Mises Wire

Even Though They Are in Long-Term Decline, Labor Unions Still Threaten the Economy

Economic PolicyFree MarketsLabor and WagesMedia and Culture


Although the percentage of the unionized U.S. workforce has fallen in recent decades, labor unions still are a threat to our economy and our collective wellbeing.

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Ethnic Prejudice and Wealth Gaps: Does the First Lead to the Second?

Economic PolicyMedia and CultureU.S. History


As politicians at all levels debate paying black Americans "reparations" for chattel slavery, a careful study of the wealth gaps between ethnic groups shows that ethnic prejudice explains very little. Other factors matter more.

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Eurodollars as a Fractional Reserve Market

Booms and BustsInflationMonetary PolicyU.S. Economy


We should not just be concerned about problems in the American banking system, but also about the proliferation of Eurodollars.

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Easy Money Is a Much Bigger Economic Problem than Debt

The FedMonetary PolicyTaxes and SpendingU.S. Economy


While many economists claim that high overall debt levels can lead to economic recessions, irresponsible government spending and money expansion are the real culprits.

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Economic Calculation Is Nonbinary

SocialismCalculation and KnowledgeEntrepreneurshipPraxeology


Economic calculation is not an either-or proposition. Even in so-called market economies like that of the USA, there is plenty of government intervention that distorts market processes.

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Even in Slave Economies, the Division of Labor Was Inescapable

Legal SystemWorld History


Even under chattel slavery, inequality was still pervasive. Carpenters, sugar boilers, blacksmiths, cabinetmakers, and rum distillers constituted an elite core of slaves.

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Egalitarianism as a Revolt against Safety

Legal SystemMedia and CultureProgressivism


Some residents of St. Louis, fed up with the nonprotection from the city's police, have hired private security to deal with the problem. The egalitarian Left, of course, doesn't like that.

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Econometric Models Cannot Fulfill the Role of an Economics Laboratory

Economic PolicyRationalismPhilosophy and Methodology


In their desire to make economic theory emulate physical sciences, economist create models that do not reflect genuine human action.

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