Category Archive: 6b.) Mises.org

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The Perpetual Struggle of Libertarian Candidates: Why They Face an Uphill Battle

2024-08-22

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2024-08-22

The Libertarian Party was assembled in 1971 and has proven throughout its history to be a resoundingly-unsuccessful third-party venture in American politics. While libertarians are outspoken in their advocacy for individual liberties, limited government, and free markets, their presidential candidates have proven largely unsuccessful throughout history.

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The Feds’ Runaway Deficits Are Here to Stay

2024-08-22

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2024-08-22

Watch the video version of this article on X/Twitter. The latest monthly report on taxes and spending from the Treasury Department shows that in July, the federal deficit was $244 billion, or nearly one quarter of a trillion dollars.In spite of the fact that the US government managed to collect $330 billion in taxes in July, they also managed to spend $574 billion.

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The New Minimum Wage Increase in Nigeria is a Pyrrhic Victory for Organized Labor

2024-08-22

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2024-08-22

While organized labor across Nigeria is currently jubilant over their recent win in obtaining a minimum wage increase by fiat, every student of praxeology in Nigeria receives this news with mixed feelings and the utmost reservation, because we are cognizant of the outcomes which inevitably follow from such interventions in the free market.

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Greedflation and Debtflation are Nonsense

2024-08-21

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2024-08-21

Popular discussions of inflation and the economy have produced more heat than light, if not heat and darkness. President Biden has made multiple remarks on his record, which taken singly are each incorrect. Taken together, Biden’s remarks on Bidenomics are incoherent.Biden claims that his main fiscal stimulus policy, the American Recovery Plan delivered record reductions in unemployment without causing inflation. Biden has insisted that corporate...

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John Kenneth Galbraith’s The Great Crash, 1929: A Retrospective

2024-08-21

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2024-08-21

The New Deal has been a key driver behind how the Democratic Party justified its hold on political power in the United States. The precursor to the New Deal was the Great Depression, which, in the minds of many Americans, was triggered by the stock market crash in late 1929.However, is the Democratic memory of the crash and Depression thereafter accurate? Did those events justify the policies Democrats pursued through the New Deal? One way to...

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The Only Type of Democracy that Actually Works

2024-08-21

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2024-08-21

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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Federal Jobs Report Slices Total Jobs in New Revision

2024-08-21

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2024-08-21

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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Federal Jobs Report Slices Total Jobs in New Revision

2024-08-21

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2024-08-21

The Bureau of Labor Statistics (BLS) today issued a major downward revision in total employment, telling us what more savvy observers of the federal jobs data already knew. Namely, that the employment situation isn’t nearly as strong as the federal establishment survey says it is.The establishment survey is the employment survey that looks at total jobs—whether full time or part time—and not at total employed people. So, that’s the report that’s...

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Back to the Future With Price Controls

2024-08-21

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2024-08-21

Democrat presidential candidate Kamala Harris is demonstrating why monetary debasement has always been a favorite way for government officials to plunder the citizenry. Rather than focusing on the Federal Reserve as the root cause of prices rising across society, she’s blaming rising food prices on grocery-store owners. Consequently, she says that if she is elected president, she’ll get a federal “anti-gouging” law enacted that prevents grocery...

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Kamala Harris Is Not a Radical Communist, but That Makes Her Even More Dangerous

2024-08-21

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2024-08-21

Lately, Donald Trump and his team have taken to labeling their opponent, Vice President Kamala Harris, as a far-left socialist—even a full-on communist. The strategy comes after an uncharacteristic lull in messaging from the former president and his team as they worked out how to prudently attack the vice president.It’s the job of a presidential campaign to make people terrified about what’s in store for the country if the other side were to win....

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Why We Need Revisionist History

2024-08-20

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2024-08-20

The term “revisionism” came into use after World War I, when historians like Harry Elmer Barnes, Sidney Bradshaw Fay, and Charles Austin Beard challenged Article 231 of the Treaty of Versailles, which assigned exclusive guilt to Germany and its Kaiser for the outbreak of the world war, with all its appalling destruction and massacres, It was on the basis of that clause that the Treaty imposed on Germany a Carthaginian peace, memorably condemned by...

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Krugman: Harris Hasn’t Proposed Price Controls and It’s Good That She Did

2024-08-20

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2024-08-20

In Paul Krugman’s latest column, he claims that Kamala Harris hasn’t advocated for price controls, only a ban on price gouging on groceries. Of course, these are the same thing. Krugman’s own principles text defines price controls as “legal restrictions on how high or low a market price may go.” A ban on price gouging is a legal restriction on how high a market price may go. Therefore, even Krugman-the-textbook-author admits that a ban on price...

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Donald Trump Does Not Know the “Correct” Interest Rate

2024-08-20

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2024-08-20

Former President and current Republican Presidential Nominee Donald Trump recently renewed his criticisms of the Federal Reserve. He suggested that, if he returns to the White House next year, he will push Congress to pass legislation giving the president at least a say in the Fed’s decisions regarding interest rates.The Great Money Bubble...Stockman, David A.Best Price: $2.31Buy New $9.46(as of 09:07 UTC - Details)President Trump thinks that...

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The Bankruptcy Parade Continues: U.S. Cities and Towns

2024-08-20

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2024-08-20

The American 21st century bankruptcy show continues with cities, counties, and local special purpose districts (SPD’s) (local entities) for fire protection, hospitals, libraries, water districts, etc. One common bankruptcy theme was that when a project began and a bond-covenant issued, revenue from the project did not meet predictions, bond payments were not timely, the local entity could not renegotiate the bond payments with the lender(s), and so...

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Do We Need 3% Inflation? Economic Growth and Deflation

2024-08-20

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2024-08-20

“As long as it is kept within certain limits, inflation is an excellent psychological support of an economic policy which lives on the consumption of capital.” (Ludwig von Mises, Socialism, pp. 448-9)What causes economic growth? Is it a reduction in tariffs? Is it a cut in tax rates? Is it cutting red tape and bureaucracy? While each might stimulate or encourage economic growth, none of these choices causes growth. Economic growth is the result of...

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What Might Have Been: Cantillon vs Smith

2024-08-20

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2024-08-20

A review of: A Tale of Four Cities: From the Invisible Hand to Cancel Cultureby Phil DuffyHello, and welcome to another episode of the Minor Issues Podcast. I’m Mark Thornton at the Mises Institute.I am the book review editor of the Quarterly Journal of Austrian Economics. The QJAE is the academic economic journal published by the Mises Institute. Some listeners may wonder why I have never reviewed a book on this podcast, even though I very often...

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The U.S. military machine is unsustainable

2024-08-20

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2024-08-20

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 Chevron decision may also apply to federal land policies in the West

2024-08-20

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2024-08-20

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 rule of law and property rights

2024-08-20

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2024-08-20

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...

Read More »

China’s competitiveness is driven by low taxation, not by industrial policy

2024-08-20

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2024-08-20

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...

Read More »