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Philosophical Origins of Austrian Economics, The
Ludwig von Mises Institute — The Fundamental Obstacles to Economic Recovery: Marxism and Keynesianism In a previous article, I explained how falling prices, far from being deflation, are actually the antidote to deflation. They are the antidote, I explained, because they ...More…
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Liberty's Benefactor
Ludwig von Mises Institute — In every age, the idea of liberty needs benefactors, far-seeing people willing to make personal sacrifices so that each new generation is taught not to take freedom for granted, but rather to fight for it in every field of life. That is necessary ...More…
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The Indefensibility of Political Representation
Ludwig von Mises Institute — Tom Hanks and Passepartout are the only two human inhabitants of a Pacific island. Neither is aware of the existence of the other until, one fateful day, they meet. What happens next is a matter of some moment. Will they greet each other politely ...More…
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Open Letter from One Non-Economist to Another
Ludwig von Mises Institute — I read your commentary this morning, as many have undoubtedly done. The economy is a very interesting and pressing current affair. I realize you may receive volumes of email regarding what you have written, so I hope you will consider taking time ...More…
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The Losing Battle to Fix Gold at $35, Part II
Ludwig von Mises Institute — This article takes up where the first part left off: the dismantling of the London Gold Pool in March 1968. The US authority's fight to keep gold pegged at $35 had by no means ended with the Pool's demise. Instead it shifted to a new front. That . ...More…
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The Works of Leonard E. Read
Ludwig von Mises Institute — The works of Leonard E. Read, who founded the Foundation for Economic Education (FEE) in 1946, are now online at the Mises Institute. It is probably not the complete collected works, but it is all that he collected in book form. These are books ...More…
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Trends Can Change
Ludwig von Mises Institute — One of the cherished dogmas implied in contemporary fashionable doctrines is the belief that tendencies of social evolution, as manifested in the recent past, will prevail in the future too. Study of the past, it is assumed, discloses the shape ...More…
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US Treasury Unveils Plan to Buy Banks' Troubled Assets
Ludwig von Mises Institute — Would Cleansing Banks' Balance Sheets Kick-start the US Economy? Last Monday the US Treasury presented a plan that is aimed at cleaning toxic assets from banks' balance sheets. The Treasury is to take over up to $1 trillion in bad assets (such as ...More…
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There Will Be (Hyper)Inflation
Ludwig von Mises Institute — The demise of fiat-money regimes around the world has become unmistakable. They can only be kept alive by central banks creating ever greater amounts of base money and governments underwriting commercial banks' liabilities. The US Federal ...More…
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The Flat Tax Is Not Flat and the FairTax Is Not Fair
Ludwig von Mises Institute — Our current income tax system, inaugurated in 1913 with the adoption of the 16th Amendment, began with a 1 percent tax on taxable income above $3,000 ($4,000 for married couples). A series of surcharges of up to 6 percent were applied to higher ...More…
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The Trouble with Warren Buffett
Ludwig von Mises Institute — When a junior high investment club wrote in to CNBC's Squawk Box to ask legendary investor Warren Buffett what he thought the price of gold would be in five years and whether the yellow metal should be a part of value investing, the Oracle of ...More…
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Greenspan's Bogus Defense
Ludwig von Mises Institute — Greenspan's main argument is that the Fed lost control of the ability to move long-term interest rates, especially 30-year fixed mortgage rates. Since it is these longer rates that (at least in theory) ought to influence house prices much more ...More…