Mises Daily

Charity

The EntrepreneurEntrepreneurshipValue and Exchange

Wealth Must Be Created Before We Can Give It To the Poor

Mises DailyJune 18, 2015
Charity serves an important and indispensable function in society: not everyone can engage in enough productive work to meet the daily needs of his or her family. But entrepreneurs and businesses have to create wealth before it can be given away.

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Research

Big Government

The Washington Intellectual Gravy Train

Mises DailyJune 17, 2015
Washington think tanks are anything but non-political temples to research. They employ out-of-office politicians with fat salaries and provide intellectual cover for the latest big government, anti-trade, and pro-war schemes.

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Inequality

Money and BanksGold StandardMoney and Banking

Gold and Economic Inequality

Mises DailyJune 16, 2015
Both Republicans and Democrats think they can tinker their way to creating an economy with less inequality. Both sides miss the point, and ignore the central role of government fiat money in the problem.

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Technology

Calculation and KnowledgeMonopoly and CompetitionSubjectivism

Government Spending on "Innovation": The True Cost Is Higher Than You Think

Mises DailyJune 15, 2015
Many claim that great advances in technology come primarily through government spending on research. In fact, government tech spending crowds out other innovations while favoring certain interest groups at everyone else's expense...

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Mouse trap

Global EconomyMoney and BanksMoney and Banking

The Futility of Our Global Monetary Experiment

Mises DailyJune 13, 2015
The world's central banks have been pouring new money into the financial system, which has produced a dangerous amount of distortion to prices in the market. And what do we have to show for it? Economic growth is anemic, at best...

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Soldier

Global EconomyThe Police StateWar and Foreign Policy

Does Military Defense Require Large States?

Mises DailyJune 12, 2015
Opponents of secession and decentralization claim that secession is self-destructive because small states will find themselves defenseless in the face of military aggression. In fact, small states enjoy many advantages in wealth, flexibility, and decentralization that are lacking in larger,...

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Robots playing chess

The EntrepreneurValue and Exchange

Let’s Hope Machines Take Our Jobs: We Want Wealth, Not Jobs

Mises DailyJune 11, 2015
What if machines took most of our jobs? Things would become less expensive, and humans would become wealthier in real terms, just as has happened since the Industrial Revolution began. Fear of labor-saving technology continues unabated, nonetheless.

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Big GovernmentTaxes and SpendingInterventionism

Fact Checking Paul Krugman's Claim To Be "Right About Everything"

Mises DailyJune 10, 2015
Believing his record on economic predictions to be impeccable, Paul Krugman has declared himself "Krugtron the Invincible." Unfortunately for him, a closer look at this record leaves quite a bit to be desired when it comes to accurately predicting the future...

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Robot

Money and BanksU.S. HistoryMoney and Banking

Economic Automatons Emerge to Attack James Grant's The Forgotten Depression

Mises DailyJune 9, 2015
It appears that even economists are now being replaced by machines. At least it seems that way given a recent paint-by-numbers attack from the New York Times on James Grant's new book The Forgotten Depression ...

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technology

Capital and Interest TheoryEntrepreneurship

Technology Needs Capital To Produce Economic Growth

Mises DailyJune 8, 2015
Krugman is confused as to why so much technological growth in recent years has not led to more economic growth. The answer lies in the fact that true technological change requires funding — and thus real savings — to be implemented...

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