Audio Mises Wire

Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action. Original article: Assumptions in Economics and in the Real World   

While it is often framed in the media as a battle between principled conservatives and an angry, non-ideological movement focused solely on personal loyalty to Trump, the current civil war on the American right is only the latest chapter in a much older story. Original article: The Context Behind Donald Trump’s “Takeover” of the American Right   

Totalitarianism is not compatible with a functioning economic system based upon free exchange and private property. Such regimes depend upon historicism and logical relativism. Original article: Totalitarianism Begins with a Denial of Economics   

Progressives blame the free market for insulin prices and want to impose price controls. But, government regulation is to blame. Original article: How the Government Created Exorbitant Insulin Prices    

Historical revisionism is nothing new, and recent attempts to label an “antiracist” approach to history have wrongly been called “revisionist.” To better understand revisionism, one must first be grounded in reality, then apply reality-based thought to studying the past. Original article: Historical Revisionism: What It Is and What It Is Not  

Employing the Labor Theory of Value, Marx claimed that entrepreneurial profits arise from exploitation of workers. In reality, entrepreneurs earn profits when they correctly gauge markets. Exploitation has nothing to do with it. Original article: Entrepreneurial Profit Follows Good Decisions, Not Exploitation  

Not all news from the gold and monetary fronts is bad. In fact, gold made a number of advancements in seven states, including exemptions from taxes and attempts by states to restrict Federal Reserve behavior. Gold is alive and well. Original article: Sound Money Movement Chalks Up Seven State Legislative Victories in 2024  

Birkin bags are pricey and the producer restricts its potential buyers. Unfortunately, disgruntled customers who don’t want to follow the company’s rules are now appealing to US antitrust law. Original article: Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”    

The watchword among progressives this election season is: “Nothing less than our democracy is at stake.” In truth, democracy itself is not in danger, but one can accurately say that “democracy,” as practiced in the US, endangers our lives. Original article: The Limits to Public Opinion and the Failure of Democracy    

Wage differences between men and women often are automatically attributed to sex discrimination against women. However, as research has shown time and again, other factors are at work. Original article: Discrimination and Opportunities for Women  

Buchanan and Tullock‘s The Calculus of Consent influentially applies economic ideas to politics, focusing on methodological individual. However, there are a few pitfalls about which readers should be aware. Original article: What Is Consent?  

The Fed lowers interest rates ostensibly to “stimulate” the economy. But while the Fed claims it is strengthening the economy, it actually weakens it through its easy-money policies. Original article: Does the Fed’s Lowering the Interest Rates Strengthen Economic Growth?

Tariffs don‘t just raise consumer prices. They also affect capital flows and, on numerous occasions, have triggered stock market crises. What tariffs don‘t bring is prosperity. Original article: A Brief History of Tariffs and Stock Market Crises

For nearly 30 years, the Fed has pursued an easy-money policy that has made the economy increasingly dependent upon the next round of “stimulus.” Reversing that policy will mean, at least in the short run, a stiff recession before the economy rebounds, which is a non-starter today. Original article: Markets Made of Glass—How the Fed Destroyed Economic Resilience

Using state power to enforce social orthodoxy is always a recipe for disaster. Radical Republican governments in the post-war South attempted to do just that, sowing seeds of hatred and discord in the process. Original article: Lessons from Reconstruction  

Modern progressives are obsessed with collective guilt, demanding that Americans pay reparations for slavery even though it ended in the US 160 years ago. However, by employing collective guilt and collective punishment, those seeking reparations violate natural law. Original article: Slavery and Collective Guilt  

The darling of America‘s political elites, Ukrainian President Volodymyr Zelensky, now touts a “Five-Point Plan” that surely will extend the war and ultimately make his country even worse off. It is time to end this farce. Original article: “Victory Plan” or Deadly Delusion? Zelensky’s Perilous Five-Point Plan  

While people who “prep” for disaster (called preppers) are ridiculed by political elites and their media, their actions are perfectly rational. In this article, economist Mark Thornton explains why prepping for natural disasters makes economic sense. Original article: The Economics of Prepping  

The political theorist Anthony de Jasay takes on the left‘s ideas of equality, and David Gordon is there to agree—and disagree. Jasay likens the left‘s view of equality to the Indian Rope Trick. Original article: The Indian Rope Trick  

While it is tempting to think of state power as being maintained by sheer force, it still needs a “theological” justification, be it secular or religious. The US state is no exception. Original article: The Political Theology That Maintains State Power

Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services. Original article: Don’t Knock Nock

The outcry from establishment media figures following the decision by the Washington Post and Los Angeles Times to not endorse a presidential candidate shows how out of touch they have become about how much we rely on them. Original article: The Establishment Media Is Unaware of Its Growing Irrelevance

Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force. Original article: Nine Months of Javier Milei as President of Argentina: A Critical Assessment

Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism

As the Federal Reserve engineers one financial bubble after another, we are reminded that the Austrian Business Cycle Theory explains what is happening and how there is a better way. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism