While this page has covered rail boondoggles in California and elsewhere, we also look at Seattle, which looked at building a monorail system, but then later wisely back off, saving the city‘s taxpayers hundreds of millions of dollars of future taxes.
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Category Archive: 6b.) Mises.org
1995: When I Testified Before the Train Wreck Known as Congress
Elon Musk has found out the hard way that one can ferret out hundreds of billions of dollars that Congress wastes, but fail in getting its members to stop wasteful spending. Jim Bovard learned that hard lesson 30 years ago.
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What Is the Optimal Growth Rate for the Money Supply?
The mainstream economic belief is that a growing economy needs a growing money supply to ensure “price stability.” Austrian economists, however, believe that there is no “optimum” money supply, which means government should not engage in monetary expansion.
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What the World Needs Now from Pope Leo XIV
The pope must defend the family from the state‘s attacks while promoting peace and asserting independence from state power.
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The History of Freedom in Christianity
“The only influence capable of resisting the feudal hierarchy was the ecclesiastical hierarchy; and they came into collision, when the process of feudalism threatened the independence of the Church...”
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The Language of ChatGPT
While artificial intelligence is often discussed in terms of automation or productivity, its potential as a creative and intellectual partner is just beginning to be recognized.
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The Southern Cause: What Led to Secession
The simple narrative today of the southern secession in 1860 and 1861 is that the southern states believed that the institution of slavery was being threatened, so they left the union. However, the real causes are more complex and do not fit any preconceived narrative.
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“Our Marx”: The Great Herbert Spencer
Herbert Spencer is best known for the term, “Social Darwinism,” but his writings on free markets and law remain brilliantly relevant today. While not included in the Pantheon of Austrian economists, nonetheless his work influenced Austrian scholars.
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Impressed at Vicksburg
Mark Thornton discusses a lesser-known factor in the American Civil War: the Confederate “impressment” policy and its impact at Vicksburg.
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The Tobacco Standard in Colonial America
MMT and chartalism claims that money is a creature of the state and is valued because of state action. The fact that tobacco acted as colonial money independently of the state demonstrates this to be false.
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Comrade Aristotle?
In today‘s Friday Philosophy, Dr. David Gordon looks back upon the ethical views of the late Alasdair MacIntyre. While praising MacIntyre‘s work, Dr. Gordon points out that he never abandoned his Marxist views of economics, making much of his philosophical thinking crucially deficient.
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DOGE Disappointment, Keynesian Degeneracy, and Cutting Off Harvard
On Power & Market, the group looks at the political legacy of Elon Musk, the moral costs of Keynesianism, and the absurdity of Harvard and NPR as public goods.
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The Crucial Principle and Data At Stake in the SoHo Immigration Debate
Bob breaks down the recent Soho Forum immigration debate between Dave Smith and Alex Nowrasteh, clarifying the critical libertarian questions around property rights, open borders, and government authority.
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The Economics of Obamacare—Next Round
Enrollment in government-subsidized “Obamacare” health insurance programs is expanding—and that is not a good thing. As more people place demands on the medical system, that system is increasingly unable to handle the growing demand.
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Did the Fed Achieve Independence During the Korean War?
Rumor has it that the Federal Reserve was able to resist the president‘s demands to enable funding of the Korean War. However, a look at the record demonstrates conclusively that the Fed bowed to Harry Truman‘s wishes to do what it has done for a century: finance America‘s wars.
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The One Bloated Brobdingnagian Bill
President Trump's so-called “One Big, Beautiful Bill” is more of the same: big and bloated. It adds billions to the federal deficit and does nothing to deal with the government‘s ruinous debt. Naturally, the Republicans support it.
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The Immorality of Keynesian Economics
Keynesian “economics” is not just wrong; its precepts are not just based upon fallacies but also on lies. Since Keynes self-described as an “immoralist,” we shouldn‘t be surprised that his economics is immoral, too.
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Ludwig von Mises on Peace and Social Cooperation
The free market replaces the struggle for survival found in the animal world with social cooperation in which everybody benefits. Capitalism is a system of peace, not war.
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The “Magic Coin” and Renewing Interest in Monetary Policy
David Brady, Jr. reviews Jonathan Newman's latest children‘s book that explains money in a way that even modern adults can understand.
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The “Magic Coin” and Renewing Interest in Monetary Policy
David Brady, Jr. reviews The Magic Coin by Dr. Jonathan Newman, a children‘s book that explains money in a way that even modern adults can understand.
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On Swiss National Bank
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Heads up for NZD and CHF traders, RBNZ Gov Breman and SNB Chair Schlegel to speak
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Swiss franc appreciation has led to tighter monetary conditions – SNB minutes
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SNB Sight Deposits: decreased by 3.1 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
Main SNB Background Info
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