Mises Institute
Monday, April 21, 2025
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Federal Spending Is Only Going Up: Trump Pushes Trillion-Dollar Defense Budget
Jane L. Johnson
Economist Robert Higgs described the “ratchet effect” in which government either creates a crisis or responds to one, leading to a permanent expansion of government power. After the crisis ends, government retreats—but not to the point where is was pre-crisis.
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Trump’s Insane Tariff Policy
Llewellyn H. Rockwell Jr.
The last excuse that diehard defenders of President Trump’s tariff policies have advanced now lies in ruins. Trump had put in place exorbitant tariffs, these defenders acknowledged, but this was just a negotiating tactic, to get the targeted countries to lower their own tariffs on American goods.
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Prospects for Hyperinflation
Mark Thornton dives into the national debt crisis, historical collapses, and the three stages of financial doom.
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Randall Wray’s MMT Lecture Distorts History
Bob Murphy shows how leading MMT guru Randall Wray completely distorts two historical episodes.
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Standing at the Edge of the Iran War Cliff
When wars can be started by presidents with no authority granted by Congress, the results can be endless military engagements with ever-shifting, unachievable objectives.
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The Great Pretenders: The 50th Anniversary of Hayek’s Nobel Prize Speech
The economic sage saw that the attempts of central bankers to control the markets is based on a “pretense of knowledge.”
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Free Markets, Entrepreneurial Error, and the Nico Iamaleava Saga
Austrian economics helps us understand how and why an athlete’s holdout in order to leverage more pay failed.
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Hyperinflation
There are two very effective ways to destroy an economy: hyperinflation and central planning.
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The Costs of War
John Denson’s The Costs of War argues that the warfare state is a greater threat to liberty than the welfare state. This expanded edition features sharp critiques of war and imperialism from thinkers like Murray Rothbard and Robert Higgs. It is a devastating and convincing attack on warmongering.
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