Madison’s Definition of Democracy Is Now Irrelevant

By: Ryan McMaken The claim that the United States political system is “a republic, not a democracy” is often heard in libertarian and conservative circles, and is typically invoked whenever the term “democracy” is used in any favorable context. This claim is generally invoked when the user believes one of […]

Yellen’s Poor Legacy — and Powell’s Challenges

By: Daniel Lacalle The appointment of Jerome Powell as the new chair of the Federal Reserve must be interpreted by the markets as a sign of continuity. He is not the hawk that many market participants feared and neither holds a dovish and dangerous stance. Yellen’s mandate has been widely […]

Mainstream Economists Don’t Even Get Their Dimensions Right

By: Robert P. Murphy There are many differences between Austrian economics and the neoclassical mainstream, but one of the most critical involves the difficult field of “capital & interest theory.” (Here are three links of increasing difficulty to show the Austrian perspective on these issues: one, two, and three.) This […]

Can Gradual Interest-Rate Tightening Prevent a Bust?

By: Frank Shostak Fed policy makers are of the view that if there is the need to tighten the interest rate stance the tightening should be gradual as to not destabilize the economy. The gradual approach gives individuals plenty of time to adjust to the tighter monetary stance. This adjustment […]

The March to America’s Civil War

By: Chris Calton In the first episode of the second season of Historical Controversies, Chris Calton gives a revisionist look at the antebellum period leading up to the Civil War. Powered by WPeMatico

If American Federalism Were like Swiss Federalism, There Would be 1,300 States

By: Ryan McMaken In a recent interview with Mises Weekends, Claudio Grass examined some of the advantages of the Swiss political system, and how highly decentralized politics can bring with it great economic prosperity, more political stability, and a greater respect for property rights.  Since the Swiss political system of […]

Capitalism and the Free Society, Part 1

By: Richard M. Ebeling One of the leading ideological punching bags for well over one hundred years has been the ideas, institutions, and impact of “capitalism” on society. Think of something someone does not like in the world and the guilty party causing it is almost always the same – […]

Trey Goff: A Constitution for a Free Society

By: Trey Goff, Jeff Deist Our guest Trey Goff drafted a remarkable “Voluntaryist Constitution” designed to serve as the foundational legal document for a private society. Trey attempts nothing less than to define the characteristics and rules underlying a common law society, in the form of a polycentric constitutional order […]

In Fed We Trust

By: Ryan McMaken At this point, does anyone believe the Fed is willing to do anything that might really spook markets?  During the 1990s, back in the days of “Maestro” Alan Greenspan, it was widely believed that investors should pay careful attention to every word uttered by Fed chairment for […]

Niger: Finally, A War John McCain Doesn’t Love

By: Ilana Mercer News first broke about America’s Niger misadventure on October 4. “The real news here is that the US has forces in Niger, where they’re conducting covert operations,” this writer tweeted out. “Hashtag America First.” Official media ignored the ambush of the American Special Forces, until the story […]

Pentagon Pushes Plan for Female Draft Registration

By: Ryan McMaken The Pentagon is moving forward with pressuring Congress to add women to the Selective Service program, which will make virtually all young people eligible for the military draft. The Washington Times reports:  The Pentagon says the country should stick with mandatory registration for a military draft, and it advocates a requirement for women […]

America’s Prison Population Bomb

By: Chris Calton Following the death and torture of a DEA agent, the War on Drugs is taken to even greater heights. In the final episode of the Historical Controversies “War on Drugs” series, Chris Calton explains the legislation and police operations that led to America having the world’s largest […]

Trump’s Fed Picks? More of the Same!

By: Ron Paul This week President Trump revealed his final five candidates for Federal Reserve chair. Disappointingly, but not surprisingly, all five have strong ties to the financial and political establishment. The leading candidates are former Federal Reserve governor and Morgan Stanley banker Kevin Warsh and current Fed governor, former […]

The Voluntaryist Constitution

By: Trey Goff [Editor’s note: The Mises Institute presents below’s “voluntaryist constitution” as a thought experiment, and is not presented here as an ideological or political ideal.]  There have been a number of attempts to create the ideal constitution — one which enshrines liberty, autonomy, and property rights, while ensuring […]

The Great Ralph Raico

By: David Gordon Today would have been the 81st birthday of Ralph Raico, who died last December 31. His intellectual brilliance was evident from an early age, and while still in high school, he attended Ludwig von Mises’s seminar at New York University. There he met Murray Rothbard, who became […]

Poor Cities and Poorer Economics

By: Carmen Elena Dorob?? The newest cover story in The Economist deplores the situation of cities in developed countries that are left behind in terms of economic development by the digitized, globalized economy. One such is Scranton, Pennsylvania, where, since 2007, the local government has spent over $6bn on corporate […]

Murray Rothbard: Mises’s True Heir

By: Joseph T. Salerno Recently a young Austrian scholar made a very interesting observation in an informal discussion on Facebook:  I have experienced that when you quote Mises instead of Rothbard (and they say basically the same in most circumstances) other Austrians are usually more receptive and willing to engage […]

Torturer-in-Chief Turned Savior of Freedom?

By: James Bovard Former President George W. Bush gave a speech yesterday implicitly slamming President Donald Trump for dragging down democracy. Bush told political cronies and other attendees: “We are gathered in the cause of liberty this is a unique moment.” He assured listeners that freedom “should be the defining […]

Can Trump and Rand Paul Save Healthcare?

By: Ryan McMaken Last week, Donald Trump signed a new executive order facilitating more flexibility for consumers of health insurance.  The order allows for more flexibility in purchasing insurance across state lines, and greater freedom both small businesses and groups of consumers in creating “association health plans” (AHPs). In theory, this will broaden access to the […]

Gas Station Hold-Up: Thieves Seize $59,000

By: Joseph T. Salerno Back in 2011, U.S. Army veteran, Oh Suk Kwon, the owner of a gas station in Maryland, was held up.  The perpetrator got away with $59,000 leaving him with no money assets and forcing him to close his business. But it wasn’t just a garden-variety thug who […]