“…boom and bust cycles are caused—not by the mysterious workings of the capitalist system—but by governmental interventions in that system.” — Murray RothbardAnother way to put it is that the primary cause of what you call a recession is central banking, specifically due to their inflationism and underwriting of fractional reserve banking. If you think that inflation is the product of greedy merchants or the animal spirits, or an economy that is...
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Category Archive: 6b) Austrian Economics
¿POR QUÉ UN DEMÓCRATA DEBERÍA VOTAR A TRUMP?
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Who Sets the Prices for Goods?
Individuals are often presented as if a value scale is hard-wired in their heads. Allegedly, this value scale remains the same all the time. As a result, this value scale supposedly instructs individuals in the selection of goods. Were that the case, then it makes sense to attempt to extract this value scale either by means of questionnaires or various psychological tests. Once the value scale is extracted, social scientists could establish how to...
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LA FED Y EL BCE EN PÁNICO POR EL BITCOIN
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Rothbard and the Israeli-Palestinian Conflict
In Murray Rothbard’s thinking, the state is a criminal organization of aggression and depredation against the just rights of private property of its subjects. The state acquires its revenue by physical coercion (taxation) and achieves a compulsory monopoly of force and ultimate decision-making power over a given territory. Hence, there is no just state in Rothbard’s libertarianism.The State of IsraelIn 1948, within the boundaries of what was then...
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Four Years of Biden’s Foreign Policy Failures
In around three months’ time, the Biden administration will be out of office. Exits typically prompt reflection. For an outgoing administration, the chief task is to shape the narrative. Secretary of State Antony Blinken’s recent legacy-molding foray grounds the Biden administration’s legacy in the “fierce competition” with the “revisionist powers”—Russia, Iran, North Korea, and China—who want to bring down America and dominate the international...
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More Federal Environmental Regs Won’t Fix the Immigration Problem
Immigration, particularly by illegal aliens at the southern US border, is a contentious issue in 21st century America. Federal Reserve Chairman Jerome Powell has expressed concern about immigration’s probable impact on the unemployment rate. Homebuyers and renters are concerned about its impact on house prices and rents. Law enforcement questions its impact on crime rates. School districts are concerned about increased immigrant student enrollment...
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Was Ricardo’s Comparative Advantage Really Different From What Adam Smith Said About Foreign Trade?
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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Prohibition: The Sword of the State
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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Does Mass Immigration Adversely Impact the Natural Environment?
Immigration, particularly by illegal aliens at the southern US border, is a contentious issue in 21st century America. Federal Reserve Chairman Jerome Powell has expressed concern about immigration’s probable impact on the unemployment rate. Homebuyers and renters are concerned about its impact on house prices and rents. Law enforcement questions its impact on crime rates. School districts are concerned about increased immigrant student enrollment...
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Blinken’s Blinkers—Four Years of Biden Foreign Policy Failure
In around three months’ time, the Biden administration will be out of office. Exits typically prompt reflection. For an outgoing administration, the chief task is to shape the narrative. Secretary of State Antony Blinken’s recent legacy-molding foray grounds the Biden administration’s legacy in the “fierce competition” with the “revisionist powers”—Russia, Iran, North Korea, and China—who want to bring down America and dominate the international...
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The American Economy Is in Trouble
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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It’s Good to Be Skeptical of Elections
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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KAMALA HARRIS HACE EL RIDÍCULO CON LA MARIHUANA
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The Political Theology That Maintains State Power
For religions throughout the world, established rules, studies, and practices are instrumental for their legitimacy. Established religious institutions throughout the world train theologians to study the nature of God and their belief system. For the Sunni Muslims, theologians in the Hanafi school consist of legal studies in line with Islam, while others like the Murji’ah sect focus on moral teachings of work and faith. Catholics too prescribe...
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This Technology Will Change Aging Forever | Patrick Cox
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Don’t Knock Nock
Albert Jay Nock’s Our Enemy the State, which was published nearly ninety years ago in 1935, had a great influence on Murray Rothbard, transmitted though his friend and mentor Frank Chodorov, who was Nock’s main follower. The book is rich in insights, some of which I have discussed in a forthcoming review for The Misesian, but there are many more. In what follows, I’ll comment on some of these.Nock distinguishes two ways in which people in a...
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Venezuelan Gangs, Affordable Housing, and Bad Policy
For years I have held up Venezuela in my economics classes as an example of bad government policy. Now it appears that the fallout from those policies has led to more crime being exported to cities across the US. Perhaps unsurprisingly, due to our proximity to the border, San Antonio is one of those cities.SAPD, along with “multiple state and federal agencies,” arrested several people in a northside apartment complex last weekend on suspicions of...
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Warum ist Dubai perfekt für Investments, Steuern, Auslandskonten und Lifestyle?
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On Swiss National Bank
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SNB Sight Deposits: decreased by 5.7 billion francs compared to the previous week
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SNB’s Chairman Schlegel: A few months of negative inflation wouldn’t be a problem
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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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