With the recent legalization of hemp in the United States, one may ask the question of why it was ever illegal to begin with. Being a non-psychoactive form of cannabis, its uses were entirely industrial. One need not be a libertarian to recognize that the prohibition of hemp ranks among the most absurd and pointless laws our government passed in
One problem that consumers must consistently face is the problem of gaining reliable knowledge about products and services they may wish to buy. After all, knowledge in society is diffuse, and it’s hard to know which information is reliable. Is product X a quality product or not? And who can be trusted to give us reliable information on the
At 9:00 p.m. on Sunday, April 24, 1927, Sam Faulkner was already asleep in his parents’ Los Angeles home. The Faulkners were African-American, and they lived in the segregated black district of the city. Sam’s parents were sitting in the living room while their son slept. Their home was owned by their daughter, Clara Harris, who lived in the
In the United States, the newest model of any cell phone is usually going to be sold as faster and smaller. Even as large-screen phones have gained popularity, they depend on being thin and light to attract customers. Bulky phones don’t fit well in the back pocket of skinny jeans, and they aren’t as fun to hold while mindlessly scrolling through
Listen to the Audio Mises Wire version of this article. Since Joe Biden’s recent announcement that he’s throwing his hat in the 2020 presidential ring, his abysmal stance on the War on Drugs has been the source of a great deal of criticism, even from those inclined to support him. Four years ago, he claimed that he opposed the legalization of
Listen to the Audio Mises Wire version of this article. As candidates in the 2020 Democrat primary race try to outbid each other with grandiose promises to voters, the rising level of student loan debt makes for attractive campaign fodder. Making headlines with a plan aimed at addressing the student loan problem is Elizabeth Warren, whose loan
In March 1919, the Communist Party headed by Vladimir Lenin stated in its newly drafted program that among the party objectives was the complete abolition of money. The State Bank of Russia would be “abolished and turned into the central bookkeeping office of the Communist society.” In theory, the ruling party could have simply decreed money out
Listen to the Audio Mises Wire version of this article. After the collapse of the housing market in 2008, professional historians gave birth to a new sub-field of history usually referred to as “the new history of capitalism.” Economic history is hardly novel, but the new history of capitalism takes the approach that capitalism is the “thing” that
In 1992, Mark Young was sentenced to life in prison for trafficking marijuana. His conviction came from the testimonies of two other convicted marijuana dealers who turned on Young in order to get their own sentences reduced. The two informants, Ernest Montgomery and Claude Atkinson, depicted Young as a marijuana kingpin — the primary broker of a
When Israel Leija, Jr. was picking up food at a drive-through in 2010, police officers approached his car to arrest him. Leija was guilty of violating his probation, and when the officers informed him that he was under arrest, he sped away. For the next twenty minutes, Leija led the police on a high speed chase. During the chase, the police used
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.