Category Archive: 6b.) Mises.org

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The Treasury is Running Out of Creditors

2023-12-01

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2023-12-01

The US Government will face another round of federal debt expansion in 2024, but will there be enough creditors to allow their continued spending? Investors are not buying Treasury Debt at forecasted rates, foreign investors are exiting federal debt, and even the Federal Reserve is reducing its treasury holdings. Dr. Jonathan Newman recently wrote for the Mises Wire on this topic, and he joins Bob to break down the data and explain what is up with...

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The Inevitable Bust: Why Economic Booms Contain the Seeds of Their Own Destruction

2023-12-01

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2023-12-01

While the Fed tries to engineer the mythical “soft landing” for the economy, Austrian economists know that this is an exercise in futility. Once the credit-fueled boom occurs, the bust logically follows. Original Article: The Inevitable Bust: Why Economic Booms Contain the Seeds of Their Own Destruction

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The Immorality of Protectionism

2023-12-01

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2023-12-01

The 2024 campaign is underway, and that means new efforts by politicians to pander to economic nationalists and protectionists by calling for new trade wars and trade controls. This will surely happen even though the Biden Administration has done very little to reverse the protectionist policies that Donald Trump imposed during his term. For example, new so-called "Section 301" tariffs, which have been in place since 2018, are still in...

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A Chance to Double Your Gift!

2023-12-01

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2023-12-01

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match donations received through December 11. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on. For the last nine years, Gary has kickstarted our year-end campaign with his matching gift. He's ready to match your gift today! With a donation of $25 or more, you’ll receive a copy of Dr. Joseph Salerno's The Progressive Road to Socialism. And,...

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It’s Time to Bust the Myth of Fed Omnipotence

2023-12-01

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2023-12-01

Economists, investors, businesspeople, and yes, even our wise politicians seem to believe that the Federal Reserve, using its various “tools” to create money out of thin air (which is illegal for mere mortals like us), can control the economy and financial markets any way it likes. In particular, these people believe that the Fed doesn’t want a recession and a stock bear market, and the Federal Reserve can simply prevent these economic events from...

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Henry Kissinger: War Criminal and Enemy of Mankind

2023-12-01

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2023-12-01

Former US secretary of state and national security advisory Henry Kissinger died on Wednesday. He was 100 years old. Kissinger is perhaps most notable for his work during Nixon Administration when he helped Nixon prolong the Vietnam War and expand it to Cambodia and Laos. But his influence was certainly not limited to the Nixon years, he served in an official capacity in the Ford administration, and in more informal roles during the Reagan and Bush...

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Ten Years Ago, I Discovered the Mises Institute. These Are the Things I Wish I Had Done Differently

2023-11-30

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2023-11-30

Ten years ago, I discovered the Mises Institute. This is the advice I wish I could send back to my younger self. Original Article: Ten Years Ago, I Discovered the Mises Institute. These Are the Things I Wish I Had Done Differently

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Non Amo Te, Ahmari

2023-11-30

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2023-11-30

Sohrab Ahmari has written a passionate indictment of the free market. The core of his indictment is expressed in one of the book’s epigraphs. It is from the Vulgate, and in translation reads: “Behold, the wages you withheld from the workers who harvested your fields are crying aloud, and the cries of the harvesters have reached the ears of the Lord of hosts” (James 5:4, NAB). Ahmari, a well-known journalist who has written for the New York Post and...

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Do You Have a Right to Sell Your Land to the Chinese?

2023-11-30

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2023-11-30

Ryan McMaken and Benjamin Seevers examine the reasoning behind efforts to destroy Americans' right to sell land to foreign nationals, especially the Chinese. It seems some think that Chinese nationals' ownership of 0.03% of American farmland is a big problem.  "Arkansas' Attack on Chinese-Owned Property Is Reckless and Crony-Driven" by Benjamin Seevers: Mises.org/RR_162_A "Should We Allow U.S. Land To Be Sold to the...

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Austrian Student Scholars Conference 2024

2023-11-30

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2023-11-30

Grove City College will host the Austrian Student Scholars Conference on February 16-17, 2024. Open to undergraduates and graduate students in any academic discipline, the ASSC will bring together students from colleges and universities across the country and around the world to present their own research papers written in the tradition of Austrian School intellectuals such as Ludwig von Mises, F.A. Hayek, Murray Rothbard, and Hans Sennholz....

