Mises Institute
The Mises Institute, founded in 1982, is an educational institution dedicated to advancing Austrian economics, freedom, and peace in the classical-liberal tradition. The website provides thousands of free books, hours of audio and video, and rare journals, biographies, and bibliographies of great economists. This podcast likely features lectures and discussions from the institute's resources.
Episodes
Austrian Economics, Gold, and the Fed’s Confidence Game
Mark Thornton opens with an interview from the Rothbard Graduate Seminar on what makes Austrian economics distinct, why the Mises Institute matters, and how Böhm-Bawerk, Mises, and Austrian business cycle theory help students understand prices, capital, interest rates, socialism, skyscrapers, and the K-shaped economy. He emphasizes Austrian economics as a coherent, deductive approach rooted in hum
Why the French Revolution Was Not a Libertarian Revolution
A common misconception about the French Revolution is that it was some sort of classical liberal or libertarian revolution.
Original article: https://mises.org/mises-wire/why-french-revolution-was-not-libertarian-revolution
The Anti-Flock Revolution
On this episode of Power and Market, Ryan, Connor, and Tho talk about the growing populist backlash to Flock cameras and the AI-powered security state. Are these simple private companies fulfilling a market for security, or a simple extension of federal surveillance?
Jason Arday and the DEI System that Just Won't Die
After the death of Jason Arday, it is appropriate to examine the academic system in higher education and see why we should not expect it to change.
Original article: https://mises.org/mises-wire/jason-arday-and-dei-system-just-wont-die
The Flock Camera Backlash Is a Very Good Sign
The backlash against automated license plate readers is not really about traffic cameras. It is about a public that no longer assumes the people in charge are acting in good faith.
Read the article here: https://mises.org/mises-wire/flock-camera-backlash-very-good-sign
2026 is the Year of Rothbard—Murray’s 100th birthday—and we’re celebrating by giving away free copies of The Case for a 100 Perc
The Seen and the Unseen Cost of a Government Grocery Discount
Mayor Zohran Mamdani has stated plans for five city-owned grocery stores to compete with private stores in NYC. However, as Henry Hazlitt and Frederic Bastiat before him have pointed out, the unseen costs in an initiative like this will outweigh the “seen” benefits.
Original article: https://mises.org/mises-wire/seen-and-unseen-cost-government-grocery-discount
The Innovation Mirage: Why DeepSeek and Kimi 3 Do Not Settle the Question of Chinese Tech Supremacy
There is no doubt that Chinese firms have made many advances in AI technology, but how far they can go in the future still is an open question.
Original article: https://mises.org/mises-wire/innovation-mirage-why-deepseek-and-kimi-3-do-not-settle-question-chinese-technological-supremacy
The Imaginary World of Fed “Independence”
The rhetoric of independence allows the Treasury and the Fed to cooperate when convenient and deflect blame when something goes wrong.
Original article: https://mises.org/mises-wire/imaginary-world-fed-independence
Scott Bessent: New Prince of the Yen?
On this episode of Power & Market, Ryan and Tho are joined by Dr. Jonathan Newman to discuss recent economics headlines, including interventions to prop up the yen, a bad jobs report, and troubling signs in bond markets.
Has Trump Already Lost the War with Iran?
Months ago, the administration said the war’s goals were regime change and the removal of all uranium from Iran. We never hear about that anymore because the war has failed to produce either goal. Instead, Trump calls for opening the Strait of Hormuz, which had been open before the war.
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard
Radio Rothbard mugs are available at the M
Government Intervention and Economic Inequality
Mark Thornton revisits his Mises University lecture on government intervention and economic inequality, arguing that intervention does not merely shrink the economic pie: it changes who gets the biggest slices. Drawing on Rothbard’s distinction between specific and general factors of production, Mark also shows how regulations, subsidies, tariffs, licensing, healthcare rules, and monetary policy r
The Return of Economic Gaslighting
Democrats learned the hard way that voters don’t like being told the economy is great when they’re struggling to afford everyday life. Now Republicans have chosen the same strategy.
