Category Archive: 6b.) Mises.org

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Keynes Was Not Much Better at Investing than He Was at Understanding Economics

2024-10-17

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2024-10-17

John Maynard Keynes was an English “economist” who spawned a revolution in economic thinking that broke out in Britain from a cesspool of socialist thinking, creating a title wave of anti-economics that overwhelmed and dominated the economics profession worldwide known as Keynesian economics. His experience as an investor is very instructive of his mindset and the unfortunate revolution that he brought to the world.The Keynesian RevolutionMost...

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Why Equality Is Bad

2024-10-16

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2024-10-16

Many people oppose the free market because it leads to inequality of wealth and income. It is unfair, they say, that some people have vastly more money than others. Some defenders of the free market respond that these inequalities, while undesirable in themselves, make the poor better off than they would be otherwise, and so should be accepted. Another argument made by defenders of the free market is that restricting inequality would interfere...

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Eggs and Nest Eggs

2024-10-16

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2024-10-16

My friends at AARP were the first to let me know that my monthly stipend from taxpayers by way of Uncle Sam will increase by 2.5% beginning in January. The retiree advocate gives some laughable context, “The 2025 cost-of-living adjustment (COLA) is the lowest since 2021, reflecting a continued cooling of inflation following a surge in consumer prices during the COVID-19 pandemic.”Rob Williams, managing director of financial planning at Charles...

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Hurricane Response Proves Volunteerism is Better Than Authoritarianism

2024-10-16

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2024-10-16

Following Hurricane Helene, many private helicopter pilots launched their own search and rescue missions. One would think government officials would welcome the help of these volunteers, but instead they harassed them and even threatened to arrest them!For example, one private helicopter pilot rescued an individual stranded by Helene. Unfortunately, he was threatened with arrest if he flew his helicopter back into the impacted area to save someone...

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Albert Einstein and the Folly of Marxist Sympathies

2024-10-16

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2024-10-16

In the year 1949, the first issue of the socialist publication Monthly Review was released. Within the collection of essays, one stood out in particular. Notably, its author was none other than Albert Einstein. Somewhat misleadingly titled “Why Socialism?” the essay reads more like a critique of capitalism than a justification of socialism. In it, the brilliant physicist lays out his reasons for rejecting private property and briefly sketches out...

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Failure as a Design Imperative

2024-10-16

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2024-10-16

The idea that “if it can fail, it should” probably seems oxymoronic to most people when applied to the economic realm. Isn’t the whole point of economic systems to succeed, to thrive, and to bring prosperity to all? So it would seem. But not according to the Austrian school of economics. Indeed, we believe that the possibility of failure is a prerequisite for genuine economic advancement.As Ludwig von Mises so eloquently put it, “Human action is...

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The Assault on Our Liberties

2024-10-16

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2024-10-16

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 Expropriator-in-Chief

2024-10-16

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2024-10-16

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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Only the Austrians Can Defeat Central Banking

2024-10-16

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2024-10-16

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 Hunt for the Neutral Rate of Interest

2024-10-16

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2024-10-16

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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Welcome and Opening Remarks to the 2024 Supporters Summit

2024-10-16

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2024-10-16

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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Economists and the State: From Enemies to Friends

2024-10-16

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2024-10-16

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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For Austrian Scholars: Theory Development Workshop at OSU (Application Deadline This Saturday)

2024-10-16

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2024-10-16

A notice from Steve Trost, Director Institute for the Study of Free Enterprise at Oklahoma State University:(Note that the deadline for applications is this Saturday (10/19) at 8p CDT.)Greetings Mises Fellows & Senior Fellows, and Associated Scholars!Mark Packard (Florida Atlantic Univ.) and I have been organizing a Theory Development Workshop (TDW) that will take place November 7 & 8 in Stillwater, OK.  The workshop will be led by Mark...

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Beware of War Hawks in “America First” Clothing

2024-10-16

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2024-10-16

For the past eight years, the two major political parties have been gripped by a messy and ongoing realignment. It began with the election of Donald Trump in 2016, which was a major repudiation of the neoconservative-establishment coalition that had dominated the Republican Party since the presidency of George W. Bush.Trump’s condemnation of the war in Iraq—which he correctly said was sold on lies—and his skepticism of continuing to fund radical...

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The Federal Reserve and the Regime Are One and the Same

2024-10-15

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2024-10-15

For decades, the US Federal Reserve has carefully cultivated and promoted the idea that it is somehow separate and independent from the US regime that created it. The ruse has certainly worked. Economists and media pundits frequently refer to this alleged Fed “independence” as if it were a given, and as if there were a wall of separation between the executive branch and the central bank. Others take it even further, and in podcasts and social media...

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The Constitution’s Negative Effects on Free Trade

2024-10-15

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2024-10-15

Samuel Gregg recently gave a lecture at West Virginia University. Gregg is an engaging speaker and a good antidote to the shift of the Christian right to Christian nationalism or Catholic integralism. However, we should be skeptical of some of what he argues with respect to free trade. Gregg argues that the Constitution is a free-trade agreement between the states, which in part allowed the subsequent uptick in growth in the US. While this is...

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The Perils of Lawfare

2024-10-15

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2024-10-15

A popular quote from Nicolás Gómez Dávila, “Dying societies accumulate laws like dying men accumulate remedies,” reflects the idea that a healthy and mature society should not be preoccupied with constantly creating new laws, prescribing to itself a cocktail of legislative remedies to fix its mounting problems. An over-lawyered society is a society in decay. Everything is disputed. There are sharp divisions, exacerbated by a dishonest and...

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Does the Central Bank Determine Interest Rates?

2024-10-14

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2024-10-14

Most experts agree that, through the manipulation of the short-term interest rates, the central bank can also determine the direction of the long-term interest rates. Some popular thinking alleges that the long-term interest rates are the average of the present and the expected short-term interest rates. Hence, it would appear that the central bank is the key in determining the interest rates. But is this valid?Individual time preferences and...

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Will Politicians Toxify Freedom Forever?

2024-10-14

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2024-10-14

The official theme song of the Kamala Harris presidential campaign is “Freedom” by Beyonce. But a more accurate theme would be the Rolling Stones classic, Under my Thumb. Vice President Harris is seeking the presidency as the greatest champion of freedom in modern times. But Kamala-style freedom will only unleash the government, not private citizens.The original Bill of Rights created a row of bulwarks for citizens to prevent government oppression....

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Ignore The New Power Demographic at Your Own Risk: Young Male Voters

2024-10-14

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2024-10-14

Cries of “Trump is Hitler!” and attempted assassinations have dominated coverage of the upcoming presidential elections. This deprives an intriguing issue of attention. An August 24th New York Times article by culture columnist Claire Cain Miller states the issue: “In some ways, this presidential election has become a referendum on gender roles.” Gender gaps between how men and women vote are not new. But “it is now close to, or certainly in the...

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