Mises Wire

The "Bootleggers and Baptists" of the Coronavirus Crisis

HealthU.S. HistoryWorld History

Blog03/20/2020

Although it doesn't explain everything, it's always a good idea to ask "who benefits" whenever governments step in to "solve" a crisis.

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Even When They're Wrong, We Can Learn From Understanding Others' Theories

Other Schools of ThoughtPhilosophy and Methodology

Blog03/20/2020

Learning the history of economic thought is important not because every economist has been right, but because we can learn from their mistakes.

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No, Technology Shocks Aren't Behind Recurring Business Cycles

Business CyclesInterventionismOther Schools of Thought

Blog03/19/2020

Finn Kydland and Edward C. Prescott (KP), the 2004 Nobel laureates in economics think that technological shocks can explain 70 percent of economic fluctuations in postwar US data. Unfortunately their quantitative methods are simplistic and ignore the real problem: central banking.

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The Fed Is a One-Trick Pony

Financial MarketsMonetary PolicyU.S. Economy

Blog03/19/2020

Printing up paper money—which is the Fed's solution to nearly everything—will not bring about a miraculous replacement of the lost goods and services or repair broken supply chains.

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The Global Economy Won't Bounce Back Soon

Global Economy

Blog03/19/2020

It is very likely that the shutdown of major developed economies will be followed by a shutdown of emerging markets, creating a supply shock as we have not seen in decades.

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Government Is No Match for the Coronavirus

Decentralization and SecessionFree MarketsHealth

Blog03/18/2020

The coronavirus crisis must cause us to rethink the idea governments can manage these situations. It is absolutely true that most private industry can be trusted, because the alternative for poor or unscrupulous providers is failure.

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Financialization: Why the Financial Sector Now Rules the Global Economy

Blog03/18/2020

"Financialization" is the process by which a normal economy is transformed into a fragile economy centered around financial firms. Central banks and government bailouts are to blame.

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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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