Category Archive: 6b.) Mises.org

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Thanks to the Fed, You’ll Work More this Year to Keep Last Year’s Standard of Living

2022-10-14

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2022-10-14

According to the establishment survey of employment, released last week by the Bureau of Labor Statistics, total employment increased, month-over-month by 263,000 jobs. The "job market stays strong" reads one CNBC headline, and the new jobs print was hailed as a great achievement of the Biden Administration by MSNBC pundit Steve Benen. 

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Die EZB auf den Spuren der Reichsbank

2022-10-13

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Ein Vortrag von Thorsten Polleit, gehalten beim Friedrich August von Hayek-Club Köln am 22. Uni 2020.

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College as an Economic and Social Problem: Dealing with the Culture

2022-10-13

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2022-10-13

Jeff Deist recently posed the question “Is College Worth It?” My first thought when I opened the article was that he could have reduced the entire piece to a single word: “no.”

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The Turkish Way

2022-10-13

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2022-10-13

The Wall Street Journal reported on September 22 that Turkey’s central bank cut that country’s benchmark interest rate to 12 percent from 13 percent, pushing the Turkish lira lower as much as 0.4 percent against the dollar to a new record low after the decision. One US dollar recently bought 18.3866 lira.

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Allen Mendenhall: Putting Humanness and Ethics Back Into Business Economics

2022-10-12

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2022-10-12

We are living through a particularly bad moment in history for free markets and capitalism. Government, not business, is promoted as the solution to all problems.

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Inflation, High Inflation, Hyperinflation

2022-10-11

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2022-10-11

The word “inflation” is heard and read everywhere these days. However, since different people sometimes have very different understandings of inflation, here is a definition: Inflation is the sustained rise in the prices of goods across the board.

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The Fed’s Real Mandate

2022-10-11

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2022-10-11

The Federal Reserve has a legal dual mandate to minimize unemployment and price inflation. The current “dual” between the two mandates is to reduce price inflation by increasing interest rates to increase unemployment and kill businesses to choke off aggregate demand.

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It’s All about the Benjamins: Why the Dollar Determines US Policies

2022-10-10

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2022-10-10

Imagine a hypothetical libertarian paradise (“Paradise”) that seeks only to live in peace and harmony with the rest of the world. Unfortunately, the rest of the world is not as pacifistic as Paradise; indeed, it has at least a few bad guys, countries controlled by people willing to use violence to get what they want. Worse yet, our Paradise is the only country with sufficient military might to resist the world’s bad guys effectively.

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The Economy Is a Process Not a Factory

2022-10-10

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2022-10-10

[Chapter 4 of Per Bylund's new book How to Think about the Economy: A Primer.] To help us understand what is going on in the economy, what is important is not the types and number of goods that sit on store shelves. It is why and how they got there.

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Die Währungsgeschichte der Deutschen. Ein Trauerspiel in fünf Akten

2022-10-09

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Ein Vortrag von Thorsten Polleit, gehalten am 18. Januar 2020 auf der ef-Jahreskonferenz in Usedom.

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How to Do Economics

2022-10-09

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2022-10-09

Economics is often faulted for being “ideological”—for promoting free markets. This is a misunderstanding. The free market in economics is a model—an analytical tool. It excludes complicating circumstances and influences and allows us to study core economic phenomena on their own so that they are not mistaken for other effects.

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The Fraudulent Social Contract of Bad Money Regimes

2022-10-09

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2022-10-09

Bad money regimes base themselves on a dysfunctional social contract. You, the people, agree to put up with a “moderately good” money in return for us (the regime) providing benefits in terms of employment and economic prosperity which would be unavailable if you (the people) had insisted on a high-quality money.

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Peter Klein: Why Managers Still Matter

2022-10-08

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2022-10-08

Entrepreneurial businesses embrace adaptiveness and change, and continuous innovation enabled by flexible and responsive organizations, empowered at every level. That doesn’t mean there’s no role for managers.

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A Cliché of Socialism: Under Public Ownership, We the People Own it!

2022-10-08

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2022-10-08

Foundation for Economic Education founder and cornerstone Leonard Read always had an ear out for widely accepted but misleading clichés that served to aggrandize government power and limit liberty. In his 1965 “A Cliché of Socialism: Under Public Ownership, We the People Own It!” He focused his attention on the large gap between public ownership of assets and the idea that “we the people” own them.

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We Are Not the Government, but America Is No Longer Anything More than the Government

2022-10-07

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2022-10-07

We must, therefore, emphasize that “we” are not the government; the government is not “us.” The government does not in any accurate sense “represent” the majority of the people.

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Thorsten Polleit: digital oder nicht – Zentralbankgeld bleibt wertlos

2022-10-07

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#thorstenpolleit #fiatgeld #zentralbankgeld #ezb #digitalgeld Thorsten Polleit ist ein bekannter deutscher Chefökonom beim Degussa Sonne/Mond Goldhandel.

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The Front Lines of the Language Wars

2022-10-06

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2022-10-06

The bishop was correct, in his time and ours. Spain proceeded to become the most powerful empire in the world over the following century, spreading her mother tongue across the Americas—just as the Roman army had imposed Latin across its sweep and just as the British Empire would bring English to India and Africa.

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Government Malinvestment Is Endemic and Ceaușescu’s Socialist Romania Excelled in It

2022-10-05

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2022-10-05

Today’s intellectual framework considers government spending to be the solution to any economic and social problem. Be it helicopter money to households and businesses during the pandemic, subsidies for electric cars, or debt forgiveness to students, the government generosity must be growth and welfare enhancing by definition.

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What Drove the Industrian Revolution in Britain? It Wasn’t Slavery

2022-10-04

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2022-10-04

The link between the transatlantic slave trade and industrial growth in Britain is a recurring theme in public discussions. There is a widespread assumption that the profitability of the slave trade requires Britain to compensate the descendants of Africans, since slavery helped to enrich some institutions.

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Ep. 5774 – Jeff Deist on the State of the Economy – 9/30/22

2022-10-03

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Jeff Deist, president of the Mises Institute, is back to talk about the strange economic situation we find ourselves in. Deist observes that the issue with today’s economic discourse is the focus on GDP and employment. What really matters, he says, is productivity.

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