Mises Wire

Understanding Money Velocity and Prices

Money and Banks

Blog55 min ago

The velocity of money does not have a life of its own. It is not an independent variable and it cannot cause anything, let alone offset the effect of increases in money supply on the prices of goods.

Read More

Rothbard: With Interest Rates, "There Are Two, Opposite Causal Chains at Work."

Blog10/21/2021

The relative strength and reaction times of changes in rates depend on the subjective expectations of the public. These changes—like economic changes in general—cannot be forecast with certainty. 

Read More

What Spooner Can Teach Us in Our Age of Neofascism

U.S. History

Blog10/21/2021

Neo-Spoonerism: there is no treason against the federal government, because the federal government does not abide by the document which it claims as its foundational authority to govern.

Read More

Three Things the Fed Must Do to Normalize Bond Markets

Money and Banks

Blog10/21/2021

Policy normalization—defined as closing down the nonconventional toolbox and restoring a well-functioning price-signaling mechanism to the bond market—is difficult but possible.

Read More

Paul Krugman's One-Man War on Science

Bureaucracy and Regulation

Blog10/20/2021

One cannot declare the scientific method simultaneously to be both valid and invalid, yet, this is what Krugman is doing.

Read More

How the West Pushed back the Frontiers of Death

World History

Blog10/20/2021

Thanks to capital accumulation and other innovations in the West, life expectancy grew beyond anything previously imagined. The benefits spread from there.

Read More

GDP Tells Us Little about the Health of an Economy

Blog10/20/2021

If people decide to save rather than spend, this could lead to a fall in GDP, even though people are becoming better off beyond the short term.

Read More

Governments Love Inflation, and They Won't Do Anything to Stop It

Booms and Busts

Blog10/19/2021

In spite of what they say, governments will do nothing about inflation. Even though "money printing" is the real cause of this, governments will just keep blaming red herrings like supply chain problems.

Read More
Shield icon wire