Mises Wire

The Marxist dialectic was purported to explain every development in Soviet society. But so much wishful thinking was required that eventually it all just became a subject for jokes.

Why do individuals pay much higher prices for some goods versus other goods? The answer requires understanding the law of diminishing marginal utility. 

The dollar has benefited mightily from the abandonment of commodity money, the Bretton Woods system, and the rise of competing fiat currencies. This is partly why the dollar has come to dominate international trade. 

The 1920s featured political détente, debt liquidations by prior consumer price inflation, an introductory stalling of monetary inflation, a German economic miracle, and a broad-based technological revolution. The 2020s have none of these. 

Decentralized decision-making is critically important in potential emergency situations, because only property owners have the skin in the game that that forces people to think long and hard about the consequences and side effects of their actions.

Staten Island once voted 2-to-1 to leave New York City. The Manhattan overlords ignored the vote. But Staten Island would be better off as a separate city, and the same holds true for Brooklyn and Queens. 

The government spends vast amounts of money on educational programs that aim to give “equal opportunity” to those deemed disadvantaged, but there is little or no evidence that these programs achieve anything.

The Canadian Liberal Party began as a party of classical liberalism, radically supportive of freedom and free markets. But those days are long over.

Mises defends praxeology using philosophical minimalism, that is, by sticking to the core fact that people act and make choices.

China is the model for the economic and political system being promoted in the West, and the Great Reset is the most forthright articulation of that system—although its articulation is anything but perfectly forthright.