Capital: Critique of Political Economy, Vol. 1 Edited by Paul Reitter and Paul NorthTranslated by Paul ReitterPrinceton University Press, 2024In September, Princeton University Press released a new English translation of the first volume of Capital. The editors, Paul Reitter and Paul North, tell us that the new translation is the product of five years’ labor. In this review, I’d like to ask what I am sure they would regard as an impertinent...
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Category Archive: 6b.) Mises.org
Private Business and State Power in an Age of Bailouts, Censorship, and Easy Money
The Misesian: Unfortunately, we live in an age of a “mixed economy” and “regulated capitalism.” This means that the private sector and the government sector are mixed together, and it’s not always clear where the state ends and the private sector begins. How can we determine if a private company is a true partner of the state— truly benefiting from state power—or if the private company is really a victim of the state?Robert P. Murphy: Let me say at...
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Cronyism in America
How many times have you seen a politician, businessman, union, or activist group clamoring for the government to do something on the grounds that it will improve the public weal? “We need higher minimum wages to benefit the working class,” a union official says. A Rust Belt politician claims, “Higher tariffs on steel goods protect American manufacturing and create jobs.” An American Medical Association spokesperson declares, “The government has a...
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The Misesian, vol. 2, no. 1, 2025
On the night of the Boston Tea Party in 1773, American insurrectionists donned disguises and destroyed a shipment of tea imported by the East India Company. The protestors boarded privately owned ships in the harbor and threw the tea overboard. Later that night, the activists discovered another tea shipment that had been unloaded at a warehouse. Not content with having destroyed most of the company’s import, they broke into the warehouse and...
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The Fed, With No Earnings, Is Taking Us on a Magic Carpet Trip
Most Americans realize that our federal government has, in recent decades, spent so recklessly that it runs ever-increasing annual federal budget deficits (currently nearly $2 trillion) and now sits on over $36 trillion in outstanding federal debt. This spending—overseen by Congress and the Executive branch—has been profligate since the 1960s Great Society, wars in Vietnam and the Middle East, the 2008-09 financial crisis, the ongoing Obamacare...
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The United States Needs a Spending Chainsaw
The latest figures published by the Department of Government Efficiency (DOGE) are staggering. $75 billion saved in two weeks. Some of the items they have slashed are astonishing, including payments to transgender musicals in Ireland, DEI in Serbia, or decolonization of curriculum vitae. This is a two-week result, so it should be applauded. However, there is a lot more that needs to be done.The Congressional Budget Office (CBO) estimates that the...
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The Human Trend
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...
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Just War and Lost Cause Mythology
Rothbardian libertarianism upholds liberty as an ethical and moral standard, and for this reason it is often criticized for being idealistic and utopian. Addressing this critique, Duncan Whitmore argues that the mere fact that we live in a statist society, in which all our liberties are under siege does not mean the fight for liberty is a lost cause. His point is that “the seeming remoteness of victory today does not mean that victory will never...
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Why the Bureaucracy Keeps Getting Bigger
[This article is adapted from “Bureaucracy and the Civil Service in the United States.”]Bureaucracy is necessarily hierarchical, first because of the Iron Law of Oligarchy, and secondly because bureaucracy grows by adding more subordinate layers. Since, lacking a market, there is no genuine test of “merit” in government’s service to consumers, in a rule-bound bureaucracy seniority is often blithely adopted as a proxy for merit. Increasing...
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Revisiting James Burnham
Neoconservatism was born out of former Trotskyites that became anti-Communists at the end of the Second World War. After the campus protests and student movements of the late 1960s and early ‘70s, their repulsion to the waving of the Little Red Books and protests at Ivy League schools shifted these New Deal Truman Democrats into the hands of the Republican Party. There, early neoconservatives like Irving Kristol and Norman Podhoretz made the...
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Pete Hegseth Should Fire a Lot of High Ranking Military Officers
Politico reports today: A bipartisan group of House lawmakers wants answers from Defense Secretary Pete Hegseth amid reports that President Donald Trump’s administration is gearing up to dismiss high-ranking military officers.“There are valid reasons to remove a General or Flag Officer, but there must be clear, transparent, and apolitical criteria and processes associated with any such dismissal,” Reps. Seth Moulton (D-Mass.), Don Bacon (R-Neb.),...
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A Reader Describes the Realities of Work as a Defense Contractor
Writes “GS”, in response to recent articles on federal contractors and federal employees: Onsite observations of civil servants and their contractors I found what I believe to be averages:25% hard workers and people of integrity like are found everywhere50% that are average to below average25% that are useless as in not working at all and visiting with their friends who are doing the same. There are also certain protected categories who know they...
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The Last Metaphysical Right
The philosopher and teacher of rhetoric Richard Weaver is best known today for his book Ideas Have Consequences, which was one of the founding works of post-World War II American conservatism. Weaver argued in the book that the nominalism of the medieval philosopher William of Ockham produced a decline in Western civilization that has continued until the present day, and he called for a spiritual revival to stop the decline and, if possible, to...
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Would DOGE Dividend Checks Stoke Inflation?
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...
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Nazism, Fascism, and Communism: Warring Sons to a Common Father
What if two of history’s most infamous ideologies—Nazism and Fascism—shared more in common fundamentally with Communism than we often recognize? Recently, a chairwoman of a German political party controversially claimed that Hitler was a communist. While this assertion is incorrect, much of the criticism it drew focused only on the visible differences between Hitler and Communists, leaving their deeper ideological similarities unexamined. By...
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Elon Musk’s DOGE Sparks Chaos on Washington
In the first few weeks of President Trump’s second term, the Trump administration has unleashed a barrage of executive orders and other actions intended to dizzy his detractors. So far, he has been successful. However, his opposition has taken a unique interest in President Trump’s efforts to streamline government. President Trump has tasked Elon Musk and a team of tech gurus—under the Department of Government Efficiency (“DOGE”)—to perform...
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No, Federal Contractors Are Not More Efficient than Federal Employees
In late January, the Trump administration issued a series of executive orders that paused Treasury payments to a variety of federal contractors and grantees. These orders also often cancelled contracts with NGOS and other contractors altogether. Soon afterward, we began to see countless media stories about job losses at private NGOs and for-profit federal contractors. Many were so heavily reliant on revenue from taxpayer cash that they immediately...
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Constitutional Dictatorship?
When President Trump recently began calling the Ukrainian dictator a dictator elements of both Left and Right in the Washington establishment became quite indignant over it. After all, he is their poster boy for their beloved “foreign aid.” The Ukrainian constitution allows for the suspension of elections during wartime, shouted “The Grate One,” Mark Levin of FOX News. Levin then gave the Ukrainian dictator his full throated support since, after...
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Jesus, Mises, and Private Property
In one of his literary masterpieces, Socialism: An Economic and Sociological Analysis, Mises provided a chapter titled, “Christianity and Property,” in which he wrote the following statements regarding the teachings of Jesus,But all efforts to find support for the institution of private property generally, and for private ownership in the means of production in particular, in the teachings of Christ are quite vain. No art of interpretation can find...
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Trump Cannot Allow a Declining Europe to Drag the US Down
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...
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On Swiss National Bank
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SNB Sight Deposits: increased by 5.2 billion francs compared to the previous week
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SNB’s Chairman Schlegel: A few months of negative inflation wouldn’t be a problem
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2025-07-31 – Interim results of the Swiss National Bank as at 30 June 2025
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SNB Brings Back Zero Percent Interest Rates
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Hold-up sur l’eau potable (2/2) : la supercherie de « l’hydrogène vert ». Par Vincent Held
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