Mises Wire

Keynes and the Euthanasia of the Rentier

Financial MarketsCapital and Interest TheoryOther Schools of Thought

Blog04/04/2020

Over eighty years ago, Keynes condemned the rentier and welcomed his future disappearance. Following in his footsteps, politicians and central bankers today are ever closer to effectively bringing this about.

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The Fed Offers "Bread," but No Circuses

InflationTaxes and Spending

Blog04/04/2020

The truth is that you and I need goods and services to live, not electronically printed dollars.

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Japan’s Productivity Has Been Slashed By Government Meddling, Not Demographics

Bureaucracy and RegulationMonetary PolicyWorld History

Blog04/03/2020

The popular narrative is that demographics are driving Japan's declining worker productivity. But the real culprit is government regulations and a lack of entrepreneurship.

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Equality and Levelling Down

SocialismPhilosophy and Methodology

Blog04/03/2020

Egalitarians think that equality has intrinsic value: they advocate it for its own sake, not just to forestall bad consequences. But why is a situation in which some in it have been made better off, and none worse off, worse than one of equality?

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Capital Accumulation: The Way to Increase Wages

Labor and WagesTaxes and Spending

Blog04/03/2020

Real higher wages can't be created with a government fiat. Worker productivity must first be increased through greater investment.

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The Fed Is Running Out of Bubbles to Create

Booms and BustsMoney and BanksMoney and Banking

Blog04/03/2020

With each passing recession, the Fed finds it harder to refuel the last bubble, but the market moves on to the new bubble as the Fed keeps interest rates artificially low.

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How Easy Money Is Increasing the Devastation of the COVID-19 Panic

Booms and BustsInflationMonetary Policy

Blog04/02/2020

Central banks have created a brittle economy without real savings and without much room to maneuver. Central banks now want more of the same in a bid to fix what they broke.

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Do the Textbooks Get Money and Banking Backwards?

Blog04/02/2020

Over the years a chorus of critics has alleged that the textbook view of how a central banks buys government debt in "open market operations" is backwards. They argue that in reality commercial banks take the lead in making loans without regard to their reserves.

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