Mises Wire

Yes, capitalism is more efficient than socialism, but to build a compelling argument for free market capitalism, defenders of liberty must also articulate that it is a superior moral system.

Deficits still matter, largely because they require monetary policies that lead to bubbles, inequality, and the slow Japanization of the US economy. 

Millennial Sam Jacobs went off to college a wealthy but normal young man and came back a socialist. Suddenly his family’s “extreme, plutocratic wealth” became too much of a burden for him. 

What does "the consent of the governed" mean? In 2020, 53 percent of US residents either voted for someone other than Trump or Biden, or didn’t vote at all. It also means about 75 percent of the population did not vote for Biden. 

Market progress through entrepreneurship and innovation means increased production. In a world of scarcity, that benefits all of us in society. That makes it a positive-sum game.

MacMillan's book provides many insights into the true vileness of war, although she strays into some dangerous areas when she accepts the faulty economic notion that wars bring economic benefits through government spending. 

The Boston Tea Party was an opening act in what came to be a violent culture war and war of national liberation. And it helps us understand how America in 2020 could become as bitterly divided as America during the revolution. 

Joe Biden says: "I will work as hard for those who didn't vote for me as those who did." Does anyone actually believe that?

Human action cannot be analyzed in the same way that one would analyze objects. These quantitative methods do not improve our knowledge of the driving causes in economics.

Claims that market arrangements involve the unethical “using” of others are of lengthy pedigree. But they are also of questionable merit.