Mises Wire

The so-called K-shaped economy—where some experience positive growth and others negative growth—is perfectly explained by Austrian business cycle theory and the Cantillon effect.

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.

For more than 40 years, US farm policy has socialized farm land and transferred wealth to politically-connected people. 

While the jury still is out regarding Javier Milei’s economic “reforms” in Argentina, one must remember that economic intervention in that country is thoroughly entrenched in political and economic life there.

High time preference is a sign of economic degradation, and Bose shows that a rejection of Christian sexual ethics is a feature of a high time preference society.

Mainstream economists are at a loss to explain why the current regime of inflation and central bank interventions have been so economically devastating. Understanding Cantillon effects is vital to making sense of the current madness.

Inflation does more than just force up prices. It destroys the wealth-producing process, especially with young people who are prevented from acquiring the same kinds of assets earlier generations procured. The result is inter-generational conflict.

Through the most bloody war in American history to date, Lincoln unleashed an inchoate “secret constitution” that began to bring the US into closer alignment with equality and democracy, which many view as a good thing.

In the new Ken Burns documentary, an old myth—held by the left and right—is repeated: that chaos led to the need for the Constitution and a stronger national government.

Americans like to think of themselves as peace-loving people. However, our nation’s war record since the American Civil War points to the US government’s affinity for unleashing total war.