Mises Wire

Far from being a sign of alleged capitalist brutality, the spread of international trade and market freedom is a sign of greater global cooperation and solidarity.

It isn’t a good argument against Austrian economics that someone might come up with a science that made better predictions. You have to show us the science, so that it can be compared with praxeology. Suffice it to say that this hasn’t been done.

Although politicians lecture private companies for raising prices, it is governments that have for decades raised the prices of goods and services by limiting supply and raising costs.

At some point in early April, the official narrative switched form "don't let hospitals get overwhelmed" to "you're locked down for years until there's a vaccine."

In a world of scarcity, there are no solutions, only tradeoffs.

Although many claim "nobody saw this coming," some entrepreneurs planned ahead and also have found ways to cater to customers under new conditions.

Governments can increase GDP numbers simply by spending more, and this can reduce debt as a percentage of GDP. But what if we calculate GDP using only private spending?

Police have long shown a preference for enforcing petty laws against petty offenders. After all, real violent criminals fight back. The current COVID-19-induced crackdown on business owners has made things even worse.

The current crisis for airlines is even worse than it was after 9/11.

More money creation doesn't necessarily mean higher consumer prices. But, if production is falling while consumers use their stimulus checks to buy food and clothing, we could see noticeable price inflation.