Mises Wire

Courage Is Contagious

StrategyU.S. History

Blog07/31/2019

Justin Raimondo said things that were painful to hear. He said things that needed saying. He encouraged me. He encouraged friends of mine. He encouraged colleagues of mine.

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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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Correlation ≠ Causation

Philosophy and Methodology

Blog06/01/2019

The experience with which the sciences of human action have to deal is always an experience of complex phenomena. No laboratory experiments can be performed with regard to human action.

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Can Central Banks Avoid Booms and Busts with the "Right" Amount of Money Creation?

Money and BanksMoney and Banking

Blog04/27/2019

Central banks contend they can avoid booms and busts by increasing the money supply the "correct" amount. They are bound to fail.

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Central Banks May be Enabling Unhealthy Corporate Buyouts

Rather than increase efficiency and profitability, corporate managers look for easy ways to increase their salaries through leveraged buyouts. And central banks have a key role in making this easier and more common.

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Can Government Stimulus Bring Us Out of Recessions?

Money and BanksMoney and Banking

Blog04/02/2019

Expansionary monetary policy causes economic recessions. It doesn't cure them.

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Central Banks Shouldn't Fight Deflation

Money and BanksMoney and Banking

Blog03/26/2019

The real problem was the money supply inflation that happened during the boom phase. Combating deflation in the bust phase only superficially treats a symptom of the boom-bust cycle.

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Can Seasonal Adjustments Help Us Understand the Economy?

Money and BanksMoney and Banking

Blog10/06/2018

All the sophisticated quantitative methods by themselves can't help us understand the cause-and-effect of what's behind the boom-and-bust cycle.    

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