Category Archive: 6b.) Mises.org

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The Income Tax: Lessons from the Sixteenth Amendment

2023-05-08

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2023-05-08

The passage of an income tax in the early twentieth century was an enormous shift toward a far more centralized and powerful US state. Original Article: "The Income Tax: Lessons from the Sixteenth Amendment"

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Was Japanese Colonialism the Engine of Later Prosperity for Korea and Taiwan? Probably Not

2023-05-08

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2023-05-08

Mainstream historians attribute the postwar economic success of South Korea and Taiwan to the legacy of Japanese colonialism. The Japanese are credited with providing new technologies, critical infrastructure, and an efficient state that enabled industrial progress in South Korea and Taiwan. Both Taiwan and Korea benefitted from the successful adoption of Japanese technologies and recorded industrial growth under imperial rule. Moreover, during...

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Disinformation and the State: The Aptly Named RESTRICT Act

2023-05-07

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2023-05-07

Federal laws with acronyms are usually bad news. (Think the USA PATRIOT Act.) The RESTRICT Act is yet another Orwellian proposal in which the federal government assumes ignorance is strength. Original Article: "Disinformation and the State: The Aptly Named RESTRICT Act"

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Lincoln’s Main Target Was “Anarchy” and Secession, Not Slavery

2023-05-06

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2023-05-06

Once the Southern states accepted the Thirteenth Amendment, Lincoln was entirely content for the old Southern elites to resume their positions of power and for many blacks to continue in a condition little better than bondage. Original Article: "Lincoln's Main Target Was "Anarchy" and Secession, Not Slavery"

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A Pyrrhic End to 130 Years of Vicious Bad Money and Banking Crises

2023-05-06

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2023-05-06

The current banking crises have deep roots in US financial history. Monetary authorities have engaged in inflationary behavior for more than a hundred years. Original Article: "A Pyrrhic End to 130 Years of Vicious Bad Money and Banking Crises"

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Bank Reserves

2023-05-06

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2023-05-06

Bank reserves are seldom mentioned except in cases of bank runs. The other possible mention is all the interest money the Fed pays to banks simply for holding reserves. Mark explains the role of bank reserves in the current "system" and gives a brief explanation of why the Austrian view is better and actually gets the job done. Be sure to follow Minor Issues at Mises.org/MinorIssues.

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The Progressive Era and the Family

2023-05-06

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2023-05-06

[Originally from Joseph R. Peden and Fred R. Glahe, eds., The American Family and the State (San Francisco: Pacific Research Institute, 1986).] While the "Progressive Era" used to be narrowly designated as the period 1900–1914, historians now realize that the period is really much broader, stretching from the latter decades of the nineteenth century into the early 1920s. The broader period marks an era in which the entire American...

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Argentina Sleepwalks into Hyperinflation (Yet Again)

2023-05-06

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2023-05-06

The Argentine peso has lost half its value in one year. Both the official and parallel exchange rates with the US dollar and the Mexican peso have doubled in one year. Consumer prices have doubled in one year. The quantity of Argentine pesos has doubled in one year. All the rates at which these variables are increasing have also doubled in one year. Expecting everything to double again in half a year is now a conservative projection. Argentina was...

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A Credit Crunch Is Inevitable

2023-05-06

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2023-05-06

Federal Reserve data shows $98 billion of deposits left the banking system in the week after the Silicon Valley Bank collapse. Most of the money went to money-market funds, as the Bloomberg data shows that assets in this class rose by $121 billion in the same period. The data shows the challenges of the banking system in the middle of a confidence crisis. However, as many analysts point out, this is not necessarily the main factor that dictates the...

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Washington Has No Moral Authority to Ban Guns

2023-05-05

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2023-05-05

After the hate crime against Christians perpetrated by a transgender shooter in Nashville in March 2023, there was the usual outcry to ban firearms. Days after the killing spree, activists staged an insurrection at the Tennessee State Capitol calling for tougher gun laws. This despite the fact that many in favor of gun control politicized the violence and called for more of it. However, the most jarring of all the gun-ban reactions to the Nashville...

