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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

Why Capital Goods Are the Key to Economic Progress

5 days ago

[This article is excerpted from chapter 18 of Human Action] If one were to measure the length of the period of production spent in the fabrication of the various goods available now, one would have to trace back their history to the point at which the first expenditure of original factors of production took place. …

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Carl Menger’s Theory of the Origin of Money

June 28, 2021

Carl Menger has not only provided an irrefutable praxeological theory of the origin of money. He has also recognized the import of his theory for the elucidation of fundamental principles of praxeology and its methods of research.1 There were authors who tried to explain the origin of money by decree or covenant. The authority, the …

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Without Sound Economics, the Progressives Win

June 8, 2021

[A selection from “The Objectives of Economic Education” in Economic Freedom and Interventionism.]  The struggle between the two systems of social organization, freedom and totalitarianism, will be decided in the democratic nations at the polls. As things are today, the outcome in the United States will determine the outcome for all other peoples too. As long as …

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The Bureaucrat as a Voter

May 8, 2021

Representative democracy cannot subsist if a great part of the voters are on the government payroll. If elected officials no longer consider themselves servants of the taxpayers but deputies of those receiving salaries, doles, and subsidies, democracy is done for. Original Article: “The Bureaucrat as a Voter” This Audio Mises Wire is generously sponsored by …

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The Noneconomic Objections to Capitalism

May 3, 2021

[Editor’s note: this article is excerpted from part IV of The Anti-Capitalistic Mentality. In the nineteenth and twentieth century, socialists often argued that socialism was superior to capitalism because it would deliver a higher standard of living and more consumer goods. When it became clear socialism could not compete with capitalism in terms of material well-being, …

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The Bureaucrat as a Voter

April 28, 2021

The bureaucrat is not only a government employee. He is, under a democratic constitution, at the same time a voter and as such a part of the sovereign, his employer. He is in a peculiar position: he is both employer and employee. And his pecuniary interest as employee towers above his interest as employer, as …

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The Psychological Basis of the Opposition to Economic Theory

April 21, 2021

[This article is excerpted from chapter 6 of Epistemological Problems of Economics] Subjectivist economics would be guilty of an omission if it did not also concern itself with the objections that have been raised against it from political and factional standpoints. There is, first of all, the assertion that the subjective theory of value is …

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The Bigotry of the Literati

April 13, 2021

[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

March 31, 2021

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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