Mises Wire

National Review’s purging of the John Birch Society was done because the Birchers began to turn against the Vietnam War.

American journalists and academics have invented a fairy tale in which “free market orthodoxy” has dominated political thinking in America for the past forty years. This is not even slightly true, but pundits repeat the lie again and again.

The US economy is hooked on easy money and artificially low interest rates. Huge credit expansions are not “stimulating” the economy; they are destroying it.

Only a couple years ago, climate change was a major political issue. Now it’s strangely absent from public discourse. Why did this happen? Because, at least for now, it stopped being the most useful way for elites to justify their power grabs.

If employment reports continue to show growing economic stagnation, calls for more monetary inflation and government spending will only grow.

When there is a cascade of failing businesses at one time, it is easy to think of it as an economic contagion that is a by-product of capitalism. Yet, a cluster of business errors can be laid firmly at the feet of government.

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In criticizing the progressive notion of equity, or equality of results, critics of such views embrace an order of “meritocracy.” F.A. Hayek, however, understood that in a free society, inequality is inevitable, and it is something we must accept.

The drive to religious freedom in America was carried out overwhelmingly in the state legislatures—and the federal First Amendment had almost nothing to do with it.

The so-called K-shaped economy—where some experience positive growth and others negative growth—is perfectly explained by Austrian business cycle theory and the Cantillon effect.