Category Archive: 6b.) Mises.org

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Honest Money in Dishonest Hands

2022-10-28

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2022-10-28

For those who would find relief knowing the Bible sanctions a market-derived medium of exchange, Gary North’s Honest Money will come as a godsend (no pun intended). Even for those reprobates who forswear a religious worldview, his book will provide a solid grounding in monetary theory and history.

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Are Seasonally Adjusted Economic Data Useful?

2022-10-27

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2022-10-27

It is not possible to establish the conditions of the economy by just inspecting the data as a whole, according to many economists. What is required, instead, is to break the data into its key components, which supposedly will enable economists to identify the true state of the economy.

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Myth versus Ideology: Why Free Market Thinking Is Nonideological

2022-10-26

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2022-10-26

I’ll begin with a provocative thesis: socialism is ideological and free market thinking, while involving myth, is nonideological. I will show why socialism is ideological and why free market thinking involves myth but is nonideological by defining the terms myth and ideology and distinguishing them from each other.

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Can We Have Scarcity but Reject the “Scarcity Mindset?” in a Word, No

2022-10-25

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2022-10-25

Since I am an economist and my school year is not too far along, my classroom discussion of how all of economics traces back to the fact of scarcity (the combination of limited resources, which implies a limited ability to produce, along with wants that always exceed the amount that can be produced) facing everyone was quite recent.

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The Recession in the Productive Sector Is Here

2022-10-24

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2022-10-24

Governments and central banks have become the lender of first resort instead of the last resort, and this is immensely dangerous. Global debt soars, inflation creeps in, and many of the so-called supply chain disruptions are the result of zombification after years of subsidizing low productivity and penalizing high productivity with increased taxes.

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“Spend Now, and Deal with the Consequences Later” Is the Worst Policy

2022-10-24

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2022-10-24

Quantitative easing was designed as a tool to provide time for governments to implement structural reforms, boost growth, and strengthen the economy. However, it has become a tool to increase the size of government and take increasingly riskier levels of debt.

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Federal Reserve Tampering with Interest Rates Distorts the Shape of the Yield Curve

2022-10-23

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2022-10-23

For many commentators, a change in the shape of the differential between the long-term interest rate and the short-term interest rate—i.e., the yield spread provides an indication of the likely direction of the economy in the months ahead. Thus, an increase in the yield spread raises the likelihood of a possible strengthening in economic activity in the months to come.

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The Hardheaded Thought of Ludwig von Mises: Ever Attacked and Ever Triumphant

2022-10-22

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2022-10-22

Such is the intellectual stature of Ludwig von Mises that even many decades after his passing the opponents of classical liberalism and laissez-faire capitalism continue to attack his life’s work.

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Slavery Did Not Promote Capitalism: The New Economic History of Capitalism Is Simply Wrong

2022-10-22

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2022-10-22

The “new history of capitalism” (NHC) continues to receive widespread acclaim despite mounting inaccuracies. Although critical reviews have punctured adherents’ arguments many still cling to wrongheaded assumptions that exaggerate the role of slavery and cotton in powering America’s economic progress. Several industries were complicit in fueling slavery, but their success was never hinged on slave production.

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Student Loan Debt: The Financial Time Bomb Politicians Want to Ignore

2022-10-21

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2022-10-21

Media reports claim this debt prevents economic recovery. Chuck Schumer would erase it with the flick of a pen. Elizabeth Warren would remove it to free students’ ability to buy a house and form a family. Janet Yellen opines paying off student loan debt (SLD) will free up venture capital. Alexandria Ocasio-Cortez claims the proposed Biden plan is inadequate.

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Europe’s Energy Crisis Was Created by Political Intervention

2022-10-20

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2022-10-20

An energy policy that bans investment in some technologies based on ideological views and ignores security of supply is doomed to a strepitous failure. The energy crisis in the European Union was not created by market failures or lack of alternatives. It was created by political nudging and imposition.

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Higher Education in Crisis: The Problem of Ideological Homogeneity

2022-10-19

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2022-10-19

In my second article on the college problem, I discussed the public policy factors that contribute to the rising cost of higher education. But politics makes its way into education through more than public policy, as professors bring their political views into their classrooms and research.

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The French Must Rediscover the Taste for Individual Freedom: An Interview with Professor Pascal Salin

2022-10-19

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2022-10-19

Pascal Salin is an economist, professor emeritus at the University of Paris-Dauphine, and was president of the Mont-Pelerin Society from 1994 to 1996. Among the extensive list of books Professor Salin has published, mention can be made of the following titles: La vérité sur la monnaie (Paris: Odile Jacob, 1990), Libéralisme (Paris: Odile Jacob, 2000), Français, n’ayez pas peur du libéralisme (Paris: Odile Jacob, 2007), Revenir au capitalisme pour...

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Andrew Moran: Hồi chuông cảnh báo cho lạm phát đình trệ

2022-10-19

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Join this channel to get access to perks: https://www.youtube.com/channel/UCbSX3WjMj8xVHyMUt206mjg/join

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Edward Chancellor’s Much-Needed (But Not Heeded) Wisdom on Interest Rates

2022-10-18

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2022-10-18

The subject of time and money has hit a boiling point. Just look at Sri Lanka and Iran, where food riots have turned deadly, or, shall we say, currency riots have. People can’t buy food, and “protesters angry at the soaring prices of everyday commodities including food, have burned down homes belonging to 38 politicians as the crisis-hit country plunged further into chaos, with the government ordering troops to ‘shoot on sight,’” reports...

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What Do Supply and Demand Curves Really Tell Us? Not Very Much

2022-10-17

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2022-10-17

It is commonly held that prices of goods and services can produced by means of supply and demand curves. These curves describe the relationship between the prices and the quantity of goods supplied and demanded. Within the framework of supply-demand curves, an increase in the price of a good is associated with a fall in the quantity demanded and an increase in the quantity supplied.

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Fed Socialist Money Manipulation Cancels Individuals’ Better Judgment

2022-10-17

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2022-10-17

When a person is free to work, shop, and invest, he brings to each task his knowledge from doing the other tasks. As he works, he has a sense of what it takes to please customers, because he’s also a customer. As he shops, he has a sense of what workers can do for him, because he’s also a worker. As he invests, he has a sense of who adds value best, because he also works to add value and shops for value.

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Higher Education Woes: Student Loans Help Fuel Higher College Costs

2022-10-16

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2022-10-16

In my previous article on the college problem, I discussed the cultural factors that have contributed to the falling value of a university degree, which I hoped would show that we cannot reduce the decline of higher education to public policy failures. However, bad policy has been a major contributor to the problems plaguing the university system, both at the federal and state levels.

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Does Bank Lending by Itself Set Off Boom and Bust Cycles?

2022-10-16

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2022-10-16

Popular thinking says that banks are the key factor in the expansion of credit. However, is this really the case? For example, take a farmer Joe that produces two kilograms of potatoes. For his own consumption, he requires one kilogram, and lends the rest for one year to a farmer Bob. The unconsumed one kilogram of potatoes that he agrees to lend is his savings.

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Interview with Jakub Bożydar Wiśniewski

2022-10-15

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2022-10-15

In today’s world, dominated as it is by the ephemeral, the superficial, and the inconsequential, it can be hard for a rational, dispassionate observer to make sense of what is going on—politically, socially, economically, and philosophically.

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