Labor Unions Are Anti-Labor

Message of a worker despair for the failure of his factory, now abandoned.Mises Daily Monday by George Reisman.

Many Americans, perhaps a substantial majority, still believe that labor unions are fundamental to the well-being of workers. In fact, labor unions work to prevent increases in the productivity of workers, which is ultimately the only way to increase real wages.

Video: Robert Higgs Explains How War Leads to Big Government

Archived from the live broadcast, this Mises University lecture was presented at the Mises Institute in Auburn, Alabama, on 24 July 2014.

Video: Tom Woods Explains The Robber Barons and the Progressive Era

Archived from the live broadcast, this Mises University lecture was presented at the Mises Institute in Auburn, Alabama, on 24 July 2014.

Gold, Silver, and the Future of the Dollar

6822Mises Daily Weekend by Mark Thornton:

In this interview, Mark Thornton discusses the future of the US dollar as the world’s reserve currency and how both gold and silver and can be part of a return to sound money.

Mises Weekends: Soviet Defector Yuri Maltsev on the Loss of Freedom in America

Jeff Deist and Yuri Maltsev discuss not only his defection from the former USSR, but also his defection from the Marxist economic mindset, the crime of reading Hayek, why so many westerners still have a naïve, uninformed, and romantic view of socialism, how the Ruble was nothing more than a fiat rationing coupon, and why people with contempt for consumerism never visited a Soviet grocery store.

Now in Italian: ‘How Consumers Rule In a Free Economy’

Chris Westley’s article explaining how Carl Menger put consumers front and center in determining value has been translated into Italian: “I consumatori sono i re in un’economia di libero mercato.”

Video: “Hayek and Keynes: Head to Head” with Roger Garrison

Archived from the live broadcast, this Mises University lecture was presented at the Mises Institute in Auburn, Alabama, on 23 July 2014.

Live Stream, Friday at Mises U: Morning Lectures

Friday July 25 (Central Daylight Time)
9:00 - 10:00 a.m.—Common Objections to Capitalism | Terrell
10:15 - 11:15 a.m.—Hayek and Friedman: Head to Head | Garrison
11:30 a.m. – 12:30 p.m.—Gold Standards: True and False | Salerno

Should We Build a McDonald’s on the Rim of the Grand Canyon?

canyon2Mises Daily Friday by Ryan McMaken

The Navajos want to develop the southern rim of the Grand Canyon, but environmentalists are unhappy. There’s little private property involved, so don’t blame the capitalists, and it’s worth remembering that much of the tourist economy in the West is a subsidized invention of the federal government.

Shinzo Abe Got His Butter, Now Wants Guns

220px-Robert_Zoellick_meets_Shinzo_Abe_2006-01-23The guns and butter model is used by economists to contrast the costs of spending resources on domestic-economy amenities (butter) or on foreign policy and war (guns). Every government knows, however, that if it plays its cards right, this need not be one or the other. Indeed, the United States with its central banks and its high worker productivity has perfected the art of spending endless amounts of taxpayer money on both guns and butter. Another name for this is the “warfare-welfare state” in which some interest groups (such as low-income voters, agricultural interests, and Social-Security recipients) are bought off with lots of domestic spending, while other interest groups (nationalistic voters and weapons manufacturers and states with lots of military bases) are bought with endless spending on the military. This is an especially flawless model if you have a central bank like the Fed that can just keep the free money coming with seemingly no end in sight.

China has exploiting this model to the fullest in recent years, and now Japan, after years of focusing on free butter, has decided to spend more on the guns.

Shinzo Abe, the author of Abenomics (see here for a detailed takedown of Abenomics) has committed his government to numerous rounds of fiscal and monetary stimulus, plus tax increases that funnel plenty of money to his political supporters.

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Video: Robert Murphy Presents Contrasting Views of the Great Depression

Archived from the live broadcast, this Mises University lecture was presented at the Mises Institute in Auburn, Alabama, on 23 July 2014.

Video: Robert Higgs on the FDA and Consumer Welfare

Archived from the live broadcast, this Mises University lecture was presented at the Mises Institute in Auburn, Alabama, on 23 July 2014.

Full Photo Album for Mises U 2014

We’re still adding photos there, but you can see what’s been added so far at our Picasa page for Mises U 2014.

How Government Uses “Efficiency” as an Excuse to Steal

6818Mises Daily Thursday by Gary Galles:

Only individuals can determine what is efficient for themselves, and they will only engage in voluntary exchange when they believe it is the efficient thing to do. Some economists, and most governments, prefer to use other standards of efficiency such as “potential compensation” which leads to government mischief.

Highlights from Tuesday at Mises U

Tuesday was another full day of lectures and talks at Mises University. for photos, see here and here. We’ve added 8 more lectures from Tuesday in mp3 format to the Mises U 2014 archives, including:

The Anarcho-Pacifism of Leo Tolstoy by 

The Economics of Fractional Reserve Banking by 

The Place of Finance and Financial Markets in a Free Society by 

Careers for Austrians by 

Monopoly, Competition, and Antitrust by 

Product Regulation by 

Calculation and Socialism by 

Entrepreneurship by 

Tuesday at Mises U, Afternoon Lectures



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Photos from Tuesday at Mises U (Lunch and Morning Lectures)


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How to Start Reforming the Federal Reserve Right Now

6817Mises Daily Wednesday by Brendan Brown:

All too many of the reforms being proposed for the central bank are just more of the same central planning. Real reform of the Fed begins with setting interest rates free, the abolition of deposit insurance, and ending the Fed’s position as lender of last resort.

Polish Translations of Mises Daily articles at Instytut Misesa

scotThe good people at the Polish Mises Institute (Instytut Misesa) inform me that my recent article on Scottish secession has been translated into Polish.

There are numerous other translations there as well, such as this one, a QJAE article by Thomas DiLorenzo.

What’s Next for Obamacare in the Courts?

CaduceusJacob Huebert, author of Libertarianism Today, summarizes the current situation:

Two federal appeals courts issued conflicting decisions about the future of ObamaCare on Tuesday.

In one, the Halbig v. Burwell decision, the U.S. Court of Appeals for the D.C. Circuit ruled that the Affordable Care Act means what it says: ObamaCare insurance subsidies are only available in states that have established their own health-insurance exchanges, and an IRS rule that tried to make these subsidies available in all states – even those, such as Illinois, which did not create their own insurance exchanges – is invalid.

In the other case, King v. Burwell, the U.S. Court of Appeals for the Fourth Circuit, which sits in Virginia, reached the opposite conclusion, ruling that Congress intended to make subsidies available in all states – even though that’s not what the law says – and therefore the IRS rule could stand.

The decisions are important because, as Newsweek has put it, if the IRS rule is ultimately struck down, the entire ObamaCare system “could come crashing down in the 36 states that have opted not to run their own exchanges.”

But what happens now, with conflicting decisions from different courts?

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