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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Category Archive: 6b.) Mises.org
The Only Type of Democracy that Actually Works
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
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
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
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Kamala Harris Is Not a Radical Communist, but That Makes Her Even More Dangerous
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
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
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
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The Bankruptcy Parade Continues: U.S. Cities and Towns
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
“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
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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Hayekian liberty and the predatory state
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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Kamala’s press chief tried to censor me
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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Protecting infant industries doesn’t help the economy
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 U.S. military machine is unsustainable
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
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
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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China’s competitiveness is driven by low taxation, not by industrial policy
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 Fed Is Warping the Shape of the Yield Curve
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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On Swiss National Bank
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SNB Sight Deposits: decreased by 2.4 billion francs compared to the previous week
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Gold finds some support at $2,660, with upside attempts limited
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USD/CHF aims to revisit 0.8950 as SNB to cut rates further
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US Dollar tries to keep gains for a fourth straight day despite flat CPI
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Gold price retreats from over two-week top; bulls turn cautious ahead of US CPI
Main SNB Background Info
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