Mises Wire

Protectionists falsely claim that free trade provides only negative consequences to the economy while simultaneously claiming protectionism provides net benefits.

Official Washington is shocked—shocked!—at the alleged influence peddling by Senator Robert Menendez. But it is the pursuit of empire and attempts by Washington to meddle everywhere that make such peddling so profitable.

If the only antidote offered to prevent a 2008-style contraction is monetary easing, then the risk of stagflation is even higher. Without drastic cuts to deficit spending, or a recession, the likely outcome is stagflation.

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Keynesians claim that the source of economic growth is consumer spending. Austrians know that net savings are the key to a growing economy.

Hans Hoppe theorized that monarchs, as opposed to democratically-elected political authorities, would have lower time preferences and would be less likely to engage in reckless government spending. Unfortunately, at least one Medieval Danish king acted like a modern politician.

In the wake of the Arab Oil Embargo of 50 years ago, Congress banned U.S. export sales of crude oil. The results were different than what government "experts" imagined.

If we read between the lines, it is apparent that the Fed is hoping that price inflation will fall to politically acceptable levels without any additional tightening, and without a recession.  But "hope" is all the Fed has. 

Not satisfied with the futile and destructive wars it has fought in this century, leaders of the US Armed Forces now want reinstatement of the draft. Instead, perhaps our government should give peace a chance.

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