Mises Media

Eric Weinstein’s Challenge to Mainstream Mathematical Economics

Bob uses clips from his recent interview with Eric Weinstein to explain why Weinstein thinks gauge theory can fix how economists measure the cost of living, unify competing price indices, and handle changing preferences over time, and why Austrians shouldn’t dismiss him as a crank. He summarizes Eric’s claim that standard mathematical economics relies on the simplest kind of derivative, explaining how much of modern economic modeling is using the wrong math. Related:  * Bob's Interview with Eric Weinstein on the InFi Podcast: Mises.org/HAP530a [https://Mises.org/HAP530a] The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree [https://Mises.org/HAPodFree]

Risk, Uncertainty, Profits, and Modern Portfolio Theory

While Modern Portfolio Theory (MPT) is popular in academic economics and finance, it fails to properly explain profits, mistakenly confusing entrepreneurial profit seeking with risk management. Original article: https://mises.org/mises-wire/risk-uncertainty-profits-and-modern-portfolio-theory [https://mises.org/mises-wire/risk-uncertainty-profits-and-modern-portfolio-theory]

The Farmland Protection Policy Act: Crisis Politics and the Quiet Socialization of Land

For more than 40 years, the Farmland Protection Policy Act has socialized US farmlands and transferred wealth to politically-connected people. What it hasn’t done is protect farmland. Original article: https://mises.org/mises-wire/farmland-protection-policy-act-crisis-politics-and-quiet-socialization-land [https://mises.org/mises-wire/farmland-protection-policy-act-crisis-politics-and-quiet-socialization-land]

Longer, Higher for Longer

Mark Thornton argues that interest is a core price that coordinates time, investment, and growth, and that the Federal Reserve has turned it into an administered number. Mark warns the long-run trend may be turning: bigger states and debts, weaker anti-inflation ideology, and aging populations imply longer, higher for longer. What are the implications? Keep that 2% Covid-era mortgage, expect poor long-bond returns and lower real equity performance, and look for commodities to fare relatively better. Gold’s surge shows some investors already see the shift. Be sure to follow Minor Issues at https://Mises.org/MinorIssues [https://Mises.org/MinorIssues]

Modern Marriage and the Homeownership Rate

Data shows that the marriage rate and the homeownership rate have been closely connected for decades. Historically, more marriage means more home buying, but government intervention has made buying a home much harder.  Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard [https://mises.org/RadioRothbard] Radio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug [https://store.mises.org/Radio-Rothbard-Mug-P11280.aspx] PROMO CODE: RothPod for 20% off [https://store.mises.org/Radio-Rothbard-C201.aspx]