Mises


Socialism: The Calculation Problem Is Not the Knowledge Problem

By Robert P. Murphy Mises Institute March 19, 2018   Socialism: The Calculation Problem Is Not the Knowledge Problem   At the Mises Institute’s upcoming Austrian Economics Research Conference (AERC), there will be a panel commemorating the 30thanniversary of the second debate over socialist calculation. This second debate began with Israel Kirzner’s 1988 Review of Austrian Economics article that analyzed the original debate […]

Socialism: The Calculation Problem Is Not the Knowledge Problem

The Agony of the Welfare State, Finnish Style

The Agony of the Welfare State, Finnish Style

By Joseph T. Salerno Mises Institute September 25, 2017   The Agony of the Welfare State, Finnish Style   The title of this post—minus the reference to Finland—is shamelessly copped from a prescient essay that Ludwig von Mises wrote in 1953.  In his article Mises pointed out that in Great Britain and Europe, the system of progressive taxation […]


The Post-Brexit Boom is Baffling Elites

By George Pickering Mises Institute September 19, 2016   The Post-Brexit Boom is Baffling Elites   Can the Bank of England Really Take Credit for the Post-Brexit Boom? In the months leading up to June’s Brexit referendum, the British public found themselves bludgeoned by a series of increasingly dire warnings concerning the consequences of a vote […]

The Post-Brexit Boom is Baffling Elites

Clinton's Pay-to-Play Is the Natural Consequence of Big Government

Clinton’s Pay-to-Play Is the Natural Consequence of Big Government

By Peter G. Klein Mises Institute August 26, 2016   Clinton’s Pay-to-Play Is the Natural Consequence of Big Government   Hillary Clinton has been taking heat for her relationship with the Clinton Foundation. Did individuals and firms making large donations to the Foundation, or paying large speaking or consulting fees to Bill Clinton, get preferred access to […]


Why Social Welfare Programs and Democracy Cannot Co-Exist

By Ryan McMaken Mises.org August 16, 2016   Why Social Welfare Programs and Democracy Cannot Co-Exist   Writing in his 1922 treatise Socialism, Ludwig von Mises expressed support for democracy, but took a very limited view. Specifically, he suggested the only purpose of democracy is to “make peace, to avoid violent revolutions.” That is, democracy is purely a means […]

Why Social Welfare Programs and Democracy Cannot Co-Exist

Why Brexit Is Better for Britain

Why Brexit Is Better for Britain

By Thorsten Polleit Mises.org June 20, 2016   On 23 June 2016, the people of Great Britain will vote whether to stay in the European Union (EU) or leave it. The pro-EU camp argues that leaving the EU will cost Britain dearly in terms of economic prosperity, financial stability, and domestic security. In fact, people are […]


The Keynesians Stole The Jobs

By Ron Paul Ron Paul Institute June 7, 2016 The Keynesians Stole The Jobs   Late last week the markets were shocked by a surprisingly bad May jobs report – the worst monthly report in nearly six years. The experts expected the US economy to add 160,000 jobs in May, but it turns out only […]

Ron Paul

These Two Scholars Discovered the Primal Source of War

These Two Scholars Discovered the Primal Source of War

By Dan Sanchez Foundation for Economic Education June 2, 2016   These Two Scholars Discovered the Primal Source of War An Austrian Economist and an American Journalist     The breakout of World War I upended many lives, including those of two great thinkers: the Austrian economist Ludwig von Mises and the American journalist Randolph […]


What Would Ludwig von Mises Do in Venezuela?

By Tho Bishop Mises.org May 27, 2016   What Would Ludwig von Mises Do in Venezuela?   The crisis in Venezuela is the most modern illustration of the horrific consequences of socialism and the devastating reality of hyperinflation. What makes this disaster all the more infuriating is that it could have been avoided with a basic […]

What Would Ludwig von Mises Do in Venezuela?

Including the Ocean Floor, the Feds Own Much More Land than You Think

Including the Ocean Floor, the Feds Own Much More Land than You Think

By Mark Brandly Mises.org March 18,2016   Including the Ocean Floor, the Feds Own Much More Land than You Think The Importance of Economic Calculation   In “Economic Calculation in the Socialist Commonwealth,” Ludwig von Mises challenged the socialists to explain how economic calculation could be performed in a socialist economy absent prices. Mises concluded […]


Santa Needs Prices

By Robert P. Murphy Foundation for Economic Education December 15, 2015   Santa Needs Prices Christmas, Calculation, and Chaos     A superficial observer might argue that Santa Claus has no relevance to economics, because in Santa’s world, there is no scarcity. But Santa, though magical, is not omnipotent. He faces constraints. First, Santa only delivers […]


There’s No Such Thing as Excessive Profits

By Robert P. Murphy Foundation for Economic Education October 23, 2015   There’s No Such Thing as Excessive Profits Problems with a “Fair Rate of Return”     If you want to do business in Venezuela, you will have to let the government do your bookkeeping to make sure you aren’t making too much. Venezuelan president Nicolás […]