Adam Tooze’s The Wages of Destruction (2006) has remained since its publication one of the most influential studies of the Nazi economy. Tooze, an economic historian who teaches at Columbia University, writes from a leftist perspective and does not appear to be familiar with the work of Ludwig von Mises, but the interpretation he offers of the aims of Nazi economic policy is the same as that of Mises. In what follows, I will first discuss Mises’s analysis and then show how Tooze confirms and supplements what Mises says.

The “ease of doing business” rankings is a list of countries ranked according to how easy it is to register, start, and maintain a business in that country.

The Federal Reserve’s Federal Open Market Committee (FOMC) yesterday left the target policy interest rate (the federal funds rate) unchanged at 5.5 percent. The target rate has now been flat at 5.5 percent since July of 2023—as the Fed waits and hopes that everything will turn out fine. In his prepared remarks at Wednesday’s FOMC press conference, Powell continued with the soothing message he has generally employed at these press conferences over the past year.