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What is Old School Economics?

Mises Institute ·

2024/09/27

When people speak of “old school economics,” they generally mean the application of economic thinking that involves what we might call “common sense.” That would include permitting a price system to work, protecting private property, and so on. But there is more.

Hayek on the Welfare State

Mises Institute ·

2024/09/27

While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was compatible with the rule of law. Ludwig von Mises, however, knew that the welfare state is the ubiquitous slippery slope.

Yes, Car Seat Laws Reduce the Birth Rate

Mises Institute ·

2024/09/27

Thanks to increasingly broad car-seat laws, a third child often requires the purchase of a larger, more expensive vehicle. At the margins, this has an effect on fertility.

Political Violence in American Society

Mises Institute ·

2024/09/27

The recent attempts on former President Donald Trump’s life have sparked concerns about political violence and the normalization of such acts in American society.

New Jersey Eliminates Sales Taxes on Gold and Silver

Mises Institute ·

2024/09/27

Sound money advocates are today hailing their hard-fought victory today as New Jersey’s Senate Bill 721 was signed into law—thereby removing sales taxes on purchases of gold, silver, and other precious metals above $1,000.

Enough Already: Stop Provoking Russia

Mises Institute ·

2024/09/27

The Ukraine war rages on and while the media and political classes repeat the “Putin started it” mantra, the evidence points elsewhere. The US government and its European allies have provoked Russia for years, hoping it would lead to an outbreak of war.

Economically-Illiterate Policy Proposals Are Popular,...

Mises Institute ·

2024/09/26

Many “mainstream” economists are bothered by the popularity of economically-flawed policy proposals like tariffs and price controls. It’s their own fault.

Against the Hamiltonian Statecraft

Mises Institute ·

2024/09/26

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Aaron Sobczak of the Quincy Institute for Responsible Statecraft.

What Does ChatGPT Know about Money?

Mises Institute ·

2024/09/26

What does ChatGPT know about money? More than one might think. George Ford Smith asks the AI program some questions about money and gets some surprising answers.

New “Engels” on Marx

Mises Institute ·

2024/09/26

It is understood that Marx's theories stand entirely upon his Labor Theory of Value. If that theory is discredited, so is the scenario that leads to the inevitable triumph of communism. That fact, however, doesn't stop Marx's disciples from employing other fallacies.

Understanding the Real Costs of Slavery: It’s Not...

Mises Institute ·

2024/09/26

The standard belief is that slavery was about obtaining “cheap labor,“ yet nothing could be further from the truth. Slavery comes with high opportunity costs, which is why American slave owners depended upon several government regulations to subsidize their “peculiar institution.”

Why the Family Is Not the Model for the State

Mises Institute ·

2024/09/26

Politicians have long claimed that states are like big families, and that political regimes rule in ways similar to how parents raise their families. This is nonsense.

Do Financial Markets Immediately Provide All Relevant...

Mises Institute ·

2024/09/26

The Perfect Market Hypothesis claims that all movements in the market can be considered as random, as market players and prices adjust immediately to new information. However, market players do seek new information and seek to use it.

The Vampire Fiat Money System: How It Works and What...

Mises Institute ·

2024/09/26

Governing elites believe that the fiat money system is the height of “sophisticated” finance. In reality, fiat money sucks the life out of the economy like a vampire.

No, Russia is Not Losing the War in Ukraine: A Reply...

Mises Institute ·

2024/09/25

Despite a recent claim in Reason by Paul Schwennesen that a briefly-successful Ukrainian advance somehow translates into an ultimate Ukraine victory. The hard facts of the war tell us something different.

China on the Edge of Recession

Mises Institute ·

2024/09/25

The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China's debt — over $50 trillion — has grown to the point it can't afford it.

The Comic Absurdity of a US Sovereign Wealth Fund

Mises Institute ·

2024/09/25

The US Government is no stranger to scamming citizens but the latest financial hustle being proposed, a sovereign wealth fund, is a flim-flam on steroids. It needs to be put out of its misery before it makes the rest of us miserable.

Economically-Illiterate Policy Proposals Are Popular,...

Mises Institute ·

2024/09/25

Many “mainstream” economists are bothered by the popularity of economically-flawed policy proposals like tariffs and price controls. It’s their own fault.

The Fed Cut the Interest Rate to Bail Out the Treasury

Mises Institute ·

2024/09/24

Lowering rates is a tool to rescue the government. If you make it easy for governments to borrow, they will gladly do it and continue printing currency.

Covid Tyrants Partied While Demanding Lockdowns for...

Mises Institute ·

2024/09/24

Remember when progressive governments outlawed church gatherings but sanctioned sex orgies? Yes, it really happened.

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