Mises Wire

Tom Woods Probes the Origin Story of Bob Murphy

Biographies

08/26/2019Audio/Video
Bob Murphy explains how he got into Austrian economics and libertarianism.
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The End of Marxian Exploitation Theory

SocialismHistory of the Austrian School of EconomicsPhilosophy and Methodology

Blog08/26/2019

Even Marx was forced to admit that workers were not being paid at subsistence levels, and that capitalism led to a rising standard of living for workers. So in order to save his theory, he redefined the concept of subsistence.

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What Adam Smith Missed in His Understanding of the Division of Labor

The EntrepreneurFree MarketsOther Schools of Thought

Blog08/26/2019

Population growth and specialization are not enough to make economies grow. The key ingredient is entrepreneurship.

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The Myth of Good Government

Free MarketsGlobal EconomyOther Schools of Thought

08/24/2019Mises Daily Articles
One of the great and most persistent errors of classical liberals is to believe in "good government," a government that does "what it is supposed to do." But no state empowered to do what is supposedly necessary will restrain itself to those things. It will expand as much as public opinion will...
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The Hidden Costs Behind Every Government Program

Blog08/24/2019

Governments love to point to stuff they built with your tax dollars. But they never point to all the destroyed wealth and lost opportunities that result from those same programs and policies. 

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The Coming Whiskey Bubble?

Booms and Busts

Blog08/24/2019

Whiskey production depends on investment in highly specific capital, and it requires a long time horizon. It's a textbook case of the sort of industry that's likely to suffer most in case of an economic bust.

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