In Paul Krugman’s latest column, he claims that Kamala Harris hasn’t advocated for price controls, only a ban on price gouging on groceries. Of course, these are the same thing. Krugman’s own principles text defines price controls as “legal restrictions on how high or low a market price may go.” A ban on price gouging is a legal restriction on how high a market price may go. Therefore, even Krugman-the-textbook-author admits that a ban on price...
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Category Archive: 6b.) Mises.org
Donald Trump Does Not Know the “Correct” Interest Rate
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The Bankruptcy Parade Continues: U.S. Cities and Towns
The American 21st century bankruptcy show continues with cities, counties, and local special purpose districts (SPD’s) (local entities) for fire protection, hospitals, libraries, water districts, etc. One common bankruptcy theme was that when a project began and a bond-covenant issued, revenue from the project did not meet predictions, bond payments were not timely, the local entity could not renegotiate the bond payments with the lender(s), and so...
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Do We Need 3% Inflation? Economic Growth and Deflation
“As long as it is kept within certain limits, inflation is an excellent psychological support of an economic policy which lives on the consumption of capital.” (Ludwig von Mises, Socialism, pp. 448-9)What causes economic growth? Is it a reduction in tariffs? Is it a cut in tax rates? Is it cutting red tape and bureaucracy? While each might stimulate or encourage economic growth, none of these choices causes growth. Economic growth is the result of...
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What Might Have Been: Cantillon vs Smith
A review of: A Tale of Four Cities: From the Invisible Hand to Cancel Cultureby Phil DuffyHello, and welcome to another episode of the Minor Issues Podcast. I’m Mark Thornton at the Mises Institute.I am the book review editor of the Quarterly Journal of Austrian Economics. The QJAE is the academic economic journal published by the Mises Institute. Some listeners may wonder why I have never reviewed a book on this podcast, even though I very often...
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Hayekian liberty and the predatory state
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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Kamala’s press chief tried to censor me
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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Protecting infant industries doesn’t help the economy
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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The U.S. military machine is unsustainable
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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The Chevron decision may also apply to federal land policies in the West
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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The rule of law and property rights
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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China’s competitiveness is driven by low taxation, not by industrial policy
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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The Fed Is Warping the Shape of the Yield Curve
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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Keir Starmer’s Crackdown on Dissent
It’s not unfair to say that the current unrest and rioting in the UK has been accompanied by a lot of inaccurate information. As with any event, everyone should be aware that it becomes a lot easier to spread false information and have people believe it. Tensions are boiling over and emotions are running amok, and it does not take a genius to understand why you should be more wary of misinformation when emotion is in the driver’s...
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The Folly of Legislating against Unfairness
In A Cure Worse Than The Disease: Fighting Discrimination Through Government Control, M. Lester O’Shea criticizes the notion that we should legislate against unfairness. He poses the question as follows: “No one defends unfairness. So shouldn’t it be against the law?” In posing the question that way, his point is that the mere fact that we regard something as unfair – or even morally wrong – does not mean we ought to legislate against it. This...
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Fall 2024 Mises Book Club (Auburn)
Dr. Jonathan Newman and Connor O’Keeffe will host an in-person book club on Murray Rothbard’s The Betrayal of the American Right for Auburn University students. The meetings will be held weekly on Tuesday evenings at the Mises Institute (518 W. Magnolia Ave.), starting September 17th. In The Betrayal of the American Right, Rothbard recounts the history of the laissez-faire, non-interventionist Old Right and how it came into conflict with other...
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Inverted, Recessed, and Hung Out to Dry
Hello, and welcome to another episode of the Minor Issues podcast. I am Mark Thornton at the Mises Institute.The great reckoning seems to be following the course that I have been charting by guesswork. In other words, the great trainwreck seems to be happening. Let’s see what we are experiencing so far.Interest rates appear to be headed out of their long inversion. My anticipation was that the economy would not enter recession when interest rates...
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The Primitive Superstition of our Age
The mid 2000s saw a new intellectual movement emerge on the scene under the name of “New Atheism.” Representatives of the movement saw themselves as champions of the scientific method, of evidence-based reasoned analysis of the facts against the mystical, primitive superstitions of organized religion and all the societal, political and cultural harm it allegedly produces. While they were going on about their business, an intellectual movement that...
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The Political Takeover of the Texas Electricity Market
In June, the Texas Supreme Court rejected a lawsuit claiming that the Public Utility Commission of Texas (PUCT) had broken the law when it set the wholesale price of electricity at $9,000 per megawatt hour for about 80 hours during the Texas blackouts that occurred during Winter Storm Uri in February 2021.The PUCT’s commissioners had dictated the price of electricity because they believed that market-driven “energy prices across the system…as low...
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Markets Need a Lot More than a Rate Cut
The recent market weakness suggests a combination of profit-taking and concerns about the latest United States jobs and manufacturing figures, added to the abrupt unwinding of part of the yen carry trade. Valuations had soared and market participants now demand central bank easing. However, rate cuts may not be enough to send markets to new all-time highs. Money supply growth and quantitative easing are needed to maintain these valuations.Investors...
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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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