If there is anything we have learned from the American welfare state it is that from the very beginning it created a moral hazard problem whereby paying people for not working incentivizes them to drop out of the…

President Trump’s first major speech on economic policy in 2017 was delivered in Lexington, Kentucky near the home of Henry Clay, the early nineteenth century leader of the Whig party and the epitome of a political tool of…

In private business “[t]here is no need to limit the discretion of subordinates by any rules or regulations other than that underlying all business activities, namely, to render their operations profitable.”—Ludwig von Mises, Bureaucracy, p. 46 In this quote from his…

Protectionist tariffs are associated with a long history of economic and social calamities in America. An important reason for this is that protectionist tariffs are a political tool of plunder and theft, and people don’t generally take kindly…

This article is a version of a speech delivered at the 2024 Mises Institute Supporters Summit. https://youtu.be/9NCSfCKLqbw “Most economists are political apologists masquerading as economists,” wrote Doug Casey in one of his columns. “They prescribe the way they…

The answer to the question posed in the title is: Yes and No. Yes, some elections have made a significant difference but in general, no, they have not. There are many reasons why elections generally no longer make much of a…

A definition of “projection” is when one baselessly accuses others of doing something unsavory, immoral, or illegal that he is actually doing. For example, a thief who, without proof, accuses others of being thieves. This is what socialists…

The Siena College Research Institute, the American Political Science Association, and C-SPAN all publish rankings of American presidents by “mainstream” historians, political scientists, and other “presidential experts.” Abraham Lincoln and Franklin D. Roosevelt usually alternate in first and…

On October 23, 2024, Tom DiLorenzo appeared NOW with Stacy Washington, to explain how the Chinese Communist Party is imitating what the Federal Reserve did in the early 2000s. https://youtu.be/dUxVv3wm9R4 The original episode is available on SalemNewsChannel.com. Stacy Washington (SW): Welcome back…

At the recent Mises Institute Supporters Summit in Hilton Head, South Carolina Tom Woods made some flattering comments about Yours Truly regarding my 2000 book coauthored with James T. Bennett entitled From Pathology to Politics: Public Health in…

Presented in Hilton Head Island, South Carolina on Saturday, October 12, 2024. Article posted with permission from Thomas DiLorenzo

A definition of “projection” is when one baselessly accuses others of doing something unsavory, immoral, or illegal that he is actually doing. For example, a thief who, without proof, accuses others of being thieves. This is what socialists…

Labor unions are exempted from federal antitrust laws including the Sherman Antitrust Act, which outlaws “conspiracies in restraint of trade.” This is not a bad thing: Everyone should be exempted from antitrust laws. They are an assault on property rights…

Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will. It allows other forces to arise side by side with and in…

The United States abolished its first three central banks, and this was followed by a period of immense economic growth. End the Fed? We did it before and can do it again. In discussing the Mises Institute’s June…

Libertarians understand — or should understand — that military conscription is a form of slavery or involuntary servitude. In fact, everyone should understand this. And yet conscription has been employed by the U.S. government for the past 161…

The purpose of the war is “extermination, not of soldiers alone, that is the least part of the trouble, but the people.” Letter from General Sherman to Mrs. Sherman, July 31, 1862 “[H]ad the Confederates somehow won .…