Why does the dollar bill in our pockets have value? According to some commentators, money has value because the government in power says so. For other commentators the value of money is on account of social convention. What this implies…
The Economic Foundations of Freedom
Animals are driven by instinctive urges. They yield to the impulse that prevails at the moment and peremptorily asks for satisfaction. They are the puppets of their appetites. Man’s eminence is to be seen in the fact that he chooses…
It’s Wrong to Draft Women. It’s Also Wrong to Draft Men.
As in many previous years, this year’s National Defense Authorization Act (NDAA) is chock-full of terrible legislation slyly inserted into the NDAA for the purposes of concealing matters from the public. Both parties have been long guilty of this, with…
How “Cultural Distance” between Societies Can Hamper Economic Prosperity
Uncovering the cause of disparities in long-term economic performance across societies is of paramount importance to economists. Differences in institutional quality and geographical advantages are usually invoked as reasons for the divergence in economic performance. Although both factors possess explanatory…
Defaulting on the Debt Is the Moral Thing to Do
Raising the debt limit will only delay the inevitable while courting fiscal and monetary chaos: higher interest rates, cuts to social programs, a declining dollar, and price inflation. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by…
The Fed (and Central Planning) Are Fueling Substance Abuse
Karl Marx’s Communist Manifesto, included ten planks required to create a socialist dictatorship. Number five on the list is “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive…
Yellen Is Wrong. The US Government Doesn't Always Pay its Debts.
Let’s stop pretending default is unprecedented. The US defaulted on debts in 1934 and again in 1979. Today it engages in de facto default through financial repression and monetary inflation. This Audio Mises Wire is generously sponsored by Christopher Condon.…
Mark McGrath: The Adaptive Entrepreneurial Method: VUCA, OODA, IOT
Austrian economics is distinctive in its recognition and, indeed, embrace of continuous change: customer preferences change, competitors’ actions change, markets change, technology changes, prices change, business methods change. New knowledge is continuously created and accumulated. And Austrian economics equally recognizes…
Why Businessmen Make Such Unimpressive Politicians
In 2016, we watched time and time again as polls stated that people liked Donald Trump because he is a businessman and came from outside the world of politics. Dozens of factors led to his election but there is no…
COMMON SENSE: The Case for an Independent Texas
Bob covers some of the key points in his new pamphlet on restoring the Republic of Texas. Mentioned in the Episode and Other Links of Interest: Bob’s new pamphlet, COMMON SENSE: The Case for an Independent Texas Bob’s recent appearance…