Mises Wire

Economic Stats Won't Tell Us What Really Causes Recessions

Booms and BustsMoney and Banks

Blog12/31/2019

The mainstream National Bureau of Economic Research definition of recessions is of little value. Real saving, not consumer demand, is the real driver behind economic growth.

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Easy-Money Policies Don't Solve the Problem of Idle Resources

Blog12/07/2019

Loose monetary policy can get people to use idle resources. But this new economic activity will likely be in the service of bubble industries that don't create real wealth. Moreover, these bubbles create many idle resources of their own when the bust comes.

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Exports: Currency Devaluation Won't Grow the Economy

Money and Banking

Blog12/02/2019

When governments devalue the currency to push more exports, the country is getting rich in terms of foreign currency, but it is getting poor in terms of real wealth.

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Economic Growth Does Not Cause Price Inflation

Blog10/07/2019

It is not true that a growing economy will lead to price inflation. A growing economy is an increasingly productive economy and leads to dollars chasing a larger number of goods and services — causing deflation.

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Economics: Vocation or Profession?

EducationPhilosophy and Methodology

07/16/2019Mises Daily Articles
The vocational economist is dedicated to a body of ideas — not merely money, fame, or power — and strives to master the system of economic theory as handed down by the great system builders and innovators of the past.
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Economic Models vs. The Real World

Money and BanksMoney and BankingPhilosophy and Methodology

Blog05/04/2019

Economic theory must have only one purpose — to explain economic activity. However, statistical methods are of no help in this regard.

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Economics as a Vocation

Education

11/07/2018The Free Market
As Mises put it "The development of a profession of economists is an offshoot of interventionism."
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Easy Money, Easy Morals

Booms and BustsMoney and BanksMoney and Banking

10/30/2018Audio/Video
In this 33-minute talk Joseph Salerno discusses the right way to define inflation, and how it impacts both economic prosperity and culture.
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