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Welcome to Mises Wiki, the global repository of classical-liberal thought that anyone can edit Mises Wiki is a wiki project dedicated to the advancement of the Austrian School of Economics and related thought. Sponsored by the Ludwig von Mises Institute and founded on 5 November 2010, the repository now has 1,994 articles. We are always looking for more contributors – to begin, you can experiment in the sandbox, edit an existing article, or start a new one. See also the Community portal for information about the project.

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Randomly featured article Malinvestment is an investment in wrong lines of production, which inevitably leads to wasted capital and economic losses, subsequently requiring the reallocation of resources to more productive uses. "Wrong" in this sense means "incorrect" or "mistaken" from the point of view of the real long-term needs and demands of the economy, if those needs and demands were expressed with the correct price signals in the free market. Austrians believe systemic malinvestments occur because of unnecessary and counterproductive intervention in the free market, distorting price signals and misleading investors and entrepreneurs. For Austrians, prices are an essential information channel through which market participants communicate their demands and cause resources to be allocated to satisfy these demands appropriately. If the government or banks distort, confuse or mislead investors and market participants by not permitting the price mechanism to work, malinvestment will be the inevitable result. Malinvestment results from the inability of investors to foresee correctly, at the time of investment, either the future pattern of consumer demand, or the future availability of more efficient means for satisfying consumer demand. Malinvestment is always the result of the inability of human beings to foresee future conditions correctly. However, such errors are most frequently compounded by inflation misleading market participants. (more...) Edit this box Today in history March 21 (add): 1949 – Economist Frank Fetter died. 1729 – John Law, the inflationist behind the Mississippi scheme, died.

From our newest articles How Capitalism Saved America is a book by American economist Thomas DiLorenzo, that offers an alternative view of many well-known historical events and figures. Public education is education sponsored by the government. Republican Party presidential primaries, 2012 maps the number of assigned delegates. Austrian Business Cycle Theory learning materials is an extensive reading list. Orphan works are copyrighted works for which the owner cannot be found. The Bank of Amsterdam was a full-reserve bank operating from 1609 to 1819. Add a new article to this box – More new articles