Economic liberalism advocates for a clear separation between government and commerce, allowing the market to operate independently without state interference. This philosophy, termed “laissez-faire,” posits that individuals pursuing their self-interest ultimately benefit society without central organization, planning, or control. However, government intervention disrupts natural market processes.In a capitalist society, all firms should enjoy equal rights in commerce, free of overreach. Government intervention—altering voluntary buyer-seller interactions and contracts—can drastically affect market operations. For instance, rent control policies dictate lease terms and set maximum rents that landlords may charge tenants, creating a significant disparity between government regulation and

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.

For nearly two centuries the United States has been an expansionist power. Though it was the War of 1812 when the U.S. solidified its dominion over the Americas, it was at the twilight of the Spanish-American War when the American Empire finally came of age. The first two decades of the 20th century marked America’s transition — for better or worse — into a global superpower.By the end of the First World War, the United States had solidified itself as an emerging global power until finally asserting itself as the world’s dominant ascendancy in the aftermath of World War II. From 1945 and over the course of the next fifty years, the U.S.’s sphere of influence would continue to expand its global network of military installations in order to curtail Soviet influence. Now, nearly three decades

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.

Since its establishment in 1979, the Islamic Republic of Iran has become the third-largest threat to United States national security. It may therefore seem like the ideal strategy to combat this threat would be one that is confrontational and aggressive. However, this approach has proven largely ineffective. The truth is that hawkish policies stressing interventionism only escalates tensions with adversarial foreign powers. Moreover, such actions tarnish America’s international image. While we should treat Iran with caution, military action—whether by congressional declaration of war or executive decree—would be futile and counterproductive.Firstly, military intervention tends to breed resentment within local populations. Secondly, regime-change wars often create power vacuums and reduce

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.

When we consider markets, we typically think of commerce – the buying and selling of goods and services, international trade, investing, supply and demand. Markets are the backbone of our economy. Almost everything has a market – food, medical care, toys, films and entertainment, weapons, drugs, stocks. But there is one market that surpasses them all in importance, without which no other market could exist – the labor market.Labor is crucial for commerce. Without people to produce goods and services, commerce would cease to exist. Businesses rely on labor to function, creating a demand similar to that of material goods and services. In other words, the labor market is the foundation on which all other markets depend.In an age where everyone feels the need to have an opinion on just about