Negative interest rates have long since become a reality. But we are not talking about negative real interest rates. This is the case when the return on an investment is lower than the officially stated inflation rate. In today’s context, negative interest rates are rather negative nominal interest rates; that is, the nominal interest rate is below 0 percent.

Among the many insights Mises provides in his magnum opus, Human Action, there are crystal-clear considerations about the price mechanism, the role entrepreneurs play in fostering efficient resource allocation, and how socialism is detrimental to the economy, insofar as it disrupts the smooth interplay of prices, entrepreneurship, and resources’ allocation.

Amid the sociocultural convulsions and boutique displays of urban anarcho-tyranny that have taken place in America in recent months, there has been renewed discussion within certain circles of the liberty movement about how appropriate it is for libertarians and their intellectual brethren to self-identify as “right-wing” or “left-wing.” While libertarianism itself, which merely requires adherence to the nonaggression principle (NAP) and a desire to minimize or abolish state power, need not be considered a “right-wing” or “left-wing” political philosophy, I contend (from a decidedly ri