Mises Daily Email

Tuesday, January 20, 2026

The regime and its pet economists have constructed a veritable industry around making up excuses and confusing terminology that obscures the impoverishment inflicted on the people by the central bank. But central banks like the Federal Reserve are invented for one overwhelming reason: to serve the government by providing cheap loans and easy money to the ruling regime.

Also, Joseph Solis-Mullen explains that it is important to be able to tell the difference between a weak state and a limited state.

Ryan McMaken, Editor-in-Chief

Inflation: A Dirty Word for “Accommodation”

George Ford Smith

Inflation is a government tool used to confiscate wealth from ordinary citizens and transfer it to government agents and others who are politically connected. That most Americans believe inflation is caused by greedy business owners shows how successfully the government covers its tracks.

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Billionaires, Workers, and the Exploitation Theory

Bob Murphy addresses claims that billionaires have “stolen” their wealth from workers.

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The British North American Colonies Were Not Homogeneous Political Units

Many polities, not one.

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The Scourge of Credentialism

The rise of the state led to the rise of credentialism, however, credentialism neither guarantees competence nor quality.

Colonial Exploitation Did Not Fuel the West’s Economic Development

The West did not need resources from “Third World” colonies to attain economic development.

Should Billionaires Exist?

It may be emotionally satisfying for many to favor sticking it to billionaires, but reason informs us it is the poor who would end up paying the steepest price.

Revenge of the Skyscraper Curse

Will the curse return in 2026?

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The Misesian

The latest issue of The Misesian discusses why, without private property, there is no way to plan for the future, and one’s goods are always subject to confiscation from the more powerful. In other words, a world without private property is a lawless world.