Long-term interest rates are going down, but many Fed observers, relying on expectations theory, wrongly think they should be going up. If we understand Mises and time preference, however, we can see the true trend much more clearly.
The trucking industry has historically offered many opportunities for small-scale owner-operators and laborers alike. Government management of the industry, however, from environmental regulations to labor guidelines, have cut deep into trucker productivity, all the while raising prices for both consumers and producers who depend on trucking.
My journey with Austrian economics and the Mises Institute began in 1992.
Supporters of minimum wage hikes claim that such hikes have little or no effect on employment, but the law of demand makes it clear that the effects of such price controls are very real.
The Fed and it’s friends blamed cold weather for much of the year’s lackluster economic growth.
Amateur social scientists such as Norbert Wiener (a professional mathematician) predicted, in 1949, that we faced “a decade or more of ruin a
Ludwig von Mises established the foundations of modem Austrian economics while Irving Fisher established the foundations of modem mainstream macroeconomics and central bank policy.
Vedder and Gallaway's (2011) rejoinder to my comment on MacKenzie (2010) seems to fundamentally misunderstand both my comment's argument and the contribution of Rose (2010).
From Mutual Aid is not, nor does it intend to be, a comprehensive study demonstrating the superiority of private social welfare efforts over government programs.
Most historians claim that Herbert Hoover adhered to a policy of laissez faire after the stock market crash of 1929. This laissez faire policy is allegedly responsible for the severity and persistence of unemployment
