Mises University 2021

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Rothbard Graduate Seminar 2021

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The Mises Institute’s Master of Arts in Austrian Economics to Commence This Fall

Imagine creating a graduate school in economics today, from scratch. What would it look like? For starters, it would be online, inexpensive, fast, flexible, and taught using the great treatises. It would stress economic history. It would be rigorous. It would focus on fundamentals. And critically, it would teach real […]

Gold Prices Show There’s a “Big Short” Going on in Official Currencies

On August 4, 2020, the price of gold surpassed $2,000 per ounce, currently trading around an all-time high of $2,050 per ounce. While one may say that the price of gold is on the rise, it would actually be more meaningful to say that the purchasing power of the world’s […]

The Implosion of the Virus Hysteria Smells a Lot like 1989

Yes, there are still the people buying into the fear, ratting out their neighbors, etc. But I’m seeing a lot more of the opposite: people recognizing who the enemy is here, and that it is not their neighbors. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by […]

Trump’s Payroll Tax Order Is Good Politics, but Doesn’t Offer Much Tax Relief

Listen to the Radio Rothbard version of this article. President Trump issued a new executive order on August 8 directing the Treasury Department to defer the 6.2 percent Social Security tax on wages for employees making less than about $100,000 a year. The suspension on collections will be in effect from September 1 […]

Calculating GDP Correctly

While gross domestic product is considered by many to be the most important statistic regarding our economic well-being, Austrian and non-Austrian economists alike have criticized it as being an unsound representation of the health of an economy. Readers of mises.org are probably familiar with these arguments and I am not […]

Are Negative Rates a Natural Historical Development?

Negative interest rates have long since become a reality. But we are not talking about negative real interest rates. This is the case when the return on an investment is lower than the officially stated inflation rate. In today’s context, negative interest rates are rather negative nominal interest rates; that […]

Kamala Harris Is Basically Obama-Clinton 2.0, But Worse

No doubt, many of Harris’s detractors will call her radical or a tool of the far left. The reality is actually far more alarming. Original Article: Kamala Harris Is Basically Obama-Clinton 2.0, But Worse. Powered by WPeMatico

Why Chicago’s Mayor Blames Her City’s Murders on Wisconsin and Indiana

Although it’s easier to buy guns in Indiana and Wisconsin than in Chicago, homicide rates are lower in those states than in either Illinois or Chicago. Original Article: Why Chicago’s Mayor Blames Her City’s Murders on Wisconsin and Indiana. Powered by WPeMatico

Why We Need Entrpreneurs and Market Prices for a Healthy Economy

Among the many insights Mises provides in his magnum opus, Human Action, there are crystal-clear considerations about the price mechanism, the role entrepreneurs play in fostering efficient resource allocation, and how socialism is detrimental to the economy, insofar as it disrupts the smooth interplay of prices, entrepreneurship, and resources’ allocation. Prices and […]

The Misplaced Fear of “Monopoly”

Those of us who get drawn, often against our better judgment, into Internet debates soon discover that the case against the market economy in the popular mind boils down to a few major claims. Here I intend to dissect one of them: under the unhampered market we’d be at the […]

Per Bylund Introduces The Austrian Business Model

Key Takeaways and Actionable Insights Every business needs a business model, a recipe for generating profitable and sustainable revenues that result from bringing the customer an experience on which they place a high value. How do entrepreneurs design successful and profitable business models? They combine theory and experience — theory […]

The Chicago Mayor’s Absurd Claim that Wisconsin’s Guns Cause Chicago’s Murder Problem

It is now well known that the City of Chicago and Illinois overall have adopted stringent gun control laws over the years. Thus, the pro–gun control Giffords Center gives the state of Illinois a lofty “A-” on its “annual gun scorecard.”  Yet, somehow, shootings are surging in the city this […]

Throwing Printed Money at This Problem Won’t Make It Go Away

If while driving your car you suddenly noticed that you were heading straight for a cliff edge, of course the sensible thing to do would be to apply the brakes and sharply turn the wheel. If, however, rather than traveling by yourself you were instead driving a carload of children […]

Albert Jay Nock, Radical

[Reprinted from Fragments, Spring 1995.] It has happened with every great radical in history: the moment he dies and is safely interred, interpreters and commentators leap in to dilute and bowdlerize his thought and his stature, and often succeed in transforming his public image into that of a safe and […]

Pennsylvania Is Playing Politics with Drug Rationing

“Never let a crisis go to waste,” the old adage goes, and the coronavirus fiasco has demonstrated this principle in action more times than one can count. From declarations of veritable society-wide house arrest to crazed government spending and monetary policy, there has been no shortage of opportunistic actors working to […]

Reflections on the Failure of Socialism

Max Eastman during the time from the Bolshevik Revolution through the early 1950s was one of the most famous political writers in America, known also for such literary works as The Enjoyment of Laughter. He began as a radical and, surprising though it may seem to us today, he first […]

Why Fed Bugs Really, Really Hate Gold

Judy Shelton, a Trump nominee to the Fed Board of Governors, may not have coined the excellent term “Fed Bug,” but she used it to delicious effect in this 2019 Financial Times interview: “People call me a goldbug, and I think, well, what does that make them? A Fed bug,” she says. Can anyone the ​New York Times […]

The Founding Fathers’ Coup d’√Čtat

[Adapted from chapter 5 of Our Enemy, the State.] The revolution of 1776–1781 converted thirteen provinces, practically as they stood, into thirteen autonomous political units, completely independent, and they so continued until 1789, formally held together as a sort of league, by the Articles of Confederation. For our purposes, the […]