Audio Mises Wire

Economists and political elites fondly claim that economic growth is due to increased technological knowledge. That is only partly true.   Original Article: Does Technical Knowledge Always Lead to Economic Growth?

Fed policymaking is all about political expedience. When we see Fed policy, we must keep in mind that "managing the economy" is secondary to managing public debt service and public expectations.   Original Article: August Price Inflation Accelerated, and the Fed Fears More Is in Store

The UAW's strike against US automakers will do long-term damage to the domestic auto industry. Unfortunately, unions and their advocates will learn nothing from this debacle.   Original Article: Strikes Always Have Economic Consequences and the Latest UAW Strike Is No Exception

There are no more rabbits for the Fed monetary magicians to pull out of their hats. In an economy addicted to artificially low interest rates, any more moves by the Fed will trigger an economic downturn.   Original Article: There Is No Fed Magic Trick to Achieve a Soft Landing

To progressive elites, the state (at least one run by progressives) is omniscient and all-powerful. To anyone with understanding, the state is an entity usually run by gangsters.     Original Article: The State as Modern-Day Superstition: Unraveling the Illusions of Authority

China rose from poverty after the Mao years only because its political leadership embraced private property and a market economy. Unfortunately, today the Communist leadership is moving back to socialism.     Original Article: The Chinese Economy: Market Socialism with Chinese Characteristics

Autoworkers are angry at their working situation and are striking for higher wages and a shorter work week. Their anger is misdirected.   Original Article: Striking Autoworkers Will Only Harm Their Own Livelihoods

Decades of low interest rates have ruined saving in the US economy, and banks are going to pay dearly for it.     Original Article: Is the US Banking System a House of Cards Waiting to Topple?

The vast American welfare system is imploding. Future tax revenues will not come close to meeting future obligations. Something must give.   Original Article: America's Big Three Entitlement Bankruptcies Are Inevitable

In their war against free speech, progressive governments are now denying dissidents use of the banking system. Original Article: ""Debanking": The Latest Assault on Freedom of Speech"

Some Jamaicans complain that the Chinese are "colonizing" the country because of their economic success there. Actually, their success is due to entrepreneurship and plain hard work. Original Article: " Is China Colonizing Jamaica?"

Keynes denounced monetary gold as "a barbarous relic." In the end, it will be that "barbarous relic" that overthrows the regime of paper currency. Original Article: " Gold Will Destroy the Keynesian Fallacies"

A number of Christian conservatives are claiming that markets are as coercive as government. Try boycotting the FBI or your local police the next time they do something outrageous. Original Article: "Are Markets Tyrannical? Where Christian Conservatives Are Mistaken"

President Biden says he is going to unleash regulators to bring more "competition" to the economy. This is an oxymoron. Original Article: " Government Imposed "Competition" Harms Competition"

David Gordon continues his analysis of Graham Priest’s book, Capitalism: Its Nature and Its Replacement. While Priest might not understand either Marxism or capitalism, his book has useful insights. Original Article: "Marxist States Never "Wither Away" as Marx Predicted"

Washington is paranoid of current Chinese actions. However, it is Washington that has been the aggressor in world affairs. Original Article: "China’s Maneuvering and the New Balance of Power"

While unemployment currently is low and the rate of inflation has fallen somewhat, Bidenomics is setting off a boom that is unsustainable. We know what happens next. Original Article: "Bidenomics: A Boom That Awaits an Inevitable Bust"

The Biden administration is unleashing the USDA on small farmers, attempting to regulate them out of business. This is done to protect not the public's health, but politically connected agriculture interests. Original Article: " The USDA’s War on Small Farms"

Since the end of World War II, the US dollar has been the world's reserve currency. That status may well change because US monetary authorities insist on inflating the dollar into oblivion. Original Article: "Dollar Hegemony Is Ending Due to Geopolitical Changes"

Supposedly, the "big news" is the decline of inflation. However, the monetary and political forces driving the latest bout of inflation have not gone away. Original Article: " The Great Phony Disinflation Enters Its Finale"

While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself. Original Article: " Saving Marxism from the Labor Theory of Value: It Is Still Bad Theory"

After governments create crises, they use those crises to seize new powers. After the crisis subsides, governments give up some, but not all, of their new authority, which we call the ratchet effect. Original Article: "Beyond Crisis: The Ratchet Effect and the Erosion of Liberty"

In a more reasonable world, people like Cheney, Rice, Bolton, et al., would all be forgotten, shamed, and disgraced for overseeing multiple disastrous wars abroad and the creation of a police state at home. Unfortunately, we don't live in a more reasonable world.  Original Article: " America Since 9/11: 22 Years of Lies and Despotism"

In the global Ponzi scheme, thin air and deceit substitute for sound money. As hedge-fund manager Mitch Feierstein  wrote  in Planet Ponzi, “You don’t solve a Ponzi scheme; you end it.” Original Article: "The Coming Collapse of the Global Ponzi Scheme"

When Mises wrote that the fascists had "saved European civilization," he could have been describing Francisco Franco of Spain, who kept Spain from becoming a communist dictatorship. Original Article: "What Mises Really Thought about Fascism"