Mises Daily Articles

The Middle East once enjoyed unprecedented economic prosperity, but thanks to centuries of bureaucratic centralization and institutional barriers to free-market growth, the modern Middle East has long since fallen behind the West.

If given a choice, people will avoid paper money that is declining in value, thus putting a restraint on inflationary bank notes. To shield banks from this, they turned to a monopolist central bank that issues legal tender and helps private banks inflate.

DC budget spinners are at it again, claiming that deficits are melting away and the national debt is no big deal. In fact, debt and spending are just as out-of-control as ever, and if interest rates go up, we’re in deep trouble...

Collective security agreements allow many countries's politicians to shift the cost of national defense to taxpayers outside their own countries. Moral hazard, belligerence, and over-reliance on military solutions often ensue...