Audio Mises Wire

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      

Modern academics are relentless in trying to find any nuances they can from the works of Karl Marx, but they miss the larger issues with his work. Marx was alive and active when the marginalists logically took apart his value theory, but hope springs eternal for Marx‘s supporters. Original article: The Missing Secret      

Long before the term "Critical Race Theory" was coined, Ludwig von Mises already was critiquing what he called "racial polylogism," which claims that what passes for truth depends upon racial identity. While people might hold different perspectives, truth still is truth. Original article: Critical Race Theory and Racial Polylogism    

The world is awash in debt bubbles, but politicians continue to spend, which requires even more central bank intervention—and more bubbles. Max Rangeley has edited The Age of Debt Bubbles, which details the dangers we face and how to stop the current madness. Original article: Book Review: The Age of Debt Bubbles    

A new study at UC Berkeley claims that California‘s new $20 minimum wage has had no adverse economic effects. If only that were true. Original article: Minimum Wage Laws Can’t Repeal the Laws of Economics    

After spending 25 years as a columnist for the New York Times, Paul Krugman is finally retiring from that position—25 years too late, if one wishes to be honest. Original article: Paul Krugman Rides into the Sunset    

In November, employed workers flatlined yet again as full-time work dropped for the tenth month in a row. Naturally, the Fed plans interest rate cuts.  Original article: Employed Workers Dwindle and Full-Time Jobs Fall as the Fed Readies More Easy Money    

Marx is often portrayed as motivated by love of the working class, but, starting from the time he was a university student, he displayed contempt and hatred for the masses he deemed beneath him. Original article: Marx’s Misanthropy    

Even though the Pentagon has failed seven audits in a row, defense spending is now 60 percent higher (in real terms) than its old Cold War peak.  Original article: Slash Military Spending: “Defense” Budgets are Bigger than Ever Before    

The Mises Institute is giving away copies of Murray Rothbard's classic, What Has Government Done to Our Money? and it will change how one sees our nation's monetary history. Rothbard presents a clear case for sound money as a basis for civilization itself. Original article: What Has Government Done to Our Money?    

These days, most federally-funded workers are “private” contract and grant workers. These jobs will quickly disappear if we‘re serious about spending cuts.  Original article: Want to Cut Federal Workers? Just Cut Spending.    

It should be clear from the articles in this book that the Austrian School is thriving. Per Bylund has rendered a great service in bringing the scholarship in A Modern Guide to Austrian Economics to our attention. Original article: New Austrian Insights    

A central doctrine of the Keynesian system is the “liquidity trap” in which consumers hold money in anticipation of higher interest rates. The act of holding money allegedly promotes “underconsumption,” continuing the economic downturn. This doctrine, however, cannot withstand scrutiny. Original article: The Keynesian Liquidity Trap Fable