It isn’t just a “fashionable” online currency, but something far more revolutionary, Fernando Ulrich of the Instituto Ludwig von Mises in the southern Brazilian city of Porto Alegre told IPS. Ulrich is a Bitcoin enthusiast, saying that not only does it reduce transaction costs, but it also represents a new way of thinking about the international economy without interference from national states and central banks. “I was astonished at its r

A newly released report by the U.S. Census Bureau indicates that most Americans  living below the bureaucratically designated “poverty line” enjoy most modern conveniences.  For example more than 80 percent of U.S. households below the poverty line have a: refrigerator (97.8%); stove  (96.6%); television (96.1%); microwave oven (93.1%); air conditioner (83.4%); VCR/DVD player (83.2%); and cell phone (80.9%).

This is an expanded version of today’s Mises Daily article with additional analysis and more references to scholarly articles:

More Evidence That Krugman Is Wrong About Hayek and Mises

Coming next week at Mises Academy, Mark Thornton will be teaching  a course on Bubbles, Booms, and Busts. Daniel J. Sanchez interviews Dr. Thornton on the class and the nature of booms, busts, and the business cycle:

Earlier this year, the distinguished Harvard biologist, E.O. Wilson wrote of the limitations of mathematics in the sciences in the Wall Street Journal. This native son of Mobile, Alabama — better known elsewhere as the Father of Sociobiology — argued that the ability to formulate conceptual contributions to science does not stipulate mathematical expertise or even a mathematical component.