What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

“Money does not grow on trees” is an old expression of wisdom that seems to have been disregarded by 21st century American policymakers. People all over the world and throughout time base their decisions primarily through lived experience. The US dollar became the world’s reserve currency in the aftermath of World War II, which is now almost eighty years ago. There is virtually no one in power at the American government or in leading institutions who has a living memory from before that period.In fact, the elite status of US currency has been taken for granted and is being eroded by policies that create inflation as well as sanctions that exclude other nations from participating in the global economy that America dominates through its money. There is the danger that the constant erosion

“Money does not grow on trees” is an old expression of wisdom that seems to have been disregarded by 21st century American policymakers. People all over the world and throughout time base their decisions primarily through lived experience. The US dollar became the world’s reserve currency in the aftermath of World War II, which is now almost eighty years ago. There is virtually no one in power at the American government or in leading institutions who has a living memory from before that period.In fact, the elite status of US currency has been taken for granted and is being eroded by policies that create inflation as well as sanctions that exclude other nations from participating in the global economy that America dominates through its money. There is the danger that the constant erosion

Willing buyer and willing seller. These five words form the very basis from which the system of capitalism is based on. You have something you want to sell and if I want to buy it then we either agree or disagree on a price. If we agree then I give you money, take the product, and walk away. And if we disagree then we move on with our days.
In his book, Basic Economics, Samford Professor Thomas Sowell described the role of prices in the economy as “conveying information about an underlying reality while at the same time providing incentives to respond to that reality. Prices, in a sense, can summarize the end results of a complex reality in a simple number.” Prices are determined in a decentralized manner based on the relationship between supply and demand. When a product is in high demand

A coin collection can tell a lot about this nation’s monetary history, and especially what happened nearly 60 years ago after the government debased U.S. coinage. This history is not having a happy ending.
Original Article: What an Old Coin Collection Tells Us about Money from the Past

I was recently given a coin collection that belonged to another relative. Most of the coins in it are not in circulation anymore, and while you don’t see them every day, they are definitely not rare. Most aren’t in good condition either. In fact, they look much worse for wear than the coins you get as change at the grocery store. So, why would anyone bother to save these when they could have spent these coins? The reason is because, up until 1964, our American coins were minted in 90 percent silver.
Why Use Precious Metals in Coins?
Gold and silver are both precious metals, which means that they are scarce and high in quality. They have been used as a medium of exchange since prehistory. As society and governments became more advanced, these metals were minted into standardized coins that

President Biden says he is going to unleash regulators to bring more "competition" to the economy. This is an oxymoron.
Original Article: "Government Imposed "Competition" Harms Competition"

“A fair, open, and competitive marketplace has long been a cornerstone of the American economy, while excessive market concentration threatens basic economic liberties, democratic accountability, and the welfare of workers, farmers, small businesses, startups, and consumers.”
These words were the opening statement of a White House executive order by Joe Biden to save economic freedom in theory by limiting it in reality through government intervention. Biden is right that competition is the cornerstone to a prosperous economy, but the best way to promote competition is less regulation instead of more of it. When business decisions are up to bureaucrats instead of actual business owners accountable to their customer base, it’s the consumer who will lose the most.
Inefficiency of Efficiency

President Biden recently claimed that "trickle-down economics" doesn’t work but transferring wealth from taxpayers to politically connected people is the real trickle-down economics.

Original Article: "Government Redistribution Is the REAL Trickle-Down Economics"

On April 6, 2023, President Joe Biden’s Twitter account sent the following message: “Trickle-down economics doesn’t work.” Trickle-down economics is a phrase that is often thrown around negatively to ridicule those who believe that the free-market system is the best way to regulate the economy. “Trickle-down theory” was never coined by economists, and the term has two possible origins, both of which were meant to discredit those who wanted less government involvement in the economy. It’s an ironic term as well because those who shout that “trickle-down economics doesn’t work” seem to be zealots in the belief that higher taxes paid to the government on all levels will trickle down and eventually benefit everyone.
What Is Trickle-Down Economics?
Because the term “trickle-down” was created as

President Biden pushes a wealth tax as a measure of "fairness." Not only is it unconstitutional, but it’s also bad for the economy.

Original Article: "Biden’s Wealth Tax Is a Trojan Horse Requiring Multiple Manipulations"
This Audio Mises Wire is generously sponsored by Christopher Condon.

While no one expects politicians to be honest, one of the biggest lies that comes from President Joe Biden, members of his party, and those who echo their messages is that “the rich pay less taxes than you.” This crafted statement is designed to stir up emotions at the expense of facts in order to drive popular opinion to support a wealth tax despite its unconstitutionality and lack of support when first proposed in 2020 by Elizabeth Warren, who was decisively defeated during the Democrat primaries that year.
Manipulation 1: Lying through Omission
“The rich pay less taxes than you” creates an image of a Wall Street CEO paying fewer actual dollars annually than a McDonald’s manager. But when authors of articles and politicians make this statement and present the evidence to back it up, it