June 2021

[This article is excerpted from chapter 17 of Human Action.] Men have chosen the precious metals gold and silver for the money service on account of their mineralogical, physical, and chemical features. The use of money in a market economy is

The British Austrian economist W.H. Hutt was a great critic of Keynes’s economic theories. However, his speculations on why the New Economics revolution happened are even more fascinating. Hutt shows it to be a fundamentally dishonest undertaking. Keynes held a

From the Late Middle Ages to the nineteenth century, Europe transitioned from being one of the most backward regions in the world and became the world’s economic powerhouse. How did this happen? One reason, as shown by Ralph Raico, is Europe’s unusual

What does it mean to act "on the margin" or to think in terms of "marginality?" Economists use the term often. The Mises Circle in interwar Vienna even had songs with refrains that included the words "marginal utility." On the very

In Human Action, Mises anticipates an issue that has been at the heart of political philosophy for the past thirty years or so. The discussion in political philosophy has centered on issues raised by John Rawls in Political Liberalism (1993).

It's too late for American member states to assert real independence from the central government without facing an avalanche of legal, political, and even military opposition. Europeans would be wise to not put themselves in a similar position. Original Article: "Decentralization:

It seems absurd to have to point out that economic cannibalism, even in the face of a virus, cannot produce anything but devastation, but alas, we live in absurd times. Original Article: "Economic Cannibalism Will Not Save Mexico, or Any Other

The misery will continue for New York subway riders, who don’t understand how previous subway reforms have failed. State and city officials concede things will worsen. “There is no question our subways are in crisis after decades of underinvestment and inaction,”