Mises Institute
Monday, December 29, 2025
Fiat money is always a scam for the ordinary people who get left holding the bag of ruined purchasing power. It was even that way in the earliest years of the United States when Congress’s paper money quickly became de facto fiat money. ([link removed])
Also, Lorenzo Ciani today recalls the life and work ([link removed]) of farming pioneer Camillo Tarello whose agricultural entrepreneurship, and conflicts with the ruling class of his day, set him apart.
Ryan McMaken, Editor-in-Chief
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The Continental Bait-and-Switch
Joshua Mawhorter
The Continentals and other paper monies only temporarily retained some value largely because of an initial promise of future redemption in gold and silver—a monetary “bait-and-switch.”
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Camillo Tarello: The Forgotten Farmer Who Outsmarted the State
Lorenzo Cianti
Camillo Tarello was one of the fathers of modern agriculture. Fighting the headwinds of state disapproval for his innovative farming methods, he made many agricultural discoveries, benefitting not only his fellow Italians, but future farmers around the world.
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Capitalism: The Market Economy
Prices and profits guide production; losses correct errors.
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Camillo Tarello: The Forgotten Farmer Who Outsmarted the State
Camillo Tarello was one of the fathers of modern agriculture.
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Trump’s Tariffs Run the Whiskey River Dry
Jim Beam has been making whiskey for a long time, through thick and thin. But the Trump tariffs have shut down the venerable distillery.
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The Nordic Model Isn’t as Socialist as Democratic Socialists Claim
Scandinavia is not socialist; in fact, they are often ranked far higher than socialist economies like Venezuela in terms of economic freedom.
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Trump Considers Reclassifying Marijuana
Cannabis stocks surged after news broke that Trump is considering ordering his administration to reclassify marijuana as a less dangerous drug.
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Underinvested Commodities, Overhyped AI
Reading 2026 the Austrian Way. Mark Thornton appears on Metals and Miners with Gary Bohm.
WATCH NOW ([link removed])
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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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