Mises Institute
Tuesday, December 16, 2025
The media is now obsessed with the K-shaped economy. But the media has no idea what caused it or how to fix it. Monetary inflation and federal spending have fueled exploitation and inequality. This was not caused by capitalism, but by government ([link removed]) .
Also, when it comes to understanding religious freedom in America, the media and the public schools get it all wrong. The real story ([link removed]) is one of decentralization and a weak federal government.
Ryan McMaken, Editor-in-Chief
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The K-Shaped Economy
Mark Thornton
The so-called K-shaped economy—where some experience positive growth and others negative growth—is perfectly explained by the Austrian business cycle theory and the Cantillon effect.
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How Religious Freedom in America Was Founded on Privatization and Decentralization
Ryan McMaken
The drive to religious freedom in America was carried out overwhelmingly in the state legislatures—and the federal First Amendment had almost nothing to do with it.
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The Farmland Protection Policy Act: Crisis Politics and the Quiet Socialization of Land
It doesn’t protect farmland.
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The US Constitution: The Triumph of Power
From confederation to empire, the Constitution consolidated crony power.
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The Problem with Defaulting in Argentina: A Response to Murphy
Precedents for sovereign default exist, but they are double-edged.
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The Constitution’s Negative Effects on Free Trade
Especially in politics, stated justifications and intentions do not always match results.
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The Rothbardian Critique of Consumer Sovereignty
Notwithstanding its endorsement by Mises, Rothbard questioned the concept that the consumer is “sovereign.”
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Longer, Higher
for Longer
Policy-made rates reshape everything: mortgages, bonds, stocks, and commodities.
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Hayek for the 21st Century
The Mises Institute is giving away 100,000 copies of this collection of essays by Austrian School economist and Nobel laureate F. A. Hayek, whom Ludwig von Mises described as “one of the great economists” of all time. The vision of this book is to introduce a new generation of readers to Hayek’s writings.
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