Original article: https://mises.org/mises-wire/return-economic-gaslighting
Republican Party Displacement
Mark Thornton returns to Rothbard’s idea of major party realignment, arguing that ideology—not interest-group politics alone—drives long-term political change. He applies that framework to today’s Republican Party, tracing its roots in crony capitalism, protectionism, prohibitionism, and single-issue coalitions, while arguing that the modern uniparty supports inflation, war, runaway spending, debt
5 Things Anthony Fauci Teaches Us About the American Government
Fauci is back in the limelight after the release of his diary before a Senate hearing last week. And that’s good, because the career of Anthony Fauci can teach us a lot about where power actually resides in America and how our system really works.
Read the article here: https://mises.org/mises-wire/what-anthony-fauci-teaches-us-about-american-government
2026 is the Year of Rothbard—Murray’s 100t
Myths of American Healthcare
Much of the discussion around American healthcare ignores the fact that most of the American healthcare system is already a government healthcare system.
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard
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The Burritoflation Debate
On this episode of Power and Market, Ryan, Connor, and Tho discuss the social debate this week focused on Gen Z economic anxiety. How did a discussion over the price of burritos become a mask-off moment over generational contempt, foreign policy, and neoliberal economics?
The Declaration and Dinesh D’Souza’s “Revisionist History”
Dinesh D’Souza—a self-proclaimed opponent of “revisionist history”—reinterprets the Declaration of Independence through anachronism and equivocation, reading modern concepts of nationhood and equality back into 1776.
Original article: https://mises.org/mises-wire/declaration-and-dinesh-dsouzas-revisionist-history
When Death Is Cheaper Than Care: Mutual Aid for the Developing World
Mutual aid societies once were an important part of the US social landscape. Africans can benefit from the same movements—provided their governments get out of the way.
Original article: https://mises.org/mises-wire/when-death-cheaper-care-mutual-aid-developing-world
The US Supports the Mass Migration of Moroccans into Spanish Territory
In spite of the GOP’s feigned dismay over Morocco’s weaponization of migrants against Spanish exclaves in North Africa, US policy supports Moroccan expansionism in the region.
Original article: https://mises.org/mises-wire/us-supports-mass-migration-moroccans-spanish-territory
The Decline from Weight to Name: Monopolizing the Mint
Rothbard argues that 1931–33 was the last step in a long process rather than a sudden break. Government’s compulsory monopoly of coinage came first, defended by fears of private fraud that the long record of official debasement makes hollow. He answers the Gresham’s Law objection, then traces how the royal stamp shifted emphasis from a coin’s weight to its name.
Money and Freedom
Rothbard declines both the fashionable dismissal of gold and the restorationist call to return to the pre-1933 standard, which he judges too far decayed to have lasted. He then states his ethical premise plainly: the free market, extended to money itself. Against the claim that money is whatever government says it is, he warns that command of the unit of account is command of the whole society.
The Road Ahead
The transition problem. Rothbard weighs forcing deflation down to the existing gold stock against raising the gold price to match the dollar supply, defends deflation against its reputation, and sets out a six-point program. He parts with Mises and Hazlitt on sequencing, and closes by insisting that scholars must argue for what is true rather than for what is currently expedient.
The Decline from Weight to Name: Encouraging Bank Inflation
Why governments prefer money creation to taxation: the benefits are plain to whoever receives the new money first, while the losses stay hidden from everyone else. Rothbard traces how the two natural checks on a bank—redemption by outsiders and a run by its own clients—were widened by central banking, by suspensions of specie payment, and by campaigns to shame the public out of using gold day to d
Objections to 100 Percent Gold
The standard objections, taken in turn. If banks could not profit under 100 percent reserves, they may charge for their services as every other useful business does. And the fear of an inadequate money supply misses the classical lesson that any change in the quantity of money adjusts itself in purchasing power—leaving population, trade volume, and a stable price level as arbitrary criteria.
