The decayed and degraded state of German infrastructure has prompted Eric Gujer to publish an opinion piece in the Neue Zürcher Zeitung (NZZ) in which he advocates for a compromise between conservatives (increase the debt limit and thereby free up funds for renovations), progressives (reform social spending), and the government (reduce subsidies). Should Germany fail to manifest the collective willpower necessary to bring about such a political...
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Category Archive: 6b) Austrian Economics
LA HIPOCRESÍA DE LA POLÍTICA ENERGÉTICA
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Real Democracy Can Only Be Freedom
With the advent of representative democracy over a century ago in most of the West, the popular belief was that the “rule of the few” would be relegated to the dustbin of history. This never happened, of course, as has become clearer to the “many” over the decades. Indeed, the ruling Western oligarchy has become more visible than before, too brazen in its attempts to ram through its globalist agenda on the world.The illusion of representative...
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Dred Scott, Politics, and the “Living” Constitution
In a 2022 article titled “Will the U.S. Supreme Court ever get around to overruling the shame of Dred Scott?” the surprising proposition is advanced that the1857 Dred Scott case is “still precedent” in the United States, and that “racist lawyers and racist judges can (blatantly or discreetly) rely on it in their arguments and rulings.” Like President Biden’s Antilynching Act of 2021, we are asked to believe that the injustices of past centuries are...
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MILEI BAJARÁ EL 90% DE LOS IMPUESTOS EN 2025
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2025’s Federal Deficit May Be the Biggest Ever
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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Trump’s Economic Policies: The Good, The Bad, and the Uncertain
The US economy is ultimately driven by millions of people working hard to create and trade goods and services, but the US federal government can impact the economy in three main ways: 2) fiscal and regulatory policy: impacts production and who benefits and loses; 2) foreign policy and war: impacts production, life, and quality of life; and, 3) monetary policy: impacts inflation/deflation and boom-bust cycles.The key lesson of economic science was...
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The US Is Now on Track for a $3.5 Trillion Deficit in 2025
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Slavery—Cronyism, Opportunity Cost, & Deadweight Loss
Slavery has existed throughout history in all places and cultures. In fact, while the American South dubbed it the “peculiar institution,” historically, voluntary-free labor is the true peculiar institution. Slave labor was not originally introduced by the political state yet, as with many things, slavery could not have had the scope or extent that it did in human history absent the coercive apparatus of the political state to uphold it. Through...
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The Missing Secret
Princeton University Press released in September a new English translation of the first volume of Marx’s Capital. The editors, Paul Reitter and Paul North, tell us that the new translation is the product of five years’ labor. In this week’s column, I’d like to ask what I am sure they would regard as an impertinent question. Why have they bothered? Why do we need a new English translation of the first volume?They acknowledge that there are excellent...
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What’s More “Wicked” than the Crime of ’73?
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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The Jacobin Origins of Nationalism
It is a worthwhile project to examine, detail, and prove the leftist nature of nationalism, its core aspects, its history, and the effect it has played in history. This article will be about the beginning of nationalism and on exactly which group created it. It seeks to demonstrate that there is no such thing as leftist nationalism since all nationalism is leftist by nature.Origins of NationalismIn the modern political context, many associate...
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Why Does Government Always Make the Same Economic Mistakes?
Most economic analysts predict that the US is about to enter into a cyclical recession. Even Austrian School economists (like me) agree. The big question is, “What will government do?” Will it finally stop its fruitless interventions, such as trying to drive down the interest rate via inflation in the face of unprecedented budget deficits?Look to Past ActionsTom Fitton, CEO of Judicial Watch, answered this question (regarding another matter) during...
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TRUMP ARRASA EN SU ENTREVISTA MÁS IMPORTANTE
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EL MERCADO DEL PETRÓLEO PIERDE RELEVANCIA
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Stakeholder Capitalism and the Corporate KPI Cult
In private business “[t]here is no need to limit the discretion of subordinates by any rules or regulations other than that underlying all business activities, namely, to render their operations profitable.”—Ludwig von Mises, Bureaucracy, p. 46In this quote from his classic 1944 book Bureaucracy, Mises explains why private, for-profit businesses need not, and should not, be bureaucratic and entangled in rules and regulations mandated from the top...
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Economists and the State: From Enemies to Friends
Economists and the state are natural enemies. The central principle of economics is that the means for improving human well-being—what economists call “goods”—are naturally scarce and must be produced before they can be used to satisfy human wants. The scarcity principle also implies that, once produced, goods cannot be bestowed on one person without depriving some other person or persons of their use. In other words, there is no such thing as a...
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The Misesian, vol. 1, no. 6, 2024
Another national election has come and gone, and like many of our readers, I think the less awful candidate won. After all, a victory for Kamala Harris was likely to be interpreted as an endorsement of the status quo and a “mandate” for more of the same.Unfortunately, though, opposition to the status quo is not the same thing as support for peace, freedom, or free markets. Dissatisfaction with the regime is good, but it’s not enough. We will see...
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Nock’s Enemy, the State
Our Enemy, the Stateby Albert Jay Nock This year the theme of the Institute’s Supporters Summit was “Our Enemy, the State.” What better book review for this issue of The Misesian, then, than a discussion of Albert Jay Nock’s Our Enemy, the State, first published in 1935? In what follows, I’ll talk about some of the insights in that book.Nock draws a distinction between the state and society, though sometimes he describes this distinction as between...
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The Second Trump Term and the “Sanctions Industrial Complex”
As the Washington drawbridge lowers for a second Trump administration, the world attempts to glean any insights that might indicate the direction of his second term. At the top of the list of concerns is the topic of sanctions.As of 2024, the US is actively sanctioning a third of all nations on earth. As the American populace grew more wary of military entanglements and forever wars, consecutive administrations have exponentially escalated the use...
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On Swiss National Bank
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USD/CHF posts modest gains to near 0.9000 in thin holiday trading
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Forex Today: Markets quiet down as Christmas approaches
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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
Main SNB Background Info
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