Mises Wire

The popular notion that indigenous peoples residing in a precapitalist order are particularly skillful at managing the earth's resources is a myth.

Even Now, Japan and Hong Kong are moving only very slowly toward economic "lockdowns." Korea and Taiwan employ different strategies altogether.

Although bureaucrats with safe jobs and luxury homes like Anthony Fauci continue to insist mass unemployment is merely "inconvenient," job losses mean many Mexicans could be staring grinding poverty in the face.

Medical experts have tunnel vision when it comes to disease and public policy, and they greatly overestimate their own abilities to anticipate unintended costs and consequences.

After weeks of bungling, faulty tests, and policy reversals the CDC bureaucrats managed to achieve some semblance of competence. But by then they were already far behind the curve.

To spread the benefits of goods and services, we must first spread the mindset needed to take on the task of producing goods and services. That is, the mindset of entrepreneurship.

Politicians and pundits have a blind spot when it comes to international economic transactions. They ignore a portion of trade! In particular, they ignore trade in claims on future income—that is, stocks and bonds.

Entrepreneurs can offer new ways of serving established markets, but large institutions will keep with what has worked in the past so long as it just continues to work in the present. Radical change happens only in an emergency. For the British university that time has now arrived.

The nonaggression principle—"anything peaceful"—comes as close to a value-free analysis in a political, ethical, economic, and legal theory as conceivably possible. It was insufficient for Rothbard, because he rightly found it insufficient for liberty.

If buyers aren't allowed to compete in terms of prices, they'll be forced to compete in terms of time waiting, distance traveled, or other real costs.