Mises Wire

Unfortunately, the only real long-term solution to this is genuine fiscal austerity and debt repudiation.

Mainstream economics is deterministic, holding that economic actors continue to move in one directions, not responding to changes in economic circumstances or incentives. The Austrians understand economics is about people engaged in purposeful action.

Lenin and Trotsky have long been dead, but their efforts to erase history through revolutions live on. Today, the erasure is happening in Western Europe and the United States, as progressives carry on that the Bolsheviks started.

Contrary to the narrative pushed by those who want more easy money, there is no monetary deflation or disinflation and the money supply continues to grow.

There has been much talk of disinflation, but all the evidence points toward the conclusion that the Federal Reserve continues to administer injections of monetary inflation.

Our socialist transit systems are an ongoing failure made worse by even more government intervention. We should not be surprised, then, when political leaders insist that the real problem is the lack of a political will to spend even more money on government enterprises.

Monetarists and rational expectations economists believe that if monetary policy is transparent, then increases in the money supply will not have negative effects. The actual results say otherwise, as introducing new money into the economy leads to economic instability.

It is one thing to understand economics and quite another to be able to explain how economics works. Those who favor free markets also need to be able to explain and defend them.

George Ford Smith joins Bob to discuss Thomas Paine’s transformative role in the American Revolution and his controversial legacy as a champion of liberty and reason.

College professors have suddenly discovered entrepreneurship and are teaching about it in their classes. However, while it is an interesting subject, one cannot teach someone how to be a successful entrepreneur.