Economists consider probability to be central to economic analysis, but, as Ludwig von Mises wrote, economic action involves unique and purposeful events, not random ones.
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Category Archive: 6b.) Mises.org
The Scourge of Credentialism
The rise of the state led to the rise of credentialism, however, credentialism neither guarantees competence nor quality.
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Inflation: A Dirty Word for “Accommodation”
Inflation is a government tool used to confiscate wealth from ordinary citizens and transfer it to government agents and others who are politically connected. That most Americans believe inflation is caused by greedy business owners shows how successfully the government covers its tracks.
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Billionaires, Workers, and the Exploitation Theory
Bob revisits Böhm-Bawerk’s critique of the exploitation theory of interest to answer modern claims that billionaires like Elon Musk must have “stolen” their wealth from workers who supposedly create 100 percent of a firm’s value.
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Revenge of the Skyscraper Curse
With a record-height tower and a flooded credit system: 2026 may be when the curse returns.
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Grizzlies Need To Be Delisted Because They Keep Mauling Hunters
Grizzly bears are no where near being truly "endangered" yet they continue to receive federal protection.
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Reading Against the State: A Libertarian Guide to Critical Discourse Analysis
Every lover of liberty should have a good reading list that promotes freedom. At the same time, one should develop the discerning eye to recognize statist language and to reject it.
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The British North American Colonies Were Not Homogeneous Political Units
The original 13 British colonies that made up the early United States had very different populations with decidedly different political and social outlooks.
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More than one-quarter of upside-down trade-ins are $10,000 or more underwater.
Auto loan delinquencies are rising and the average amount owed on underwater trade-ins hit an all-time high of $7,214.
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The Goldberg Variations
In this week’s Friday Philosophy, Dr. David Gordon reviews Bruce Goldberg's Why Schools Fail and finds much to like. Not surprisingly, elite progressive “experts” have ruined education just as they have ruined just about everything else.
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The Bureaucratization of Science Is a Feature, Not a Bug
As Murray Rothbard warned decades ago, government-sponsored science is simply an extension of the bureaucracy used by the regime to force its policies on others. This is not an accident or anomaly; it is how government works.
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A Closer Look at John C. Calhoun
When it comes to the great political economist John C. Calhoun, most people love him or hate him. In this episode, economic historian Patrick Newman joins us to take a more balanced look at Calhoun, his origins as a War Hawk and nationalist, and why he was never a true Jeffersonian.
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Announcing a Special Issue of the QJAE
The Quarterly Journal of Austrian Economics invites submissions for a special issue commemorating the centennial of the founding of the Austrian Institute for Business Cycle Research, founded in 1927 by Mises and directed by Hayek. Guest editors are Per Bylund and Jonathan Newman.
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Keynes’s Intellectual Dishonesty and Chartalism
A. Mitchell Innes—a chartalist pioneer—wrote a pamphlet “What Is Money?” (1913) which found a credulous and ideologically sympathetic audience in J. M. Keynes.
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Dr. Peter Klein on International Law and “Might Makes Right”
Bob talks with Dr. Peter Klein about the recent U.S. operation in Venezuela and the social-media backlash against “international law,” using it as a springboard to clarify what law is, how it can exist without a world government, and why Austrians care about polycentric legal orders.
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Defense Services on the Free Market
"A truly free market is totally incompatible with the existence of a State, an institution that presumes to 'defend' person and property by itself subsisting on the unilateral coercion against private property known as taxation."
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Bait-and-Switch: Victims of the LA Wildfires Find That Local Government Wants Them Gone
People who lost their homes last year in the LA wildfires are finding government roadblocks to rebuilding, due to systems put in place by progressives. And nothing will change.
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On Swiss National Bank
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SNB’s Chairman Schlegel: A few months of negative inflation wouldn’t be a problem
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SNB Sight Deposits: decreased by 3.6 billion francs compared to the previous week
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2025-07-31 – Interim results of the Swiss National Bank as at 30 June 2025
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SNB Brings Back Zero Percent Interest Rates
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Hold-up sur l’eau potable (2/2) : la supercherie de « l’hydrogène vert ». Par Vincent Held
Main SNB Background Info
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