The WTO Is Both Irrelevant and Unnecessary
The World Trade Organization (WTO) is in a state of crisis. When it comes to trade negotiations among large states like the US, India, and China, the WTO has been …
Mises Wire
Mises and the “New Economics”
[This article is excerpted from a talk delivered on February 22, 2020 at the Austrian Student Scholars Conference, hosted by Grove City College in Pennsylvania.] I. Introduction What a wonderful …
How Fractional Reserve Lending Makes Money Disappear
According to the popular way of thinking, it is held that banks are responsible for the expansion of lending also known as credit, and given that economic prosperity is associated …
The Origins of Nazism
[An excerpt from Omnipotent Government: The Rise of Total State and Total War, originally published in 1944 by Yale University as the first full-scale examination of German-style National Socialism as a …
Tax Burdens, Per Capita Income, and Simpson’s Paradox
How many times have you heard that higher taxes mean greater social welfare and economic development? The statement is backed up by a touch of popular wisdom: “More taxes, more …
Pennsylvania’s Anarchist Experiment: 1681–1690
In the vast stretches of America, William Penn envisaged a truly Quaker colony, “a Holy experiment…that an example may be set up to the nations.” In his quest for such …
Capitalism vs. Socialism
Is Bernie right to say America has become a socialist country? Jeff Deist joins guest host Judge Andrew P. Napolitano on Kennedy (on Fox Business Network) to discuss the “Capitalism …
Blago Is Free
On Tuesday, February 18, President Trump with excellent judgment commuted the fourteen-year prison sentence of former Illinois governor Rod Blagojevich, a.k.a. “Blago.” “We have commuted the sentence of Rod Blagojevich,” …
Mises and the Renaissance of Austrian Economics
Presented at Hillsdale College’s Conference Commemorating the Centenary of the Birth of Ludwig von Mises on September 10, 1981. Special thanks to Bettina Bien Greaves for making this important audio …
Marxist Dreams and Soviet Realities
The sharp contrast that Alexis de Tocqueville drew in 1835 between the United States and Tsarist Russia—”the principle of the former is freedom; of the latter, servitude”1—became much sharper after …