On this episode of Power & Market, Ryan, Connor, and Tho take a look at this week’s off-year elections. Were any of the outcomes a real surprise? Does Mamdami reflect the future of the left? Will affordability bring down MAGA? The roundtable discuss these questions and more.

The justices that Trump appointed to the Supreme Court have shown a recent intolerance for the kinds of semantic leaps his administration is relying on to justify its tariffs. Will they remain consistent or fall in line behind the president? Read the article here: https://mises.org/mises-wire/trumps-tariff-power-grab Be sure to follow the Guns and Butter podcast at https://Mises.org/GB

While giddy socialists are proclaiming that Zohran Mamdani's electoral victory is the beginning of a socialist takeover of the US, the Democratic Socialists of America have a long way before they can complete their stated mission. Original article: https://mises.org/mises-wire/election-mamdani-what-it-means-and-what-it-doesnt-mean

Ryan McMaken takes a deep dive on food stamp spending, food stamp recipients, and how Big Ag and other industry lobbyists fight to keep food stamp spending flowing and increasing.

Speaking at the recent Mises Institute Supporters Summit, Mark Thornton argues that lasting reform comes from the bottom up, not from political edict. Drawing on Hayek’s “worst get to the top” insight, Mark contrasts elite-driven prohibition with the citizen-led wave of decriminalization and legalization across states and abroad. Mark also explains the role of “salutary neglect” by local officials, the Oregon backlash as a failure of property-rights enforcement—not of liberty—and the scholarly case against the drug war. The crux: markets and civil society integrate; top-down policy divides. Be sure to follow Minor Issues at https://Mises.org/MinorIssues

When studying praxeology, something as trivial as the recipe for chocolate cake can become a way to better teach us Austrian economics. Original article: https://mises.org/mises-wire/recipes-rothbard-what-chocolate-cake-can-teach-about-economics

Murray Rothbard’s view of the origins of World War II has an important lesson for us today. Original article: https://mises.org/mises-wire/murray-rothbard-and-world-war-ii-origins

Dr. Alex Pollock joins the Human Action Podcast to explain his recent Congressional testimony on the Fed’s growing insolvency and mandate overreach. The Fed now admits to $243 billion in operating losses and nearly $1 trillion in mark-to-market losses, leaving it with negative capital of about $197 billion. Dr. Pollock explains how the central bank transformed itself into “the biggest 1980s-style savings and loan in history” — funding short while buying long, and bleeding cash as interest rates rose. Rear Dr. Pollock's Testimony: https://Mises.org/HAP523a Read More from Dr. Pollock: https://Mises.org/HAP523b

Henry Hazlett wrote in Economics in One Lesson that each generation has to relearn economic fallacies that government employs when implementing bad policies. New Yorkers are about to learn a lot of new lessons. Original article: https://mises.org/mises-wire/all-means-elect-mamdani-and-watch-his-socialist-laboratory-work

The food stamp program is a way for Pepsico and the Coca-Cola company to legally rip off the taxpayers. Original article: https://mises.org/mises-wire/how-food-industry-lobbyists-keep-food-stamp-gravy-train-going

Trump’s team is citing the fentanyl crisis to justify its escalations near Venezuela. But virtually all illicit fentanyl is made and smuggled thousands of miles away. If war or regime change in Venezuela is good for the American people, why hide the true motivations? Original article: https://mises.org/mises-wire/trump-administration-lying-us-another-war

For more than 60 years, the US government has enforced a trade embargo against Cuba, ostensibly to force the communist government into collapse. The only thing that has collapsed, however, is the logic in the US policy. Original article: https://mises.org/mises-wire/brief-history-enduring-american-embargo-against-cuba

September’s fiscal surplus was not thanks to tariff revenue. In truth, it was thanks to Americans paying more in income tax. Tariffs were only 5.7 percent of revenue. Original article: https://mises.org/mises-wire/no-tariffs-did-not-cause-septembers-budget-surplus

Despite the change in the White House, critical race theory is still with us, dominating the academic sectors and being ingrained in progressive culture. We need to better recognize what it is and how it works in order to better refute it. Original article: https://mises.org/mises-wire/how-recognize-critical-race-theory

No one doubts that the US is a politically and culturally divided nation. Contrary to much of public opinion, politicians like Donald Trump did not cause the crisis. Instead, as Lawrence Mead writes, they are a symptom of the government’s assault on our culture. Original article: https://mises.org/mises-wire/recognizing-roots-current-us-political-turmoil

Mark Thornton reviews David Howden’s data-driven guide to long-horizon investing in commodities, useful even for Austrians wary of statistics. Mark highlights how a formal model can still complement Austrian fundamentals and capital-allocation thinking, and he previews an upcoming episode on silver that will build on these results. Purchase The Almanac of Commodities by David Howden at http://mises.org/almanac Be sure to follow Minor Issues at https://Mises.org/MinorIssues

On this special episode of Power and Market, Joshua Mawhorter joins Tho Bishop and Connor O'Keeffe discuss the recent Supporters Summit, the legacy of Mises.org, and a few books they are reading.

The governmental response to the covid pandemic was to cripple the economy. To compensate for the damage, the Federal Reserve unleashed massive inflation in an attempt to do what the Fed always does in a crisis: bail out the economic actors. Read the article here: https://mises.org/mises-wire/we-have-not-properly-reckoned-economic-insanity-2020 Be sure to follow the Guns and Butter podcast at https://Mises.org/GB

As a true market entrepreneur, as opposed to a political entrepreneur, James J. Hill successfully built a transcontinental railroad, outcompeting his government-subsidized competitors. Original article: https://mises.org/mises-wire/myth-robber-barons-james-hill-versus-crony-competitors

The concept of “planned obsolescence” makes no economic sense and is often an excuse for governments to harass and shake down innovative entrepreneurs. Much of so-called planned obsolescence is really entrepreneurship at work improving products for users and consumers. Original article: https://mises.org/mises-wire/myth-planned-obsolescence