Mises Wire

What Year Did Healthcare Become a "Right"?

Blog02/05/2020

Was healthcare a natural right two hundred years ago? If so, how is it that this "right" to eighteenth-century medicine morphed into a right to MRIs and chemotherapy? Do rights change with technology? That's not how rights work.

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Shhhh: Repo Operation in Process

The FedFinancial Markets

Blog02/05/2020

These days, the commercial banking system isn’t where the action is. Instead, it’s the shadow banking system that needs direct feeding to goose inflation—at least inflation in asset prices, and also to keep the debt service on the nation’s debt as low as possible.

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Do People Really Seek to Maximize Profit?

Calculation and KnowledgeValue and Exchange

Blog02/04/2020

Economics is not intent upon pronouncing value judgments. It aims at a cognition of the consequences of certain modes of acting.

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And Rightly So: The Wisdom of Neil McCaffrey

Book Reviews

Lew Rockwell reviews a newly released collection of Neil McCaffrey's letters and other writings, which reveal his relationships with members of the early libertarian movement such as Murray Rothbard.

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South Korea’s Neo-Mercantilist Growth Engine Has Stalled

Bureaucracy and RegulationCronyism and CorporatismLabor and WagesWorld History

Blog02/04/2020

After very quickly becoming an advanced economy, South Korea is experiencing declining growth and labor productivity. The culprit, as usual, is government intervention in the market to favor certain interests.

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Mises and Destructionism

Austrian Economics OverviewPolitical Theory

02/03/2020Audio/Video
Progress in economics is progress in civilization. Ludwig von Mises supported economic progress because he valued the benefits of a humane and prosperous civilization.
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Brexit: Predictions of Economic Doom Show Why People Ignore "Experts"

Bureaucracy and RegulationProtectionism and Free Trade

Blog02/03/2020

Experts who predicted economic doom as Brexit approached obsessed over the problem of "transaction costs" in trade. But the EU was imposing countless new transaction costs of its own.

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John Maynard Keynes and Ludwig von Mises on Probability

Calculation and KnowledgeOther Schools of Thought

02/03/2020The Journal of Libertarian Studies
I. INTRODUCTION The complex issues relating to the interpretation and meaning of different concepts of probability and to the legitimate scope of their useful application in the social sciences and in economics belong to the more controversial topics within the subfield of economic methodology...
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