Mises Wire

The "Miracle Recovery" Narrative: We'll Just Print Our Way to Prosperity

Booms and Busts

Blog05/03/2021

With a new round of panic-induced lockdowns, the situation in Europe is one closely resembling a state of national emergency. Yet the official narrative tells us the European economy is robust and flourishing. Time for a reality check.

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The Dark Side of Yield Curve Control Policy

Money and Banking

Blog05/03/2021

The interest control policy is ultimately an admission of “fiscal dominance.” That is, it is increasingly difficult to deny that the state's budget situation is what dictates monetary policy. Now, monetary policy must first serve the interests of the regime itself. 

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No, Conservatives Should Not Embrace MMT

Blog05/01/2021

Instead of trying to spin conservative justifications for disastrous monetary policy, conservatives should join libertarians and classical liberals in working to limit government power while restoring sound money and greater market freedom.

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The American Rescue Plan: Limits of the Highly Visible

Booms and BustsCronyism and CorporatismEconomic Policy

Blog05/01/2021

In the long run, economic stimulus creates no shortage of losers. The state’s objective is always to extract as many eggs from the golden goose as possible, only now it's not important to keep the goose alive.

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The Fundamental Economic Problem with Biden's Rescue Plan

Political TheoryValue and Exchange

Blog04/30/2021

Do huge wealth redistribution schemes like Biden's new plan actually make people better off? Some people will get a net benefit. How how numerous are they? How many millions will take a net loss? The government has no idea.

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Lord Acton: Libertarian Hero

World History

Blog04/30/2021

When some years ago I first read Murray Rothbard's description of Lord Acton as "the great Catholic libertarian historian," I suspected overstatement. The more I learned from and about Acton, however, the more Rothbard's words rang true. 

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Milton Friedman's Methodological Mistake

Other Schools of ThoughtPraxeology

Blog04/30/2021

Key methodological differences between Austrians were highlighted in Milton Friedman's "The Methodology of Positive Economics." A key piece of conflict: Friedman's focus on prediction rather than explanation.

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Tobacco Smokers: America's Most Persecuted Minority

Big Government

Blog04/29/2021

If today they come for the smoker, tomorrow they will come for you. Neo-Prohibitionism has been long on the march.

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