Mises Institute

Venezuela: Forty Years Of Economic Decline, Part 2

The Venezuelan case serves as a strong warning to many a European country with crumbling welfare states and growing social discontent. Sooner or later, unsustainable transfer systems are bound to collapse and social disorder ensues. Left unchecked, socialism only creates a vicious cycle of interventionism that leads to more chaos and misery.

Venezuela: Forty Years Of Economic Decline, Part 1

While Chávez and his successor Nicolás Maduro deserve the brunt of the blame for Venezuela’s current economic calamity, the underlying flaws of Venezuela’s political economy point to much more systemic problems.

McMaken: Dismantle The FBI, And Give Its Money Back To The States

With James Comey's firing, we're told the FBI is in turmoil, and Washington DC cocktail parties are all atwitter over the excitement of the scandal. But don't worry about the FBI. If history has proved anything, the Bureau, no matter how much chaos it may endure, can always rely on a fat check from Congress - funded by the American taxpayers.

Is Communist Speech Free Speech?

Last month, former Vermont governor Howard Dean announced that "hate speech is not protected by the first amendment." If Howard Dean is looking to condemn something that has perpetuated hate to an unmatched level throughout much of the last century, the answer should be plain as day...

The Myth Of The Rule Of Law

If the mythology of state power is smashed, then the state is exposed for what it is: institutionalized violence, expropriator of the peaceful and productive, and entirely illegitimate.

How Governments Outlaw Affordable Housing

The current planners don't want more housing. The government planners only want a certain type of housing. Meanwhile, the renters live in smaller and smaller units, and drive further and further. But there's one thing of which we can be sure. "Capitalism" will be blamed for it all.

Obamacare? Trumpcare? Get Rid Of It All

Ever since the US government began to sink its claws into the medical industry a good 50 or so years ago, attempts at reducing costs have failed again and again. This is par for the course whenever government invades an industry. Trying to reform this Frankenstein with either Obamacare, or Trumpcare, will solve nothing.

China's Plan To Subvert The Global Dollar Standard

The instability brought into the geopolitical equation by the Trump presidency, and the early signs the US economy is grinding to a halt under the sheer weight of consumer and government debt, are increasingly likely to prompt China and Russia into firm financial action, if only to protect themselves in an unstable financial and monetary environment.

What Nassim Taleb Can Teach Us

Nassim Nicholas Taleb does not suffer fools gladly... "we are increasingly ruled by an intellectual, political, economic, and cultural elite that does not bear the consequences of the decisions it makes on our (unwitting) behalf..."

Central Banks' Obsession With Price Stability Leads To Economic Instability

The Fed’s monetary policy that aims at stabilizing the price level by implication affects the rate of growth of money supply. Since changes in money supply are not neutral, this means that a central bank policy amounts to the tampering with relative prices, which leads to the disruption of the efficient allocation of resources.

Are Oil Prices To Blame For The Venezuelan Crisis? (Spoiler Alert: Of Course Not!)

Venezuela is undergoing the typical collapse of a country that has been subject to years of all kinds of political interventions. The fall in oil prices is the external shock that brings to light the embarrassing result of years of price controls, currency controls, nationalizations, uncontrolled monetary creation, and economic dirigisme.