An Austrian Critique of Robert Mundell’s “Impossible Trinity”
Robert Mundell, winner of the Economics Nobel in 1999, recently passed away at the age of eighty-eight. As many of the obituaries have explained, Mundell is considered the intellectual father of the euro and was associated with the supply-side revolution
Polarization in Washington Is Forcing Politicians to Decentralize
From gun control to abortion, gridlock and polarization in Washington forces policymakers to look to state and local governments as the centers of political reform. Original Article: "Polarization in Washington Is Forcing Politicians to Decentralize" This Audio Mises Wire is generously sponsored
Patriotism
[Originally printed in Facts and Comments (1902)] Were anyone to call me dishonest or untruthful he would touch me to the quick. Were he to say that I am unpatriotic, he would leave me unmoved. “What, then, have you no love of country?”
Thanks to the Fed, the High-Risk, Small-Time Borrower Is Becoming a Thing of the Past
Banks and accounting trickery go together. Last year, as I remember back to my banking days, financial institutions followed the advice once proffered by one of our board members, “If we’re going to the dump, let’s take a full load.” When
George Floyd and Generalized Justice
Justice is specific, not general. It is individual, not cosmic. Original Article: "George Floyd and Generalized Justice" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
Why Empowering Organized Labor Will Definitely Not Help the Economy
Paul Krugman has a very prominent perch from the editorial page at the New York Times and he has used his influence, among other things, to shill for two things that are anathema to a strong economy: inflation and organized
Who’s to Blame for Normalizing One-Man Rule?
Unfortunately, the corporate press and public health officials have determined that unilateral rule by executive decree, unimpeded by any conception of individual freedom, is necessary to respond to the coronavirus. Original Article: "Who's to Blame for Normalizing One-Man Rule?" This Audio Mises
The Factory System of the Early Nineteenth Century
[Written in 1925, this essay was published in Economica in 1926 and became more widely known when F.A. Hayek included it in Capitalism and the Historians (1954).] The early British factory system may be said to have been the most obvious
No, Dogecoin Does Not Compete with Bitcoin
Elon Musk’s dogecoin tweets have given the coin a nice run, sending its price from fractions of a penny—where it traded for roughly 8 years—to 40 cents on April 20th before falling back. It was enough to yank bitcoin skeptic
Biden’s Amtrak Infrastructure Scam
Profit-seeking entrepreneurs move factors of production to their highest and most economical uses. Amtrak, on the other hand, is diverting useful factors of production from higher use values to lower-valued uses. To put it another way, Amtrak is destroying wealth. Original