Mises Daily

Many Austrians saw the bust coming, and thanks to Austrian economics, we also better understand the details of how booms and busts work.

Industrious low-income people often must turn to doing business in the black market to avoid the burdensome costs of government regulations. The creation of a cashless society would ensure that even these opportunities to make a living will be abolished forever.

Those who are calling for small reforms like changes to the Fed’s dual mandate are wrong. It is now clear that the Fed and the European Central Bank are hard-wired to inflate the money supply while encouraging banks to make excessively risky loans. Radical changes are needed.

Despite claims to the contrary, Japan’s economy is continuing to suffer mightily under the leadership of Prime Minister Abe Shinzo. Abe’s so-called “three arrows” of monetary stimulus, fiscal stimulus, and structural reform, have crippled the Japanese economy with higher taxes, inflation, and easy money.

Walter Block’s new book Toward a Libertarian Society covers a wide variety of topics from the death penalty to secession, and from war to macroeconomics.
 

Many Christians call for legislation to regulate, control, and ban activities that they deem as social vices.

It is a great irony that visions of socialist harmony necessarily result in rancorous and destructive struggles among groups with contradictory visions of the good society. It is perhaps equally ironic that profit-driven competition in markets results in the highest attainable degree of social harmony. Yet, this is how the world really works.

ECB’s Mario Draghi has taken over from Ben Bernanke as the world’s most enthusiastic money printer.

For 100 years, the Fed has served to protect the interests of powerful banks through inflationary monetary policy. The Dallas Fed opened an historical exhibit, the Kansas City Fed released a documentary, and the New York Fed even started a Facebook page, all to commemorate the date.

Jeff Deist talks with Tom Woods about Congressional staffers and the DC establishment's grudging respect for the Ron Paul revolution.