Mises Institute
The Quarterly Journal of Austrian Economics

Explaining Malinvestment and Overinvestment

9 hours agoQuarterly Journal of Austrian Economics
Larry Sechrest provides a concise (4000-word) explanation of the concepts of malinvestment and overinvestment and how they help us understand economic depressions and the boom-bust cycle.

Missouri Tells the Feds: We Won't Enforce Your Gun Laws


The State of Missouri has adopted a new law mandating that state and local officials no longer assist in enforcing federal gun laws. The strategy has already been proven to work in states refusing to enforce federal marijuana laws. 

Transitory Inflation or Stagflation?


Transportation problems mixed with an ongoing government spending spree are pushing prices higher. But output doesn't exactly seem to be roaring ahead. That raises the specter of stagflation. 

Central Banks See No Way out of the Low Interest Rate Trap

The last time a major central bank knowingly tried to end a low-rate policy regime occurred in Japan in the late 1980s. Since then, no central banker has wanted to repeat this unhappy experience.

The Ratification Debate: A Standing Army vs. the Militias


Benjamin Rush was indecent enough to let slip the admission that the Constitution was a national government that ultimately eliminated the states. The other Federalists knew that it was not polite to admit this in public.

Why Joe Biden Is Keeping the Cap on SALT Deductions


The SALT tax deduction allows state and local taxes—like property taxes—to be deducted from federal taxes. To cap it is to pave the way for the federal government to tax income twice.

Why the Regime's Regulatory Power Is a Standing Threat to America


Powerful federal politicians have many ways of expressing their displeasure with America's private sector, and this is partly why we so rarely hear any real criticism of the feds from corporate America.

Wages, Prices, and the Demand for Money: Keynes Got It All Wrong


When markets are mostly free, prices adjust freely and constantly to adapt to new realities. Yet Keynes failed to understand how market rigidities are caused by government intervention. He blamed markets instead.

The Fed Plans to Raise Interest Rates—Years from Now


The Fed isn’t here to take away the punch bowl anymore. The Fed is the punch bowl. 



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