The 100 Percent Gold Tradition
Rothbard places the 100 percent program in the classical economists and the currency school, and in the Jeffersonian and Jacksonian political tradition—figures he argues historians have miscast as economically ignorant agrarians. He credits Condy Raguet with seeing before the British that deposits are money substitutes too, and recovers the neglected Charles H. Carroll and Isaiah W. Sylvester.
Professor Yeager and 100 Percent Gold
Leland Yeager, an advocate of freely fluctuating fiat money, concedes that a 100 percent gold standard would end reserve drains, forced contraction, and balance-of-payments anxiety — problems he attributes to fractional reserves rather than to gold. Rothbard quotes him at length, asks why he rejects what he has just praised, and pushes the reductio further: where exactly is the geographical bounda
The Dollar: Independent Name or Unit of Weight?
The conceptual core of the essay. Rothbard answers the charge that gold advocates want government to fix a price by rejecting its premise—“dollar” was never an independent entity but a name for a weight of gold. He shows how money is properly obtained only through production, and argues that a bare name could never have arisen as money on a free market.
100 Percent Gold Banking
The cardinal difference between Rothbard and most other gold advocates. He rejects the Chicago School’s view of 100 percent reserves as a convenient tool for managing the money supply, grounding his case instead in property rights: notes and deposits are warehouse receipts, and issuing more than the goods on hand is legalized counterfeiting. He answers Spahr’s bridge analogy and weighs the attract
Preface
Writing in 1991, Rothbard sets the essay in its original context: Bretton Woods as an international dollar standard masquerading as a gold standard. He contrasts it with the classical pre-1914 system, in which every currency was a defined weight of gold redeemable on demand, then recounts how the breakdowns of 1968 and 1971 tested Misesian predictions against an Establishment certain that gold wou
Inflation and Statistics: Economics Explains Them, Not the Other Way Around
Statistics can be interesting and informative, but only if one can properly understand them through sound economic theory.
Original article: https://mises.org/mises-wire/inflation-and-statistics-economics-explains-them-not-other-way-around
What Would Happen if Spain Had an Open Border with Morocco
Last week, more than 50,000 people illegally entered the Spanish exclave city of Ceuta, which normally has a population of only 80,000. Why not just open the border permanently?
Original article: https://mises.org/mises-wire/what-would-happen-if-spain-had-open-border-morocco
The Legacy of the Declaration
On the Declaration’s 250th anniversary, Larsen Plyler asks what the document was actually written to do. Taking Justice Clarence Thomas’s recent claim that it ranks among the West’s great anti-slavery documents as his starting point, Plyler argues that the Declaration’s legacy has been shaped less by Jefferson than by Lincoln and Martin Luther King Jr., who read a later conception of equality and
Why “Luck” Doesn’t Explain Wealth and Success in the Marketplace
Egalitarians assume people would be equal but for oppression or the random hand of luck, and that where injustice can’t be shown, luck alone justifies equalizing by force. Joshua Mawhorter turns the presupposition around. Drawing on Rothbard’s *Egalitarianism: A Revolt Against Nature* and Sowell’s *Discrimination and Disparities*, he argues that inequality is the normal condition of a world of sca
The Rothbardian Revolution Against Neoliberalism
Is neoliberalism a real intellectual tradition or just an insult? Tho Bishop argues it is real and precise: a program for a regulated market economy running on technocratically managed, socialized money. He traces it from Henry Simons’s 1934 “A Positive Program for Laissez-Faire” into the Mont Pelerin Society—where Mises watched enthusiasm for antitrust and credit expansion take root, and where th
You Can’t Have Free Markets and an Empire
Plenty of people say they like Ron Paul on the economy but part ways with him on war. Connor O’Keeffe argues that’s not a coherent place to stand. The warfare state—roughly $900 billion a year for the Pentagon alone, plus the intelligence agencies and veterans’ programs—is only fundable because of the two things most libertarians most want gone: the income tax and the Federal Reserve. Strip those
The Causes and Consequences of the French Revolution
