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Ludwig Von Mises

Mises Canada

The Ludwig von Mises Institute, often referred to as the Mises Institute, is a tax-exempt libertarian organization located in Auburn, Alabama, United States. It is named for Austrian School economist Ludwig von Mises (1881–1973). Its website states that it is dedicated to advancing "the Misesian tradition of thought through the defense of the market economy, private property, sound money, and peaceful international relations, while opposing government intervention."

Articles by Mises Canada

The Bigotry of the Literati

3 days ago

[Excerpted from The Anti-Capitalistic Mentality (1954).] A superficial observer of present-day ideologies could easily fail to recognize the prevailing bigotry of the molders of public opinion and the machinations that render inaudible the voice of dissenters. There seems to be disagreement with regard to issues considered as important. Communists, socialists, and interventionists, and the various …

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The Success of Socialist Newspeak

16 days ago

The socialists have engineered a semantic revolution in converting the meaning of terms into their opposite. In the vocabulary of their “Newspeak,” as George Orwell called it, there is a term “the one-party principle.” Now etymologically party is derived from the noun part. The brotherless part is no longer different from its antonym, the whole; …

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Money, Interest, and the Business Cycle

February 17, 2021

[This essay is a selection from lecture 7 in Marxism Unmasked: From Delusion to Destruction.] The banks very often expand credit for political reasons. There is an old saying that if prices are rising, if business is booming, the party in power has a better chance to succeed in an election campaign than it would otherwise. …

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Politics and Ideas

February 8, 2021

In the Age of Enlightenment, in the years in which the North Americans founded their independence, and a few years later, when the Spanish and Portuguese colonies were transformed into independent nations, the prevailing mood in Western civilization was optimistic. At that time all philosophers and statesmen were fully convinced that we were living at …

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Understanding the Roots and Causes of Inflation

January 26, 2021

[This is the fourth lecture from Mises’s “Economic Policy: Thoughts for Today and Tomorrow”] If the supply of caviar were as plentiful as the supply of potatoes, the price of caviar—that is, the exchange ratio between caviar and money or caviar and other commodities—would change considerably. In that case, one could obtain caviar at a …

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There Is Money and Then There Are Money Substitutes

January 16, 2021

The task at hand is the study of the problems of the determination of prices and interest rates. This task requires a sharp distinction between money-certificates and fiduciary media. Original Article: “There Is Money and Then There Are Money Substitutes​” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

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There Is Money and Then There Are Money Substitutes

January 12, 2021

Claims to a definite amount of money, payable and redeemable on demand, against a debtor about whose solvency and willingness to pay there does not prevail the slightest doubt, render to the individual all the services money can render, provided that all parties with whom he could possibly transact business are perfectly familiar with these …

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Socialism vs. Economic Freedom

December 29, 2020

[From Economic Policy: Thoughts for Today and Tomorrow (1979), Lecture 2, “Socialism” (1958)] I am here in Buenos Aires as a guest of the Centro de Difusión Economía Libre.1 What is economía libre? What does this system of economic freedom mean? The answer is simple: it is the market economy, it is the system in which the cooperation …

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Individualism and the Industrial Revolution

December 19, 2020

[Marxism Unmasked (2006)] Liberals stressed the importance of the individual. The 19th-century liberals already considered the development of the individual the most important thing. “Individual and individualism” was the progressive and liberal slogan. Reactionaries had already attacked this position at the beginning of the 19th century. The rationalists and liberals of the 18th century pointed …

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What “Capitalism” Really Means

December 12, 2020

[Economic Policy: Thoughts for Today and Tomorrow (1979), lecture 1 (1958)] Descriptive terms which people use are often quite misleading. In talking about modern captains of industry and leaders of big business, for instance, they call a man a “chocolate king” or a “cotton king” or an “automobile king.” Their use of such terminology implies that …

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When Governments Confiscate Wealth to Fund Government Programs

November 30, 2020

The entrepreneurs try to undertake only such projects as appear to promise profits. This means that they endeavor to use the scarce means of production in such a way that the most urgent needs will be satisfied first, and that no part of capital and labor will be devoted to the satisfaction of less urgent …

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Why the Free Market Liberals Underestimated the Socialists

November 13, 2020

The masses only choose between the ideologies developed by the intellectual leaders of mankind. But the masses’ choice is final and determines the course of events. If they prefer bad doctrines, nothing can prevent disaster. Original Article: “Why the Free Market Liberals Underestimated the Socialists”. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated …

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Why the Free Market Liberals Underestimated the Socialists

November 7, 2020

[A selection from Human Action.] The masses, the hosts of common men, do not conceive any ideas, sound or unsound. They only choose between the ideologies developed by the intellectual leaders of mankind. But their choice is final and determines the course of events. If they prefer bad doctrines, nothing can prevent disaster. The social …

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Socialists Have Never Shown How They Could Increase the Standard of Living

November 3, 2020

[A selection from Nation, State, and Economy. Editor’s note: When Mises refers to “liberals” or “liberalism” he means the ideology of laissez-faire, sometimes now called “classical liberalism.”] Marxism sees the coming of socialism as an inescapable necessity. Even if one were willing to grant the correctness of this opinion, one still would by no means be …

