Mises Wire

From the Jacksonians to the Marxists, political theorists have understood that there is something unique about "small industry" between big business and propertyless workers. 

Mainstream economics and finance theories hold that markets immediately adjust to new information. While market prices do reflect available information, the Efficient Market Hypothesis (EMH) fails to explain the boom-bust cycle as well as Austrian analysis.

The boom-and-bust cycle isn’t limited just to so-called advanced economies. It also has become a way of life in the economies of tropical countries and other emerging economies.

When we think of the need for more electricity to meet a weather-related surge in demand, we think more generation of power. However, entities like Bitcoin, which is a huge electricity consumer, can also curtail enough operations to put more power back into the grid.

Murray Rothbard believed that national self-determination was essential for individual freedom. Rothbard also did not make the error of connecting a nation to a government. One was not the other.

Like so many intellectuals, Hilary Putnam is a good philosopher but a poor judge of good economics. In this week’s Friday Philosophy, Dr. David Gordon dissects Putnam’s confusion between facts and values.

In his recent address at the Davos Conference, Argentina’s president Javier Milei told those attending why Argentina has had one inflationary crisis after another. Milei says that Austrian economics can end the nightmare.

If one man may legally own another, then he should likewise have the right to disown this property. To deny this right by law involves simultaneously affirming the right of one human to own another as his property but not the right to stop owning another human.

There is a reason why economic freedom also results in a better life for all, and Austrian economists know that better than anyone else.

Pundits are claiming that the demise of the Washington Post will weaken democracy and provide a boost for government corruption. As usual, the pundits are badly mistaken.