Mises Wire

The Skyscraper Curse Hits South America!

Puerto Rico failed to meet a $58 million debt repayment deadline Monday, triggering one of the most significant municipal bond defaults in U.S. history.

The data shows that many Greek workers work for long hours, and some labor data suggests the Greek economy must be fine. But a closer look shows that hard work isn't enough when many others live off the productivity of the working few.

Yes, jobs will be destroyed by innovation, as they’ve always been, but it doesn’t mean we’ll run out of jobs. New ones will be created as new technologies are developed, engineered and maintained. And, overall, these will be better, more high-skilled jobs. The agriculture industry provides a case in point.

I thought this photo (below) from July 2015 did an especially good job of capturing the camaraderie between Joe and his

A Bulgarian translation of Democracy: The God That Failed is now available.

Capitalists generally think in terms of future earnings, and future value of investments often helps determine the present value. Hillary Clinton, however, has decided to achieve her short-term election goal by hectoring capitalists for thinking too much about the short term.

Three months ago, the CEO of Gravity Payments, a Seattle credit card processing firm, announced that all of the firm’s employees would be paid a minimum of $70,000 a year. Now, the firm has fallen on hard times.

The online tech and science magazine Verge recently published an essay on the economic and political impact of disruptive ride-sharing startup Uber: Uber can't be stopped. So what happens next? Whereas one might expect an online tech magazine like Verge, itself part of a wave of disruptive publishing efforts, to be optimistic about innovative tech initiatives, the essay offers a surprisingly bleak, pessimistic, and politicized “analysis.”

Apparently, Verge sees mostly problems with Uber’s challenging of the privileged and guild-based taxi business.

Connecticut has introduced a new death tax. But for some reason, a blatant cash grab like this is never "greed" when a government uses violence to seize wealth. It's only greed when private sector actors want more money.