Mises Wire

Economists who have written on punishment find Rothbard's “double restitution” idea puzzling, because they think about it only in terms of economic efficiency. But Rothbard's theory is based on a moral principle.

James Tift Champlin (1811–82) was born in Colchester, Connecticut.

While the Left believes itself to be the friend of the downtrodden, the fact is that the Left supports policies that hinder countless Americans of all backgrounds in attaining economic success for themselves and their families. 

Just how is this magic created? The spurring of demand in the midst of a covid-created depression. The wizards at the Fed and Treasury have created an intoxicating frothy brew for stock and home buyers alike.

The mother of all monetary stimuli could turn out to be worse than a dud—a catalyst to a slide into further recession just as the supply shock of pandemic recedes.

Far from being a tool of "exploitation," industrialization and free trade are proven strategies to bring higher standards of living to the developing world.

Ludwig von Mises viewed sound money as a limit on government power and as "an instrument for the protection of civil liberties against despotic inroads on the part of governments. "

The most important insight of the Fed's move to increase its inflation target is this: central banks don't much like to follow "rules." They make the rules.

Advocates for looting are now claiming that looting doesn't really hurt anybody but evil corporations. In truth, looting is a disaster for many families, business owners, and the neighborhoods themselves.

The best way to think about tradition is to view it like capital accumulation. Knowledge is accumulated through countless centuries of trial and error. The state seeks to destroy historical consciousness and old ways of life to secure power.