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Austrian Economics
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The Mises Institute exists to promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. These great thinkers developed praxeology, a deductive science of human ... more


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Non-Renewable Resources Never Really Run Out
There’s a remarkable confusion in the modern debate over energy sources. Informed by geological rather than economic considerations, energy sources and some raw materials are thought of either as “Renewables” or “Non-Renewables”.
Low Price Inflation Means The Fed Will Retreat To Low Rates And Easy Money
A softer increase in the personal consumption price index (PCEPI) adjusted for food and energy has likely prompted Fed policymakers to hint about a cut in the policy interest rate in the months ahead.
The Zombie (Company) Apocalypse Is Here
One of the most significant economic developments since the Great Recession has been the zombification of the economy.
Why It's Important To Understand "Economic Costs"
The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.
Low Inflation Is No Threat To The Economy
Most economists are of the view that it is much harder for the central bank to handle deflation than inflation. This is, however, not so with regard to deflation.
Money Velocity And Economic Growth
After rising to 2.198 in Q3 1997, the ratio of US Gross Domestic Product (GDP) to money supply M2 fell to 1.433 by Q3 2017. Since then the ratio has bounced slightly to 1.457 in Q1 2019.
The Lure Of A Stable Price Level
One of the reasons that most economists of the 1920s did not recognize the existence of an inflationary problem was the widespread adoption of a stable price level as the goal and criterion for monetary policy.
The Neo-Marxist Roots Of Modern Monetary Theory
The influence of the economics of Michal Kalecki on Modern Monetary Theory (MMT) is hard to ignore.
Can The Fed Keep This Long Cycle Going?
Our current super-long economic cycle is a monetary curse. Under sound money, it would not exist, and under the pre-1914 gold standard, it never occurred.
Bitcoin, Gold, And The Battle For Sound Money
Here in the U.S., the financial markets are focusing on Fed Chair Jerome Powell’s herky-jerky monetary messages while politically the news is Trump’s two picks for the central bank board have taken themselves out of the running.
Why Turkey's Debt Crisis Is A Bigger Risk To The Eurozone Than The PIGS
Turkey has been almost constantly in the news over the past year, as troubling headlines about its economy and political situation continue to pile up.
The Balance-Of-Payments Myth
In March, the US trade account balance stood at a deficit of $ 50 billion against a deficit of $49.28 billion in February and a deficit of $47.4 billion in March last year.
3 Modern Arguments For Tariffs, Debunked
Many proponents of tariffs recognize the absurdity of tariffs as a general rule. However, they feel that there are certain cases in which tariffs are justified and necessary. In this article, I will analyze three such arguments.
Central Banks’ Crusade Against Risk
Central banks have put a “safety net” under the economies and the financial markets in particular. As it seems, this measure has been working quite effectively over the last ten years or so.
Can A Commodity-Money Economy Co-Exist With A Fiat-Money Economy?
Although a commodity money economy would be largely insulated from monetary disturbances generated in fiat money economies, Cantillon effects would occur from the residual asset price inflation in the commodity money country.
How Human Action And Human Values Determine Prices
Why do individuals pay much higher prices for some goods versus other goods? The common reply to this is the law of supply and demand. What is behind this law?
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