Mises Wire

Many on the Left still cling to the idea that if they can only elect "the right people," everything will be fine. This is a doomed strategy.

The fallacy that labor-saving machines create technological unemployment has not only been disproved by theory but also by the whole history of mankind.

Government policies designed to encourage you — or force you — to "buy local" reduce our standard of living while encouraging class conflict.

Hoppe sees the fundamental difference between the worldviews of Left and Right: The Right accepts the reality of human differences but the Left does not.

The thinking goes that MIT's new GDP-B measure allows the statistician to estimate a “consumer surplus.”

The increasing importance of elite higher education is a symptom of "political capitalism" in which success is determined by political connections rather than by the satisfaction of consumer preferences in the marketplace.

Liberty can be lost and so can the benefits of capital accumulation. The well developed capital structure is not a given. It can be eroded by central banks and by government policies and regulations.

Austerity need not be painful when the contraction of the public sector is accompanied by the expansion of the private sector. Thus, the real solution lies in fostering more progress in entrepreneurship and private ownership.

A "neutral" interest rate cannot be observed through any statistical test or public policy. But central bankers are sure they can find it and use it to endlessly tinker with the economy.

The consequences of counterfeiting are the same regardless of who does it. The counterfeiters are exchanging nothing for something — thus stealing from those who create real value.