Global Economy

As an exciting year comes to a close, we want to thank all of our incredible members that allow us to do the work we do in advancing Austrian economics, freedom, and peace.

Former Mises Fellow and current economics professor Mateusz Machaj discusses free market reforms in Poland, central banking, and the lack of Polish appetite for joining the eurozone.

Government failure was being felt everywhere this week, from the massive law-enforcement failure in Sen Bernardino to the crumbling economy in Brazil. Meanwhile, government tells us it only needs a little more money, power, and time to solve all problems.

As the economy worsens, the Brazilian Congress this week announced that it will impeach the president of Brazil. Unfortunately, impeaching President Dilma Rousseff by itself will do little to fix Brazil’s economy when Brazilian politics remains dominated by anti-market forces.

The 'good' news this holiday season comes from the IMF, as the Fund decided yesterday to include the yuan in the basket of currencies which underpins its Special Drawing Rights (SDR).

The continuing power of the US dollar was called into question this week as the International Monetary Fund added the Chinese yuan as a part of the IMF's "currency" known as Special Drawing Rights. What does this mean for the US and China?

There were many state and local elections in the US this week, but few of them will result in anything that will combat widely held and popular errors about central banking, drug prohibition, and the global environment.

Farmers have been using monkeys to harvest coconuts in Thailand for hundreds of years. But now, animal rights activists have decided that these farmers should have their livelihoods destroyed in order to save the monkeys from "slavery".

Without freedom in ideas and the profit motive, entrepreneurs will be unable and unwilling to spread the benefits of science across the globe, and countless advances will be doomed to obscurity, when they could be used to improve human life.

Historically, reserve currencies have arisen without the help of the IMF, but we’re now witnessing a situation in which the IMF may declare the Chinese yuan a “reserve currency” as part of a larger game by global elites to manipulate global exchange rates.