Mises Daily Email

Monday, January 12, 2026

There are plenty of people out there who criticize the Federal Reserve these days. The problem is many of them do it for the wrong reason: they think interest rates are too high. Unfortunately, lower rates won’t solve the boom-bust problem or fix our ailing economy. Higher rates are the answer.

Also, Trump has invoked the Monroe Doctrine repeatedly. But the “doctrine” has never been a good reason to invade or bomb other countries.

Ryan McMaken, Editor-in-Chief

Cutting Interest Rates Isn’t a Cure‑All for the Economy

Alan Mosley

The Fed is cutting its discount rate again, but Americans will be disappointed with the results, as the Fed’s latest action only contributes to the boom-and-bust cycle.

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Why Vivek Is So Wrong about the Founding of the United States

Ramaswamy promotes a fictional version of American history.

LISTEN +

History of Hyperinflation

Hyperinflation isn’t ancient history. It’s a recurring policy failure with war-level damage.

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Sovereign Credit, Affordability, and the Crisis Ratchet

What if the affordability crisis is not a failure of markets at all? What if it is the predictable outcome of how modern governments finance themselves?

How to Compare Prices and Progress over the Years

One way to compare prices of similar commodities and services over long periods of time is to convert the nominal prices to ounces of gold.

Calculation and the Question of Arithmetic

The view that Ludwig von Mises had more in mind in his calculation critique of socialism than the Hayekian knowledge problem has recently been attacked by Leland Yeager.

The Donroe Doctrine and Its Consequences

What’s next for Venezuela? What’s DC’s next target? Does America really need a $1.5 trillion defense budget?

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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.