Audio Mises Wire

A common refrain among college fans is, "The Transfer Portal and NIL are ruining college sports." But are they? Before we can answer that question, we have to be able to explain what is happening, and Austrian economics provides the best analytical tools. Original article: Are the Transfer Portal and NIL Ruining College Sports? Explaining the Changes Using Austrian Economics    

Like Santa, who gives free gifts to our children, people think of the state as providing services “for free.” However, the state cannot provide anything without first confiscating wealth from others—like the Grinch, who first stole all the presents in Whoville. Original article: The State Isn’t Santa Claus, It’s the Grinch!    

The child-like obsession with buying stuff that American society is often criticized for around Christmas is a sought-after result of our government’s monetary policy. Original article: America’s Problem with Consumerism Is the Government’s Fault  

President-elect Donald Trump has declared that he will raise tariffs his first day in office. Our economy, however, does not need government-created roadblocks to trade. Instead, we need free exchange and sound money. Original article: We Desperately Need Sound Money, Not Tariffs    

Fifty years ago today, December 11, 1974, F.A. Hayek gave his Nobel Lecture in Sweden. The conflict between what the public expects science to achieve in satisfaction of popular hopes, and what is really in its power, is a serious matter. Original article: The Pretense of Knowledge    

One of the fallacies pushed by monetary economists is that a growing economy needs a growing supply of money in order to prevent deflation, which they claim is as harmful as inflation. However, as Austrians point out, there is no “optimum” amount of money in the economy, since prices adjust. Original article: Should Central Banks Accommodate Increases in Demand for Money?    

The Austrian school recognizes that economic analysis is timeless and the ancient story of “The Poor Man of Nippur” provides an excellent example. From time preference to the structure of production, many of the lessons are contained in this story. Original article: The Poor Man of Nippur and Austrian Economic Principles    

Thanks to the Fed's balance sheet and the Fed's policy on reverse repurchase agreements, it's hard to tell whether the Fed is being hawkish or dovish.  Original article: Is the Fed Loosening or Tightening? It’s Complicated.    

The Cultural Revolution continues apace in this country and it is aimed at all of the old Confederate symbols from statues to the Confederate Battle Flag. With leftist progressives there can be no discussion. Any symbol from the South equates to racism and nothing else. Original article: Marxism and the Cultural Revolution    

Higher education has managed to con huge numbers of young people to take out six-figure loans in order to have the “college experience.” However, the so-called benefits to college are turning out to be a chimera, all funded by increasing indebtedness. Original article: How the Nanny Campus Will Fight to Keep Taxpayers Hostage    

Ralph Raico presents the fundamental political problem of the twentieth century, which remains our fundamental political problem today: How can war—given its appalling destruction—be avoided? Original article: Ralph Raico: A Great Historian      

The Biden administration, and the political establishment more broadly, is scrambling to ram through policies that a majority of voters just voted against. Their actions expose that their supposed commitment to democracy is a lie. Original article: The Establishment’s “Principles” Are Fake      

Much of the failure of American schools is due to the adherence to a flawed system of teaching students how to read. Homeschoolers often don‘t seem to have that problem, and there is a good reason why. Original article: The Nation’s Reading Instruction Disaster      

In replying to a previous article by Frank Shostak, Douglas French writes that if an increase in the supply of gold ultimately leads to an expansion of bank credit, that is enough to start the boom-and-bust cycles, even if there is no central bank to accelerate the process. Original article: A Reply to Shostak: Can Increases in the Gold Supply Cause a Business Cycle?      

Bitcoin is many things to people and it certainly has developed into a valuable asset. It also has been used as a medium of exchange. But is it money? According to Austrian economics, the answer is “no.” At least not yet. Original article: Bitcoiners’ Guide to Austrian Economics  

"Hurry up and wait" is often the reality of medical care. We shouldn't be surprised to know that long lines and government intervention go together. Original article: The Economics of Medical Waiting Rooms  

One important difference between the Austrian and other schools of thought is the emphasis Austrians place upon purposeful human behavior. Consumption by individuals is not random, but rather purposeful action driven by subjective individual preferences. Original article: Subjective Valuation Versus Arbitrary Valuation  

Those carrying out government directives are even less bound by law than they were a few years ago, and talk about new bureaucrats is beginning to resemble the Kremlinology of the Cold War. Original article: “Personnel Is Policy” Means the Rule of Law Is Dying  

Some legal “experts” are claiming that the Supreme Court‘s infamous 1857 Dred Scott decision is still used in current law. That, of course, is nonsense. In fact, soon after its passage, many northern states essentially nullified “Scott” at the state level. Original article: Dred Scott, Politics, and the “Living” Constitution      

Democracy is the watchword with the ruling classes, yet a democratic political system does not protect individual freedoms. Indeed, democracy often has become the main road to socialism. It‘s time for some honest discussion. Original article: Real Democracy Can Only Be Freedom      

President-elect Trump has promised changes in economic policies. How well they work and how they will affect us remains to be seen. Here is a look at proposals that have promise—and proposals that are likely to cause harm. Original article: Trump’s Economic Policies: The Good, The Bad, and the Uncertain      

Progressives are openly cheering the murder of the CEO of UnitedHealthcare. However, it was progressive legislation that created this healthcare crisis in the first place. Original article: Progressivism and the Murder of a Health Insurance CEO      

While the US dollar still is the world‘s “reserve” currency, its abuse by the Federal Reserve and federal government has weakened it precipitously. While President-elect Trump recognizes the threats to the dollar, is he willing to do what needs to be done to change the situation? Original article: Can Trump Save the Dollar?      

Washington has wielded the sanctions weapon against nearly a third of all nations on earth. It is time to rethink these policies, and one hopes the incoming Trump administration will do just that and change course. Original article: The Second Trump Term and the “Sanctions Industrial Complex”      

A modern misconception of antebellum slavery is that it “built the country.” Actually, the institution of slavery, economically speaking, was a deadweight loss to the US economy. Original article: Slavery—Cronyism, Opportunity Cost, & Deadweight Loss