Mises Media

America’s industrial revolution didn’t just happen. It came about because of the free market initiatives that came from the Andrew Jackson presidency.

Original article: https://mises.org/mises-wire/how-jacksonians-caused-americas-industrial-revolution

On the latest episode of Minor Issues, Mark Thornton discusses the recent whiplash in precious metals: historic run-ups, sharp pullbacks, and renewed claims of manipulation. He also explains how, as war and liquidity pressures evolve, markets pivot back to credit stress, rising interest rates, and ballooning government debt. What will central banks do next?

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Foreign policy scholar Brandan Buck join Ryan McMaken to talk about whether or not a US tactical victory in Iran can lead to a strategic victory as well. And what does victory for the Iranian state look like? Are there any prospects for a lasting peace? 

Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard

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Bob untangles two arguments that even Austrian economists sometimes conflate: Mises' calculation problem and Hayek's knowledge problem. Then, he explains why the distinction matters, especially in light of recent claims that AI and modern computing could finally make central planning viable.

Related:

The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

Drawing on Rothbard's writings on money and central banking, Murray Sabrin makes the case that inflation is a hidden tax, the Federal Reserve is neither independent nor beneficial, and that ending central banking is the unfinished business of the American Revolution.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Dr. Per Bylund unpacks Rothbard's concept of the capitalist entrepreneur as the economy's true mover and shaker: the figure who not only forecasts future consumer demand but puts real capital behind those forecasts, bearing uncertainty and driving the structure of production.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Drawing on Rothbard's essay on inequality and the division of labor, Dr. Lucas Engelhardt argues that human diversity is the very foundation of comparative advantage and prosperity, and that billionaires arise either by serving large numbers of people through the market or by extracting wealth through political connections.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Dr. Tate Fegley uses Rothbard's theory of demonstrated preference to dismantle the mainstream public goods framework, showing that claims of market failure and welfare improvement by the state have no scientific basis because they contradict what individuals actually reveal through their choices.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Drawing on Man, Economy, and State, Dr. Jonathan Newman walks through Rothbard's theory of price formation and competition, showing that prices reflect subjective preferences, not seller greed, and that the only consumer-harming monopolies are those created by the state.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

The TSA stories, especially at Atlanta, are illustrations of interventionist non-intervention: non-delivery of promised, paid-for, and monopolized service.

Original article: https://mises.org/mises-wire/atlanta-tsa-and-test-case-interventionist-non-intervention

On this episode of Power and Market, Ryan, Tho, and Connor talk about the historic waits thanks to DC's monopoly on airport security, and Joe Kent's resignation over the Iran War.

When accusations of rape and assault were made against Duke University’s lacrosse team in 2006, both the Durham City Police and District Attorney Michael Nifong engaged in law breaking to indict three young men that clearly were innocent.

Original article: https://mises.org/mises-wire/durham-police-and-prosecutors-committed-numerous-crimes-duke-lacrosse-case-and-escaped-meaningful-punishment

Anyone who cares about American greatness must also refuse to allow us to become the kind of society that shrugs off the crimes our government commits in our name and with our money.

Read the article here: https://mises.org/mises-wire/immorality-trumps-war-iran-matters

Be sure to follow the Guns and Butter podcast at https://Mises.org/GB

The federal government heavily subsidizes certain politically-connected food growers in the name of “protecting our food supply.” Actually, the government protects the livelihood of those that promote unhealthy foods.

Original article: https://mises.org/mises-wire/cheap-calories-expensive-consequences-how-federal-policy-contributes-chronic-disease

Mainstream finance regularly confuses finance, insurance and betting. The Austrian School provides the tools to understand their differences.

Original article: https://mises.org/mises-wire/mistaken-identity-prediction-markets

Murray Rothbard’s system was built upon the natural rights of individuals, and tying liberty to property and ownership, not collectivism.

Original article: https://mises.org/mises-wire/individualism-rothbards-natural-rights-libertarianism

Beyond the initial oil shock, the Iran war is also laying the foundation for ongoing monetary inflation and price inflation, with no real change to the US regime’s commitment to easy money.

Original article: https://mises.org/mises-wire/iran-war-brings-more-inflation-and-new-strength-yuan

Professor Joseph Salerno traces how Rothbard's mastery of the praxeological method led him to the controversial but logically airtight conclusion that business cycles have a single, exogenous cause and a single cure.

The Murray N. Rothbard Memorial Lecture, sponsored by Steve and Cassandra Torello.

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

America has a long history of vibrant small business. But small business went into decline in the twentieth century, and it wasn't just due to large scale industrialization. Government has played a big role.  

Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard

Radio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off

Hayek and Mises warned that centrally planned economies fail, and that intervention breeds inflation, instability, and boom-bust cycles. Yet socialism is trendy again, and politicians still think they can “manage” the economy. Ryan McMaken joins John Stossel to explain why Hayek and Mises matter now.

In this 1960 essay, Murray Rothbard warns critics of scientism not to concede the very term science to positivist methodology. He reclaims scientia as “correct knowledge,” and defends the idea that economics and the social sciences can be rigorously scientific through sound reasoning about purposeful human action, without pretending to be physics.

Professor Lucas Engelhardt examines how mainstream economics has deliberately abandoned the history of economic thought, and why Austrian economists must keep teaching and re-teaching the great debates of the past.

The Ludwig von Mises Memorial Lecture, sponsored by Don Printz.

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

In memory of Roger Garrison, Bob walks through Garrison's famous capital-based macroeconomics diagrams, showing how they translate the Mises-Hayek theory of the boom-bust cycle into the language of modern macroeconomics.

