Mises Institute
Friday, September 5, 2025
 
 
What Happened to the Profit and Loss System?
Artis Shepherd
Profits and losses play an important role in a free market system. However, as government intervenes to protect politically-connected firms from losses, the entire market becomes distorted and less reliable.
 
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The Short-Lived German Free Trade Movement
Joseph Solis-Mullen
John Prince Smith, a British national who settled in Germany, led a free-trade movement in that country in the mid-19th century. Unfortunately, his movement ultimately was overpowered by the rise of Bismarck’s Realpolitik.
 
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Parallel Lives:
Liberty or Power?
 
Lew Rockwell pits Murray Rothbard’s principled liberty against Alan Greenspan’s careerist power—and its costs.
 
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The Progressive Era Triple Alliance: Government as Cartellizer
 
The Progressive Era spawned a state-business “reform” cartel.
 
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The US Now Has More Unemployed People than Job Openings
This does not bode well for new potential workers entering the labor force. Remarkably, things look especially bad for recent college graduates.
 
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How 1971 Broke the Economy—And Why Only Austrians Can Fix It
Nixon’s 1971 decision didn’t just close a gold window—it opened the door to a fiat future of perpetual inflation, asset bubbles, moral hazard, and chronic economic dysfunction.
 
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The Myth of Fed Independence
The standard reply of the Fed and its partisans is that any such measures, however marginal, would encroach on the Fed’s independence from politics. Rothbard dismantled this myth.
 
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Politicizing a Politicized Fed and the Value of Leisure
 
Jonathan joins Ryan and Connor to discuss this week’s topics of interest.
 
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Hayek for the 21st Century—Our New 100,000 Book Giveaway
 
Hayek for the 21st Century is a primer for the layperson, introducing a new generation of readers to Hayek’s writings and hopefully avoiding the 20th century’s mistakes in the 21st century.
 
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