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Category Archive: 6b.) Mises.org

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Government Banks Would Be a Dangerous Tool for Progressive Ideologues

2024-01-23

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2024-01-23

Last month, Democratic Congresswomen Rashida Tlaib and Alexandria Ocasio-Cortez proposed a bill that would allow the incorporation of financial institutions controlled by states and municipalities. These banks would be not-for-profit, tightly regulated, and given special government subsidies. The Congresswomen claim that public banks are necessary because the private sector has been “rigged” against “those grappling with the costs of simply trying...

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Rethinking Keynesian Theory: Debunking Interest Rates and Inflation Myths

2024-01-23

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2024-01-23

In the realm of macroeconomics, a legion of PhD economists in central banks passionately contends that interest rates are a pivotal policy tool for managing the economy. Simultaneously, these economists firmly uphold that the Consumer Price Index (CPI) is an accurate gauge for measuring inflation—a widespread acceptance of this CPI as a valuable metric. The current theoretical state of macroeconomics should be classified as negative knowledge, akin...

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Bye Bye Willie: The Political Rent-Seeker

2024-01-22

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2024-01-22

On January 1, 2024, the famous Steamboat Willie entered the public domain. The intellectual property that is the original Mickey Mouse design has been controlled by the Walt Disney Company since 1928. The internet blew up in excitement as a result. Within minutes of the world waking up to the news, horror games were announced based on the design of the famous mouse. The editors of Wikipedia were practically Olympic racers, waiting for the moment it...

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Social Media Should Not Be Blamed for the Consequences of Democracy

2024-01-22

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2024-01-22

So-called social media is frequently maligned for the nastiness it brings, with focus often set on the personal attacks and trolling that tend to haunt potentially reasonable discussions. X (formerly Twitter) is supposedly the worst, on which people engage in endless mudslinging and bullying. However, the other platforms are not better. The common explanation for the degenerative nature of social media discourse is that the platforms are developed...

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Can an Easy Money Policy Increase Employment of “Idle Resources”?

2024-01-22

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2024-01-22

When an economy suffers a recession, some factors of production, such as labor, become unemployed. Keynesians believe that expanding credit and fiat money will bring back full employment. That's not how an economy works. Original Article: Can an Easy Money Policy Increase Employment of "Idle Resources"?

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Yemen: The Forgotten Neoconservative-Supported War in the Middle East

2024-01-21

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2024-01-21

While Western attention is on the Israel-Hamas conflict, war quietly rages in Yemen with predictable destruction. Not surprisingly, US interventionism is fueling this fight. Original Article: Yemen: The Forgotten Neoconservative-Supported War in the Middle East

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The Establishment Is Unmasking Itself

2024-01-21

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2024-01-21

American political and economic elites insist that they should have authority over everyone else. As people rebel, the elites are only doubling down on their original demands. Original Article: The Establishment Is Unmasking Itself

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“Humanitarianism” as an Excuse for Colonialism and Imperialism

2024-01-21

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2024-01-21

Spreading civilization and human rights has long been used as an excuse for state-building through colonialism and imperialism. This idea dates back at least to early Spanish and colonial efforts in the New World, and the rationale was initially employed as just one of many.  The importance of the conquest-spreads-civilization claim increased, however, as liberalism gained ground in Europe in the nineteenth century. Liberals were more skeptical of...

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What Is Inflation for 2024?

2024-01-20

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2024-01-20

In this week's episode, Mark compares two definitions of inflation and what this means for policy-makers and the productive population in 2024. The mainstream view creates nothing but confusion and smokescreens, while the Austrian definition shows that the true definition shows a much higher level of economic pain and uncertainty and more economic problems to come in 2024. Be sure to follow Minor Issues at Mises.org/MinorIssues. Get your...

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Government Employee Pensions Are Underfunded. Taxpayers Will Make Up the Difference

2024-01-20

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2024-01-20

People aren’t messing with their 401(k)s enough, according to the The Wall Street Journal. It used to be “Set it and forget it.” Now, according to the Wall Street Journal’s Jon Sindreu, if you forget it, you might miss it. Inspired by a BlackRock thought experiment which included perfect knowledge, Sindreu looked backward between 2020 and the present at a person making yearly changes (moving funds to the previous year’s strongest sector) which...