On the 250th anniversary of the American Revolution, the French Revolution is being re-litigated again—the left holding it up as necessary progress, conservatives citing Burke to argue it proves free-market ideas end in blood. Ryan McMaken, drawing on Rothbard and Ralph Raico, rejects both. Liberalism’s role, he argues, was small and confined to the revolution’s first months; what followed owed no
Gold, Socialism, and the Crisis of the Dollar
Mark Thornton opens this triple-header episode with a live Radio Rothbard appearance from Mises University, joining Ryan McMaken to discuss inflation, the K-shaped economy, asset prices, debt, the dollar, and why Austrian theory explains what mainstream accounts leave out. Thornton argues that monetary inflation benefits asset owners and government-connected interests first, while working househol
The Myth of Free Banking in Scotland
Reviewing Lawrence H. White’s Free Banking in Britain, Murray Rothbard dismantles the claim that Scotland enjoyed a century of successful free banking before the Peel Act of 1845. Drawing on Sydney Checkland’s history, he shows that the Scottish banks pyramided credit on the Bank of England rather than standing on their own specie, suspended payment alongside England from 1797 to 1821, and let res
I Spent 28 Years Arresting Criminals. Rothbard Was Right All Along
Murray Rothbard realized the present system of punishment for committing crimes is both inadequate and unjust. We need to move to a system of restitution.
Original article: https://mises.org/mises-wire/i-spent-28-years-arresting-criminals-rothbard-was-right-all-along
The Dupes of War
No matter how legitimate the reasons might seem for going to war, the results are always horrific, and wars rarely, if ever, accomplish their stated purposes.
Original article: https://mises.org/mises-wire/dupes-war
Part III: A Böhm-Bawerkian Treatise, 1953–1955
Murray Rothbard’s project drastically changed in mid-1953. Unable to rely on Mises’s sparse treatment of production theory, Rothbard adopted his old Marshallian approach, focusing on an individual firm that faced fixed prices and restricted investment decisions. But he soon recognized the pitfalls of Marshallian partial equilibrium and discarded it for Austrian general equilibrium, emphasizing the
Ackowledgements
This book has been several years in the making. Originally we envisioned it as a collection of letters and unpublished monographs from the Rothbard Papers at the Mises Institute. It was only in 2020 that we realized that a coherent narrative was needed to organize and bring to life the mass of correspondence and other writings. Over the next several years we wrote the manuscript and revised it as
Part II: A Misesian Textbook, 1949–1953
Murray Rothbard’s economic perspective changed significantly in 1949 when he met Ludwig von Mises and read his magnum opus, Human Action. With the financial support of the Volker Fund, Rothbard accepted Mises’s offer to write a textbook rendition of his treatise. Early on, Rothbard evinced a thorough understanding of Mises’s monetary transmission mechanism and praxeological method. This allowed hi
Part V: Applying the Treatise, 1956–1962
The completion of the first draft of Man, Economy, and State enabled Murray Rothbard to move on to other activities and projects. He earned his doctorate in 1956 and reviewed papers and books for the Volker Fund, evaluating contemporary research using the body of economic theorems he had deduced. Focusing on the Chicago School, Rothbard criticized Israel Kirzner’s attempt to fuse Austrian insights
Part IV: The Rothbardian Theory of Interventionism, 1955–1956
Murray Rothbard used his general-equilibrium approach with its emphasis on economic interrelations to erect a systematic framework of interventionism. He started by elaborating further on the concept of the purely free market and developing a comprehensive welfare theory. He then proceeded to create a typology of government policy, formulate a novel theory of monopoly that distinguishes between a
Part I: Neoclassical Training, 1945–1949
Murray Rothbard started his career with a foundational training in neoclassical economics. At Columbia University, he learned from highly regarded professors and demonstrated a thorough understanding of the positivist method, Keynesian and Marshallian economic theory, and institutional empirical analysis. Crucially, Rothbard perceived the fact that critical errors existed in these disparate strand
Introduction
Murray N . Rothbard: The Making of an Austrian Economist is written for everyone interested in Rothbard’s economic theory and Austrian economics in general. We hope it will serve as a useful complementary volume to Man, Economy, and State by elucidating Rothbard’s many contributions and the process by which he developed an integrated structure of economic theory using the praxeological method.
