Mises Dailies

Transformation of the American Right

Fri, 06 Nov 2009 03:12:00 -0600

The promise of laissez-faire performs the same function for the Right as the promise of unlimited abundance under communism did for Stalin: the promise of a future utopia to make current sacrifices worthwhile.

Freaking Out over Global Warming

Fri, 06 Nov 2009 02:08:00 -0600

Levitt and Dubner raise an interesting possibility that deserves careful scrutiny, not ridicule. An immediate and drastic reductions in carbon emissions is not the only way to address climate change.

A Path To Runaway US Inflation

Fri, 06 Nov 2009 01:04:00 -0600

Housing prices have been propped up, banks and auto companies have been bailed out, regulations have been increased, debt covenants have been violated, unemployment insurance has been extended.

Classical Natural Law and Libertarian Theory

Thu, 05 Nov 2009 04:16:00 -0600

Murray N. Rothbard, the most important exponent of the radical libertarian school, is right when he rejects the historicism and relativism of legal realism and when — for the same reasons — he criticizes Hayek and Leoni.

Cultivating Sound Ideas

Thu, 05 Nov 2009 03:12:00 -0600

Rockwell argues that one of the worst errors of free-market intellectuals is their discussion of liberty as just another policy option for politicians and bureaucrats to consider how, when, and where freedom is to be permitted.

Can Capitalism Survive?

Wed, 04 Nov 2009 04:16:00 -0600

Capitalism, by providing a previously unknown standard of living, actually undermines its own support, essentially by performing its tasks too well, so that the origin of prosperity is overlooked by its greatest beneficiaries.

Will Preventive Care Control Costs?

Wed, 04 Nov 2009 03:12:00 -0600

American patients are not homogeneous mannequins smoothly distributed over one or two physical variables along a bell curve or any other type of graph. Each individual consumer is unique.

The Notion of Neutral Money

Wed, 04 Nov 2009 03:09:00 -0600

The notion of a neutral money is no less contradictory than that of a money of stable purchasing power. Money without a driving force of its own would not, as people assume, be a perfect money; it would not be money at all.

A Penchant for Controlling Others

Tue, 03 Nov 2009 02:08:00 -0600

There are times when texting is safe. There are times when it is not safe. The only ones who can really know the difference are the people behind the wheel.

Obama and the Aqueduct

Tue, 03 Nov 2009 02:08:00 -0600

It's just a matter of time before renewed calls for a Works Progress Administration (WPA) or other Depression-era-like programs are trotted out again with the idea of Uncle Sam putting people back to work.

Why We Have Rights

Tue, 03 Nov 2009 02:07:00 -0600

Rights are the means by which we can reasonably predict human behavior. Without predictability, the existence of higher life forms would be impossible.

Common Objections to Capitalism

Tue, 03 Nov 2009 02:06:00 -0600

A lot of people object to what they call "capitalism," but their objections hold little or no water once they are examined critically. Let's consider some of the most common objections in turn.

The Austrians versus the Mainstream Potter and His Wheel

Mon, 02 Nov 2009 01:03:32 -0600

Capital is not some mass that can be modified free form. If an entrepreneur wants to change the current structure of capital, he will wield dynamite and dozer, not water and wheel.

The Broken Window

Mon, 02 Nov 2009 01:03:24 -0600

What if someone says that it is a good thing to break windows; it causes money to circulate; the encouragement of industry in general will be the result of it? That theory accounts only for what is seen.

Entrepreneurs: The Real "Peace Prize" Winners

Mon, 02 Nov 2009 01:03:20 -0600

The true promoters of peace need attention, for they will never likely receive such ostentatious recognition for their noble efforts. They take risks in a world of uncertainty, and save or borrow capital to start a business.

Halloween and its Candy Economy

Sat, 31 Oct 2009 01:03:54 -0500

The true magic of Halloween is the transforming effect of free exchange, the chance to derive mutual benefit from the difference in tastes between individuals.

A Live Blog From Salamanca

Fri, 30 Oct 2009 01:03:36 -0500

The live blog from Salamanca, Spain, has been a popular feature of the Mises blog. It was my "job" to do this in Salamanca during the Supporter's Summit this year, but it ended up being a joy, and much easier than I expected.

The Gold Standard and the Great Depression

Fri, 30 Oct 2009 01:02:58 -0500

Remember that "abandoning gold" isn't akin to shaving one's mustache. When a country dropped a peg, it effectively ripped off every investor who had been holding assets denominated in it.

The Lawless State

Fri, 30 Oct 2009 01:02:27 -0500

Today, in the land we like to think of as the most free on earth, governments at all levels reaches into every level of our lives. It controls and it coerces, it bullies and it brags, it browbeats and it blusters.

Does a Fall in Credit Lead to Deflation?

Thu, 29 Oct 2009 01:03:30 -0500

It is not a fall in credit as such that is the key to deflation, but a fall specifically in credit created out of thin air. It is this type of credit that causes the decline in money supply, i.e., deflation.

Commercial-Real-Estate Crush: The Next Crisis Not to Be Wasted?

Thu, 29 Oct 2009 01:03:17 -0500

Some groups are losing a lot of money right now. The current news regarding the commercial-real-estate market in New York City is an indicator of the big-city result of "irrational exuberance" in commercial real estate.

Freedom and Property: Where They Conflict

Thu, 29 Oct 2009 01:03:14 -0500

There may be cases where there is a conflict between claims on behalf of one person's freedom and claims on behalf of another person's private property. In such cases, the question arises, which claims should prevail?

Classical Liberalism versus Anarchocapitalism

Wed, 28 Oct 2009 01:03:11 -0500

The fatal error of classical liberals lies in their failure to realize that their ideal is theoretically impossible if it includes the necessary existence of a state (even a minimal one), understood as the sole agent of institutional coercion.

Maximum Confusion over Minimum Wages

Wed, 28 Oct 2009 01:03:10 -0500

Common sense and a few basic concepts can guide most people through economic issues. One small step of reason on the minimum-wage issue could be a giant leap for all mankind.

Is America Struggling with Hunger?

Wed, 28 Oct 2009 01:02:56 -0500

Peel back the rhetoric and see the reality: only 2 percent of all American households sometimes feel the "usual uneasy sensation" of hunger due to a lack of economic resources. This is not catastrophic.

A Note on Intellectual Property and Externalities

Tue, 27 Oct 2009 01:03:18 -0500

Dissatisfied with inconsistencies in Hayek's concept of individual freedom, I was looking for an assessment that (at least) tried to avoid them. Hoppe's approach was and still is a representative of this rare species.

The World of Salamanca

Tue, 27 Oct 2009 01:03:07 -0500

The age between the 8th and 16th centuries was a time of amazing advance in every area of knowledge, such as architecture, music, biology, mathematics, astronomy, industry, and - yes - economics.

How the Free Market Works

Tue, 27 Oct 2009 01:03:03 -0500

In Rothbard's vast compendium of economic wisdom, we read much that has not yet been properly popularized. Rothbard's production theory, for example, is quite different from the standard account.

Gold: India’s Capital Asset through History

Tue, 27 Oct 2009 01:03:01 -0500

India's obsession with gold is well known around the world. To most Western commentators, this obsession seems irrational, and Indian people seem like incurable gold bugs.

The Determination of the Purchasing Power of Money

Mon, 26 Oct 2009 01:03:23 -0500

The demand for a medium of exchange is the composite of two partial demands: the intention to use it in consumption and production and the intention to use it as a medium of exchange.