Category Archive: 6b.) Mises.org

Filter archive by: Show All Show only Articles Show only Videos

Tyranny in the UK – Can it Happen Here?

2024-08-13

by

2024-08-13

As the UK descends into tyranny, where just re-Tweeting something the government doesn’t like can land a person a multi-year jail sentence, Americans are wondering, “can it happen here?” After all, we have the guarantees of the First Amendment.But while we shake our heads at UK authorities jailing people for their social media posts this past week, we should not kid ourselves. The answer is that silencing dissent can happen here and it is happening...

Read More »

Colonialism, Self-Determination, and Secession

2024-08-13

by

2024-08-13

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 »

What Ludwig von Mises Meant by “Democracy”

2024-08-13

by

2024-08-13

“Democracy” is one of those terms that is essentially useless unless the one using the word first defines his terms. After all, the term “democratic” can mean anything from small-scale direct democracy to the mega-elections we see in today’s huge constitutional states. Among the modern social-democratic Left, the term often just means “something I like.” The meaning of the term can also vary significantly from time to time and from place to place....

Read More »

Walter Williams and the Race Hustlers

2024-08-13

by

2024-08-13

In his book, Race & Economics: How Much Can Be Blamed on Discrimination? Walter Williams argues that socioeconomic outcomes are not determined by race.Williams’ argument has infuriated race hustlers — traders in identity politics — who promote the theory that all socioeconomic outcomes are determined by race. According to race hustlers, the only way for black people to advance is by seizing power and using it to wreak some form of revenge on...

Read More »

Why Do We Work?

2024-08-12

by

2024-08-12

Socialists are obsessed with eliminating the need to work. They contend that it amounts to coercion that is oppressive. However, they fail to understand the implications of what it means to choose to work and why working is a necessary part of life.Working in the context of a job refers to exchanging labor for money. Most jobs work on a voluntary basis where an employer and employee agree upon the nature of the work and wages to be paid. Such an...

Read More »

Does Printing Money Create Inflation?

2024-08-12

by

2024-08-12

The Libertarian Party candidate for governor of North Carolina posed this question on Twitter a few days ago:The question is poorly worded, but that is mainly the fault of the way the term “inflation” has fared in common parlance. Ross probably got the poll results he desired – he was trying to reinforce the idea that increasing the supply of money results in higher prices. The issue, however, is that those who understand that relationship are also...

Read More »

Self-Determination, Imperialism, and Secession

2024-08-12

by

2024-08-12

This article is adapted from a lecture presented on August 3, 2024 at Mises University 2024 in Auburn, Alabama. The full name of this talk is “Self-Determination, Imperialism, and Secession: 3 Sides of the Same Coin.” So, I abuse the metaphor a bit, be we might also say that self-determination and secession—and self-determination’s opposite, imperialism—are three ways of looking at the same object.The defense of self-determination is...

Read More »

Tax the Rich? Not a good idea

2024-08-12

by

2024-08-12

In the popular book “The Trading Game,” British author Gary Stevenson recounts his journey as a trader at a major U.S. bank in London. He has made lofty claims about his trading career and used it as a springboard for his successful YouTube channel, “Garys Economics.”A tailwind to his popularity is that he holds many fashionable views — for example, that money “is a token,” that printing money is akin to creating wealth, and that capitalism is the...

Read More »

Presenting the moral case for capitalism

2024-08-10

by

2024-08-10

There is a widespread perception that capitalism is a system designed to encourage greed, envy, selfishness, and other moral failings to flourish. Popular writing on capitalism, notably Ayn Rand’s “The Fountainhead” and “Atlas Shrugged,” recognizes the importance of addressing the moral case for capitalism. No economic system, no matter how efficient and productive, can flourish if it is widely regarded as the root of all evil. Given that the...

Read More »

Republicans declare war on the American economy

2024-08-10

by

2024-08-10

The 2024 Republican National Convention will be remembered for the raw emotions evoked by an attempted assassination the preceding weekend of its presidential nominee Donald Trump and for the now mostly Trumpified Republicans posing as the populist champions of American workers against the elitist Democrats.This convention, however, should be remembered for another reason too. It marks the entrenchment of an organized “national conservative”...

