Mises Daily

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The Failed Moral Argument for a "Living Wage"

September 4, 2015
A “living wage” is a function not just of wages, but also the cost of living. So why aren’t living-wage advocates picketing grocery stores, home sellers, and gas stations demanding they slash prices? Why are employers solely responsible for making everything affordable?...

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Why Economics Matters

September 3, 2015
Economics is not a popular topic among the general population. When economics is discussed at all, it’s in the context of politics — and politics gives us only the blandest, safest, most meaningless platitudes about economic affairs. The 2016 campaigns will be no different...

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College Towns Join the Mania: The Skyscraper Curse in Auburn

September 2, 2015
College towns like Auburn, Alabama are booming with more luxury apartments and seemingly more of everything else, too. But the story really began far away in Washington, DC where the Federal Reserve targets interest rates.

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The Economics of Bernie Sanders

September 1, 2015
Bernie Sanders is not a new Mao or Marx. He’s really just a modern New Dealer, and he’s recycling old New Deal plans and rhetoric. And, just like the original, Sanders’ New Deal will do nothing to end our current economic malaise...

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More Evidence that Global Economic Inequality is Decreasing

August 31, 2015
The myth that markets cause more inequality than controlled economies continues to endure. But the data showing that markets and industrialization make millions better off than other economic systems continues to pile up.

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Guns, Drugs, and Booze: The Bipartisan Support for Prohibition

August 29, 2015
In the United States, both major parties are very fond of using the power of government to prohibit voluntary transactions among consenting adults. They merely disagree on which things to ban under pain of arrest and imprisonment.

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There Is No Such Thing as "Settled Public Policy"

August 28, 2015
Following Supreme Court decisions, commentators often claim that a law is now "settled public policy." This is a tactic to silence dissent, and draws on fanciful ideas about the permanence of federal law. In real life, no political question is ever settled...

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Why Devaluing the Yuan Won't Help China's Economy

August 27, 2015
China has recently devalued its currency. Like many governments, the Chinese government thinks this will help the economy by increasing exports. But it will really just destroy real wealth in the process.

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Hostages and the Right to Pay Ransom

August 26, 2015
Many governments — including the US — have often inhumanely forbidden families from supplying ransoms to kidnappers to save loved ones. The Obama administration recently, and correctly, suspended the practice of prosecuting families in these cases...

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Reliving the Crash of '29

August 25, 2015
The crash of 1929 came after a decade of interventionist politics following world War I. "Free markets" were blamed anyway. Decades later, we pursue even more interventionism, and when it fails, we blame "free markets" all over again...

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