Category Archive: 6b.) Mises.org

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Crash Landing

2023-08-19

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2023-08-19

Will we get a soft landing or a hard landing in the economy? Or, should we hope for a crash landing? Mark Thornton explains. See also "Soft Landing? Not Likely" featuring Bob Murphy and Jonathan Newman on the Human Action Podcast: Mises.org/HAP407 Be sure to follow Minor Issues at Mises.org/MinorIssues.

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No, Small Countries Are Not at an Economic Disadvantage

2023-08-19

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2023-08-19

Some analysts contend that size can be a deterrent to economic prosperity, so as a result, small states are particularly vulnerable to economic and environmental shocks. Usually, small states are discussed in light of their limitations and challenges. Even leaders of small countries earnestly paint size as an obstacle to future progress. The idea that smallness is an impediment to be overcome has become gospel in some quarters. Caribbean leaders...

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Dollar Hegemony Is Ending Due to Geopolitical Changes

2023-08-19

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2023-08-19

Since the Bretton Woods Agreement in 1944, the dollar has been the world’s preferred reserve currency—the major trading nations of the world were willing to hold dollars in vast amounts to satisfy their need for a readily accepted worldwide payment medium. Even when, in 1971, the United States violated its solemn promise to redeem its dollars for gold at thirty-five dollars per ounce, nations were still willing to hold dollars. Germany Shies Away...

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The State Protects Itself While Crime against Ordinary People Surges

2023-08-19

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2023-08-19

In all the media and regime frenzy over the Janaury 6 riots and the Pentagon Leaker in recent months, it is interesting to examine the contrast between how the regime treats "crimes" against its own interests, and real crime committed against ordinary private citizens.  Witness, for example, how the Biden administration and corporate media have treated the January 6 riot as if it were some kind of military coup, demanding that draconian...

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They Didn’t Listen: The Reality of Hayek’s Bestseller

2023-08-18

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2023-08-18

In 1944, F.A. Hayek's best-selling book, The Road to Serfdom, warned the West that the "free" nations would lose their freedom as government expanded. He was right. Original Article: "They Didn't Listen: The Reality of Hayek’s Bestseller"

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Beyond Crisis: The Ratchet Effect and the Erosion of Liberty

2023-08-18

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2023-08-18

The Constitution “is not a suicide pact,” said Justice Arthur Goldberg in the court’s opinion in the 1963 Supreme Court case of Kennedy v. Mendoza-Martinez. His statement highlights a fundamental truth: in times of crisis, governments often feel compelled to take extraordinary measures to protect their citizens and maintain order. However, this desire to act swiftly and decisively can lead down a perilous path where the expansion of government...

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A Recession Coming in 2023? With Dr. Murray Sabrin

2023-08-18

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2023-08-18

On this episode of Good Money with Tho Bishop, Dr. Murray Sabrin joins the show. Dr. Sabrin shares his story of how he became an Austrian economist and discusses his analysis predicting a recession later in the year. Tho and Dr. Sabrin also talk about this week's anniversary of Nixon closing the gold window. Join Dr. Sabrin in November for a Mises Circle in Ft. Meyers, FL on The White House, the Fed, and the Economy. Use promo code Tampa23 for $10...

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Saving Marxism from the Labor Theory of Value: It Is Still Bad Theory

2023-08-18

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2023-08-18

Capitalism—Its Nature and Its Replacement: Buddhist and Marxist Insightsby Graham PriestRoutledge, 2021; 312 pp. The title of this book seems at first sight puzzling: what has Buddhism to do with Marxism? When we learn that the author accepts Karl Marx’s analysis of capitalism and also wishes to replace capitalism with a type of socialism, we might be tempted to toss the book aside. It would be a mistake to do so. The author is a distinguished...

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Is the Fed Responsible for the Recent Surge and Fall in Price Inflation?

2023-08-18

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2023-08-18

Jonathan Newman joins Bob to discuss the argument being put forth by Alan Blinder, James Galbraith, and other progressive economists, who claim that the Federal Reserve's rate hikes couldn't possibly be responsible for the quelling of consumer price inflation. Jonathan and Bob stress the important role of expectations as a "transmission mechanism" from Fed policy to impacts on prices. Galbraith's Article on the Fed's 'Soft Landing':...

