Prices act as signals to entrepreneurs of what value society is placing on particular resources at any given time. If prices aren't allowed to function, goods won't be delivered where they are needed most.
Generally I think people who advocate for minimum wage laws mean well but likely have a fundamental misunderstanding of the topic.
Lebanon's economic collapse is especially disastrous for the nation's youth.
With many of our readers having more time on their hands while practicing social distancing, the Mises Institute is exploring our online arch
September 17, 2019 was a significant day in American economic history.
There is a lot of toilet paper out there in personal hoards that would be sold back into the marketplace were it not for government regulations.
There are two very distinct approaches to crisis resolution.
These top-down COVID-19 measures imposed on entire populations by national governments will come with a cost.
The gap between the US and Spain became larger as time went on. At day 15, Spain's death rate was 4.6 times larger than that in the US. At day 20, Spain's rate had grown to 5.6 times larger than the US rate.
In America today, we have a government of fear. Machiavelli offered that men obey better when they fear you than when they love you. Sadly, he was right, and the government of America knows this.
