In office for just over nine months, Argentine President Javier Milei continues to face enormous economic and political challenges. His support from Congress and the Senate is fragile, and the president’s opponents are trying to mobilize the masses against his policies. This makes success in the economic sphere all the more urgent. The aim here is to find a way out of stagflation—the simultaneous occurrence of stagnation or recession and inflation—in which the Argentine economy currently finds itself as quickly as possible.The signs are not good. When the Western industrialized nations fell into stagnation in the 1970s, it took almost a decade for price inflation to be defeated to some extent and for economic growth to pick up again. Milei doesn’t have that much time, even though a lot has

Anarchocapitalism does not fall into the same category as socialism, whose establishment and maintenance require violence. Anarchocapitalism arises spontaneously from the removal of barriers that stand against the natural order of things.
Original Article: The Path to True Freedom is Systematic Privatization

Politics in all its variants, particularly the politics of political parties, is the archenemy of freedom, prosperity, and peace. Yet, wherever one looks, more government is invoked as the solution.
Very rare are the voices that claim that a different way is possible. Few speak out in favor of anarchocapitalism and a libertarian social order.
It is quite common nowadays to announce with confidence the verdict that anarchism, a society free of a repressive state, is not possible. For most people, a libertarian social order is a pipe dream. False accusations abound, such that anarchocapitalism would bring injustice and disadvantage the poor.
The precarious standing of libertarianism has partly to do with how history evolved. Societal evolution took a wrong turn when Rome vanquished Carthage,

Whether political elites promote outright socialism or interventionism, thanks to the reality of economic calculation, they are advocating a failed economy.

Original Article: "Why Mises’s Theory of Economic Calculation Still Is Relevant Today"

Not many are aware that one of the greatest works against the encroachment of the state originates from a German thinker. As early as the late eighteenth century, Wilhelm von Humboldt (1767–1835) raised the question of the general limits of state activity. Humboldt wrote his Ideas for an Attempt to Determine the Limits of the Effectiveness of the State in 1792. While individual sections of it appeared in the Berlinische Monatsschrift, the complete text was published in 1851 through his estate.
Principle
According to Wilhelm von Humboldt, the basic principle of the limits of state activity lies in its strict necessity. Humboldt’s theoretical considerations lead to the general conclusion that state activity must not be subject to utility but to necessity. This “principle of necessity” is

Until the publication in 1920 of Ludwig von Mises’s work on the problem of economic calculation in socialism, there was no scientifically useful analysis of the economics of the socialist economy. With that work , and its development in the comprehensive treatise Die Gemeinwirtschaft (1922 and 1932, published in English in 1951 as Socialism: An Economic and Sociological Analysis), Mises demonstrated that because of the absence of private ownership of the means of production, rational economic accounting is not possible under socialism.

Dies ist der dritte Teil der Artikelreihe zu Ludwig von Mises‘ Buch „Die Gemeinwirtschaft. Untersuchungen über den Sozialismus“. In dieser und den nachfolgenden Artikeln folgen wir der zweiten umgearbeiteten Auflage von 1932.

While socialists posit socialism as a humane and ethical system, it is anything but that. Mises understood its brutality long before socialism gripped the world.

Original Article: "How Marxism Abuses Ethics and Science to Deceive Its Followers"
This Audio Mises Wire is generously sponsored by Christopher Condon.

In his 1922 book on socialism, Die Gemeinwirtschaft, Ludwig von Mises attributes socialism’s attractiveness to the claim that Marx’s doctrine would be both ethical and scientific. In truth, however, Marxism represents a metaphysical dogma that promises an earthly paradise yet threatens civilization itself.
Thesis of the Inevitability of Socialism
Marxism explains that immoral capitalist economies will necessarily be replaced by socialist systems that meet higher moral standards. Socialism promises to do away with the irrational private economic order and install a rational, planned economy. Socialists proclaim that hierarchical capitalist production will give way to a cooperative order without subordination:
Socialism appears as a goal towards which we have to strive because it is moral

In his 1922 book, Gemeinwirtschaft, Ludwig von Mises unmasks the intellectual distortion that is social Darwinism. Based on determining the dynamics of socialization through the principle of the division of labor, Mises shows that society is cooperative; that peace, not war, is the father of human progress.

Ludwig von Mises published Die Gemeinwirtschaft: Untersuchungen über den Sozialismus in 1922 (translated into English as Socialism: An Economic and Sociological Analysis, 1951). In more than five hundred pages, the most prominent representative of the Austrian school offers a comprehensive and deep analysis of the “socialist phenomenon.”

Die Konsequenzen der Energiewende und der Deindustrialisierung Deutschlands erinnern an den amerikanischen Morgenthau Plan von 1944. Dieser sah neben der territorialen Zerstücklung die Umwandlung Deutschlands in einen Agrarstaat vor. Zehn bis zwanzig Millionen Menschenopfer sollten in Kauf genommen werden.

Das Weltwirtschaftsforum (WEF) wurde 1971 vor 51 Jahren gegründet. Es hat im Laufe der Jahrzehnte immer mehr an Bedeutung gewonnen und ist zu einer Plattform für futuristisches Denken und Planen geworden. Als Treffpunkt der globalen Elite bringt das WEF die führenden Persönlichkeiten aus Wirtschaft und Politik sowie einige wenige ausgewählte Intellektuelle zusammen.

