Why the “Golden Rule” Is an Obstacle to the Government’s Agenda

The golden rule—“Do to others as you would have them do to you” being the most common variant I have heard–may be the most common ethical touchstone for human interactions. After all, Simon Blackburn wrote in his 2001 book, Ethics, that the Golden Rule is “found in some form in […]

The Birth of a Monster

The Federal Reserve’s doors have been open for “business” for one hundred years. In explaining the creation of this money-making machine (pun intended — the Fed remits nearly $100 bn. in profits each year to Congress) most people fall into one of two camps. Those inclined to view the Fed […]

Our Disastrous Obsession with Equality

One of the principal aims of the progressive (i.e., leftist, liberal, socialist) movement is equalization of income and wealth. They think it’s unfair, even immoral, for some people to have more when others have less. They especially decry the existence of billionaires but their lament oftentimes extends to millionaires as […]

The State Expands its Responsibilities In Order to Expand Its Power

Many moviegoers might recognize the following quotation: “with great power comes great responsibility.” Reality, however, is the exact opposite of what the quote describes. In reality, it is responsibility that precedes power. In a corporation, for instance, when you’re hired you are told your responsibilities and the powers granted to […]

The Transportation Boom Ends

By: Doug French Sales of Class 8 trucks (18-wheelers) hit the ditch in January, with orders down 58 percent from a year ago hitting a level not seen since October 2016, near the end of the transportation recession, “when Class-8 truck orders had plunged to the lowest levels since 2009, […]

63. A Voice for Freedom in Medicine

In the mind of the public, American physicians are represented by one prominent organization, namely, the American Medical Association. Yet, only a minority of American physicians currently belong to the AMA, which has long grown comfortable with political and government intrusions into healthcare. Who should represent physicians when doctors may […]

Donald Trump’s Democratic Wall

By: Tho Bishop After a month of “will he, won’t he” drama fitting for reality television, Donald Trump has announced his plans to declare a national emergency in order to get the funding he desires for his border wall. While the wall itself invites debate on subjects such as practical […]

Introducing the Economics For Entrepreneurs Podcast

The Mises Institute is launching a new podcast with the title Economics For Entrepreneurs. Why should you listen? The entrepreneur is the central hero in the dynamic order of Austrian Economics. Mises referred to entrepreneurs as “the driving force of the whole market system”.1 Jesus Huerta de Soto points to the […]

Money-Supply Growth Slows in January

Money supply growth slowed in January, falling to the second-lowest rate recorded since February of last year. Overall, money-supply growth remains well below the growth rates experienced from 2009 to 2016, and has fluctuated little since March of last year In January, year-over-year growth in the money supply was at […]

The Problem with Cutting Taxes without Reducing Spending

According to many economic experts and commentators, an effective way to generate economic growth is through the lowering of taxes. The lowering of taxes, it is held, is going to place more money in consumer’s pockets thereby setting in motion an economic growth. This way of thinking is based on […]

Blue-State Migrants Probably Aren’t Turning Your State Blue

States like Texas, Florida, Arizona, and Colorado are experiencing an influx of migrants from other states. Often, these migrants come from so-called blue states like New York, California, and Illinois — all of which are sending more people to other states than they are receiving in return. [RELATED: “Americans Continue […]

Venezuela: Poster Child for Socialism

There is no more recent example of the many theoretically apparent pitfalls of socialism coming to life than in Venezuela. The South American nation is but the latest example on the long list of countries to have fallen victim to the siren’s song of a socialist utopia. While over the […]

A Family Connection

By: David Gordon Mr. Mark Lautman has given me permission to share the following letter:   When I started reading Rothbard’s book, I gave the three-line summary to my wife. “It’s a book written by Murray Rothbard in the 1950s about libertarian economics. It’s published by the Mises Institute. Rothbard was a […]

The Ethics of Capitalism

Traditional studies on natural law and justice have been eclipsed by the development of a concept of economic science that has tried to apply a methodology originally formed for the natural sciences to the social sciences. According to this line of thought, the defining content of economic theory consists of […]

The Folly of Minimum Wage Laws

Pennsylvania Governor Tom Wolf has proposed raising the legal minimum wage to $12 per hour on July 1, 2019, and then an additional 50 cents per year until the minimum wage reaches $15 per hour in 2025. Laws mandating a minimum wage have existed without interruption since the federal Fair […]

Americans Continue to Flee to Low-Tax States

According to the most recent Census Bureau data on state-to-state migration flows, 523,000 people moved to California from other states. But at the same time, more than 661,000 Californians moved to other states. That is, on net, nearly 138,000 more people left California than moved into it from elsewhere in […]

The UK Government’s “Secret Plan” to Slash Taxes After a No-Deal Brexit

With fewer than 50 days left to go until Britain is scheduled to leave the European Union, it is becoming increasingly certain that politicians on both sides will fail to reach any sort of formal agreement on Britain’s future relationship with the EU before the date of Brexit arrives. Prime […]

Economics is a Mess

Professor Peter Klein joins The Human Action Podcast to explain how and why. Subscribe and listen on iTunes, Stitcher, Soundcloud, Google Play, Spotify, or via RSS. Powered by WPeMatico

16. Joe Salerno on Economic Calculation, Fractional Reserve Banking, and Stories of Rothbard as White Knight

Joe Salerno is Academic Vice President of the Mises Institute and one of the world’s leading economists in the Rothbardian tradition. He discusses his intellectual roots, as well as his scholarly work on money and banking. But Bob also asks Joe to recount some of his funny adventures with Murray […]

Ludwig von Mises and the Nature of Money

As a true disciple of Carl Menger, Ludwig von Mises began the presentation of his theory of money with an analysis of the nature of money itself. He then went on to deal with the determination of money’s purchasing power and with the impact of what he called Umlaufsmittel (fiduciary […]