Category Archive: 6b.) Mises.org

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The World at War—An Essential New Book from Ralph Raico

2024-12-09

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2024-12-09

This article is the foreword to The World at War by Ralph Raico, edited and annotated by Edward Fuller. Buy the book at the Mises store. The twentieth century was a century of war, which means it was also a century of tragedy. The full extent of this tragedy, however, is often hidden by the popular narratives of the world wars that continue to be pushed in the West, especially among Americans. But many aspects of the tragedy are also taught far and...

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Minimum Wage Laws Can’t Repeal the Laws of Economics

2024-12-08

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2024-12-08

On April 1, 2024 California bill AB 1228 went into effect, raising the minimum wage to $20 an hour for fast food restaurant workers. The media pundits largely celebrated the bill’s boldness. Economists and industry insiders largely complained it would raise prices, lower employment, and maybe even radically diminish a convenient and beloved fixture in American society.A new study from the Institute for Research on Labor and Employment at UC...

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Federal Power and Statist Racecraft

2024-12-07

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2024-12-07

There will never come a time when all human beings are in full ideological agreement, which is why free speech is of paramount importance to peaceful co-existence. Free speech is the only foundation on which men who disagree with each other can debate their opposing ideologies, or even hurl insults at each other if so inclined, but ultimately all the protagonists can do is try to persuade each other. All this changes when the state gets involved...

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Atomic Salvation: Did the Atom Bombs Save 500,000 to 32 Million Lives?

2024-12-07

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2024-12-07

“I wanted to save a half million boys on our side.... I never lost any sleep over my decision.”—Harry Truman, (quoted in Alfred Steinberg, The Man From Missouri (New York, 1962), p. 259)It is estimated that there were 416,480 American military deaths in WWII. Thus, what we are invited to believe by Truman’s assertion that the atomic bombs saved 500,000 (or many more) American lives is that, had the US invaded Japan, more Americans would have died...

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Fiscal Folly

2024-12-07

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2024-12-07

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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David Glasner on the Sraffa-Hayek Debate

2024-12-07

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2024-12-07

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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Paul Krugman Rides into the Sunset

2024-12-07

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2024-12-07

After spending 25 years as a columnist for the New York Times, Paul Krugman is finally retiring from that position—25 years too late, if one wishes to be honest. It is hard to measure the influence he had from that perch, but his columns surely were the deciding factor in his winning the Nobel in economics in 2008 after eight years of lambasting the George W. Bush administration.(His Nobel Prize was given, ostensibly, for “his work in economic...

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The Secret Passage: How Amzalak and Salazar Helped Ludwig von Mises Escape the Nazis

2024-12-06

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2024-12-06

World War II was marked by the persecution and forced displacement of millions of people. Among them was Ludwig von Mises, one of the most brilliant minds in economics, whose ideas challenged the growing totalitarianism in Europe. Although there are few written records of his escape from Europe, this article provides several previously unpublished details, based on rare and never-before-published documents.These documents—discovered in Swiss and...

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Self-Described “Austrian” Is New Leader of UK Conservative Party: Should Kemi Badenoch Give Us Hope?

2024-12-06

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2024-12-06

Following their overwhelming defeat in the July 2024 general election, Britain’s Conservative Party recently elected Kemi Badenoch as its newest leader, meaning that she would become Prime Minister if the Conservatives win the next general election. It would be an exaggeration to describe Badenoch as a completely unknown political figure, but as a relatively early-career politician—she is 44 years old, was first elected to Parliament in 2017, and...

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Why Pete Hegseth Might Not Get Confirmed as Secretary of Defense

2024-12-06

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2024-12-06

[Editor’s note: Trump’s nominee for Secretary of Defense, Pete Hegseth, has faced some significant opposition to his nomination in the US Senate. His nomination is by no means assured, although his opponents have offered few specifics as to why they oppose Hegseth’s nomination. Much criticism has come in the form of Hegseth’s personal habits, but it is unlikely this is the real potential deal breaker. Given that Hegseth has extensive experience...

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Marx’s Misanthropy

2024-12-06

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2024-12-06

After the Cold War ended, many people thought that communism was a dead issue, and fashionable pundits like Francis Fukuyama claimed that we were witnessing the global triumph of liberal capitalism. But communism, in fact, never went away, and in these days we have witnessed its revival with, for example, the Marxist policies advocated by Kamala Harris. It is essential in these circumstances to be reminded of communism’s grim record. And who better...

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Marxmanship

2024-12-06

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2024-12-06

After the Cold War ended, many people thought that communism was a dead issue, and fashionable pundits like Francis Fukuyama claimed that we were witnessing the global triumph of liberal capitalism. But communism, in fact, never went away, and in these days we have witnessed its revival with, for example, the Marxist policies advocated by Kamala Harris. It is essential in these circumstances to be reminded of communism’s grim record. And who better...

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Employed Workers Dwindle and Full-Time Jobs Fall as the Fed Readies More Easy Money

2024-12-06

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2024-12-06

According to today’s report from the federal government’s Bureau of Labor Statistics, the US economy added 227,000 payroll jobs during November, according to the establishment survey. The unemployment rate rose slightly to 4.2 percent. This follows October’s jobs report which was the weakest since 2020. In October, private-sector employment fell month-over-month by 2,000 jobs.So, many media outlets described this latest report as a “rebound” or...

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What Has Government Done to Our Money?

2024-12-05

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2024-12-05

The Mises Institute is currently in a campaign to distribute copies of Rothbard’s What has government done to our money. You can order free copies from the front page of Mises.org.Hello and welcome to another episode of the Minor Issues podcast. I’m Mark Thornton coming to you from the Mises Institute. Please like, share, and subscribe. Thank you.In What Has Government Done to Our Money?, Murray Rothbard changes your whole view of the world, not...

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Slash Military Spending: “Defense” Budgets are Bigger than Ever Before

2024-12-05

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2024-12-05

It should go without saying that asking generals and other Pentagon bureaucrats about defense spending is like asking your barber if you need a haircut. They are hardly disinterested observers. So, it’s not surprising at all that the usual pentagon uniformed technocrats, after failing their audit for the seventh time in a row, remain unrepentant. Last month, after failing to provide documentation showing the Pentagon actually knows what it does...

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Prices Are Not Measurements of Value

2024-12-05

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2024-12-05

With a few exceptions, several epistemological procedures in the science of economics are heavily swayed by the gale force of empiricism or logical positivism. Consequently, we increasingly find the science of economics compartmentalized into various methodological schools which, to various degrees, are keen on importing the methods of the natural sciences at the expense of the actual task of economics.Within economics, there are entrenched...

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Trump Faces a Mess of an Economy

2024-12-05

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2024-12-05

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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There Is No Appetite for Fed Reform in Washington

2024-12-05

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2024-12-05

Today in Politico, finance reporter Victoria Guida takes a look at the prospects for any meaningful reform that might rein in the Fed’s runaway powers that have expanded far beyond its historical remit in recent years.It seems the prospects are not good. For starters, the president-elect has no interest at all in having the Fed do less. As president, Trump has only ever called for lower interest rates, which means he always favored a more activist...

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Elon Musk and The Grace Commission Report

2024-12-05

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2024-12-05

Elon Musk—of Tesla, SpaceX, and X fame—will be tasked by incoming President-elect Donald Trump to review federal government efficiency with the intent to cut federal spending, reform existing programs, possible shutdown of federal agencies, etc. Elon should be encouraged to study a herculean report done in the first term of President Ronald Reagan called The President’s Private Sector Survey on Cost Control, also called the President’s Private...

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The FBI Has Been Political from the Start

2024-12-05

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2024-12-05

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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