Paradise Lost, Government Gained
After defeating the British in the American Revolution, Americans had the opportunity to set the country on a long path of freedom. They chose to empower government, instead.
Original article: https://mises.org/mises-wire/paradise-lost-government-gained
Universal Principles of Liberalism and the Politics of Race
In attempts to rectify what are seen as historical wrongs against certain groups of people, western governments have embarked on programs to engage in wrongs against other groups of people. The universal principles of liberalism are supplanted by policies sure to make matters worse.
Original article: https://mises.org/mises-wire/universal-principles-liberalism-and-politics-race
How Democratic Socialism Created California’s Housing Crisis
The democratization of urban planning, the politicization of the environmental movement, and the no-growth movement came together to erect enormous barriers to housing construction in California.
Original article: https://mises.org/misesian/how-democratic-socialism-created-californias-housing-crisis
Domestic Agorism: Eastern Europe’s Example of Libertarianism Without Academic Guidance
The up and down experience with free markets in Eastern Europe following the fall of the Iron Curtain shows that free markets, while undermining the state, do not operate apart from state interference.
Original article: https://mises.org/mises-wire/domestic-agorism-eastern-europes-example-libertarianism-without-academic-guidance
The Making of an Austrian Economist
Patrick Newman presents the book he and Joseph Salerno have written, Murray N. Rothbard: The Making of an Austrian Economist. He traces Rothbard’s path from a Columbia PhD steeped in the neoclassical synthesis, through his 1949 encounter with Mises and Human Action, to the writing of Man, Economy, and State—a project that began as a beginner’s textbook and grew into the treatise that stands beside
Stocks, Manure, Gold, and Socialism: Markets and Bad Ideas
Mark Thornton opens with an update on the “Stocks versus Manure” prediction contest, where agricultural stocks are beating the S&P 500 year to date. He then joins Maggie Lake on Wealthion to discuss gold, silver, mining stocks, Kevin Warsh, Fed policy, interest rates, the dollar, and why the long-term thesis for precious metals rests on debt, deficits, monetary inflation, and financial repression.
Faculty Panel: Policy and History
The Policy and History faculty panel takes student questions on the state of the movement and the prospects for freedom. Along the way the panelists remember Roger Garrison, the Auburn economist who drew several of them into Austrian economics and who passed away this past year; work through the newest ideas in the field; debate whether utilitarian or moral arguments win more converts; trace which
Faculty Panel: Theory and Method
The Theory and Method faculty panel takes questions from Mises University students. They work through the tough theoretical ones (whether "supply-shock" inflation is really monetary, what Hayek got wrong about prices, how the mainstream's new "causal inference" differs from praxeological causation, whether transaction-cost economics fits an Austrian framework), then turn personal: the moment each
What Do Austrians Think of Equilibrium?
