Mises Wire

Before J.M. Keynes and Stephanie Kelton, there was John Law. The promise of free money never seems to die.

"It is legitimate to use violence against criminals in defense of one's rights of person and property; it is completely impermissible to violate the rights of other innocent people."

The Tenth Amendment to the US Constitution was supposed to affirm the sovereignty of individual states. However, after years of centralization, that amendment has been reduced to what Murray Rothbard called a “meaningless tautology.”

Are rising oil prices responsible for inflation? While some economists and many in the media make that connection, the reality is much different. Inflation occurs because of expansion of the money supply.

Can silver be called a Giffen Good? Probably not, although that fact doesn’t discourage some from looking for the equivalent of a unicorn in economic thinking.

What happens when a corporation resists a government edict because company leaders believe the policy to be morally wrong? The ordeal of Anthropic is a current case in point.

One of the legacies of Keynesian thought is the belief that war is “good for the economy.” While war may help enable employment, nonetheless, its overall legacy is destructive, and even the jobs war “creates” are economically undesirable.

In this week’s Friday Philosophy, Dr. David Gordon reviews Joseph Salerno’s Money, Sound and Unsound, and still finds it golden.

Government entities like the Postal Service operate in a world of market prices, so they are not fully socialist. However, they still are subject to the limitations of socialist calculation problems.

Despite the claims of the chartalists, early American monetary history tells a much different story than one falsely claiming state-issued fiat money undergirded the colonial economy. In fact, much of the historical evidence illustrates Menger’s monetary theory.