Category Archive: 6b.) Mises.org

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Is the US Banking System a House of Cards Waiting to Topple?

2023-08-31

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2023-08-31

It’s the deposits. Bankers never used to worry about the money customers left in their banks. When deposited, the money was lent out while depositors could come and get their money anytime if it was a demand deposit. Thus, the depositor and the borrower had the use of the same money at the same time. Murray Rothbard called it fraud. Now it’s 2023 and Scott Hildenbrand, the chief balance sheet strategist at Piper Sandler, tells Joe Weisenthal and...

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Economic Calculation Is Nonbinary

2023-08-31

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2023-08-31

Economic calculation is not an either-or proposition. Even in so-called market economies like that of the USA, there is plenty of government intervention that distorts market processes. Original Article: "Economic Calculation Is Nonbinary"

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Does Technical Knowledge Always Lead to Economic Growth?

2023-08-31

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2023-08-31

Many economists believe that technical knowledge is the key to economic growth. If this is the case, why do third world economies continue to experience poverty, since these economies can access the same technical knowledge as the developed world? Therefore, technical knowledge being the key to economic growth is not the case as economic growth depends upon the pool of consumer goods. Pooling Consumption Goods To maintain life and well-being, man...

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Javier Milei Is Not a Problem for Argentina. Socialism Is.

2023-08-31

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2023-08-31

Argentina’s problem is not Milei. The Central Bank of Argentina does not have to devalue the peso due to the victory of Javier Milei in the primaries. The Central Bank of Argentina and the Peronist government have been devaluing the peso and sinking the currency for years. It must devalue because the central bank has run out of reserves. Argentina is not facing an “anti-system” or “far-right” threat. They already have a far-left and anti-system...

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Ranking the GOP Debaters on Foreign Policy

2023-08-30

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2023-08-30

Ryan and Zachary rank the GOP candidates at the debate. They range from "least terrible" (Ramaswamy) to "utterly awful" (Haley and Pence).  Be sure to follow War, Economy, and State at Mises.org/WES.

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What Is the Right Inflation Target for Central Banks?

2023-08-30

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2023-08-30

The "2 percent" inflation target is purely arbitrary, and mainstream economists can't agree on the "right" level. It's all folly, and Austrian economics explains why.  Original Article: "What Is the Right Inflation Target for Central Banks?"

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Mises University 2024

2023-08-30

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2023-08-30

Mises University is open only to scholarship students and invited donors. If you have any questions, please contact Felicia Jones ([email protected]).  Austrian Economics Rooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian school offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice. More than a...

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“Debanking”: The Latest Assault on Freedom of Speech

2023-08-30

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2023-08-30

Threats to freedom of speech and efforts to suppress dissenting views and voices have been on the rise over the past decades. They were exponentially intensified since the ascent of social media, and as the political polarization in the West truly took hold of our societies, the powers that be have been using any and all tools at their disposal to “defend” the interests of the establishment against those who might try to publicly question its...

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Flying into Foolishness: The DOJ “Saves” Consumers from Low-Cost Airlines

2023-08-30

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2023-08-30

The DOJ claims that it has "protected" consumers by standing in the way of a partnership between JetBlue and American Airlines. The only thing the DOJ protected was higher-cost flying. Original Article: "Flying into Foolishness: The DOJ "Saves" Consumers from Low-Cost Airlines"

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The Unwelcome Return of Covid Restrictions and Lockdowns

2023-08-30

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2023-08-30

Covid restrictions are back. Almost a year after President Joe Biden said “the pandemic is over,” several hospitals, businesses, and universities have reinstated mask mandates and social distancing requirements. Meanwhile, nearly sixty universities have announced that students must take a covid vaccine to attend for the fall 2023 semester. Although these restrictions are still limited to only a handful of organizations, their implementation...

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Real Progress versus the Progressives

2023-08-29

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2023-08-29

Progressives have distinguished themselves in the past half century by being against progress. That trend is unlikely to change. Original Article: "Real Progress versus the Progressives"

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The New Socialism Is a Public-Private Partnership

2023-08-29

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2023-08-29

In 1990, socialism seemed to be done once and for all, but the times have changed. In the last twenty years, socialism has again become fashionable beyond the academic fringes. The covid-19 crisis demonstrated how quickly and thoroughly the traditionally free societies of the West may be transformed by small groups of determined and well-coordinated decisionmakers. Top-down central planning of all aspects of human life is today not merely a...

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Rothbard on the Ukraine War

2023-08-29

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2023-08-29

My title seems odd. How could Murray Rothbard comment on the Ukraine War, when he died in 1995? Of course, he can’t comment on current events. But the principles this great thinker wrote about tell us what he would say about today’s American foreign policy. He would tell us to stop sending money and arms to the Ukraine and to end all sanctions against Russia. What goes on in that region is none of our business. Getting involved risks a nuclear war...

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Is China Colonizing Jamaica?

2023-08-29

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2023-08-29

The Chinese have been in Jamaica since the nineteenth century. After emancipation, planters felt that newly freed blacks would be unwilling to toil on plantations, and the exodus of ex-slaves from plantations confirmed their suspicions. So to fill labor gaps, planters resorted to importing workers. Therefore, a formal indentureship scheme was introduced to lure workers from Asia and Africa. The Chinese entered Jamaican society in 1854 as lowly...

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Do Monopolies Cause Inflation?

2023-08-29

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2023-08-29

Too many economic commentators claim that monopolies are the cause of inflation. Austrian economic analysis shows that this is impossible. Original Article: "Do Monopolies Cause Inflation?"

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The Chinese Economy: Market Socialism with Chinese Characteristics

2023-08-29

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2023-08-29

In recent decades, the Chinese Communist Party (CCP) has boasted about having lifted hundreds of millions of people out of poverty; however, they were only able to do this because hundreds of millions of people had been living in poverty under its rule. From the founding of the People’s Republic of China (PRC) in 1949 until the economic reforms of the late 1970s, the country’s economy was almost entirely centrally planned. The government controlled...

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Why Governments Love Political “Crimes” Like Treason and Sedition

2023-08-28

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2023-08-28

In a free society, political crimes like treason and "seditious libel" are few and far between. Under despotic regimes, on the other hand, political crimes multiply.  Original Article: "Why Governments Love Political "Crimes" Like Treason and Sedition"

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The State as Modern-Day Superstition: Unraveling the Illusions of Authority

2023-08-28

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2023-08-28

Without the erroneous public perception and judgment of the state as just and necessary and without the public’s voluntary cooperation, even the seemingly most powerful government would implode and its powers evaporate. Thus liberated, we would regain our right to self-defense and be able to turn to freed and unregulated insurance agencies for efficient professional assistance in all matters of protection and conflict resolution. —Hans-Hermann...

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How the Soviets Used Common Criminals to Destroy the Regime’s Enemies

2023-08-28

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2023-08-28

In the Gulag, political prisoners were systematically terrorized by ordinary criminals with the encouragement of the authorities. It was hoped this would help the regime liquidate the state's ideological enemies.  Original Article: "How the Soviets Used Common Criminals to Destroy the Regime's Enemies"

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America’s Big Three Entitlement Bankruptcies Are Inevitable

2023-08-28

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2023-08-28

America’s federally sanctioned entitlement programs, Medicare, Medicaid, and Social Security, each face bankruptcy in the next few years. Medicare and Medicaid were created in 1965 as part of President Lyndon Johnson’s Great Society legislation. Social Security was created in 1935 to provide retirement income for Americans who reached the age of sixty-five. These three entitlement programs consume about fifty cents of every federal budget dollar,...

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