Innovation Requires Economic Freedom

[Excerpted from chapter 16 of Theory and History (1957).] A civilization is the product of a definite worldview, and its philosophy manifests itself in each of its accomplishments. The artifacts produced by men may be called material. But the methods resorted to in the arrangement of production activities are mental, […]

Capitalism Means Less Waste — Because More Waste Often Means Less Profit

In “How Capitalists Created a “War on Waste”,” Chris Calton did an excellent job of laying out how the “profit motive encourages the natural reduction of waste,” without requiring government coercion. Selling part of the output of a productive process that would otherwise be thrown away or require costly disposal […]

Does China Have Enough Gold to Move Toward Hard Currency?

Are the Chinese Keynesian? We can be reasonably certain that Chinese government officials approaching middle age have been heavily westernised through their education. Nowhere is this likely to matter more than in the fields of finance and economics. In these disciplines there is perhaps a division between them and the […]

A White House Press Pass Has Nothing to do with the First Amendment

A federal judge today ruled the White House must temporarily re-instate the press pass of CNN reporter Jim Acosta’s, who had been barred after an argument with Donald Trump in the press room. The judge ruled the White House had violated due process by banning Acosta. CNN, however, had requested […]

Michael Boldin on the Reality of Secession

The midterm elections failed to produce an overwhelming Blue Wave, and political rancor in the US remains feverishly high. Now an astonishing new article in The Intelligencer considers the idea of a “federated” America, broken up into several political entities associated via compacts. It’s not a dystopian view of a […]

The Freedom Crisis

[This talk was delivered at the Mises Institute’s 2018 Ron Paul-Mises Circle In Lake Jackson, Texas.] There is a crisis, and only you, and people like you, can get us out of it. What is this crisis? On the one hand, the statist order is collapsing all around us. America […]

Why Politicians Love Deals like the Amazon Deals

Amazon isn’t the first big corporation to manipulate policymakers by shopping around the idea of relocating its headquarter to the “right” city. The “right” city, of course, is the one that provides the company with enough tax breaks and other political favors so as to make the move worth it. […]

It’s Not a Problem When the Chinese Don’t Spend Their Dollars Here

What if you found out that the Chinese are burying dollars under the Great Wall of China? What would your reaction be? Would you be upset that the Chinese weren’t spending those dollars on U. S. exports, narrowing Americans’ balance of trade deficit with China? Judging by the anti-Chinese sentiment […]

When Currency Crashes There’s No #metoo — You Do What You Have to Do

The New York Times reminded us that two things which go together are a currency crisis and prostitution. The featured story on October 28 was the red light district in uber-depressed Athens where “Dimitra, a middle-aged woman who lost her [flower] shop in the crisis and now works as a […]

Sheriff Tries to Clean Up Government

By: Mark Thornton In an attempt to “clean up” government the sheriff of tiny Marshall Country, Alabama (pop. 97,000) ordered 22,000 rolls of toilet paper and 450 cases or trash bags. No word if this was an accident or if it was an attempt to bankrupt the county.   Powered […]

Free Will and the Market Place

Free will is the starting point of all ethical thinking and it plays an equally important part in the business of making a living. If man were not endowed with this capacity for making choices, he could not be held accountable for his behavior, any more than could a fish […]

The Economic Basis of Culture

[From the 2006 Commerce and Culture Seminar, presented by Paul Cantor.] Now that Marxists have lost the economic arguments, culture is now the last battleground between Marxism and free markets. Marxists say mass production of anything ruins it. But this is elitist thinking. In Marxist thinking, there is a bias […]

78 Million Americans Now Live in States with Legal Recreational Marijuana

By: Ryan McMaken Advocates for marijuana legalization won another victory this year as voters in Michigan voted to approve legalization of recreational marijuana in last week’s election. This comes only a month after Canada finalized its legalization of recreational marijuana, making it only the second country where the national government […]

Indians and the Confederacy, Part 1: “Civilizing” The Five Nations

Season 3, Episode 31. In 1861, the Five Civilized Tribes — the Cherokees, Creeks, Chickasaws, Choctaws, and Seminoles — would be faced with the decision of staying neutral or choosing a side in the Civil War. To understand their decision, Chris Calton takes a look at the long history of […]

Venezuela Has Hyperinflation. Now What?

Venezuela is the fifty-seventh country to encounter hyperinflation in modern history. The economist Steve Hanke estimated — using the doctrine of purchasing power parity (PPP) — that the country’s monthly inflation exceeded 50 percent for more than thirty days in November 2016. Therefore, it entered the list of Hanke-Krus hyperinflations.The International Monetary […]

The New Bob Murphy Podcast Interview with Jeff Deist

By: The Editors Bob Murphy has a terrific new podcast called, unsurprisingly, The Bob Murphy Show. His focus? “Free markets, free minds, and grateful souls.” Bob tells us he plans to focus more on individuals and their personal stories than libertarianism or economics per se. He’s already hosted Tom Woods and […]

How to Resolve the De-Platforming Problem

Is enacting anti-discrimination legislation the answer to social media de-platforming? Many right-wing commentators are justifiably concerned about social media censorship of controversial content creators. Unfortunately, they advocate for state-based solutions promoting equal access and anti-discrimination measures. Ironically, these conservative pleas are calling cards of the political Left. The reflexive impulse […]

The Brutality of Slavery

In a slave system, threats of brutality underlay the whole relationship. Narrated by Floy Lilley. This article is excerpted from Conceived in Liberty, Volume 1, Chapter 6, “The Social Structure of Virginia: Bondservants and Slaves”. Powered by WPeMatico

Un acuerdo Trump-Pelosi del presupuesto es una receta para el peor tipo de aumento de impuestos

By: Daniel J. Mitchell El resultado más perturbador de la reciente elección a medio plazo no es que Alexandria Ocasio-Cortez sea miembro del Congreso. En realidad, espero eso por su valor humorístico. En cambio, ahora que los demócratas controlan la Cámara de Representantes, me preocupa más que Donald Trump sea […]

Coffee Sellers Are Not Fundamentally Different from Banks

With the 2007-8 financial crisis came a splendid alphabetical soup of central bank interventions to stimulate financial markets, lower interest rates, provide astonishing amounts of liquidity to banks and, allegedly, prevent another Great Depression. Likening the failure of big banks to falling elephants crushing even the smallest grass, former Fed […]