Mises Wire

Although Adam Smith is well-known for emphasizing division of labor, his analysis was woefully incomplete, as Dr. Mark Thornton points out. 

In most nations of any size, sectionalism is almost inevitable. How nations handle such divisions, historian Frank L. Owsley, determines if sectionalism is peaceful or becomes violent. It became violent in the US in 1861.

There is no reason to be surprised by the total lack of commitment to any ideological standards. Nor is there any reason to expect anything better. That's just how American politics works. 

One of the Austrian arguments against using mathematics to model economic phenomena is that there are no constants in economics, as things always are changing.

Thanks to the Federal Reserve, the US government will always have enough printed money to fund it tyrannical schemes.

Economic historians usually are mistaken when looking at the causes of the Panic of 1857. Douglas E. French sets the record straight.

Will the Make America Healthy Again (MAHA) succeed? If the regulatory story of DDT is a prime example of government regulation in action, then the answer is a resounding no.

Politicians and the media always express shock when they hear about the latest fraudulent schemes involving the welfare system. They shouldn't be surprised, as nothing incentivizes fraud like the welfare state.

In this week’s Friday Philosophy, Dr. David Gordon examines the demands of philosopher Peter Unger, namely, that we be forced to give up our wealth to fund a world welfare state. Suffice it to say that Dr. Gordon is not impressed with Unger’s arguments.

Ironically, an acatallactic pseudo-theory of money that emerged from a school of thought that rejected theory in favor of an empirico-realistic, historical theory of money now finds it intellectually acceptable, not only to reject catallactic economic theory, but also empirical history.