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A Higher Minimum Wage Won’t Improve Life in Pennsylvania

2023-08-18

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2023-08-18

Forcing the minimum wage above the real market wage causes more unemployment. Small businesses suffer from these mandates as do the least productive workers.  Original Article: "A Higher Minimum Wage Won't Improve Life in Pennsylvania"

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What Mises Really Thought about Fascism

2023-08-18

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2023-08-18

It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization. The merit that Fascism has thereby won for itself will live on eternally in history. —Ludwig von Mises, Liberalism: In the Classical Tradition Mises controversially stated this quote in his book Liberalism: In the Classical Tradition. This...

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Monetary Inflation Won’t Create Economic Growth

2023-08-18

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2023-08-18

When it comes to matters of money and banking, all practical political issues ultimately hinge on one central question: can one improve or deteriorate the state of an economy by increasing or decreasing the quantity of money?1 Aristotle said that money was no part of the wealth of a nation because it was simply a medium of exchange in inter-regional trade, and the authority of his opinion thoroughly marked medieval thought on money. Scholastic...

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The American Revolutionaries Didn’t Need a Central Government. Neither Do We.

2023-08-17

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2023-08-17

Rothbard on the American Revolution: "There was no particular need for the formal trappings and permanent investing of a centralized government, even for victory in war." Original Article: "The American Revolutionaries Didn't Need a Central Government. Neither Do We."

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Regulation in the Free Market: It’s Not What Most People Believe

2023-08-17

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2023-08-17

When the idea of a totally free market is floated in economic discussion, a widely accepted critique of such an idea is often related to the issue of how goods and services could be guaranteed safe for consumption. After all, without a government sending inspectors and decreeing standards of safety for products, it is often assumed companies, in their everlasting quest for profits without mercy, would have no incentive against selling whatever...

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Is Javier Milei Argentina’s Ron Paul Moment?

2023-08-17

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2023-08-17

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Mises Summer Fellow Manuel Garcia Gojon to discuss the recent strong performance by Argentinian libertarian presidential candidate Javier Milei. The three discuss the economic conditions of Argentina fueling the self-proclaimed anarcho-capitalist's political rise, what separates him from other populist figures, and some of his proposed policies - such as abolishing the...

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FedNow Isn’t a CBDC, but It Is Dangerous

2023-08-17

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2023-08-17

While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse. Original Article: "FedNow Isn't a CBDC, but It Is Dangerous"

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China Enters the Doom Loop

2023-08-17

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2023-08-17

China's authoritarian gerontocracy has built a Doom Loop with Chinese characteristics, with over half the economy now crashing. Chinese exports are now plunging at the fastest pace since the covid lockdowns: Exports fell 14.5% on the year, driven by a 21% drop in exports to Europe and a 23% drop to the US. Meanwhile, imports to China are also falling -- 12.4% on the year -- as shrinking manufacturing buys fewer inputs and households buy less. In...

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Is the Monopoly Board Game Like Real Markets?

2023-08-17

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2023-08-17

It feels like a silly thing to say, but board games are not real life. Playing a few rounds of Operation does not make you a surgeon. Unlike in Battleship, real-world battleships do not sit still on a ten-by-ten grid. Similarly, Monopoly does not correlate to “free-market capitalism,” despite anticapitalist claims like this tweet with over a million views: There’s literally a children’s board game that demonstrates that “free-market capitalism”...

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Can Fractional Reserve Banking Survive the Twenty-First Century?

2023-08-16

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2023-08-16

Banker and financial expert Caitlin Long believes that fractional reserve banking is closer than ever to collapse, and she has a 100 percent reserve banking solution in progress. Original Article: "Can Fractional Reserve Banking Survive the Twenty-First Century?"

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Inflation Is a Giant “Skim” on the American People

2023-08-16

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2023-08-16

The price of a McDonald’s hamburger in the United States has inflated 3.75 percent annually over the last seventy years. McDonald’s has grown from a tiny hamburger stand in Des Plaines, Illinois, to the second largest fast-food chain on earth. Scale economies alone (never mind process and productivity improvements) should’ve allowed the price of a burger to decline materially over this period. Why didn’t it? What forces and institutions have...

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