Mises Wire

Mark Thornton encourages you to join the Mises Institute.

US National Debt now exceeds $18 Trillion with no end in sight. Will we see national default on the debt or hyperinflation?

Tucked deep inside the 1,603-page federal spending measure is a provision that effectively ends the federal government's prohibition on medical marijuana and signals a major shift in drug policy.

Are Rising Subprime Mortgages a Small Sign of Big Things to Come?

In Europe so far; Germany has been repatriating gold since 2012 from the US and France, The Netherlands has repatriated 122.5 tonnes a few weeks ago from the US, soon after Marine Le Pen, leader of the Front National party of France, penned an open letter to Christian Noyer, governor of the Bank of France, requesting that the country’s gold holdings be repatriated back to France, and now Belgium is making a move.

Since neither Left nor Right have a serious answer to police malfeasance, we asked the inimitable Bob Murphy to join us and make sense of how private defense agencies might work in an anarcho-capitalist society.

Mises Daily Tuesday by Frank Shostak:

The laws of physics can never be absolutely established. For some other law may prove more elegant or capable of explaining a wider range of facts. Hypotheses must be constantly tested. Economics is not like this.

Mises Daily Tuesday by Matt McCaffrey: "The Mises fellowship has been the single most important influence in my development as a scholar," writes Matt McCaffrey.

Mises Daily Monday: James Grant Explains "The Forgotten Depression".

Matthew Feeney writes on the Cato Institute blog about taxi deregulation. As expected, Feeney comes out in favor of deregulation, but also—which should perhaps be equally expected—manages to completely undermine the case for the market.