What do Austrians think of equilibrium? Jonathan Newman's answer is "always and never." Rather than treating equilibrium as an unreachable ideal against which real markets are judged failures — the trap Mises warned against — he walks through a realistic market process asking at each step what has been settled and what remains open. That yields several distinct equilibrium constructs: the plane st
Interventionism and Inequality
Mark Thornton turns Austrian analysis on economic inequality itself—not whether the pie is growing, but how government intervention re-slices it. Drawing on Rothbard’s distinction between specific and general factors of production, he shows the mechanism: any protection, license, tariff, or subsidy enriches the insiders of the favored industry while forcing the displaced resources out into the unp
The Economics of AI
There is no separate “economics of AI,” Peter Klein argues, any more than there was an economics of the internet—there’s just economics, applied to specific goods and services. He demystifies what today’s models actually do (predict the next word), places them in a long history of “new economy” hype that never required new economic theory, and works through the industry with standard tools: subjec
Business Cycles and Skyscrapers
Record-breaking skyscrapers have a habit of opening just as the economy turns—a pattern Mark Thornton connected to Austrian business cycle theory in his work on the skyscraper curse. Lucas Engelhardt, Thornton’s coauthor on the 2015 response to the curse’s critics, explains the mechanism: artificially low interest rates raise land prices, and bid-rent theory shows why the effect concentrates downt
The Crisis in Higher Education
Everyone agrees higher education is in crisis—tuition rising ten times faster than the price level, administrative bloat, a looming demographic cliff, collapsing public confidence. Peter Klein argues these are symptoms, not the disease. Answering the claim that education is a special good beyond ordinary economic analysis, he shows that what markets actually deliver are discrete units of education
Austrian Economics in Business
What can economics actually teach you about running a business? From the mainstream, Per Bylund argues, very little—its models have no room for the entrepreneur at all. Austrian economics is a different matter. Working from Menger forward, Bylund lays out the sequence every business faces: costs come first and certain, value comes last and unknown. From that he draws the practical implications—why
The Cantillon Effect and the “K-Shaped” Economy
Money is never neutral. Jeffrey Degner works line by line through the passage of Cantillon’s Essay that made the case nearly three centuries ago—showing how new money enters the economy unevenly, enriching those who receive it first and squeezing everyone who receives it last. Cantillon named the losers precisely: those on fixed wages, and property owners locked into leases as their costs rise. De
Precursors of the Austrian School
Austrian economics did not begin in 1871. Mark Thornton traces its lineage back through the thinkers the mainstream dismisses: the Spanish Scholastics, who worked out subjective value and the effects of inflation while dismantling the case against usury; the anti-mercantilists who told Louis XIV to abolish his taxes; the Physiocrats; and above all Richard Cantillon, whom Rothbard called the father
Modern Monetary Theory
Modern Monetary Theory’s central claim is that a government with a printing press is never budget constrained — so the only real limit on spending is inflation, not debt. Jonathan Newman takes MMT on in its own words, working through clips of MMT proponents making their case before responding. He shows why “their deficit is your surplus” collapses once you ask how debt service is financed, why the
Game Theory
Game theory has Austrian roots—Oskar Morgenstern was Mises’s doctoral student—but the way it’s taught leads almost everywhere to the same conclusion: individuals left alone reach bad outcomes, so the state must intervene. Lucas Engelhardt argues the reasoning has a hole in it. Standard analysis treats the game as fixed, when real people are entrepreneurial: alert to opportunity, able to see a bad
The Anti-Slavery Advocates of Disunion
The anti-slavery disunionists and the abolitionists were some of the most critical of slavery and the most serious about ending it. For them, decentralization and secession were potential solutions not problems in ending slavery.
Original article: https://mises.org/mises-wire/anti-slavery-advocates-disunion
When Hate Speech is Defined as a Crime
Many progressives believe that certain kind of speech, or what they call “hate speech,” should be subject to criminal penalties, including imprisonment. Murray Rothbard understood that such laws would destroy our very freedoms.
Original article: https://mises.org/mises-wire/when-hate-speech-defined-crime
Austrian Economists You May Not Know
Paul Cwik and Shawn Ritenour trace what happened to the Austrian school after Menger, Böhm-Bawerk, and Wieser—as it spread beyond Vienna and produced a generation of thinkers most students never encounter. Philip Wicksteed, the Unitarian minister who dispensed with the supply curve; William Smart, who gave English readers Böhm-Bawerk; Herbert Davenport and Frank Fetter, the core of the American sc
How Norway Built the World’s Largest Fund and a Thriving Economy to Boot
Norway sits on large oil deposits, yet has managed to avoid the “resource curse” that has bedeviled so many nations that have abundant natural resources, but severely mismanage their economies.
