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Understanding the True Meaning of Charity

Mises Institute ·

2024/02/21

The Misesian (TM): The economics behind gift giving and charity have long been a neglected topic among researchers and economists. What prompted you to launch your own investigation into the topic? Jörg Guido Hülsmann (JGH): The economic literature on gifts is actually quite massive, but it’s true that these writings don’t make it into standard micro- and macroeconomics. My initial interest was sparked by Benedict XVI’s 2009 encyclical letter Caritas in veritate. The pope wondered how the scope of

The Outrageous Persecution of Julian Assange

Mises Institute ·

2024/02/21

Today marks the second and final day in what could very well be Julian Assange’s last extradition trial in front of the British High Court. For almost five years now, the United States government has been working to get the Wikileaks founder extradited to the US to face charges that he violated the Espionage Act. Inspired by Daniel Ellsberg’s release of the Pentagon Papers back in 1971, Julian Assange founded Wikileaks in 2006. Assange’s vision was to develop an online portal where whistleblowers

The Importance of Hülsmann's Groundbreaking book...

Mises Institute ·

2024/02/21

Guido Hülsmann’s Abundance, Generosity, and the State provides readers with an explanation of the nature and causes of gratuitous goods. Hülsmann demonstrates how free markets are infused with both intentional and unintentional gratuity, and how the repressive and permissive interventions of the modern state lead to their destruction. This work is desperately needed and represents a remarkable achievement by one of the Austrian School’s leading lights of our time. It is the first successful and

The Death of Easy Money Has Been Greatly Exaggerated

Mises Institute ·

2024/02/21

Reports on the death of the present cycle of politically motivated monetary easing, in the words of Mark Twain, grossly exaggerated. Contemporary market analyses are full of how the Fed and ECB are dialing back on previous hints of Spring 2024 rate cuts. In tune with this, commentators are lauding the central banks, especially the Fed, for a show of political independence as elections approach. The bigger picture though suggests otherwise. In the economic aftermath of the pandemic, monetary policy

The Right Is Wrong to Pursue Term Limits

Mises Institute ·

2024/02/21

Americans across the board have routinely spoken for term limits. Recently, however, this has been most common among Republican politicians. On January 29, Ron DeSantis announced his legislative priorities over social media as he found himself no longer focused on a presidential campaign, and his very first item on the list was enforcing term limits. Additionally, perhaps the most right-wing politician in America, Anthony Sabatini, routinely calls for term limits. Most recently, almost a week before

Forget Being the World's Policeman; the Federal...

Mises Institute ·

2024/02/20

While US taxpayers pay billions for military missions around the world in the name of “keeping us safe,” the federal government fails to keep residents of the nation’s capital safe from violent crime. Original Article: Forget Being the World's Policeman; the Federal Government Can't Even Keep DC Safe

How Carl Menger and the Austrians Helped to Steer...

Mises Institute ·

2024/02/20

When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production. Original Article: How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction

Social Insecurity: It’s Not Wrong to be Concerned...

Mises Institute ·

2024/02/20

Social Security is headed for reduced benefits, and no amount of political rhetoric or even tax increases will solve that problem. The numbers do not lie. Original Article: Social Insecurity: It’s Not Wrong to be Concerned about Facts

Why Americans Do Not See a Strong Economy

Mises Institute ·

2024/02/20

The euphoria with the fourth quarter Gross Domestic Product (GDP) figure makes no sense. The headline champions say that real GDP increased at an annual rate of 3.3% in the fourth quarter of 2023, according to the Bureau of Economic Statistics (BES). An increase in real GDP of $1.5 trillion with an increase in public debt of more than $2 trillion is not a strong economy. It is a bloated economy. Furthermore, there is nothing positive in consumption when personal saving as a percentage of disposable

