The end of alcohol prohibition in 1933 and the subsequent War on Drugs might just be what spreads a widespread revival of libertarianism and Austrian Economics. On January 17, 1920, America embarked on an official policy of prohibiting alcohol nationwide backed by the Eighteenth Amendment to the Constitution and the Volstead Act. The idea had been
Listen to the Audio Mises Wire version of this article. On February 10 the stock markets were at all-time highs, with the Dow 30 at almost 30,000. The unemployment rate was at an all-time low and interest rates around most of the world were at all-time lows. With interest rates near zero for an entire decade, the value of stocks, bonds, real
Thanks to the great John Tamny for shining a positive light on our current circumstances in “ Where Are All the Austrian Scholars’ Yachts? ” (RealClearMarkets, April 30). We do share a long-term optimistic view of capitalism, and Ludwig von Mises himself said that access to stock markets and financial markets was a defining characteristic of
Q: We’re in a very odd situation right now in terms of evaluating the state of the economy. We can see there is rising unemployment and there is likely to be a wave of missed mortgage and rent payments. Is this all just due to the government-mandated “shutdowns” or are there deeper economic issues here? A: Extremely odd! The rising unemployment
Kratom is a natural drug based on the leaves and extractions of a plant of the same name that come from Southeast Asia. It is said to treat a variety of ailments and conditions, most notably withdrawal symptoms from heroin and other addictive drugs. It is also considered a mood and energy booster and is also used recreationally. The product
Listen to the Audio Mises Wire version of this article. In an attempt to maintain the lockdown and their authority over our lives, politicians, health experts, and the mainstream media have been misusing some unusual analogies to describe the current economy. By using these analogies, our political overlords hope they can continue to keep the
When an economic crisis hits, everybody from the Fed chairman to the man on the street knows that the Fed must print more money and reduce interest rates and that the government must spend more money and go deeper into debt. This is seen as necessary to “fill the gap” left by the private sector. This approach is entirely wrong. In fact, it is
The year 2020 is one of the most disrupted times in at least the last half century, maybe longer. Global protests and riots, the covid-19 virus, lockdowns, and police killings of unarmed citizens. Add to that widespread rioting, looting, arson, homelessness, and destruction of property, including the tearing down of statues. This chaos in the
Since before covid-19 and the lockdown, I have written articles that touch on the purpose and importance of personal savings, and more importantly, why the lack of personal savings was going to make an economic crisis in the year 2020 potentially tragic for most Americans. As a result, I have been interviewed a couple of times specifically on the
Marijuana, i.e., cannabis, is now legal in eleven states for recreational use, thirty-three states for medical purposes, and another sixteen states have decriminalized it (usually fines for possession of small amounts). The upcoming election will see several legalization ballot measures, including recreational use legalization in Arizona, Montana,
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.