Mises Wire

Biden used government spending to bloat growth and job figures so aggressively that the next administration will see a recession if it reduces public-sector growth.

Austrian economics today needs critics. It doesn‘t need the critics (like Paul Krugman) who cannot give valid and accurate criticisms, but rather people who actually understand the concepts upon which Austrian thinking is built provide a real challenge.

While it is often framed in the media as a battle between principled conservatives and an angry, non-ideological movement focused solely on personal loyalty to Trump, the current civil war on the American right is only the latest chapter in a much older story.

Even if whole regions of the country vote overwhelmingly against a president, they are still forced to submit to four years of that president’s rule-by-decree.

The original Mont Pelerin Society meeting in 1947 featured Ludwig von Mises, whose warnings about the dangers of socialism and totalitarianism had gone unheeded. In the wreckage of World War II, the truth of his message should have been obvious. It wasn't.

Even though DEI (diversity, equity, and inclusion) has taken a beating in some state legislatures, it still has a corrupting influence, especially in higher education. As Murray Rothbard pointed out, egalitarians are “at war with nature.”

Modern American culture is statist to the core. The typical school curriculum tells students that capitalism is evil and socialism is good.  This only gets worse in college. 

On this day 106 years ago, the warring parties of World War I agreed to an armistice, ending more than four years of slaughter in the trenches. As Ludwig von Mises recalled, governments also slaughtered their own currencies to pay for the bloodshed.

Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.

Most economists are political apologists masquerading as economists. They are Rothbard’s “court historians” with degrees in economics instead of history.