Mises Institute

The beauty of Austrian economics is that it springs from real human action and does not depend upon the construction of abstract mathematical models meant to parallel reality.

Statistics can be interesting and informative, but only if one can properly understand them through sound economic theory.

Every now and then, we still receive emails asking why there is no comment section on each mises.org page, and some even demand that we, the staff at the Mises

As socialists gain increasing power in this country, their first target is private property. We need to push back against this wave of legalized theft.

In this week’s Friday Philosophy, Dr. David Gordon reviews Cronyism: Rise of the Corporate State 1849-1929 by Patrick Newman.

Modern mass democracy, especially when coupled with bureaucracy, creates uniquely powerful incentives for the production, consumption, and institutionalization of unreality.

More than a decade ago, Zimbabwe became synonymous with hyperinflation. While that era has mercifully passed, the nation’s central bank still is following inflationary policies.

The sure way to destroy a prosperous nation is to debase the currency. History is full of examples—from ancient Rome to the nascent French Republic to Weimar Germany. The US and the West, fiat currency regimes all, are irrevocably destined to join this sorry club.

Some claim that if socialists understood economics they wouldn't be socialists. This is doubtful since the larger motivation is often political control.

The evolution of the US government into a powerful cartelizer of the economy required special interests persistently lobbying to reduce competitive market pressures. It required cronyism: government intervention that benefits special interests at the expense of public interest.