Mises Wire

The State of California is now forcing insurance companies to cover homeowners who put their houses in some of the most fire-prone areas. What could go wrong?

There is no more stopping the Mises School. And when the truth finally wins out, because only what is true can also work smoothly in the long run, then the hour of the Austrian School of Economics will have come.

For an advocate of civil republicanism, you could be drafted into the army, or taxed at very high rates, and that's fine because you participated in a process (democracy) in which you helped pick your own rulers. This view of freedom has a few problems.

It is noteworthy to remember that no other American milieu was more enthusiastic in the endorsement of communism than that of Hollywood.

Despite its supposedly strained relationship with the Saudi regime, the Obama administration, for example, still managed to offer the royals of that kingdom a record $136 billion in US weapons between 2009 and 2017.

Had consumers in 1938 been uninterested in a feature-length cartoon, Snow White would have bankrupted the Disney studio. Instead, Walt Disney was richly rewarded for his risk-taking.

The true lesson from Japan is that central planners prefer to gradually nationalize the economy before even considering a moderate reduction in government size and control.

Trade agreements have thus become obsolete tokens of negotiation in larger geopolitical disputes, protectionist tools for managing and interfering with global trade flows. 

Advocates for "blue laws" want to impose more laws on shopkeepers. These moral crusaders should instead start by setting a good example, and stop watching football games, ordering pizzas, or filling up on gas on Sunday.

This immense cooperative system is known as a free-market economy. It was not consciously planned by anybody. It evolved.