Category Archive: 6b) Austrian Economics

Der „Great Reset“ ist der Weg in den Sozialismus, vor dem Mises uns gewarnt hat

Durch die bloße Kraft seiner intellektuellen Arbeit etablierte sich Ludwig von Mises als einer der bedeutendsten Intellektuellen des 20. Jahrhunderts. Seine Abhandlung Human Action ist bis heute ein grundlegendes Werk für die Österreichische Schule der Nationalökonomie.

Read More »

China’s social credit system – a new Cultural Revolution

The Cultural Revolution of the 1960s was a comprehensive effort by Mao Zedong to regulate how people think and behave. Citizens were forced to read the “Red Bible” and honor the Communist Party with quasi-religious rituals. Mutual supervision was encouraged throughout all of society. People were told that the way of thinking and behavior advocated by Mao Zedong was the only correct one.

Read More »

Why Does Money Have Value? Not Because the Government Says It Does.

Why do individuals desire to have money, which cannot be consumed and produces nothing? To provide an answer to this one must go back in time to establish how money emerged. Original Article: "Why Does Money Have Value? Not Because the Government Says It Does." This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

Read More »

Berliners in 2021 Want to Expropriate Private Housing

The Berlin “housing crisis” has, of course, many causes. But most, if not all of them, are government made. Unfortunately, however, people blame “capitalists” for their plight.

Read More »

Warum Geld seinen Wert nicht vom Staat erhält

Warum hat der Geldschein in unserer Tasche einen Wert? Einigen Kommentatoren zufolge hat Geld einen Wert, weil die Regierung, die an der Macht ist, dies sagt. Für andere ist der Wert des Geldes auf die gesellschaftliche Konvention zurückzuführen. Dies bedeutet, dass Geld einen Wert hat, weil es akzeptiert wird, und warum wird es akzeptiert?

Read More »

“Shortages” Aren’t Causing Inflation. Money Creation Is.

The current surge in inflation is not due to a shortage of supply as central banks want us to believe. It is primarily due to soaring consumer demand fueled by monetary creation.

Read More »

Fabrice Testa on Super Entrepreneurship

Entrepreneurship is a method, and it’s also a mindset. Fabrice Testa has written a book that brilliantly integrates the two: he calls the integration "Super Entrepreneurship," and his book title is therefore Super Entrepreneurship Decoded (Mises.org/E4B_139_Book).

Read More »

Biden Bizarrely Claims That Government Spending Is Costless

There is only one way to describe the fiscal mindset of those in the White House and in Congress who are proposing new federal budgetary expenditure and taxing increases in the trillions of dollars: a fantasy land of financial irrationality.

Read More »

Age-Adjusted Mortality Is at 2004 Levels. Yet They Tell Us Covid Is Worse Than the 1918 Flu.

Last week, the media again tried to ratchet up the public’s fear over covid-19 by labeling it more deadly than the 1918 flu epidemic. “COVID-19 Is Now the Deadliest Disease in U.S. History,” reads one headline from an NBC TV affiliate. Considering the realities of cancer and heart disease, that headline is absurdly false.

Read More »

The Washington Post and the JFK Records Deadline

In my blog post yesterday entitled “Mainstream Press Silence on the JFK Deadline, I took the mainstream media to task for remaining steadfastly silent about the upcoming October 26 deadline for the release of the CIA’s long-secret JFK assassination-related records.

Read More »

Why Worrying about Everything Is Bad Foreign Policy

The subtitle of John Mueller’s excellent new book suggests that something unusual is in store for the reader. If someone is called complacent, he is hardly being complimented; how then can there be a “case for complacency”? In brief, Mueller thinks that most of the threats and dangers that confront nations are really not that much to worry about, if they are not altogether imaginary.

Read More »

50 years since the closure of the “gold window”

President Nixon’s unilateral decision to sever the last link between the dollar and gold had wide ranging and long lasting consequences for the global economy and for the entire monetary system. The end of sound money facilitated and accelerated the concentration of power at the top and the ability to manipulate the currency allowed politicians and central planners to further expand the state’s reach and push ahead with populist, reckless and...

Read More »

“Shortages” Aren’t Causing Inflation. Money Creation Is.

For central bankers and mainstream analysts the recent inflation outburst is only a transitory phenomenon which has nothing or very little to do with the massive monetary and fiscal stimuli unleashed during the pandemic. Although the Fed has recently conceded that price pressures are persisting longer than expected, the surge of inflation is allegedly due to supply bottlenecks caused by the pandemic.

Read More »

Why Does Money Have Value? Not Because the Government Says It Does.

Why does the dollar bill in our pockets have value? According to some commentators, money has value because the government in power says so. For other commentators the value of money is on account of social convention. What this implies is that money has value because it is accepted, and why is it accepted?

Read More »

The Economic Foundations of Freedom

Animals are driven by instinctive urges. They yield to the impulse that prevails at the moment and peremptorily asks for satisfaction. They are the puppets of their appetites. Man's eminence is to be seen in the fact that he chooses between alternatives. He regulates his behavior deliberatively.

Read More »

Berliners in 2021 Want to Expropriate Private Housing

On September 6, 2021, the city-state of Berlin, Germany’s capital, held a referendum: voters in Berlin had to decide whether thousands of housing units owned by “large real estate firms” should be nationalized. 56.4 percent voted yes, 39 percent no. 

Read More »

Without Lockdowns, Sweden Had Fewer Excess Deaths Than Most of Europe

It’s now been more than eighteen months since governments began the new social experiment now known as “lockdowns.” Prior to 2020, forced “social distancing” was generally considered to be too costly in societal terms to justify such a risky experiment.

Read More »

Market Economy Beats Planned Economy

Throughout the next weeks, we will regularly feature the keynote speeches held by our distinguished experts at this year’s digital Free Market Road Show.  The times we are living in – the pandemic – are times when our fundamental values are threatened maybe more than ever in modern times.

Read More »

Currency Debasement and Social Collapse

Knowledge of the effects of government interference with market prices makes us comprehend the economic causes of a momentous historical event, the decline of ancient civilization.

Read More »

Yes, the US Government Has Defaulted Before

The regime is trying to whip up maximum hysteria or the chances that the US government could default on its debts if the debt ceiling is not raised. So far, the financial markets don’t seem to care that much, as ten-year Treasurys over the past week have barely risen above 1.5 percent, and not even matched last March’s recent high.

Read More »