Mises Institute
Tuesday, November 25, 2025
Many anti-capitalist activists claim that markets only work when there is “perfect competition” or some other imagined condition for a functional market. They say that even economists admit this. In truth, markets don’t require “perfect” anything to make our lives better. Today at mises.org, Jonathan Newman explains ([link removed]) how to properly understand economic “constructs” to help us understand how markets work.
Also today, Frank Shostak counters ([link removed]) one of the worst economic myths of all: that economic growth requires a growing money supply.
Ryan, Editor-in-Chief
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Do Markets Ever Reach Equilibrium?
Jonathan Newman
Equilibrium is an imaginary construct that should be used only for analytical purposes. Unfortunately, mainstream economists have claimed it should represent a desired state of economic affairs. Austrian Economists know better.
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Does a Growing Economy Require Increases in the Money Supply?
Frank Shostak
Mainstream economics claims a growing money supply is needed for economic growth, but this leads to inflation and business cycles.
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Wealth and Politics
“Political wealth” siphons value from markets—taxing producers to feed bureaucracy, reward patrons, and underwrite perpetual war.
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Crusoe: the Man, the Myth, the Legend
Jeffrey Herbener explains why “Crusoe economics” is the indispensable starting point for economics and liberty.
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The Shutdown Was a Game
The government failed to govern, but not by mistake, it was fully incentivized to do so.
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Closing Argentina’s Central Bank: Concluding Comments
Dr. Hülsmann concludes his case.
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Legal Nonsense to Justify Non-Judicial Killings
Reasoning often starts with a conclusion and then finds arguments to justify it.
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Interest Is Not the Marginal Product of Capital
In actual markets the interest rate emerges from time, prices, and capital valuation.
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The Misesian
In the latest issue of The Misesian, we give readers a sense of what happens at Mises University by featuring lectures and photos from the event, as well as testimonials from students.
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