Mises Wire

Japanization: 30 Years of Failed Economic "Stimulus"

Labor and WagesMonetary PolicyWorld History

Real wages in Japan have been declining thanks to decades of expansionary monetary and fiscal policies. Now "Japanization" increasingly looks like a fate that awaits Europe.

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The Fed Has Sufficient Tools—to Wreck the Economy

Booms and Busts

Blog03/17/2020

These famed "tools" of the central bank are nothing but cunning and arcane techniques for conjuring additional trillions of dollars out of thin air and pumping them into the global economy.

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The Coronavirus Won't Be the Cause of the Next Bust, but It Will Make It Worse

Booms and BustsMonetary Policy

Blog03/12/2020

Although shocks can disrupt the pace of economic activity, they have nothing to do with the phenomenon of recurrent boom-bust cycles. The cycle requires something more. A central bank, for instance.

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Will More Easy Money Strengthen the Ailing Economy?

Booms and BustsMoney and Banks

Blog03/11/2020

Lower interest rates won't make an economy grow. What matters is real savings.

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Why Medicare for All Would Require Huge Tax Increases

Blog03/11/2020

Medicare for All advocates claim they are increasing access to medical services. But the plan mostly just increases demand without increasing supply. The "solution" comes later with price caps, tax hikes, and shortages. 

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Why Sweden’s Negative Interest Rate Experiment Is a Failure

Blog03/09/2020

After years of negative rates, Sweden's central bank moves toward positive rates again. But this is setting the stage for an economic bust.

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How Government Spending Destroys Wealth

Taxes and SpendingInterventionism

Blog03/02/2020

Government spending overall—not just deficits—is the real problem. Government spending diverts wealth away from truly productive people and toward the government and its favored groups.

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How Fractional Reserve Lending Makes Money Disappear

Blog02/24/2020

Because banks make unbacked "loans," they create new money that later disappears when repaid. If these loans are not renewed, economic depression sets in.

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