Mises Wire

The enemies of the system of free enterprise paid liberalism an unintended compliment when they applied the name "liberal" to their own creed, historically the opposite of what liberalism stood for from the start.

In this short essay recently found in the Mises Institute Archives, Mises goes over the basics of monetary theory and shows why the concept of velocity of circulation is useless for understanding changes in the purchasing power of the monetary unit.

The German "stimulus" package does nothing to actually stimulate true economic growth. If German policymakers were smart, they'd be cutting taxes and spending, while abolishing regulations.

If we choose to break the state monopoly of money and allow private digital currencies to compete, a myriad of different solutions will emerge to serve a myriad of different needs.

The forces of anticapitalism have long latched on to whatever best suits them for pushing their agenda. Whatever the latest injustice may be—from a polluted environment to poverty to racism—the solution is always the end of capitalism.

We're now seeing an economic system where both supply and demand depend on government subsidies, handouts, and monetary schemes. This isn't a market economy.

Euro governments are planning to use the banking system for widespread bailouts in the wake of the COVID-19 shutdowns. This could bring about a new financial crisis.

The Republic of Genoa provides an example of how a small "state" managed to defend itself against much larger states using military resources that were overwhelmingly owned and controlled by private parties.

As Japan has shown, ultralow interest rates can greatly affect a society that was once impressively focused on innovation and investment.

The Constitution is a dead letter. The only way to save its ideals is to rebuild the ideology behind it—laissez-faire liberalism—from the ground up.