Read More »

Techno Unemployment

2024-08-10

by

2024-08-10

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 »

Recap of Mises University

2024-08-09

by

2024-08-09

Wow, what a week Mises University 2024 was! I have been a Mises University faculty member for over 30 years, and this—the 38th year of Mises U—may have been the best! Students came from 12 countries, 29 states, and 69 colleges and universities, including Yale and Princeton. The faculty, always outstanding, was truly inspiring and the students responded with great enthusiasm and endless questions.A true highlight of the week was the presentation by...

Read More »

What Does Say’s Law Really Say?

2024-08-09

by

2024-08-09

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 »

The myth of fair trade

2024-08-09

by

2024-08-09

Fair trade is an increasingly politically popular idea, and opponents of the free market see it as a moral way to fix market abuse. Proponents of fair trade argue that free trade favors developed countries or bigger corporations and that steps should be taken to correct the balance of power to ensure equitable outcomes. However, fair trade fails to work because of misplaced grievances toward the free market.The idea of fair trade rejects the free...

Read More »

The “unuseful” tautology

2024-08-09

by

2024-08-09

A tautology is a law of logic, part of a law of logic, or a definition. Some people do not think that tautologies tell us anything useful, pointing out that if someone inquires about the weather, to be told, “Either it’s raining or it’s not raining,” is not very helpful.Ludwig von Mises disagrees with this view. He would readily acknowledge that there are useless tautologies, but he suggests in Human Action that there are also useful tautologies....

Read More »

As the US dollar falls into ruin

2024-08-09

by

2024-08-09

Luke Gromen told Dale Pinkert on the Forex Analytics F.A.C.E. Show July 22nd that the U.S. went to China last fall and asked the Chinese to strengthen the yuan. The Chinese said if the United States wants a weaker dollar they need to let it go versus gold, implying that the gold market is influenced by the government’s hand.Pinkert, being a currency trader, expressed concern that the dollar could be devalued overnight by government fiat, and asked...

Read More »

Section 2.10: Remonetizing the Treasury’s Gold

2024-08-09

by

2024-08-09

Luke Gromen told Dale Pinkert on the Forex Analytics F.A.C.E. Show July 22nd that the U.S. went to China last fall and asked the Chinese to strengthen the yuan. The Chinese said if the United States wants a weaker dollar they need to let it go versus gold, implying that the gold market is influenced by the government’s hand.Pinkert, being a currency trader, expressed concern that the dollar could be devalued overnight by government fiat, and asked...

Read More »

The Federal Reserve Does Not Own Gold

2024-08-09

by

2024-08-09

Historically—especially during the days of the classical gold standard—central banks maintained stocks of gold to facilitate the conversion of gold-backed national currencies. Those days are long gone, but in modern times, many central banks continue to own gold, and many central banks buy gold as part of their open-market operations. For example, in his article last week—”Central banks purchase gold to offset their own money destruction“—Daniel...

Read More »

The Fed is warping the shape of the yield curve

2024-08-09

by

2024-08-09

Many commentators consider the spread between the long-term interest rate and the short-term interest rate as an important indicator to establish the future course of economic activity. An increase in the spread is seen as pointing toward good economic times ahead. Conversely, a declining spread raises the likelihood of an economic recession.Historically, in the U.S., the differential between the yield on the 10-year T-bill and the federal funds...

Read More »

Yankees vs. Cowboys: Rothbardian elite theory on Watergate

2024-08-09

by

2024-08-09

Editors note: The following article was published in July 1974 in The Libertarian Forum titled “One Heartbeat Away.” In it, Murray Rothbard provides elite theory analysis of Watergate after the selection of Nelson Rockefeller as Gerald Ford’s Vice President. While Rothbard’s fear of a Rockefeller presidency did not come to fruition, his post-political life included the creation of the Trilateral Commission which continued to have incredible...

Read More »