Mises Wire

While bankruptcy has a negative connotation in the business world, “Bankruptcy fulfills the crucially important social function of preserving the available stock of capital."

Bassani's book reveals that the drive for decentralized government was far from being a reactionary, postratification political strategy. It was the very cornerstone of the American political system.

A few months ago US national debt exceeded $28 trillion. This number is certainly the one economists usually work with, but does this figure capture a long-term perspective?

Many landlords just received a crash course about how irrelevant their property rights are in Washington.

A case study from Mauritius shows how democratic institutions are used to prevent true independence for oppressed classes and minorities under the guise of "representation" and "equality." 

The federal government, along with pharmaceutical, alcohol, and tobacco companies have spent money trying to put the legalization genie back in the prohibition bottle, so any argument or propaganda will suit their purposes.

Ten states ban happy hour. These laws restrict the sale of alcohol at discounted prices during specially designated times. Unfortunately, many citizens regard these backdoor price controls as perfectly legit. 

Discarding the starry-eyed fantasy of unity is the first step in acclimating Americans to the idea of radical decentralization. Realistically speaking, this will be a drawn-out process marked by stumbling blocks along the way.

This new turn toward obedience to expert-fueled executive power didn’t appear from nowhere. Society has long been moving toward a model of society in which outcomes are more important than the protection of natural rights. 

Mises warned that “there is not such a thing as a scientific ought. Science is competent to establish what is. It can never dictate what ought to be and what ends people should aim at.”