Mises Wire

Richard Cantillon, whom Austrians consider to be the real father of modern economics, noted that new money creation has uneven effects. Jonathan Newman demonstrates how those effects take place.

Federal spending is not the only out-of-control government spending in the US. A number of states have been overspending and now face declining revenues. Will bankruptcies follow?

Opponents of secession use a moral doctrine which justifies regimes' denial of the right of self-determination. These de facto colonialists tell us separatists are too backward and immoral to be allowed to govern themselves. 

The president wants to appear as a “scourge” of the ultrawealthy. But he has only been a scourge of the productive wealthy while remaining a dear ally of unproductive cronies.

Understanding the scientific method is crucial when examining complex phenomena and related hypotheses like “man is the main cause of climate change.” Unfortunately, "political method" has replaced the scientific method.

While the ruling classes insist that money is whatever the government says it is, historically money has been gold. That has not changed even in the age of debased currency.

Paul Krugman and other Keynesians believe that since workers are unemployed during a recession, government spending to employ them is costless. Instead of creating wealth, these make-work schemes destroy it.

The founders of the United States warned against getting entangled in foreign wars. Unfortunately, political elites today seek to expand the US empire, leaving death and destruction in their path.

Congressional Democrats are trying to intervene in a complex and varied market they know little about but that consumers navigate without need of help. This will not end well.

What is different about the US's empire is that it has been fabulously successful. It is so successful, in fact, that the territories that used to be obvious colonies have ceased to have any distinct political identity.