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Millions and Billions and Trillions—Oh My!

2023-11-30

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2023-11-30

Dorothy and her companions in the movie The Wizard of Oz feared lions and tigers and bears as they journeyed through the woods to visit the wizard. But real people living today might fear frighteningly large numbers more than large wild animals. We live today with some very large numbers that contain many zeros and commas, figures so large that the human brain can barely comprehend them. With so many zeros to count, it is often easier to express...

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From the Invisible Hand to the Invisible Sleight-of-Hand

2023-11-30

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2023-11-30

Advocates of unbacked paper money claim that theirs is the “civilized” choice, as opposed to gold, or what Keynes called “that barbarous relic.” These inflationists, however, are the ones wrecking civilization as we have known it. Original Article: From the Invisible Hand to the Invisible Sleight-of-Hand

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Inflationary Expectations Do Not Cause Inflation

2023-11-30

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2023-11-30

Many economists believe that inflationary expectations cause general increases in prices. For instance, if there is a sharp increase in oil prices, people will form higher inflationary expectations that set in motion general increases in the prices of other goods and services. According to the former Federal Reserve chairman Ben Bernanke, “Undoubtedly, the state of inflation expectations greatly influences actual inflation and thus the central...

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As the US Treasury Runs Out of Creditors, Its Options Dwindle

2023-11-29

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2023-11-29

Are the chickens coming home to roost for the US Treasury? As Ryan McMaken noted in a recent Mises Wire article, the United States is in a debt spiral and there’s no easy way out. The problem is multifaceted, but the origin is profligate government spending. While it typically spikes during crises, spending is increasing at an alarming rate even outside of crisis periods. And tax revenues are not keeping up, which means ever-deepening deficits....

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Time Preference Is the Key Driver of Interest Rates

2023-11-29

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2023-11-29

Forget the other mainstream explanations for interest. Time preference explains this phenomenon and gives a true picture of why interest exists in the first place. Original Article: Time Preference Is the Key Driver of Interest Rates

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Should We Embrace the Stateless Roman Political Thought?

2023-11-29

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2023-11-29

The traditionalist author Álvaro d’Ors emphasized in his work that the political thought of Rome was essentially stateless as it had a personalistic character. In contrast, Greek political thought had a territorial focus, giving rise to the idea of the state. Intellectuals who created and legitimized the idea of the state in modernity drew from Greek political thought. To abolish the state, we need to investigate what both the Greeks and Romans...

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Statist Ideology and War: Israel versus Hamas

2023-11-29

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2023-11-29

As this author previously has noted, the ideology of statism is responsible for much of the violence that plagues the world. We see this played out in Israel's aggressive retaliatory attacks in Gaza in response to the October 7 killings by Hamas. Original Article: Statist Ideology and War: Israel versus Hamas

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Progressive Interventionism Is Ruining American Healthcare

2023-11-29

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2023-11-29

Two weeks ago, I wrote about the problems with Joe Manchin’s argument that Congress needs to reject the “extremism” in its ranks if it’s ever going to solve the many problems facing Americans. I argued that the opposite is true. That Congress is almost entirely unified behind a specific pace of progressive interventionism where the predictable consequences of previous interventions are perpetually used to justify more intervention. In this cycle,...

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There’s No Easy Way Out of This Debt Spiral

2023-11-28

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2023-11-28

The new problem we now face arises from the fact that huge deficits are only manageable so long as interest rates remain very, very low.  Original Article: There's No Easy Way Out of This Debt Spiral

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The Power of Austrian Causal-Realist Analysis

2023-11-28

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2023-11-28

For many economists, economic growth is a mystery. By “economic growth,” Shawn Ritenour has principally in mind economic progress in the less developed countries, but his recipe for growth applies universally. Why is growth a mystery? Ritenour explains why in this excellent book: “Indeed, a major reason modern macroeconomics has not solved the mystery is that as a whole—dare I say, in the aggregate—its analytical approach fosters neither asking nor...

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