Mises Institute
Wednesday, May 7, 2025
 
 
Real ID Is Not About Keeping You Safe
Connor O’Keeffe
With the deadline for obtaining the federal government’s Real ID technically upon us, it’s important to understand that this is not an irritating but necessary program to keep Americans safe. It’s the latest example of the government using 9/11 as an excuse to grab more power.
 
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US Trade Account Balance and the Imposition of Tariffs
Kristoffer Mousten Hansen
Mainstream economists have been obsessed with finding “optimal” tax rates, and Nicholas Kaldor’s 1940 formalization of the “optimal” tariff is no exception. Austrian economists, however, know that there is no such thing as an “optimal” tax, given the harm taxation causes.
 
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Legalized Counterfeiting
 
The Federal Reserve’s money creation is sanctioned fraud. Inflation benefits the few at the expense of the many.
 
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The New Deal
 
Robert Higgs reveals how Roosevelt’s New Deal, far from solving the Great Depression, prolonged America’s suffering.
 
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Zero-Sum Thinking and the Roots of Political Divide
Free markets and free minds must push back against the mercantilist and populist policies associated with current Keynesians. One common error is that trade is zero-sum.
 
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David Hume’s Insights Explain America’s Economic Decline

The Trump White House has enacted tariffs in the belief that other countries are “cheating,” but the US has engaged in dollar manipulation through inflation.

 
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Inflation: Looking Beyond Aggregates
Mainstream economists define inflation as the increase in an imaginary “price level” that is relatively neutral in its effects. However, the effects of inflating the money supply are anything but neutral.
 
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War and the Fed
 
Peace depends on sound money. Lew Rockwell at the 2012 Mises Circle in Manhattan.
 
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The Misesian
 
Rothbard’s “Anatomy of the State” introduces the state as a unique, coercive institution, distinct from society. The latest Misesian expands on this view, examining historical commentary on the state’s emergence and its central role in modernity.
 
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