Mises Wire

Beware of Defense Secretaries Pledging Reform

War and Foreign Policy

For the Pentagon, happy days are here again. With a budget of more than $1.4 trillion for the next two years, the department is riding high as it attempts to set the stage for yet more spending increases in the years to come.

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Why Does a Yield-Curve Inversion Suggest a Recession?

Blog09/25/2019

Why do yield-curve inversions so often suggest a recession is on the horizon? Understanding malinvestment and bubble economics can help.

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There Are Two Sides to Every Trade. And Both Sides Benefit.

Protectionism and Free Trade

Blog09/25/2019

In a globalized world, nearly every product or service relies on products and services from somewhere else.

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Artificial Intelligence and Super-Powered Economic Errors

Global Economy

Blog09/23/2019

Kai-Fu Lee’s new book AI Superpowers offers many insights into the development of of AI, but too much of the book is spent chasing economic phantoms.

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Look to China to Learn About America

The Police State

Blog09/14/2019

The old American way of doing things came to an end with the 9/11 attacks. At that point, the national-security branch of the federal government adopted many of the same powers as the Chinese communist regime, and without any amendment to the Constitution.

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The High Price of a "Free Lunch"

Taxes and Spending

Blog09/06/2019

Most everyone dislikes being taxed to pay for government. So governments turn to borrowing and printing money. But those methods aren't really any less costly than taxation.

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Labor and Labor Costs: Using Theory to Understand the Data

Labor and Wages

Blog09/02/2019

Labor is not homogeneous, so data analysis that speaks simply of "labor" and "labor costs" must be treated with extreme caution.

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Austrian Economics Can Help Investors Look Beyond Short-Term Thinking

Blog08/17/2019

Francsico García Paramés notes that economists who focus on near-term forecasting are generally useless to investors. But principles of Austrian economists — and a long-term view in general — can provide insights outside the mainstream.

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