Mises Wire

Consumerism? Why People Spend on "Useless" Status Symbols

Value and Exchange

Blog3 hours ago

People buy things that reflect their value systems — values learned in homes and other non-market institutions. Meanwhile, markets don't force anyone to buy anything.

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Can We Still Avoid Inflation?

Booms and BustsBusiness Cycles

07/17/2019Articles of Interest
Inflation can always give only a temporary fillip to the economy, and will leave us with a legacy of postponed adjustments and new maladjustments which make our problem more difficult.
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Consumers Will Decide If Women's Sports Teams Get "Equal Pay"

Labor and Wages

Blog07/11/2019

If the fans want the women to be paid more than the men, the consumers will have to spend more on watching them.

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CNN Admits There Are Serious Problems with Central Banks' Low-Interest-Rate Policy

Money and Banks

Blog06/27/2019

There is reason to believe low-interest rate policy has lowered productivity, lessened economic growth, and favored large firms at the expense of small firms and innovation. Greater inequality and stagnating wealth has resulted.

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Central Banks Aren't Really In Control of Interest Rates

Money and BanksMoney and Banking

Blog06/22/2019

The central bank can try to manipulate the interest rate to whatever level it desires. However, it cannot exercise control over the underlying interest rates as dictated by people’s time preferences.

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Cuba Rations Food As Its Socialist Economy Enters Crisis Mode

Socialism

Blog06/11/2019

While many have been talking about Venezuela's food shortages,  Cuba is now implementing a rationing program to combat its very own socialism-induced shortages of basic goods.

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China Abandoned Hard-Core Socialism — So Progessives Abandoned China

World History

Blog06/06/2019

Progressives like John Kenneth Galbraith no longer heap praise on China, given that it long ago abandoned Mao’s austere communism. Instead, modern progressive economists like Joe Stiglitz save their acclaim for the economies of places like Cuba and Venezuela.

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Can Cooperation Replace Competition?

Monopoly and CompetitionValue and Exchange

Blog06/03/2019

Competition and cooperation and not two things in conflict. They are both essential ingredients in a society based on voluntary action instead of violence.

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