Mises Wire

There Is No "Optimum" Growth Rate for the Money Supply

Money and Banking

Blog02/01/2021

Since the present monetary system is fundamentally unstable, there cannot be a "correct" money supply growth rate. The present monetary system emerged because money creation was politically necessary to sustain the fractional reserve banking system. 

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The ECB Is Playing a Dangerous Game with "Collective Action Clauses" on Bonds

Central BanksFinancial MarketsGlobal Economy

Blog01/29/2021

The ECB is now turning to a new mechanism by which a bond’s value can be legally reduced by the issuer in times of hardship. The purpose is to allow central banks and governments new ways of ripping off the private sector. 

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The Dollar's Reserve Currency Status Won't Last Forever

Central BanksGold StandardMoney and Banking

Blog01/28/2021

Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago. 

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The FDA Botched Covid Testing in 2020. Nothing Has Changed Since Then.

Bureaucracy and RegulationHealth

Blog01/25/2021

FDA regulation of testing is premised on the idea that FDA employees are experts at everything they are regulating. This is a very bad assumption. 

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The Myths behind the "Capitalism Is Racist" Claim

U.S. HistoryWorld History

Blog01/21/2021

Both theory and the empirical research shows a competitive marketplace is incongruous with racism, but the Left insists capitalism is "inherently" racist. 

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Time Preference, Interest Rates, and Stagflation

Money and Banks

Blog01/20/2021

As a result of past reckless fiscal and monetary policies the pool of real wealth could be declining. If so, stagflation will result. 

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The Unwelcome Return of the Real Purveyors of Violence

War and Foreign Policy

Blog01/20/2021

It’s hard to be optimistic about a Biden administration with so many hyperinterventionist Obama retreads. Get ready for new wars and "regime change" operations. 

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The Upside of Lockdowns: More Saving

Money and BanksOther Schools of ThoughtProduction Theory

Blog01/14/2021

Rothbard: "At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends."

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