It’s not unfair to say that the current unrest and rioting in the UK has been accompanied by a lot of inaccurate information. As with any event, everyone should be aware that it becomes a lot easier to spread false information and have people believe it. Tensions are boiling over and emotions are running amok, and it does not take a genius to understand why you should be more wary of misinformation when emotion is in the driver’s...
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Category Archive: 6b.) Mises.org
The Folly of Legislating against Unfairness
In A Cure Worse Than The Disease: Fighting Discrimination Through Government Control, M. Lester O’Shea criticizes the notion that we should legislate against unfairness. He poses the question as follows: “No one defends unfairness. So shouldn’t it be against the law?” In posing the question that way, his point is that the mere fact that we regard something as unfair – or even morally wrong – does not mean we ought to legislate against it. This...
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Fall 2024 Mises Book Club (Auburn)
Dr. Jonathan Newman and Connor O’Keeffe will host an in-person book club on Murray Rothbard’s The Betrayal of the American Right for Auburn University students. The meetings will be held weekly on Tuesday evenings at the Mises Institute (518 W. Magnolia Ave.), starting September 17th. In The Betrayal of the American Right, Rothbard recounts the history of the laissez-faire, non-interventionist Old Right and how it came into conflict with other...
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Inverted, Recessed, and Hung Out to Dry
Hello, and welcome to another episode of the Minor Issues podcast. I am Mark Thornton at the Mises Institute.The great reckoning seems to be following the course that I have been charting by guesswork. In other words, the great trainwreck seems to be happening. Let’s see what we are experiencing so far.Interest rates appear to be headed out of their long inversion. My anticipation was that the economy would not enter recession when interest rates...
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The Primitive Superstition of our Age
The mid 2000s saw a new intellectual movement emerge on the scene under the name of “New Atheism.” Representatives of the movement saw themselves as champions of the scientific method, of evidence-based reasoned analysis of the facts against the mystical, primitive superstitions of organized religion and all the societal, political and cultural harm it allegedly produces. While they were going on about their business, an intellectual movement that...
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The Political Takeover of the Texas Electricity Market
In June, the Texas Supreme Court rejected a lawsuit claiming that the Public Utility Commission of Texas (PUCT) had broken the law when it set the wholesale price of electricity at $9,000 per megawatt hour for about 80 hours during the Texas blackouts that occurred during Winter Storm Uri in February 2021.The PUCT’s commissioners had dictated the price of electricity because they believed that market-driven “energy prices across the system…as low...
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Markets Need a Lot More than a Rate Cut
The recent market weakness suggests a combination of profit-taking and concerns about the latest United States jobs and manufacturing figures, added to the abrupt unwinding of part of the yen carry trade. Valuations had soared and market participants now demand central bank easing. However, rate cuts may not be enough to send markets to new all-time highs. Money supply growth and quantitative easing are needed to maintain these valuations.Investors...
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Identifying the Causes of Economic Inequality
In Race & Economics, Walter Williams emphasizes the importance of causality in understanding racial inequality. He argues that it is not enough to document and track economic inequality — it is necessary also to understand its causes.Without understanding the causes of any perceived problem, any attempts to resolve it are no more than wild stabs in the dark. For example, Kamala Harris recently argued that black people are less likely to be...
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Removing the “Great” from Britain
Last month, Britain made a dangerous swing to the left. Private education has been attacked, more public housing, the promotion of environmental Marxism, and much more. But that isn’t to say there wasn’t an unspoken gospel among the main parties concerning the deliberate impoverishment of the British Isles. Merely aesthetic differences separate them.A distinguished associate of mine told me about his grievances, the attacks against people earning...
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Sri Lanka as a Role Model for the US
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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Population
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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Taxation in Brazil has Become a Laughable Spectacle
One of the oldest weapons against politics is humor, and it is precisely this that politicians detest the most. They cannot understand themselves as targets of jokes because they see themselves as anointed and enlightened leaders, guiding the ignorant masses. They also despise humor because they cannot control it. Often, humor arises spontaneously, as seen recently with memes associated with Brazil’s finance minister, Fernando Haddad.There has been...
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Selfishness of Soul?
Egoism Without Permission: The Moral Psychology of Ayn Rand’s Ethicsby Tara Smith, University of Pittsburgh Press, 2024, xi + 246 pp.Tara Smith, who teaches philosophy at the University of Texas at Austin, is a distinguished exponent of Ayn Rand’s Objectivist ethics, about which she has written several previous volumes. In Egoism Without Permission, she challenges a misconception about Rand’s ethics, namely that, because of its stress on reason, it...
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Selfishness of Soul?
Egoism Without Permission: The Moral Psychology of Ayn Rand’s Ethicsby Tara Smith, University of Pittsburgh Press, 2024, xi + 246 pp.Tara Smith, who teaches philosophy at the University of Texas at Austin, is a distinguished exponent of Ayn Rand’s Objectivist ethics, about which she has written several previous volumes. In Egoism Without Permission, she challenges a misconception about Rand’s ethics, namely that, because of its stress on reason, it...
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The Collapse of the Yen Carry Trade: Impending Recession?
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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What has the Fed Done to Our Lives?
[The following is derived from a speech in my novel, The Flight of the Barbarous Relic.]Wars must be funded, and for this, governments functioning as states call upon the banking system for assistance.Central Bank counterfeiting, which is another name for inflation, is the fuel that energizes the forces of war. Inflation, or counterfeiting, amounts to issuing receipts for something that doesn’t exist, which legally is the prerogative of the central...
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WSJ: Ukraine (with Zelensky’s Knowledge) Destroyed the Nordstream Pipeline
In September 26, 2022, seven months after the Russian invasion of Ukraine, saboteurs destroyed the Nordstream pipeline which was a major conduit of natural gas to Germany and western Europe. At the time, NATO personnel, the US regime, and the Ukraine regime all denied involvement, and all even implied that the Russians themselves had somehow been involved. The US media dutifully repeated Washington’s party line, repeatedly hinting that Putin had...
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Kamala Wants Price Controls, and It’s Not Because She Has “Good Intentions”
The Kamala Harris campaign announced today that it will present a plan to ban “price gouging” by food suppliers. In other words, the Harris campaign plans to mandate price controls.Get ready for rising prices and shortages in meat and other groceries, because that’s where laws against “price gouging”—which are price controls—lead. According to UPI: Vice President Kamala Harris will propose a federal ban on corporate food and groceries price...
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The EU and the Globalist Censorship of Speech on X
As I argued in October of 2022, Elon Musk’s takeover of Twitter (now X) would represent an important test case for the freedom of speech on social media against the globalist, woke, and totalitarian agenda for the censorship of “hate speech,” “misinformation,” and “disinformation.” In that essay, I also predicted that one of the main obstacles for free speech on X would be the Digital Services Act (DSA) of the European Union (EU), as administered...
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Money-Supply Growth Accelerates as Wall Street Demands Even More Easy Money
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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