Mises Wire

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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The State: The Deadliest Virus

Big GovernmentSocialism

Blog06/24/2020

The deadliest virus consists of the deification of human reason and the systematic use of coercion, which the state embodies.

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Why the New Economics Just Boils Down to Printing More Money

InflationOther Schools of Thought

Blog06/15/2020

The new Keynesian recommendation for monetary policy is to “stabilize the growth of aggregate demand.” In plain language this means that the monetary authorities should never stop flooding the economy with paper money.

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The Quantity Theory of Money and the Equation of Exchange

InflationOther Schools of ThoughtPrices

Bad theories have a long life in the social sciences, and the crude quantity theory of money is one that refuses to go away.

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The Jones Act: 100 Years of Failed Protectionism

Blog06/04/2020

June 5 marks the one hundredth anniversary of the Jones Act, a law passed to protect the domestic water transportation industry from outside competition.

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The Hydroxychloroquine Controversy Is a Reminder That Prescription Laws Are a Government Racket

Bureaucracy and RegulationHealth

Blog05/28/2020

In a free country, doctors would be free to prescribe whatever drugs they wish to anyone for any reason. In fact, individuals should be free to buy drugs without a special government-required doctor's note.

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Can Monopoly Money Save the Stock Market? Or Will It Buy Stagnation?

Financial MarketsMonetary Policy

Blog05/12/2020

Rather than spurring real economic gains, the Federal Reserve’s unorthodox QE program has supported and extended the debt grid and generated asset exuberance. But this can only go on as long as there's capacity for more debt.

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Decades of Productivity Gains Have Made Our Debt Bomb Manageable (For Now)

InflationPricesProduction Theory

Blog05/02/2020

Although the money supply has greatly increased, accompanying growth in production has made it possible to keep the current system of immense debt increase going for a long time.

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