The city of San Antonio’s Status on Poverty Report was released recently, and the response was predictable. “I just want . . . some sort of an action plan.” Council should “better direct” taxpayer dollars “toward helping all San Antonians thrive.”If officials had a decent grasp of history, they’d know the likely outcomes from such efforts: more of the same.Poverty is the natural, initial state. Society wasn’t just born into affluence; it had to be...
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Category Archive: 6b.) Mises.org
Renato Moicano: “If You Care About Your…Country, Read Ludwig von Mises.”
Last night, Brazilian fighter Renato Moicano went viral after his victory over JalinTurner at UFC 300, giving a shout-out to Ludwig von Mises himself.'I love America, I love the Constitution...I want to carry...guns. I love private property. Let If you something. If you care about your...country, read Ludwig von Mises and the six lessons of the Austrian economic school.The full clip is available here, with some colorful adult language...
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The Myth of the Equilibrium Interest Rate
“Fast thinking” is a corrupting short-cut in mental processes which the late Daniel Kahneman identified by experiments in financial decision-making. Fast thinking plagues the market-place as it responds to the new threat of responses to Fed-led inflation. That threat had emerged even before the post-pandemic inflation starting in late 2022 cooled from its peak levels. The most recent surge in prices had materialized even though its symptoms in...
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The Lords of Easy Money, The Price of Time and Austrian Business Cycle Theory
Two books have recently been published on post-2007-2008 financial crisis history. The first is The Lords of Easy Money: How the Federal Reserve Broke the American Economy by Christopher Leonard and it is my favorite of the two. Mr. Leonard describes the post-crisis financial environment extremely well in a way that is consistent with Austrian Business Cycle Theory (ABCT) without naming it. I expected this as the author is a journalist writing for...
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The Hazards of “Colorblind Equality”
The words of Lewis Carroll are often cited in reference to the culture wars and the redefinition of words whose meaning used to be regarded as plain.“When I use a word,” Humpty Dumpty said in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.”“The question is,” said Alice, “whether you can make words mean so many different things.”“The question is,” said Humpty Dumpty, “which is to be master—that’s all.”This is...
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Disappointing News
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Simon Guenzl vs. Dave Smith on Open Borders
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Why Politicians and Bureaucrats Choose Politics over Sound Economics
We are taught from a very young age; “Government works for you”, or “the Government is the embodiment of the populous.” We accept these slogans blindly and carry on day to day. However, reality does not match up with these catch phrases. This is painfully clear when looking at the incentives that face these officeholders. After examining just a few, it’s clear we ought to adopt slogans that align with reality like, “the Government works for...
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The Non-Austrian Theory of the Nonbusiness Cycle
The Prophets of Doomby Neema ParviniImprint Academic, 2023; 227 pp.It was to be expected that Neema Parvini would give us an excellent book, and he has not disappointed us. Parvini is an outstanding Shakespeare critic and has written an important book on property rights, The Defenders of Liberty. In The Prophets of Doom, he discusses with marvelous concision a number of thinkers who have rejected the notion of universal historical progress,...
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Savor the Taste of Independence, Grow Your Own!
Growing your own tomatoes can be rewarding far beyond the sweet taste of your crop.The traditional extra benefits keep bringing many of us back season after season. If you’re a gardener, you know the great feeling of acting directly on nature to produce the food you eat. Raising tomatoes gets you outside and sweating, and usually provides a sense of accomplishment. It encourages discipline and planning and demands a bit of knowledge and a ton of...
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Milei Tries to Tackle Rent Control in Argentina
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The Population Explosion Disaster that Never Happened
I do not hear much talk about world population these days, the way I did growing up in the 1960s and ’70s. People were supposedly starving, dying, with tens of millions more sure to die. The problem back then was that there were just too many, well, people.Population numbers coming out of China and India were unthinkable, and projections indicated many more people were going to be born into this dire situation. There were over twenty thousand...
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On 100-Percent Reserves, Milei, and Argentina
Unsurprisingly, Javier Milei´s monetary reform plans are discussed intensively in libertarian circles. For the first time, a real libertarian reform of the monetary and financial system is in sight. One of the main issues of contentions is Milei´s plan to introduce a 100% reserve banking system. Such a move would be truly revolutionary. The Argentinian banking system would be sound and stable. Harmful credit expansion would be ruled out....
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Unmasking Democracy: A Moral Virtue or a Flawed Tool?
This year, more than sixty countries will hold or have already held elections; a quarter of the population will participate in democracy. Most people in the free world would consider that a victory for liberalism (“liberalism” in the traditional meaning of the word, not the corrupted definition used in the United States). Democracy is often staged as the epitome of freedom and prosperity, a noble system where the voices of the people not only reign...
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Trump Is Right about Abortion and Lindsey Graham Is Wrong
Donald Trump last week said he opposes any national legislation on abortion, and said he supports state governments adopting their own policies. According to USA Today: "Former President Donald Trump said individual states should choose their own abortion restrictions, avoiding talk of any kind of federal government ban and drawing criticism from Democrats and anti-abortion Republicans alike on a pivotal election issue. ...At the end of the...
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Why Libertarianism Is Flourishing in Polish Universities
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Summer 2024 Virtual Mises Book Club
In June 2024, the Mises Institute will hold its next Mises Book Club, a program that promotes deep reading in Austrian economics.The reading for this book club will be one of Ludwig von Mises's most popular works: Economic Policy: Thoughts for Today and Tomorrow. This year marks the 45th anniversary of its publication.This work is one of the best introductions to the ideas of Ludwig von Mises. It is based on six lectures he gave in 1959, covering a...
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The Siren Song of Equality
The “racial equality” debates are characterized by evolving concepts and terminology in a constant search for better ways to express the ideals and values of the protagonists. The mantras of “diversity, equity, and inclusion” (DEI) are now under increasing attack as several states move to ban DEI programs. In search of an alternative conceptual foundation for their equality schemes, many liberals (both progressive and conservative) who wish to...
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Finklestein’s Folly: How Not to Discredit One’s Opponents
The ongoing Israeli-Palestine conflict continues to captivate podcasters and listeners. So, Lex Friedman tapped into this interest by assembling a panel of experts to debate the issue. However, his decision to invite online personality Destiny as a commentator to defend Israel elicited criticisms, as Destiny is a college dropout who was parachuted to fame as a videogame streamer before becoming a political commentator.Since then, he has established...
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“Desire Paths” and the Problem with Central Planning
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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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