Mises Wire

Black Markets Show How Socialists Can't Overturn Economic Laws

SocialismWorld History

Blog42 min ago

In the Soviet Union, any significant goods had two price tags: one real and another virtual. One was the actual black-market price. The other was the "official" government price.

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The Fed Fears Rising Market Interest Rates

1 hour agoPower & Market

The demand for loans among consumers and business owners is rising. And that could lead to a flood of new money into the economy. But the Fed is (rightly) afraid of where this might lead.

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Richard Cantillon As a Proto-Austrian

History of the Austrian School of EconomicsMoney and BankingProduction Theory

06/23/2019Audio/Video
Jeff Deist and Mark Thornton discuss the works of one of the fathers of modern economics: Richard Cantillon.
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Elizabeth Warren's Antitrust Crusade is an Economic and Civil Liberties Nightmare

Big GovernmentU.S. HistoryMonopoly and Competition

Blog06/22/2019

Antitrust has a very checkered past and those who advocate its use would do well to study its history more closely.

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What the Number Crunchers Get Wrong about the "Velocity of Money"

Money and BanksMoney and BankingOther Schools of Thought

Blog06/22/2019

The "Velocity of Money" Is a product of human choices and human values. It's not something we can just plug into an equation.

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Central Banks Aren't Really In Control of Interest Rates

Money and BanksMoney and Banking

Blog06/22/2019

The central bank can try to manipulate the interest rate to whatever level it desires. However, it cannot exercise control over the underlying interest rates as dictated by people’s time preferences.

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The Alleged Absence of Depressions under Totalitarianism

Business CyclesHistory of the Austrian School of EconomicsMonetary TheoryOther Schools of Thought

06/21/2019Mises Daily Articles
Where there is no business at all, business can be neither good nor bad. There may be starvation, and famine, but no depression in the sense in which this term is used in dealing with the problems of a market economy.
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