Mises Wire

Mainstream economics is fraying at both ends. It is vague, and lacks precision. Austrian economics, meanwhile, is rooted in concrete human action.

For Mises "human society is thus spiritual and teleological," the "product of thought and will."

John Stuart Mill and Ludwig von Mises realized that democracy can only work if the voters pay more into the system than they take out of it.

45 years ago today, on August 15, 1971, President Richard Nixon officially closed the gold window.

A fall in the US velocity of money M2 to 1.44 in June from 1.51 in June last year and 2.2 in May 1997 has alarmed many experts.

If Brazil truly is "the country of the future," it will be due to it embracing the ideas of Mises, Hayek, and Rothbard.

The cronyism on display at the Brazil Olympics seems almost harmless compared to the chaos in far-more-socialist Venezuela. 

The key to economic growth is not optimism or good "animal spirits." They key is increased productivity and wealth accumulation.

Maybe the best thing we can do then is to let ourselves be guided by Bastiat's saying: "The worst thing that can happen to a good cause is, not to be skillfully attacked, but to be ineptly defended."

Delving further into the jobs report, we see that many of the jobs that were supposedly created were jobs in government.