Bizarrely, people from Paul Krugman to Tyler Cowen seems to think that libertarians rule the world and that everything that has gone wrong is libertarians’ fault.
Generous individuals make it possible for the Mises Institute to offer thousands of books, articles, and videos absolutely free to the public. This work is bearing fruit all over the world.
Central banks have decided that one of their main missions is to prevent deflation. But this only ends up causing the malinvestments that lead to economic busts.
The latest installment in the Understanding Money Mechanics series summarizes the theory of the business cycle originally published in 1912 by Ludwig von Mises and elaborated by Friedrich Hayek.
The quality of the models being used by politicians to set COVID-19 policy is only as good as the data collected. Unfortunately, the data is not very good. Meanwhile, real costs arise from the ruined economy.
Choosing between labor and leisure is not like choosing between apples and oranges. Many people like both kinds of fruit. But labor involves disutility,so a better choice is this: between apples and rotten oranges.
