Mises Wire

Since the end of World War II, the US dollar has been the world's reserve currency. That status may well change because US monetary authorities insist on inflating the dollar into oblivion.

The regime has increasingly been consumed with paranoia over threats to itself—propagandistically termed "threats to democracy"—while real crime against private citizens is clearly not a priority at all. 

After governments create crises, they use those crises to seize new powers. After the crisis subsides, governments give up some, but not all, of their new authority, which we call the ratchet effect.

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.

While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.

Can a government regulatory system be reformed? In a word, no. The free market is always the best regulator of quality and safety.

Many people believe that the board game Monopoly, developed during the Great Depression, mimics a real-world capitalist economy. Monopoly is a game, not real life.

China's authoritarian gerontocracy has built a Doom Loop with Chinese characteristics, with over half the economy now crashing.

David Hume, Adam Smith, and Étienne de Condillac observed that money is neither a consumers' good nor a producers' good and that, therefore, its quantity is irrelevant for the wealth of a nation.

Contrary to the government's line that "inflation hurts everyone," inflation really is a wealth transfer from those without political power to the politically connected.