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The Economics of Arts and Culture

2023-05-05

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2023-05-05

Both artists and athletes perform for others. When governments get involved it either is for subsidies or censorship. Neither is satisfactory. Original Article: "The Economics of Arts and Culture"

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Can Supercomputers Make Socialism Work?

2023-05-05

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2023-05-05

Jonathan Newman joins Bob to critique a recent Twitter argument where some were claiming that supercomputers solved the socialist calculation problem. The Twitter thread on AI and Socialism: Mises.org/HAP394a Bob on Socialism and calculation vs knowledge: Mises.org/HAP394b Karras Lambert and Tate Fegley on economic calculation and AI: Mises.org/HAP394c [embedded content]

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Is Social Justice Just? A Review

2023-05-05

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2023-05-05

Is Social Justice Just?Edited by Robert M. Whaples, Michael C. Munger, and Christopher J. CoyneIndependent Institute, 2023; xxiii + 348 pp. Before one can answer the question posed by this excellent book’s title, one needs to ask what social justice is, and answering this proves to be no easy task. As Robert Whaples says, “For many, the term social justice is baffling and useless, with no real meaning. Most who use it argue that social justice is...

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Austrian Economists and Empiricism

2023-05-05

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2023-05-05

Austrian economics is defined by its adherence to the a priori methodology, not empiricism. That places it at odds with mainstream economics, which stresses the methodology of positivism. Original Article: "Austrian Economists and Empiricism"

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Shedding Light on the Law of Unintended Consequences

2023-05-05

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2023-05-05

The US Department of Energy has recently announced two new rules banning the manufacture of incandescent light bulbs starting in July 2022 and phasing in standards across industries over the following months. The Biden administration claims that this ban is a cost-saving measure that will “save consumers about $3 billion annually when fully implemented.” However, the net impact of this policy is unclear since the substitution of incandescents for...

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The Dominion Lawsuit Against Fox News Is Part of the War against Free Speech

2023-05-04

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2023-05-04

In March 2021, Dominion Voting Systems—a company that produces electronic voting equipment and software—sued Fox New Channel for 1.6 billion. Dominion claimed the company had been harmed by allegedly false claims made by Fox program hosts and guests about Dominion's role in alleged efforts to rig the 2020 US presidential election.  In April 2023, Fox New Channel settled with Dominion for $787.6 million. Dominion still has other lawsuits pending...

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From Rothbard to Tucker: Regime Conservatives Purge Dissent

2023-05-04

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2023-05-04

In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the cancellation of Tucker Carlson's Fox News show and the similar treatment of Murray Rothbard by Bill Buckley. What does Tucker's cancelation mean for the growing anti-regime trends on the right, and why do "conservative" gatekeepers prefer the company of the left more than their audience? We look at this and more on this episode of Radio Rothbard. [embedded...

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The Failure of the Federal Reserve: The Covid Boom and Unnecessary Intervention

2023-05-04

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2023-05-04

After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat. Original Article: "The Failure of the Federal Reserve: The Covid Boom and Unnecessary Intervention"

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Will a New BRICS Currency Change Anything? Maybe

2023-05-04

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2023-05-04

Money first originated through the voluntary exchange of commodities, such as gold and silver, in order to eliminate the inefficiencies of barter. As Austrian school of economics founder Carl Menger explained: Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic...

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You Don’t Like It? Leave! The Telling Sophistry of Tax Apologists

2023-05-04

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2023-05-04

What better way to “celebrate” tax season than to talk taxes? Stop me if you’ve heard this one: Taxation is not theft. It’s just the law of the land. You want to live in this country, you pay the long-established, constitutional, customary tax. If you’re not okay with that, there are plenty of other countries to choose from whose customs and edicts you may find more agreeable. Just go live there, and best of luck to you! So as long as you have that...

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