Mises Wire

American political, educational, and economic life is increasingly dominated by "experts." We should not be surprised that they fail most of the time.

As the economy moves into recession, we should understand how we got there and what is needed to bring about a quick and lasting recovery.

Geuss claims to be a liberal against liberalism. Given that he has praised Lenin and Mao, that part about being against liberalism is certainly true. 

The standard line from progressives is that free markets usually fail in developing countries. The economic numbers tell a much different story.

Ours is an age of the progressive expert who nearly always is wrong but still is embraced by progressive politicians, the media, and academe.

Cheap money in the last decade has meant good times for companies that barely make money and hire employees who barely work. But those times are now ending. 

One might assume that new rounds of monetary stimulus will bring new peaks in housing construction, reversing the ongoing housing shortage.  That hasn't happened.

The Federal Reserve has not only mismanaged the US economy; even its own "portfolio" is underwater.

Value is a moving target because consumers want change over time and innovations and new opportunities. The constant adjustments mean the market is best understood as a process.

The Fed's predictable response to inflation is based on erroneous economic thinking common with Keynesians. Only a free-market approach can reduce inflation and restore true market interest rates.