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Understanding the Proper Meaning of “Equality”

October 29, 2020

[A Selection from Liberalism: In the Classical Tradition.] Equality Nowhere is the difference between the reasoning of the older liberalism and that of neoliberalism clearer and easier to demonstrate than in their treatment of the problem of equality. The liberals of the eighteenth century, guided by the ideas of natural law and of the Enlightenment, …

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The Economics of Government Regulation

October 9, 2020

Restrictive measures are those measures undertaken by the authority which directly and primarily are intended to divert production, in the widest meaning of the word, including commerce and transportation, from the ways which it would take in the unhampered economy. Each interference diverts production from the channels prescribed by the market. The peculiar characteristic of …

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Why “Taxing the Rich” Doesn’t Make Us Better Off

September 28, 2020

The complete confiscation of all private property is tantamount to the introduction of socialism. Therefore we do not have to deal with it in an analysis of the problems of interventionism. We are concerned here only with the partial confiscation of property. Such confiscation is today attempted primarily by taxation. The ideological motivations of such …

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Inflation: Its Effects and Failures

September 21, 2020

Inflationism is that policy which by increasing the quantity of money or credit seeks to raise money prices and money wages or seeks to counteract a decline of money prices and money wages which threatens as the result of an increase in the supply of consumers’ goods. In order to understand the economic significance of …

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Governments Never Give Up Power Voluntarily

September 10, 2020

[A selection from Liberalism.] All those in positions of political power, all governments, all kings, and all republican authorities have always looked askance at private property. There is an inherent tendency in all governmental power to recognize no restraints on its operation and to extend the sphere of its dominion as much as possible. To …

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Mises on Syndicalism

September 6, 2020

Syndicalism is a method of attack by organized labor for the attainment of certain political ends. It requires widespread acts of destruction on “capitalist” institutions as a means of ushering in a socialist regime. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Mises on Syndicalism”.

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Why Entrepreneurs—Unlike Politicians—Seek to Truly Serve the Public

September 4, 2020

[A selection from Profit and Loss.] The consumers by their buying and abstention from buying elect the entrepreneurs in a daily repeated plebiscite as it were. They determine who should own and who not, and how much each owner should own. As is the case with all acts of choosing a person—choosing holders of public …

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Mises on Syndicalism

August 27, 2020

[This article is excerpted from Socialism: An Economic and Sociological Analysis.] As political tactics Syndicalism presents a particular method of attack by organized labour for the attainment of their political ends. This end may also be the establishment of the true Socialism, that is to say, the socialization of the means of production. But the term …

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Why Ideas Dictate What We Think Is in Our Self-Interest

August 20, 2020

Marx assumes tacitly that the social condition of a class uniquely determines its interests and that there can be no doubt what kind of policy best serves these interests. The class does not have to choose between various policies. The historical situation enjoins upon it a definite policy. There is no alternative. It follows that …

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The Myth of the Failure of Capitalism

July 27, 2020

[From The Clash of Group Interests, and Other Essays, translated by Jane E. Sanders]1 The nearly universal opinion expressed these days is that the economic crisis of recent years marks the end of capitalism. Capitalism allegedly has failed, has proven itself incapable of solving economic problems, and so mankind has no alternative, if it is to …

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Competition in the Marketplace

July 20, 2020

[This article is excerpted from chapter 15 of Human Action.] In nature there prevail irreconcilable conflicts of interests. The means of subsistence are scarce. Proliferation tends to outrun subsistence. Only the fittest plants and animals survive. The antagonism between an animal starving to death and another that snatches the food away from it is implacable. …

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Mises on the Velocity of Circulation

July 15, 2020

In this short essay recently found in the Mises Institute Archives, Mises goes over the basics of monetary theory and shows why the concept of velocity of circulation is useless for understanding changes in the purchasing power of the monetary unit. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. …

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Mises on the Velocity of Circulation

July 7, 2020

[Editor’s note: this essay was found among Bettina Bien Greaves’s files. A note in her handwriting indicates that it was written in 1944 and that Mises used it in his 1959 seminar. In this short essay, Mises in his characteristically lucid and forceful manner goes over the basics of monetary theory and shows why the …

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Socialist Destructionism

March 12, 2020

To the socialist, the coming of Socialism means a transition from an irrational to a rational economy. Under Socialism, planned management of economic life takes the place of anarchy of production; society, which is conceived as the incarnation of reason, takes the place of the conflicting aims of unreasonable and self-interested individuals. A just distribution …

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The Political Consequences of the Welfare State

March 5, 2020

Ludwig von Mises speaks about the political consequences of the welfare state. He begins by recounting the origin and semantics of the term welfare state. He then concentrates on how the interests of individual members of a legislature is not the welfare of the nation, but the welfare of its constituents. Mises believes the system of …

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Language and the Inflation Debates

March 2, 2020

Ludwig von Mises discusses inflation, labor unions, and issues of the adoption of improper terminology and widespread public misinformation. Delivered at the ninth meeting of the Mont Pèlerin Society; Princeton, New Jersey; September 11, 1958.

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