Many citizens want more government control of the economy to curb rising prices. It is the worst strategy imaginable. Interventionist governments never reduce consumer prices because they benefit from inflation, dissolving their political spending commitments in a constantly depreciated currency. Inflation is the perfect hidden tax. The government makes the currency less valuable by issuing more units of fiat money, partially dissolves its debt in...
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Category Archive: 6b.) Mises.org
Kamala Harris’s Price-Fixing Scheme Would Lead to Food Shortages
Kamala Harris has suggested that, if elected, her administration would “pass the first ever federal ban on price gouging on food.” She has also stated that she would undertake several interventions into the healthcare industry, including a promise to “cap the cost of insulin at $35 for all Americans.”These proposals represent nothing other than the promise to institute price-fixing on groceries and aspects of healthcare. To end so-called “price...
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What Was Mises’s Position on Fractional Reserve Banking?
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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Nagel on Libertarianism and Other Things
The philosopher Thomas Nagel can always be relied on for thought-provoking arguments, and in what follows, I’m going to discuss several that are relevant to libertarianism. These arguments are to be found in Nagel’s book Equality and Partiality (Oxford, 1991).Nagel takes for granted the existence of the state, but his arguments can be adapted to an anarcho-capitalist society as well, though that is not a task I’ll pursue here. In any decent...
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Nagel on Libertarianism and Other Things
The philosopher Thomas Nagel can always be relied on for thought-provoking arguments, and in what follows, I’m going to discuss several that are relevant to libertarianism. These arguments are to be found in Nagel’s book Equality and Partiality (Oxford, 1991).Nagel takes for granted the existence of the state, but his arguments can be adapted to an anarcho-capitalist society as well, though that is not a task I’ll pursue here. In any decent...
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Who Starts Business Cycles? Banks or the Fed?
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The Present Monetary System Is Heading for a Breakdown
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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Home Ownership Is Not the American Dream
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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Centralizing Federal Power through Southern Reconstruction
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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“I Have Bills to Pay,” Or Why the Fed Really Cut Interest Rates
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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Chinese Authorities to Stop Economic Cleansing
Austrian Business Cycle Theory tells us that recessions are an indication an economy is healing. Booms created by government printing presses and fiscal interventions will be cleansed by downward reset of asset prices and labor misappropriation will be righted by rising unemployment. Murray Rothbard wrote in America’s Great Depression, “The adjustment process consists in rapid liquidation of the wasteful investments. Some of these will be abandoned...
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Answering the Confused Critics of Austrian Economics
Richard Duncan recently appeared on the podcast Wealth Formula to discuss the Austrian school of economics. Despite being only 42 minutes long, the episode is packed full of errors and fallacies. What makes the discussion relevant for Austro-libertarians is not that these two non-Austrians know nothing about Austrian economics, but that their uninformed critiques are characteristic of the kind of simplistic descriptions of Austrian thought that we...
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Without the State, Who Would Confiscate the Generators?
So here we are again.I remember watching, nineteen years ago, as Hurricane Katrina devastated New Orleans and surrounding areas. I remember donating bags full of supplies to an organization that was collecting them in New York City and taking them to the stricken areas. I remember hearing about people who lived in those areas coming together, getting organized, and doing whatever they could to help each other – and I remember hearing about FEMA...
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Beware of War Hawks in “America First” Clothing
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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Is the Federal Reserve a Private Bank? It Doesn’t Matter.
After many years of writing articles on the Federal Reserve and central banking, there is one thing I can always expect in the hours following the publication of an article about the Fed: a reader will send me an indignant email insisting that the Federal Reserve is a private organization and that this is very important. Moreover, from the context of these messages it is apparent the authors believe that the alleged private nature of the Federal...
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A European Fannie/Freddie?
A bad ideaPublished in Housing Finance International Journal.The U.S. national housing finance market is uniquely dominated by two government mortgage companies, Fannie Mae and Freddie Mac. They do exactly the same thing, creating mortgage-backed securities that are de facto government-guaranteed. They are both completely dependent on the credit support of the U.S. Treasury, and thus dependent on American taxpayers. Both went broke in 2008, and...
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Kamala Harris and Her Socialism with 1930s-German Characteristics
Presidential candidate, Kamala Harris, responding to accusations that she is a Marxist and has been concealing much of her economic agenda from the public, gave a speech at the Economic Club of Pittsburgh on September 25 attempting to reassure voters that her earlier proposals for price controls, debt cancellations, and consumer subsidies, as well as her new proposals are not a Bolshevik assault on capitalism, but are intended to create an...
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Americans Don’t Owe Eastern Europe Anything
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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All States Are Empires of Economic Lies
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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Mises on Democracy: A Critique
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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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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