Mises Wire

The Fed's Power over Inflation and Interest Rates Has Been Greatly Exaggerated

Booms and Busts

Blog06/30/2021

Because of past easy-money binges, the pool of wealth may be declining just as prices are increasing. And we're likely to see upward pressure on interest rates. This is bad news, and shows the limits of the Fed's power. 

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The Tyranny of the Minority Is Just as Dangerous as the Tyranny of the Majority

Free MarketsPolitical Theory

Blog06/30/2021

We should be quite skeptical when states impose the opinion of minority groups on the majority through special programs in schools and elsewhere. Such programs likely involve “positive discrimination” against particular groups, consistent with state objectives.

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The Stimulus Boom Is Already Over. Now Comes Stagnation.

Booms and Busts

Blog06/28/2021

It's already clear that after an initial sugar high caused by stimulus funds, there's now hardly any "bang for the buck" from stimulus funds. In fact, governments are spending millions for each job "created" by stimulus.

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The Fed: Why Federal Spending Soared in 2020 but State and Local Spending Flatlined

Taxes and Spending

Blog06/25/2021

In 2020, federal spending grew year-over-year at the highest rate since the Korean War. But state and local spending growth flatlined. Why? The answer lies with the Federal Reserve and how the feds can spend and borrow a lot more than any state. 

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The Feds Collect Most of the Taxes in America—So They Have Most of the Power

U.S. Economy

Blog06/24/2021

The federal government collects a lot more in taxes than the state governments do. And the feds also spend a lot more. This tells us a lot about how the federal government came to dominate all political systems in America. 

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The Real Trickle-Down Effect: Making "Luxuries" Affordable to Regular People

Global Economy

Blog06/24/2021

The "trickle down" effect is real in how capitalists are motivated to expand affordability of their products and services. Mobile phones and air travel were once just luxuries enjoyed by a select few, but are now widely affordable. 

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The Covid Lockdowns Showed Us How Dangerous Social Engineers Have Become

HayekSocialism

Blog06/22/2021

It's fairly easy to destroy the spontaneously created institutions and groups that make up a well-functioning society. But it is nearly impossible to rebuild them once they're destroyed by central planners. 

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Transitory Inflation or Stagflation?

U.S. Economy

Blog06/21/2021

Transportation problems mixed with an ongoing government spending spree are pushing prices higher. But output doesn't exactly seem to be roaring ahead. That raises the specter of stagflation. 

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