Category Archive: 6b.) Mises.org

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The Keynesian Multiplier Fairy Tale

2024-10-07

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2024-10-07

Many incorrectly assume that the overall economy’s output increases by a multiple of the increase in expenditure by government, consumers, and businesses. For instance, if out of an additional dollar received individuals spend $0.90 and save $0.10, then if consumers spending were to increase by $100 million, it is held that the overall output in the economy is going to increase by the tenfold of the increase in consumers’ expenditure (i.e. by $1...

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Can the Federal Reserve Buy Gold? Should It?

2024-10-07

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2024-10-07

Since the sixth century BC reign of Croesus of Lydia, refined gold has served as a monetary store of value. Today, many central banks, including the European Central Bank, the Swiss National Bank, the German Bundesbank, the Bank of France, the Bank of Italy, the Dutch National Bank, the Bank of Japan, the Reserve Bank of India, the People’s Bank of China, and the Monetary Authority of Singapore among others, hold gold as an investment and reserve...

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The Fed Rate Cut Isn’t the Housing Market’s Dream After All

2024-10-07

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2024-10-07

The rate cut by the Fed in September 2024 appears to be not much more than another performative song and dance. With many people, particularly in the real estate world, holding on to the idea that the rate cuts will stimulate buyers, the reality is not much will change, except for the worse.One can call the rate cut nothing more than a mere utterance from the Fed because it gives a message of assurance to the market and the public that it is doing...

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Economic Calculation and the Entrepreneur

2024-10-07

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2024-10-07

While most mainstream economists focus on the analysis of equilibria, Austrian economists examine the phenomena that are crucial in real-world markets operating in disequilibrium. Two of the most central aspects are economic calculation and entrepreneurship. In this regard, the Austrian school of economics offers profound insights into both the dynamics and the stability of capitalist societies.One of Ludwig von Mises’s most significant...

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This Is a Slow-Motion Nationalization of the Economy

2024-10-05

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2024-10-05

Global liquidity is expanding. In the past three months, the global money supply has soared by $4.7 trillion. This rapid increase started when the Federal Reserve panicked the first time and delayed the normalization of the balance sheet in June.Since then, we have seen a chain of fresh stimulus policies implemented by developed economies, adding to the large fiscal packages already in place. Multi-trillion-dollar investment packages like the EU...

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Mises’s Framework Still Sets the Standard

2024-10-05

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2024-10-05

As we wade through the intricacies of modern society, it becomes all the more imperative to go back to the works of Ludwig von Mises. Mises remains not only relevant but vital, providing a framework to view the modern world. Throughout his life, Mises set the standard with his insights into human action, economics, and politics. In an era characterized by government overreach, monetary manipulation, and degradation of individual freedoms, it is...

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New Title IX: 37 Words in 1972; Now Over 400 Scary Pages Long

2024-10-05

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2024-10-05

A flare-up in the culture war has become an election issue and an August 16 ruling by the US Supreme Court (SCOTUS) guarantees it will not go away.Title IX is a federal civil rights law protecting those who attend a school that receives federal funds against discrimination on the basis of sex. The intention of this 1972 law was to protect women against bias. Many changes to Title IX have occurred since then. On April 19 of this year, the Department...

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The Old Right Opposed Tariffs

2024-10-05

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2024-10-05

The Old Right was a principled band of intellectuals and activists, many of them libertarians, who fought the “industrial regimentation” of the New Deal, and were the first to note that, in America, statism and corporatism are inseparable. Despite some current claims, however, these writers ardently defended capitalism, including big business and corporations, celebrated the profit motive, and took a strict laissez-faire attitude towards...

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Your Kids Are Already Communists, and College Will Make It Worse

2024-10-05

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2024-10-05

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 Presumption of Liberty

2024-10-05

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2024-10-05

The presumption of liberty is an established liberal tradition according to which any restrictions on individual liberty require justification. Gerald Gaus and Shaun Nichols depict this as a principle of “natural liberty,” a “general presumption in favor of freedom of action.” As they explain, if natural liberty is a general presumption we expect, it to be reflected in,…shared normative expectations about what one may or may not do, and what one...

