Mises Daily Articles

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The Fed’s Confusion Over the "Natural Rate" of Unemployment and Inflation

The FedMoney and BanksMoney and Banking

07/20/2015Mises Daily Articles
The Fed often uses the "natural rate" of unemployment to determine whether or not it should raise interest rates. But as with so many metrics the Fed uses, this one is based on arbitrary measures that can be manipulated to suit Fed policy...

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The Intellectual Intolerance Behind “Check Your Privilege”

EducationPhilosophy and Methodology

07/18/2015Mises Daily Articles
Strictly speaking, the phrase "check your privilege" could be an invitation to debate. But in practice, it is all too often an attempt to shut down debate and to make a personal attack on one's opponent in the name of "tolerance."...

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Jeb Bush’s Advice: Work Harder, Not Smarter

Big GovernmentThe FedU.S. History

07/17/2015Mises Daily Articles
Jeb Bush recently opined that to get more economic growth, people need to work more hours. What Bush fails to understand is that more employment is not the key to more economic growth. Saving and investment bring more productivity, which brings a better economy.

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How Student Loans Create Demand for Useless Degrees

Big GovernmentPricesValue and Exchange

07/16/2015Mises Daily Articles
Apart from driving up prices, one of the main problems of subsidized government loans is the fact that a student can get the same loan terms for a high-risk degree in art history as for a safer degree in engineering.

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The Broken Window Fallacy and "Blessings" of Destruction in the Real World

Booms and BustsHistory of the Austrian School of EconomicsPhilosophy and Methodology

07/15/2015Mises Daily Articles
It's been a light season for hurricanes and tropical storms in North America, and contrary to what many economics "experts" may think, that's a good thing. After all, natural disasters are extremely costly in terms of opportunity costs and capital...

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It’s Not Just Debt: Government Spending and Easy Money Fuel the Greek Crisis

Big GovernmentGlobal EconomyMoney and Banks

07/13/2015Mises Daily Articles
Debt isn't the only problem Greece faces. Thanks to years of government spending and easy money, the Greek economy long ago turned away from true wealth generating activities and embraced a bubble economy instead...

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Immigration Policy Must Be Decentralized

Big GovernmentDecentralization and SecessionPricesPrivate Property

07/11/2015Mises Daily Articles
Although federal courts have struck down their efforts, states and local governments have attempted to limit taxpayer subsidization of migrant populations. This central planning of immigration by the Feds has served only to increase conflict while swelling the size of government.

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Portugal’s Experiment in Drug Decriminalization Has Been a Success

HealthThe Police StateInterventionism

07/10/2015Mises Daily Articles
Fourteen years ago, when Portugal decriminalized most illegal drugs, drug war proponents claimed the move would drive Portugal into chaos. Today, Portugal has the second-lowest death rate from illegal drugs in Europe with no sign of chaos on the horizon.

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Lenin and Marx: Sound Money Advocates?

Money and BanksWorld HistoryMoney and Banking

07/09/2015Mises Daily Articles
Surprisingly, Marx and Lenin were occasionally insightful when it came to the problems and consequences of fiat money in the economy. In principle, they opposed unbacked currency. But of course, once communists seized political power, those principles went right out the window.

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Greece’s Biggest Problem Is Its Anti-Capitalist Culture

Global EconomyInterventionismMoney and Banking

07/08/2015Mises Daily Articles
Like Argentina and Venezuela, Greece's economy is plagued not just by institutional problems, but by a pervasive anti-capitalism that continually cripples the ability of individual Greeks to build wealth and a solid economy...

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