Archive for Mises Daily

Four Reasons the Bernanke-Yellen Asset-Price Inflation May Be Nearing Its End

6923Mises Daily Friday by Joseph Salerno:

Once interest rates begin to rise — and rise they must, whether as a result of Fed policy or not — the end of the asset price inflation will be at hand. The result will be another financial crisis and accompanying recession.

An Austrian Economist Reports From a Mainstream Economics Conference

6922Mises Daily Thursday by Christopher Westley:

Christopher Westley reports from this year’s National Association of Business Economists Convention. He finds that the mainstream’s intellectual blinders are firmly in place, and that the “fatal conceit” Friedrich Hayek wrote about in 1988 is alive and well in 2014.

Is the Surge in Capital Goods Orders Due to Malinvestment?

6921Mises Daily Tuesday by Frank Shostak

Orders in capital goods have been going up since 2009. Normally, capital goods purchases suggest economic growth, but if the orders are a result of easy money, the purchases point not to wealth creation, but to a bubble.


The Rothbard-Paul Message

2801Mises Daily Tuesday by Darrell Falconburg.

A young libertarian tells where the liberty movement should go.


Rothbard on Self-Defense and War

back of a security guardMises Daily Tuesday by David Gordon:

Contrary to the claims of many advocates for expanding the already-huge war apparatus of the United States, Libertarians in general — and Murray Rothbard in particular — are not pacifists, but reject the killing of innocents and other unjustified forms of military aggression.

How Much Is Obama’s War on ISIS Going to Cost?

rsz_3040508093_a66a92cc59_o_1Mises Daily Tuesday by Daniel McAdams:

How much is Obama’s war on ISIS Going to Cost you? You don’t want to know.

How Saving Grows the Economy

comic2Mises Daily Friday by Dan Sanchez:

Dan Sanchez examines Irwin Schiff’s timeless comic book on how savings, innovation, and risk are the building blocks of productivity, progress, and wealth.

Left and Right Agree: War Is Popular

toys2Mises Daily Thursday by Andrew Syrios

The occasional eruptions of anti-war positions from conservatives and progressives are more a function of what political party controls the White House than of any principled ideological stance. Don’t expect sustained opposition to war to come from either side.

Murray N. Rothbard: The Man and His Work

murrayoct2Mises Daily Thursday:

Lew Rockwell and Tom Woods discuss Muray Rothbard, his life, writings, students, and career.


The Politics of “Free” Trade Agreements

Protesters Demonstrate Against WTO - Day 3Mises Daily Tuesday by Carmen Elena Dorobăț:

Anyone reading modern day trade agreements would not be surprised to discover that they focus less and less on reducing import duties, and more on developing national industries, promoting exports, and ensuring domestic policy space.


What the Feds and Bernie Madoff Have in Common

6912Mises Daily Tuesday by Brandon Dutcher.

Not unlike governments, ponzi schemer Bernie Madoff used his victims’ money to exhibit his “generosity” through charitable giving projects.


Sports Stadiums: Temples to Crony Capitalism

stadium in lightsMises Daily Friday by Salmaan Khan:

Although it’s clear that they offer no economic net benefit, American cities are building taxpayer-funded sports stadiums every chance they get. Billionaire team owners and politicians benefit greatly while ordinary taxpayers do less well.


Scotland and the Hoppean Blueprint for Secession

glasgow2Mises Daily Thursday by Andrei Kreptul

In its secession effort, Scotland should have employed the methods recommended by Hans-Hermann Hoppe. That is, it should have been done in a decentralized and piecemeal fashion. However, such efforts would have required the Scots to abandon their welfare state.

Subsidies, Market Prices, and the 2014 Farm Bill

farm2Mises Daily Wednesday by Dick Clark:

2014’s new US Farm Bill eliminates many direct subsidies to farmers, while replacing them with subsidized insurance programs. This will lead to higher costs for taxpayers and distorted markets in the future.

Scottish Referendum Gives Reasons to be Hopeful

cat_flagMises Daily Tuesday by Ron Paul:

Devolving government into smaller units promotes economic growth. The smaller the size of government, the less power it has to hobble free enterprise with taxes and regulations.

Just because people do not wish to live under the same government does not mean they are unwilling or unable to engage in mutually beneficial trade. By eliminating political conflicts, secession could actually make people more interested in trading with each other. Decentralizing government power would thus promote true free trade as opposed to “managed trade” controlled by bureaucrats, politicians, and special interests.

Economic Isolationism in The Walking Dead

Back To The DeadMises Daily Tuesday by Mark Tovey:

When dealing with people in a potentially hostile environment (such as a zombie apocalypse) how do we decide if we should trade with strangers or kill them? It turns out time preference and the division of labor have a lot to do with it.


In Mises’s Birthday: Rothbard on Mises’s Contribution to Understanding Business Cycles

mises2Mises Daily Monday: Rothbard explains how Mises laid the foundation for Austrian Business Cycle Theory:

In The Theory of Money and Credit, Mises provided the basics for the long-sought explanation for that mysterious and troubling economic phenomenon — the business cycle.


The Japanese Deflation Myth and the Yen’s Slump

yen2Mises Daily Monday by Brendan Brown

The Japanese government claims it’s still fighting deflation, although there are no signs of it in Japan. Through a mixture of chance, habit, and economic sclerosis, prices have been stable in Japan, but Abenomics makes the future of the yen anyone’s guess.


Regulate It First, Learn About It Never

Conference MeetingMises Daily Friday by Gary Galles:

Politicians and regulators usually don’t know what they don’t know about everything from health care to your small business, but that sort of compound ignorance won’t stop them from regulating the minutiae of everyday life and commerce.


Patrick Barron: Currency Wars and the Death of the Euro (mp3)

euro2Jeff Deist and Patrick Barron discuss what’s going on in the EU, how Germany in particular suffers from being yoked to the other Eurozone nations, and what the comeback of the Deutsche Mark might mean for Europe—and for America.

Patrick Barron is a private consultant in the banking industry. He teaches in the Graduate School of Banking at the University of Wisconsin, Madison, and teaches Austrian economics at the University of Iowa.