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Bastiat versus MMT

2024-01-20

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2024-01-20

Proponents of modern monetary theory (MMT) are back in action after a quiet spell during the embarrassing (for them) record price inflation of 2021–23. They are here to tell us that the mountain of government spending and debt is nothing to worry about; the government’s red ink is the private sector’s black ink, they say. Private sector growth emanates from public sector deficits, and since the US government has a gigantic money printer, there’s no...

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Does Government Spending and Money Expansion Create New Wealth or Destroy It?

2024-01-19

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2024-01-19

Many economists claim that economic growth is driven by increases in the total demand for goods and services, additionally claiming that overall output increases by a multiple of the increase in expenditures by government, consumers, and businesses. Thus, it is not surprising that most economic commentators believe that a fiscal and monetary stimulus will strengthen total demand, preventing the US economy from falling into a recession. These...

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Are Capital Gains Income? The Connection with Mises’s Calculation Problem

2024-01-19

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2024-01-19

Bob goes solo to discuss a recent Twitter controversy, in which opponents of a proposed tax argued that unrealized capital gains couldn't possibly be a form of income. Bob cites both Austrian theory and corporate accounting practice to respond that all capital gains are income, which is not to say that they ought to be taxed. The dispute is important because understanding the definition of "income" sheds light on the role of market prices...

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Jacobin Capitalism?

2024-01-19

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2024-01-19

In his important book The Failure of American Conservatism (2023), the political theorist and philosopher Claes G. Ryn offers some criticisms of libertarianism and free-market capitalism, and in this week’s column, I’d like to examine these. Ryn is not an opponent of all forms of the free market, but he fears an extreme version of it can be dangerous. He defends what he calls “value-centered historicism,” according to which people’s values stem not...

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Rising Interest Rates and the “Great Reset” Bubble

2024-01-19

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2024-01-19

Even though many deny it, the “Great Reset” exists, referring to a set of ideas that range from “stakeholder capitalism” to “wokeness” and “fourth industrial revolution” to “transhumanism.” It is effectively popularized especially through the World Economic Forum. The fight against viruses and epidemics and particularly the politically driven move away from fossil fuels to “save the global climate” are probably the most visible footprints of the...

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How to Free Ourselves from Government Money (Part III)

2024-01-18

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2024-01-18

To save our economy from destruction and from the eventual holocaust of runaway inflation, we the people must take the money-supply function back from the government. Money is far too important to be left in the hands of bankers and of Establishment economists and financiers. To accomplish this goal, money must be returned to the market economy, with all monetary functions performed within the structure of the rights of private property and of the...

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History vs Economics: Explaining the Causes of the Great Depression

2024-01-18

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2024-01-18

While economics textbooks are weak on causes of the Great Depression, American history texts are even worse. It's time for some truth telling. Original Article: History vs Economics: Explaining the Causes of the Great Depression

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Resurrecting the Failed Policy of Rent Control

2024-01-18

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2024-01-18

When it comes to housing, the solution to the problem of affordability is rather straightforward: build more. Slapping price controls on housing in the form of “rent control” only makes things worse. Original Article: Resurrecting the Failed Policy of Rent Control

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The Anti-Semitism Controversy on College Campuses Is the Direct Result of Identity Politics

2024-01-18

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2024-01-18

The recent campus protests following the Hamas-Israel conflict have been framed as either antiapartheid or anti-Semitic. The conflict is much deeper, being rooted in toxic identity politics. Original Article: The Anti-Semitism Controversy on College Campuses Is the Direct Result of Identity Politics

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Why Argentina Needs Free Cities

2024-01-18

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2024-01-18

For most of the past century, Argentina has seen the destruction wrought by collectivism. To reverse the damage, the nation must allow decentralization, beginning with free cities. Original Article: Why Argentina Needs Free Cities

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