Mises Wire

While economists speak of GDP as a legitimate measure of the economy, a closer look tells us that it is biased toward consumer spending and fails to give a true measure of the value of capital.

"Government" and "state" are terms typically used synonymously these days. But good governance and good law do not require the presence of the state and its monopoly power. 

Governments in the US subsidize immigration through a bevy of welfare programs. The effect of subsidization is predictable: you get more of what you subsidize. This is true for student loans, ethanol, immigrants, and more.

Some economists believe that the balance of payments is what determines currency exchange rates. In fact, exchange rates are always about the purchasing power of some currencies relative to others.

In 2022, Michigan Gov. Gretchen Whitmer used political favors and government grants to maneuver thousands of workers into jobs producing electric trucks. But consumers aren’t interested.

While South Africa’s political authorities pursue genocide accusations against other countries, those same leaders are destroying the nation’s economy and basic infrastructure. This is a failed state.

The “One-China” policy assumes Taiwan to be a runaway province. The people of Taiwan, however, see their country as sovereign, and their reasons have merit.

The “second American Constitution,” was an illegal overthrow of the Articles of Confederation. This nationalist cabal behind the new constitution paved the way for new myths used to hammer the new confederation into a single unified national state.

As the US banking system becomes increasingly unstable, the calls proliferate for even more government intervention into banking and finance. People forget that it was government intervention in the first place that caused these crises.

Javier Milei is trying to undo the damage created by nearly a century of socialism in Argentina. Mises, Rothbard, and Hayek were good teachers.