Mises Wire

Patrick Deneen not only misunderstands John Stuart Mill, but he also misunderstands libertarians, claiming they are elitists who believe the world should be ruled by experts.

Leftists claim that developing nations are poor because Western nations once practiced colonialism. The truth is that empires do not foster economic growth.

As long as scarcity exists, there will be greed. Thank goodness free markets enable greedy people to serve others.

How can a bank “create money out of thin air”? We must enter the magical kingdom of “fractional-reserve banking,” where deposits are turned into loans, loans are turned into money, and so on, to find out.

The Federal Trade Commission is heavily scrutinizing the proposed merger between Microsoft and Activision. Why? Because Sony is against it.

What happens next will depend heavily on what the regime will feel is necessary to buoy public support for the regime and its current ruling party. 

One of the standard doctrines of mainstream economics is that the assumptions of a model do not have to reflect reality. Austrian economics vociferously disagrees.

As Washington cheers the so-called budget deal, the real problems loom. Liquidity issues are next.

Congress is silent – or compliant – as we lurch forward toward disaster for no discernable US strategic goal. Biden – or whoever is actually running the show – is forging straight ahead.

In today's progressive climate, sexual assault charges are easy to make and hard to refute, even when they are demonstrably false.