No, "Science" Has Not Proven Mises Wrong on Socialism

Mises Institute ·

2024/02/20

In response to the many shortcomings of the Soviet Union, Mao Zedong’s China, and Venezuela, the refrain, “It wasn’t real socialism,” has emerged as a rallying cry among apologists of socialism. Some readily admit the failures of these regimes and attribute the failures to capitalism rather than socialism. Some refuse to recognize the failure whatsoever; they see these experiments as genuine instances of “real socialism” and perceive them to be unequivocal successes. How can this happen? Don’t we

The Awesome Verbal Punching Power of Thomas Paine

Mises Institute ·

2024/02/20

Most public-school graduates have heard that Thomas Paine wrote something that convinced the colonies to declare their independence—though if they’re older than twenty-one their memory probably needs jogging. A few can even name what he wrote: Common Sense. And some can even incorrectly attribute a famous line to that pamphlet: “These are the times that try men’s souls.” With rare exceptions, most people don’t give a whit about Paine or what he wrote. But then, most people don’t care much for

Hyperinflation and the Destruction of Human Personality

Mises Institute ·

2024/02/19

Includes an introduction by Tho Bishop. Recorded in Tampa, Florida, on February 17, 2024. Special thanks to Liberty Villages and the Shrader family for sponsoring this event.

Who Benefits from Inflation?

Mises Institute ·

2024/02/19

Recorded in Tampa, Florida, on February 17, 2024. Special thanks to Liberty Villages and the Shrader family for sponsoring this event.

The Redistributive Effects of Monetary Policy

Mises Institute ·

2024/02/19

Recorded in Tampa, Florida, on February 17, 2024. Special thanks to Liberty Villages and the Shrader family for sponsoring this event.

Welcome: Inflation: Causes, Consequences, and Cure

Mises Institute ·

2024/02/19

Recorded in Tampa, Florida, on February 17, 2024. Special thanks to Liberty Villages and the Shrader family for sponsoring this event.

Massive Money Printing Will Accelerate as Debt Soars

Mises Institute ·

2024/02/19

The U.S. federal government published a December deficit of $129 billion, up 52% from the previous year. The private sector recession is clear as expenses continue to rise while tax receipts decline. If we look at the period between October and December 2023, the deficit ballooned to a staggering $510 billion. You may remember that the Biden administration expected a significant deficit reduction from its tax increases and the expected benefits of its Inflation Reduction Act. What Americans got was

The Left's Assault on Language Is an Assault on Freedom

Mises Institute ·

2024/02/19

George Orwell wrote, “The slovenliness of our language makes it easier for us to have foolish thoughts.” More colorfully and in a similar vein, it has been said that blurry words carry deplorable thinking the way mosquitoes carry malaria. It behooves us all to pay attention when people use words deviously or manipulatively not to inform but to conceal. How can people who are intolerant and authoritarian at every turn call themselves “liberal”? How can people wanting to regress the United States to

To the European Union: Don't Tread on Us

Mises Institute ·

2024/02/19

According to the latest polls, Europeans are expected to vote for political forces leaning toward the right side of the spectrum, often with euro-skeptic tendencies. We are talking about nine member states where these forces might emerge victorious, and another nine where they are projected to secure second and third positions. So, what path has the European Union taken to cause such significant dissatisfaction and a desire for such a radical change for the first time? The answer seems to be simple

An Open Letter to Walter E. Block

Mises Institute ·

2024/02/18

Block’s call for total war and the indiscriminate slaughter of innocent civilians in Gaza is the complete and uninhibited rejection and renunciation of the nonaggression principle that constitutes one of the very cornerstones of the Rothbardian system. Original Article: An Open Letter to Walter E. Block

Fiscal Rules Do Not Undermine Investment, But...

Mises Institute ·

2024/02/18

In the wake of the financial meltdown fifteen years ago, some countries placed strict limits on piling on public debt. Despite cries that this harms investment opportunities, the ”debt brakes” have worked well. Original Article: Fiscal Rules Do Not Undermine Investment, But Government Profligacy Does

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