Mises Daily

Understanding True Credit and False Credit

Mises DailyMarch 5, 2015
True credit can only expand if the stock of real savings and real wealth expands. Unfortunately, fractional reserve banking and central banks facilitate the expansion of false credit which diverts resources from true wealth producing activities.

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Five Steps to Fixing Greece’s Debt Problem

Mises DailyMarch 4, 2015
The Europeans have decided to limit funding and credit extended to the Greeks. This puts the Greek financial system under pressure, but there are free-market solutions that could set the Greeks on the path to a sound economy.

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Little-Known Laws That Cripple American Trade

Mises DailyMarch 3, 2015
The Jones Act and similar laws have been behind a precipitous decline in global American shipping. Passed for "national defense" purposes, such laws only serve to raise the cost of shipping to US ports while restricting consumer access to goods...

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The Absurdity of "Reform" in DC

Mises DailyMarch 2, 2015
Government will be so much better if we just adopt the latest fads in government reform, we’re told. Needless to say, modest reforms have a long record of total failure and the only answer is to make radical cuts to every government program...

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How Money Production Can Worsen Income Inequality

Mises DailyFebruary 28, 2015
Money creation does not benefit equally. It creates a class of winners (those who get new money first) at the expense of losers (those who get new money later). Not surprisingly, an inflationary money supply increases the wealth and income gap in society.

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Senate Republicans Bungle Their Interrogation of Janet Yellen

Mises DailyFebruary 27, 2015
Janet Yellen testified before Congress this week, but the Senate Republicans, who claim to be the guardians of monetary sanity, failed to show any true understanding of monetary policy and the damage the Fed has inflicted.

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The Net Neutrality Scam

Mises DailyFebruary 26, 2015
Politicians are telling us that we need the government to ensure "neutrality" in how broadband resources are allocated. However, not only is neutrality in allocation impossible, the effort to do so only hands more power over to the politicians while rendering consumers powerless...

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What To Do While Waiting to End the Fed

Mises DailyFebruary 25, 2015
The ideal reform is always the elimination of the Fed and other central banks. But given the fact that Austrians understand the monetary system better than others, it's important that Austrians also seek to limit the harm the Fed is doing through less-than-ideal reforms...

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Where is the Skyscraper Curse Today?

Mises DailyFebruary 24, 2015
The world is teeming with skyscraper building from China to London, and a new record-setting skyscraper is planned for 2016 in Saudi Arabia. Will this skyscraper herald the next global economic crisis as Dubai's Burj Khalifa presaged the 2009 crisis?

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A Liberal Education At a Zero Price

Mises DailyFebruary 23, 2015
Some promoters of big government are now worried that the government isn't spending enough taxpayer money, time, and energy on teaching the liberal arts. Society would benefit greatly from a flowering of liberal education, but do we really need the government to make that happen?...

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