Mises Wire

Are Housing Markets Still Clearing out the Trash of the Last Bust?

Booms and BustsFinancial Markets

Blog01/20/2020

Many mortgages have not just been modified once, but twice, and sometimes more. Loan servicers are holding higher-end mortgages rather than foreclosing a decade after the crash. Thus, there is plenty of shadow inventory lurking, waiting for the next crash.

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The Seen and the Unseen of "Waste"

Value and Exchange

Blog01/04/2020

When a farmer leaves some unharvested crops in the field, they are not "wasted." Real waste would be found in efforts to use up every last physical resource, no matter how costly those efforts might be.

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The Problem with Democracy? Letting Everyone Do It

Book Reviews

Blog12/26/2019

We don’t let just anyone repair our homes or perform surgery. So why do we let everyone vote, and, theoretically, let just anyone rule? Jason Brennan’s recommendation is epistocracy: the rule of the knowledgeable.

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Healthcare and "Market Failure"

Bureaucracy and RegulationHealth

Blog12/26/2019

Proponents of socialized medicine assert that markets cannot be trusted with healthcare due to "market failure." But the assumed "failures" of health markets are not improved by socializing healthcare.

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The Economic Consequences of the Peace: 100 Years Later

War and Foreign PolicyWorld HistoryOther Schools of Thought

Blog12/16/2019

John Maynard Keynes's stance on German reparations in the wake of the First World War may have precipitated the rise of Hitler.

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Why the Courts Aren't All They're Supposed to Be

Legal SystemWorld History

Blog12/13/2019

The government accepts no legal obligation to provide specified law enforcement services in exchange for the taxes it forcibly extracts from the citizenry. A clearly defined and voluntarily accepted reciprocal agreement between the government and the citizens has never existed.

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Teacher Unions Destroy School Accountability

EducationTaxes and Spending

Blog12/12/2019

The Clark County School District evaluated itself, and it determined that all the teachers and administrators are doing a great job — and by the way, the union deserves more money.

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Keynes on Eugenics, Race, and Population Control

World History

Blog11/14/2019

Keynes's Malthusianism indicates that he had a defective understanding of the division of labor and the law of returns. Beyond that, his population policies reveal the totalitarianism inherent in the Keynesian vision.

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