Mises Wire

Understanding Why Government Policies Fail

Blog11 hours ago

Gary Galles has in this outstanding book shown how to apply basic economic principles: he can convey free market principles in a simple and memorable way; and he also has a detailed knowledge of the policies he analyzes.

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Understanding Money Velocity and Prices

Money and Banks

Blog10/22/2021

The velocity of money does not have a life of its own. It is not an independent variable and it cannot cause anything, let alone offset the effect of increases in money supply on the prices of goods.

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US Military Propaganda in Film, Sports, and TV: It's Everywhere

Book Reviews

Blog09/17/2021

From the darkened cinema to the football field to the airport screening line, the US government inflated the actual threat of terrorism and the necessity of an aggressive military response.

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Using the "Natural Interest Rate" In Setting Monetary Policy Is an Impossible Dream

Blog09/13/2021

Much talk about the central bank's policy centers on whether the target interest rate is above or below the "natural rate." Unfortunately, we will never know what the natural rate is. 

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Using Goods vs. Exchanging Them: Menger Explains the Difference

Value and Exchange

Blog08/07/2021

In a developed economy, the satisfaction of desires can be obtained not only by goods in use, but also by goods in exchange. 

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Unmasking the Latest Bipartisan (and Dangerous) Climate Bill

World History

Blog08/04/2021

Republicans put a free market happy face on the latest environmentalist policy prescriptions in DC, but that does not change the fact that centrally planned climate policy is terrible economics.

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Understanding the "Private" in "Private Security"

Legal System

Blog06/17/2021

Ultimately, we are responsible for ensuring our own security and our incentives are aligned with those of third parties with whom we can contract to assist us. In this regard, security is no different than many other desirable things. 

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Understanding Minimum Wage Mandates: Empirical Studies Aren't Enough

Bureaucracy and RegulationLabor and WagesUnemployment

Blog02/09/2021

It is only through the increase in capital goods, i.e., through the enhancement and the expansion of the infrastructure, that labor can become more productive and earn a higher hourly wage. 

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