


Rental prices are falling as the markets adjust to new realities. The Austrian business cycle theory explains why this is happening.

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How "Squatter Democracy" Created America's First Welfare Program

U.S. History


After 1820, growing numbers of propertyless squatters were voters, and this was an opportunity for politicians to offer cheap land in exchange for loyalty to the Democratic Party. 

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How Capitalism Redefined Masculine Virtue

Media and CultureU.S. History


In the preindustrial world, aggression and physical domination were often labeled as "masculine" virtues because they were useful for survival. The rise of the cooperative market economy changed all that. 

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Higher Corporate Profit Margins Aren't Causing Inflation

Booms and BustsEconomic PolicyInflation


The usual suspects such as Robert Reich claim that corporate profits are causing inflation. Actually, increases in corporate profits are tied to increases in inflation.

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How Markets Self-Corrected during the 1819 and 1919–21 Recessions

Booms and BustsKeynesMonetary PolicyU.S. EconomyBusiness Cycles


With the US economy facing a severe downturn, we should remember that two recessions ended quickly because the government didn't intervene at all.

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