Original article: https://mises.org/mises-wire/how-norway-built-worlds-largest-fund-and-thriving-economy-boot
Yes, Democratic Socialists Want Soviet-Style Control of Capital
While the democratic socialists are claiming to just want a society like they have in Denmark, their real aims are the seizure of all or most private property and especially private capital.
Original article: https://mises.org/mises-wire/yes-democratic-socialists-want-soviet-style-control-capital
Cronyism: The Origins of the Federal Reserve
Drawing on his new book Cronyism: Rise of the Corporate Estate, 1849–1929, Patrick Newman makes the case that the Federal Reserve is the signature example of policy that serves a special interest at the public's expense. He first dismantles the standard justification — modern research finds the pre-Fed panics were less severe than advertised, and the real problems traced to regulations like the br
Inflation and the Family
Jeffrey Degner brings monetary economics to a subject economists rarely touch: the family. Surveying the global retreat from marriage and childbearing, he notes that the standard explanations — job instability, financialization, rising inequality, weakened contracts — all point back to inflationary monetary policy. Drawing on his book Inflation and the Family, he traces how persistent money growth
Public Choice from an Austrian Perspective
Tate Fegley surveys the big ideas of public choice—politics analyzed with the tools of economics—and shows where an Austrian approach sharpens them. Rational ignorance, concentrated benefits and dispersed costs, rent-seeking, the transitional gains trap, budget-maximizing bureaucracies, and the logic of collective action each get a turn, illustrated with sugar tariffs, million-dollar taxi medallio
The Austrian Theory of Economic Progress
What makes a society prosper? Shawn Ritenour lays out the Austrian theory of economic progress, and its quarrel with mainstream growth theory. There is no single cause of prosperity, he argues—four “vehicles” drive it: the division of labor, capital accumulation, technological advance, and entrepreneurship. Conventional models can analyze each in isolation but miss the harder task of synthesis: ho
Race and Discrimination
Wanjiru Njoya applies praxeology to debates about race and discrimination. She starts with Mises on polylogism—the doctrine, shared by Marxists and Nazis alike, that logic itself varies by class or race—and his insistence that reason is common to all human beings. From there she turns to causation: drawing on Nozick, Walter Williams, and Thomas Sowell, she argues that research claiming discriminat
Repugnant Markets
Alvin Roth won a Nobel Prize for designing workarounds to markets society finds morally repugnant. Sandy Klein argues the workarounds aren’t needed. Taking Roth’s objections in turn—that such markets are too thin, that participants won’t reveal their preferences, that the offense others feel is a negative externality—she shows each dissolves under Austrian analysis: repugnance is simply a subjecti
Will You Ever Be Able to Buy a House?
Will Gen Z ever be able to buy a house? Timothy Terrell starts by clearing away the popular explanations—institutional investors buy under two percent of homes, the median first-time buyer is still 33, and a 1950s house was half the size, often without indoor plumbing. Then he turns to the causes that hold up: Federal Reserve inflation inflating home prices while first-time buyers sit on cash, zon
You Know How This Happens, Right?
Contemporary culture, with its fixation on careers, tends to downgrade the career of motherhood.
Original article: https://mises.org/mises-wire/you-know-how-happens-right
Tariffs vs. Free Trade
Economists have agreed on free trade for two centuries; the public and the politicians haven’t caught up. Lucas Engelhardt rebuilds the case from scratch—mutual benefit, comparative advantage, and the simple point that drawing a border between two traders destroys none of the gains—then takes apart the arguments for tariffs one by one. Most timely is his treatment of trade deficits: following Mise
Price Controls
With New York reviving a citywide rent freeze, Joseph Salerno returns to the economics of price controls. Following Mises and Rothbard, he shows how a single cap—on milk, say—triggers shortages that pull in control after control until the state is planning everything. He tells the story of postwar Germany, starving under price controls until Ludwig Erhard abolished them in a stroke, and then trace
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