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Title IX Was 37 Words in 1972. It’s Now 400 Pages.

2024-10-05

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2024-10-05

A flare-up in the culture war has become an election issue and an August 16 ruling by the US Supreme Court (SCOTUS) guarantees it will not go away.Title IX is a federal civil rights law protecting those who attend a school that receives federal funds against discrimination on the basis of sex. The intention of this 1972 law was to protect women against bias. Many changes to Title IX have occurred since then. On April 19 of this year, the Department...

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Cronyism and Historical Revisionism

2024-10-04

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2024-10-04

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’s Two-Percent Inflation Target Is Meaningless

2024-10-04

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2024-10-04

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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Can America Survive Global De-Dollarization?

2024-10-04

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2024-10-04

“Money does not grow on trees” is an old expression of wisdom that seems to have been disregarded by 21st century American policymakers. People all over the world and throughout time base their decisions primarily through lived experience. The US dollar became the world’s reserve currency in the aftermath of World War II, which is now almost eighty years ago. There is virtually no one in power at the American government or in leading institutions...

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Mexico Is Still Blaming Americans for Mexico’s Gang Violence

2024-10-04

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2024-10-04

This week, the US Supreme court announced that it will consider throwing out the Mexican government’s suit in the case of Smith & Wesson Brands v. Estados Unidos Mexicanos. The Mexican government alleges that Smith & Wesson and wholesaler Witmer Public Safety Group Inc. are intentionally conspiring with middle-men to supply Mexican cartels with guns. The Mexican plaintiffs have never actually proven any of this, of course, and this is all...

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Can American Federalism Survive Global De-Dollarization?

2024-10-04

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2024-10-04

“Money does not grow on trees” is an old expression of wisdom that seems to have been disregarded by 21st century American policymakers. People all over the world and throughout time base their decisions primarily through lived experience. The US dollar became the world’s reserve currency in the aftermath of World War II, which is now almost eighty years ago. There is virtually no one in power at the American government or in leading institutions...

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The Imaginary “Boom” in the Small-Business Economy

2024-10-04

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2024-10-04

For more than four years now, the Biden Administration has been insisting that the state of small business in America is better than it has ever been. This claim, however, is based on a single government statistic: the business applications metric published by the Census Bureau, which is a record of applications for an employer identification number (EIN).The Administration has repeatedly and enthusiastically promoted the surge in these new...

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A Major Contribution to Libertarian Social Thinking

2024-10-04

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2024-10-04

Common Law Liberalism: A New Theory of the Libertarian Society by John Hasnas. Oxford University Press 2024. 328pp.John Hasnas, who teaches law and philosophy at Georgetown University, has written one of the most valuable books about libertarian theory that has appeared in several decades. Its principal value is that, although Hasnas has not been influenced very much by Ludwig von Mises and Murray Rothbard, he arrives at many of their insights in...

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“Guns and Butter” Is Back

2024-10-04

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2024-10-04

Sabrina Carpenter has been a star since she was 12, staring on Disney’s Girl Meets World. Now she’s a singer and, I’ve heard, she has broken records set by the Beatles. She’s recorded a catchy cover of Nancy Sinatra‘s 1965 hit “These Boots Are Made For Walking.”  ”I want to feel as confident as humanly possible so I can be up there and not worry about what I’m doing,” Carpenter says. “It helps me perform better.” She ended up donning custom...

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The Regime Wants Appalachia To Suffer

2024-10-04

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2024-10-04

Americans from Florida to North Carolina continue to deal with the devastating consequences of Hurricane Helene, now the deadliest hurricane to hit the US since Katrina. The stories emerging from the region are heart breaking. The economic damage to property and the infrastructure will take years to recover from. Large parts of the area will never return to what they were.Many Americans may be unaware of the extent of the damage. Unlike Hurricane...

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