Steve Mnuchin Defends the Myth of Fed Independence
The idea that the Federal Reserve is "independent" is at best naive, and at worse purposefully misleading.
Mises Wire
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Remembering Oskar Morgenstern
Morganstern is best known as the co-developer of modern game theory with John von Neumann in their 1944 book, The Theory of Games and Economic Behavior.
Conceived in Liberty: The Medieval Communes of Europe
The urban "communes" of medieval Europe were the early cradle of economic and political freedoms that would transform Europe in later centuries.
Trump Readies a New Pentagon Spending Binge
Politicians and bureaucrats have found in Trump a friend who can help fleece the taxpayers for a few trillion more in military spending.
Janet Yellen’s Bland 2017 Forecast
Fed Chair Janet Yellen’s recent speech at Stanford University certainly was much like Ms. Yellen herself: predictable and safe.
The US Navy: A History of Waste and Corruption
When politicians play market without bearing the consequences, they create a network of economic privilege that begins with bribes and ends with bombs.
Can Technology Prevent a Recession?
Technology doesn't tell us much about whether we're prone to a recession. The much larger issue is inflation-induced misallocation of resources.
Janet Yellen’s 2017 Outlook
2017 will be an interesting year with the uncertainty of a Trump administration and the growing need for fiscal policy reform ahead.
Free Trade versus “Free Trade”
To economists, free trade means absence of government interference with trade. To politicians, "free trade" means a complex set of managed policies.
The Bank of England and the ECB Have a Credibility Problem
The mainstream media in Europe and the UK are worried about economic shocks in 2017. We should all be worried.
