Category Archive: 6b.) Mises.org

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Murphy’s Exposé on Money and Banking

2024-04-18

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2024-04-18

The consequences of this short-lived paradise [inflation] are malinvestment, waste, a wanton redistribution of wealth and income, the growth of speculation and gambling, immorality and corruption, disillusionment, social resentment, discontent, upheaval and riots, bankruptcy, increased governmental controls, and eventual collapse. — Hazlitt, Henry. Man vs. The Welfare State (LvMI) (p. 136). Ludwig von Mises Institute. Kindle Edition.“A few months,...

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For a New Liberty: Discussion Questions

2024-04-17

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2024-04-17

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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100-Percent Reserves banking in Argentina and the Real Bills Doctrine

2024-04-17

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2024-04-17

My latest contribution to the debate on Milei´si banking reform and the 100% reserve ratio has received a response in form of a video by Juan Ramón Rallo who defends a fractional reserve banking system based on real bills. The video is mainly about the question of whether fractional reserve banking necessarily triggers an Austrian business cycle, given that fractional reserves allow banks to create new money (fiduciary media) and channel it into...

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Can John C. Calhoun Save America?

2024-04-17

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2024-04-17

In an essay entitled “A Strategy for the Right” the late economic and libertarian scholar, Professor Murray N. Rothbard, called John C. Calhoun’s Disquisition on Government “one of them most brilliant essays on political philosophy ever written.” Published in 1850, the year of his death, Calhoun’s Disquisition warned – and explained – how the American political system could evolve into tyranny, and how to stop that from happening. Americans are now...

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Social Security and the Decline of the Employer Pension System

2024-04-17

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2024-04-17

The Social Security Act is considered the first federal social welfare program in American history, being signed into law by President Franklin Roosevelt in 1935. American government pensions have existed for government employees and veterans since the Civil War, and private pension systems even longer. There was not great support for a public pension system in the US, as voluntary association and self-sufficiency was the standard. An example of...

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Speaker Mike Johnson Continues the GOP’s War against Freedom

2024-04-17

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2024-04-17

Thomas Woods has reminded us more than once that "no matter who you vote for, you get John McCain." It's not strictly and always true, of course, but the evidence is clear that it's often true. The latest example is the GOP's speaker of the House Mike Johnson (R-Louisiana) who has turned out more or less exactly like us skeptics have predicted. Johnson is a friend to the war party, a do-nothing on issues important to the rank and file...

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Classical Liberal Roots of the Marxist Doctrine of Classes

2024-04-17

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2024-04-17

Few ideas are as closely associated with Marxism as the concepts of class and class conflict. It is, for instance, impossible to imagine what a Marxist philosophy of history or a Marxist revolutionary theory would be in their absence. Yet, as with much else in Marxism, these concepts remain ambiguous and contradictory. For instance, while Marxist doctrine supposedly grounds classes in the process of production, The Communist Manifesto asserts in...

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Murray Rothbard Understood the Importance of Self-Ownership

2024-04-17

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2024-04-17

In Aristotle’s well-known Ethics, he poses an age-old question: Can reasoning guide action, and should it direct our way of living? Unfortunately, this question loses its relevancy when put in the context of coercive governments, not unlike our own twenty-first-century American government which is hypervigilant and ever present in many aspects of our lives, including our education. What autonomy are people left with for the formation of reasoning...

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A Message from the Great Dr. Ron Paul

2024-04-17

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2024-04-17

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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How Court Historians Turn Political Villains into Heroes

2024-04-17

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2024-04-17

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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A Day in the Life of a “Foreign Adversary Controlled” Application

2024-04-17

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2024-04-17

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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Is Anyone Smart Enough to use Inflation & the Public Debt to Manage the Economy?

2024-04-17

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2024-04-17

Last week I posted something on how business confidence affects capital investment. Many factors may affect business confidence. The psychological mindset of business owners might change on its own. Public policies may affect business confidence too. Scholars at the University of Chicago developed an economic policy uncertainty index, which estimates our felt ambiguity regarding public policies1. The next graph depicts lagged effects of year over...

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What are Mises’s Six Lessons?

2024-04-17

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2024-04-17

Ludwig von Mises’s Economic Policy: Thoughts for Today and Tomorrow has become quite popular recently. The Mises Book Store has sold out of its physical copies, and the PDF, which is available online for free, has seen over 50,000 downloads in the past few days.This surge in interest in Mises’s ideas was started by UFC fighter Renato Moicano, who declared in a short post-fight victory speech, “I love America, I love the Constitution...I want to...

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Iran’s Attack on Israel Provides an Opportunity to De-escalate

2024-04-17

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2024-04-17

Over the weekend, the Iranian military launched hundreds of drones and missiles toward Israel. Israeli, American, and Jordanian air defenses reportedly intercepted and shot down almost everything Iran fired. One child from a Bedouin village in southern Israel was hurt by shrapnel falling from an intercepted missile, and an Israeli air base in the Negev Desert—also in southern Israel—sustained some structural damage.This attack was the widely...

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Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression

2024-04-16

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2024-04-16

One of the great myths of US history is that Herbert Hoover was a laissez-faire president. In truth, he intervened in the economy more than any of his predecessors, creating the crisis known as the Great Depression. His successor made things even worse.

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Frédéric Bastiat Was a Radical Opponent of War and Militarism

2024-04-16

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2024-04-16

Frédéric Bastiat is well known for his radical free-market positions as expressed in his still-famous book The Law and in insightful essays such as "That Which Is Seen and That Which Is Not Seen." Joseph Schumpeter called Bastiat "the most brilliant economic journalist who ever lived."

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Millennials: In Costco We Trust

2024-04-16

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2024-04-16

When the latest CPI number came in hot at 0.4% for March and the annual core CPI inflation rate held at 3.8%, Betsey Stevenson, professor of economics at the University of Michigan appearing on CNBC’s Squawk Box said nonchalantly “Three percent inflation is no big deal.”

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What Fed “Independence” Really Means

2024-04-16

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2024-04-16

A recent undercover video interview with a Fed economist by a Daily Caller reporter contains explosive revelations about the profoundly anti-democratic doings of the Fed.    In the video, Federal Reserve principal economist Aurel Hizmo, a speech writer for Fed Chair Jerome Powell, reveals “classified information” about how Powell deliberately acted to undermine President Trump and expand Fed activities far beyond its legislated monetary policy...

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FISA Exchanges Real Liberty for Phantom Security

2024-04-16

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2024-04-16

House Speaker Mike Johnson betrayed liberty and the Constitution by making a full-court press to get a “clean” reauthorization of Section 702 of the Foreign Intelligence Surveillance (FISA) Act through the House.

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Artificial Intelligence and Irrational Fears

2024-04-16

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2024-04-16

Where’s Jerry Garcia of the Grateful Dead? Seriously, what list of the greatest rock guitarists of all time would not—could not—include him? Sure, I know the internet article was just some teaser to get me to mindlessly click through an ad-laden list.

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