Mises Wire

How the Fed Undermines Prosperity

Booms and BustsThe FedBusiness Cycles


The boom-and-bust cycles are not natural to a market economy, contra Keynes. Instead, government through monetary manipulation creates them—and then politicians blame markets themselves.

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How To Prevent the Boom-Bust Business Cycle

Booms and BustsThe FedInflationBusiness Cycles


Fractional reserve banking allows the Federal Reserve to manipulate the money supply, leading to booms and busts. Central banking is not a defense against business cycles; it is a major cause of them.

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How Paper Money Turns Governments into Predators

InflationMoney and BanksWorld History


Paper money transforms governments from parasites to predators. Once a government can print what it likes, it no longer needs taxes.

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How a Trickle Can Turn into a Flood

Economic PolicyInflationWorld History


Infamous hyperinflations like what hit Germany in 1923 did not begin as a flood. Instead, they started as smaller bouts of inflation initiated by governments that printed money to pay for deficit spending.

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How Inflationary Money Causes the Affordability Crisis

The FedInflationMonetary PolicyU.S. Economy


The affordability crisis is upon us. Housing, food, you name it, life is becoming expensive. The government blames business, but perhaps government officials should look in the mirror.

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Haiti May Have Won Independence, But It Is Not Independent of Chaos and Poverty

Bureaucracy and RegulationEconomic FreedomWorld History


Haiti famously won its independence from France during a slave revolt, but being independent has not brought political stability or prosperity. Instead, Haitians struggle to get by in the Western Hemisphere's poorest country.

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How Does One Define "Libertarian"?

Economic FreedomLibertarianismPhilosophy


With the current jumble of poltical terms, it is hard to discern what is "libertarian," and what is not. Economic freedom and individual rights must be at the top of the list.

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Hollywood Meets the Austrian Business Cycle

Booms and BustsMedia and CultureU.S. EconomyBusiness Cycles


Hollywood can create stories from thin air, but when the film industry creates malinvestments, there is a bust in the future.

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