Mises Wire

The Second Round of Lockdowns Won't Be as Easy as the First

U.S. History

Blog06/26/2020

A second round of lockdowns will assault an America already suffering from widespread unemployment and a fragile economy. Even worse, round two is likely to last longer than round one, bringing an even larger economic and social toll.

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Rothbard on Substitutionism

The Police StateWar and Foreign PolicyPhilosophy and Methodology

Blog06/26/2020

Rothbard has explained how it is wrong to equate what would be reasonable for a private protection agency with what is permissible for the state.

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Are Fractional Reserve Bank Deposits Money?

Money and BanksMoney and Banking

Blog06/26/2020

It is possible to conceive of a world where fractional reserve banking is understood by both banker and depositor and involves no deception or fraud. But in that world, deposits cease to be money and become complex credit securities.

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A Never-Ending Story of Bailouts, Moral Hazard, and Low Economic Growth

Cronyism and CorporatismU.S. EconomyU.S. History

Blog06/25/2020

The history of bailouts in the United States is a record of broken promises and growing moral hazard.

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The Corona Crisis Could Bring a New Era of Decline for American Core Cities

Blog06/25/2020

Faced with declining city budgets, harsh future COVID lockdowns, and more riots, many residents and business owners in America's core cities will likely decide the cities aren't worth the trouble anymore.

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The Austrian "Credit Money" Craze of 1920

After the Great War, Austrian cities and towns began issuing their own money. The Germans tried something similar, but without the voluntary and decentralized aspects of the Austrian model. German disaster ensued.

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Why Central Banks Are a Threat to Our Savings

Money and Banking

Blog06/25/2020

Contrary to what many modern economists say, increased saving is not a problem for the economy. The real problem stems from declines in production and saving, and these often result from central banks' monetary policy.

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New Colorado Police Reform Ends Cops' Qualified Immunity and Sidesteps Federal Courts

Blog06/24/2020

Federal judges invented the notion of "qualified immunity" to protect police from lawsuits. So now Colorado has done an end run around the federal courts and removed qualified immunity as a defense.

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