Die Russen seien „eschatologisch auserwählt“, behauptet Alexandre Dugin – der prominente russische Philosoph und vorgebliche Mentor von Präsident Wladimir Putin. Russland muss sich gegen den falschen Glauben, die Pseudoreligion des westlichen Liberalismus und die Verbreitung seines Übels stellen: Gegen Moderne, Szientismus, Postmoderne und die Neue Weltordnung. Als geographisches „Dreh- und Angelgebiet“ muss Russland seine Position im Kernland des eurasischen Kontinents zurückgewinnen.

The recent outbreak of price inflation with the jump to an annual rate of 8.6 percent in May 2022 came as a surprise to the US central bank (the Federal Reserve). Having ignored the warnings of the Austrian school economists, the policy makers were paralyzed in the face of a phenomenon they deemed impossible to happen. None of their forecasting models had triggered an inflation alert.

Russians are “eschatologically chosen.” They must stand against the false faith, the pseudoreligion of Western liberalism and the spread of its evil: modernity, scientism, postmodernity, and the new world order. This is the thesis of Aleksandr Dugin, the prominent Russian philosopher, and a mentor of the Russian president Vladimir Putin.

Money velocity’s role in forcing up prices is misunderstood because today’s monetary "authorities" fail to consider how new money is injected into the economy.

Too much government spending and loose monetary policy lead to rising prices combined with falling economic growth rates. All Keynesian roads lead to stagflation. It is the result of economic mismanagement. Again and again, the belief has been proven wrong that central bankers could guarantee the so-called price stability and that fiscal policy could prevent economic downturns.

A monetary system that allows the creation of money out of thin air is vulnerable to the fits of credit expansion and credit contraction. Periods of credit expansion typically occur over many years and even decades while the phases of credit contraction happen like sudden implosions. The monetary policy makers tend to promote the prolongation of credit expansion because they fear deflation.

Ein staatliches Fiat-Währungssystem mit einer nur teilweisen Deckung des Geldumlaufs durch die Bankreserven macht es möglich, dass die Geschäftsbanken mehr Geld als in Umlauf bringen als sie an Bargeld halten. Das sogenannte Giralgeld wird als Bankeinlagen gleichsam aus dem Nichts geschaffen.

Über „die Inflation” wird viel Irreführendes geredet. Von Politikern, Zeitkommentatoren und selbst von manchen Ökonomen. Schon die am meisten verbreitete Definition ist falsch. So heißt es, „Inflation” sei ein anhaltender Anstieg der Preise. Weiterhin wird behauptet, dieser Anstieg ließe sich messen und demnach ergebe sich das „Preisniveau” und die „Inflationsrate”.

Hat die ukrainische Krise eine Lösung, und wenn ja, welche könnte es sein? Welcher Vorschlag käme von Mises?

This second part of the series about the Principles of Economics treats Menger’s exposition of the economy. In continuation of the first part, which covered the general concept of goods, the part on the economy treats the role of economic goods in relation to human wants.

Das Weltwirtschaftsforum (WEF) wurde vor fünfzig Jahren gegründet. Es hat im Laufe der Jahrzehnte immer mehr an Bedeutung gewonnen und ist zu einer Plattform für futuristisches Denken und Planen geworden. Als Treffpunkt der globalen Elite bringt das WEF die führenden Persönlichkeiten aus Wirtschaft und Politik sowie einige wenige ausgewählte Intellektuelle zusammen.

Klaus Schwab of the World Economic Forum has big plans for a "sustainable" future. Most of it involves the destruction of markets and basic human rights.

The United Nations has been the key institution in setting the stage for a global “Great Reset” devoted to global management of human society and of markets.

About twenty-four hundred years ago, the Greek philosopher Plato came up with the idea constructing the state and society according to an elaborate plan. Plato wanted “wise men” (philosophers) at the helm of the government, but he made it also clear that his kind of state would need a transformation of the humans.

The world is currently in the midst of a newly aggressive drive to bring about a new socialist order through a powerful and "efficient" technocratic state. This new order has been labeled as "progressive," but it is merely the latest version of the socialist impulse which we have seen before in the form of socialism and communism. 

In his Man, Economy, and State, Murray N. Rothbard investigates not only the role of the capitalist but also that of the entrepreneur in a market economy. Rothbard uses the theoretical concept of the evenly rotating economy (ERE) to compare the role of the capitalist to that of the entrepreneur. Entrepreneurs earn profits in so far as they successfully correct the maladjustments in the real economy and move it closer to the ERE without ever attaining that state.

However high the death rate of the COVID-19 coronavirus becomes, the governmental response to the threat will be even more dangerous. If the current blockade of economic life continues, more people will die from the countermeasures than from the virus itself. In a short time, the basic supply of everyday goods will be at risk. By interrupting the global transport and supply chains, important medicines will be missing and food supplies will be insufficient.

André de Godoy: Ludwig von Mises mentions in his books that credit expansion is one of the causes of the inflation beyond the monetary expansion. What are the similarities and differences between those two phenomena?

Tu ne cede malis, sed contra audentior ito

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