Three percent annual price inflation for ten years is a loss of purchasing power of 34 percent in what is already a disastrous inflationary environment. This is not "victory over price inflation."
Mises U students share what they most look forward to during the "best week of the year."
While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse.
Modern socialism is based upon state interference in normal human relationships, economic and otherwise. It is as disastrous as the older state-planning model.
"In all matters of government the State tolerates no intermediate agent between itself and the people, and in general business it directs the people by its own immediate influence."
Mainstream economists are quick to claim that environmental problems are caused by "market failure" that can be "fixed" by government intervention. However, the intervention itself is the problem.
Adults tell young people to follow their dreams, but one cannot follow one's vision without realizing what it takes to get there.
At a time when ethnic politics were tearing Europe apart, Ludwig von Mises believed that such ethnic devotion did more harm than good.
The East German secret police, the Stasi, developed the art of mass surveillance using pre-digital methods. Modern tech now makes the job a lot easier.
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