Related:

The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

On this episode of Minor Issues, Mark Thornton replays two short interviews: one recorded with Daniela Cambone weeks before the outbreak of war in the Middle East, and another with Dunagun Kaiser recorded days ago as the conflict escalates. Mark breaks down why precious metals are unusually volatile, how war and interventionism collide with inflationary fiat regimes, and why rising interest rates and commodity prices point to a more dangerous long-run trend. He also connects the dots between the Fed’s “liquidity” talk, a deeper leverage problem in finance, and the way wars can be used to divert attention from e...

Combining binary and triangular interventions, the state coercively taxes citizens to pay for its services, monopolizes certain services, and then is incentivized to engage in paid non-delivery.

Original article: https://mises.org/mises-wire/its-not-anarcho-tyranny-its-interventionist-non-intervention

Dr. Catherine Pakaluk connects the dots between fiat money, the sexual revolution, and collapsing birthrates, arguing that a culture built on “sterile” choices can’t sustain real, long-run economic growth.

The Henry Hazlitt Memorial Lecture, sponsored by Murray and Florence M. Sabrin.

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Jesús Huerta de Soto traces the Austrian school's intellectual roots from the Spanish scholastics to Rothbard, making the case that anarcho-capitalism is the natural endpoint of the classical liberal tradition.

The Ludwig von Mises Memorial Lecture, sponsored by Yousif Almoayyed.

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Full Text version of the Lecture (Submitted by Prof. Huerta de Soto):

Thank you very much to the Mises Institute and Joe Salerno f...

The Ralph Raico Memorial Lecture, sponsored by Murray and Florence Sabrin. Presented at the Mises Institute in Auburn, Alabama.

Below is a written version of the lecture (supplied by Ryan McMaken).

I am very honored to be asked by Joe to deliver the Ralph Raico memorial lecture at this conference, and this means a lot to me because I have for many years been an enthusiast of his work, and especially in his work on the history of liberalism. Moreover, Raico largely specialized in European history, and I think his work is especially important for...

Neo-Malthusian Paul Ehrlich recently passed away, but not before his false doomsday claims made his a very wealthy man. 

Original article: https://mises.org/mises-wire/remembering-paul-ehrlich-even-if-we-would-rather-not

Leftists sarcastically asking where the money for this war will come from are right about the GOP’s hypocrisy, but wrong to imply that it actually means there's plenty to spend on all these government programs. We can’t afford any of this.

Read the article here: https://mises.org/mises-wire/no-we-cannot-afford-war-iran-either

Be sure to follow the Guns and Butter podcast at https://Mises.org/GB

Generations of scholars come and go; a few, including Roger Garrison, make their mark on the field and inspire future generations to do the same.

Original article: https://mises.org/power-market/roger-garrison-and-sustainable-growth-austrian-school

As we continue to celebrate the centennial of the birth of Murray Rothbard, Wanjiru Njoya reminds us that he never compromised his principles and stood for liberty throughout his all-too-brief life.

Original article: https://mises.org/mises-wire/rothbard-never-abandoned-his-principles

Daniela Cambone interviews Dr. Mark Thornton on why gold’s surge signals a deeper breakdown: collapsing confidence in dollar assets, runaway deficits, and debt-service costs heading for a fiscal wall. Mark also explains why he’s even more bullish on silver than gold, warning that precious metals aren’t a panacea without real monetary reform.

The original interview is available at https://www.youtube.com/watch?v=G1HNeez2v1g

Milton Friedman and others tried to explain interest rates using liquidity, economic activity, and inflation expectations. These things, however, only describe interest but do not explain it. Only the Austrian theory of time preference correctly explains interest.

Original article: https://mises.org/mises-wire/popular-interest-rate-theory-describes-fails-explain

Modern academic historians have been captured by the cultural Marxists, no matter how much they deny the obvious truth.

Original article: https://mises.org/mises-wire/cultural-marxism-masquerading-true-history

As war drums beat again, this time against Iran, we ask ourselves if recklessness from Donald Trump and European and Israeli leaders is pushing us to catastrophe.

Original article: https://mises.org/mises-wire/another-stone-age-making

On the latest episode of Minor Issues, Mark Thornton tackles the “Austrians don’t care about the poor” smear, arguing that Austrian monetary theory is designed to explain how political elites rig the system against working people. From Cantillon’s original gold mine thought experiment to today’s Fed-driven credit expansion, Mark explains how cheap money concentrates wealth and fuels the “K-shaped” economy, while a market-based monetary system would sharply limit this dynamic and restore more durable wage growth and stability.

"Share of Net Worth Held by the Top 1%" (Federal Reserve Bank of St. Louis): https://mises...

In commemoration of Murray Rothbard’s 100th birthday, Bob shares five “greatest hits” from Rothbard’s economics, covering deficits vs. inflation, monopoly theory, excess capacity, the time structure of production, and his reconstruction of utility and welfare economics.

Related:

Join the Mises Institute on Saturday, April 25 in San Diego, C...

The radical classical liberals of the past were not so naive as to think that words on paper would prevent the abuses of the central state. Allowing the central state to have a monopoly on coercive power is always a mistake. 

Original article: https://mises.org/mises-wire/only-power-can-check-power

On this episode of Power & Market, Ryan, Connor, and Tho look at the economic fallout from the war in Iran. How has Iran been able to control the Strait of Hormuz? How might central bankers react? And draft talk out of Washington? Tune in to hear about this and more, as well as a preview of next week's Libertarian Scholars Conference and Austrian Economics Research Conference.