Mises Institute

Keynesian orthodoxy claims that the cause of recessions is a decline in so-called aggregate demand. Besides confusing cause-and-effect, Keynesians don't understand that downturns are the result of malinvestments made during the boom because of central bank interference in the economy.

Inflation is not just an economic phenomenon. It also undercuts the foundations of a civilization, leading to the breakdown of society itself.

Roger Williams, the Baptist minister whose libertarian views ran afoul of the Massachusetts Bay Colony authorities, should be honored as one of this country’s early libertarians.

Modern progressivism is based upon the notion of equity—equal outcomes. However, as Ludwig von Mises wrote, classical liberalism had its roots in liberty, which was undergirded by equality before the law.

Mainstream economists and others speak of the Consumer Price Index as the measure of inflation. Yet, the CPI is nothing more than a weighted average of numbers put into an arbitrary formula. It is time to end this statistical charade for good.

When John Rawls published A Theory of Justice in 1971, he realized there were some loopholes that he tried to cover 22 years later with Political Liberalism. In this week’s Friday Philosophy, Dr. David Gordon exposes the intellectual futility of Rawls' tricks.

One of the most enduring myths of American History is that Herbert Hoover was a laissez-faire advocate who "did nothing" while the U.S. economy slid into depression. It is time to set the record straight.

In a recent rejoinder, Philipp Bagus has followed up on our previous discussion. The present response will focus only on the two most important issues under