Mises Wire

In the 1950s, Murray Rothbard took on the question of whether or not the United States should defend Formosa (Taiwan) from attack by mainland China. Rothbard was predictably red-baited for his efforts.

With the US economy facing a severe downturn, we should remember that two recessions ended quickly because the government didn't intervene at all.

One: the Republicans want big cuts and austerity. Two: The US has never defaulted before. Three: Default is the end of the world. 

The drug war of the last half century has incarcerated millions and created havoc. What it hasn't done is eliminate people using drugs without government permission.

Domestic violence is a stain on society, but it is worse if we only care about violence committed against people of one sex.

While the US ratchets up efforts to isolate its many enemies, the Chinese, the Saudis, the Arab League, and OPEC all shrug and look to increasing international communication and trade.

We are familiar with the five stages of grief. However, it is not a stretch to apply those stages to what is happening to the banking system. Right now, we are in the second stage: anger.

The government and its central bank act precisely as would a grand counterfeiter, with very similar social and economic effects.

A "soft landing" is impossible unless the government cuts both taxes and government spending at the same time interest rates are rising. This won't happen, so get ready for a hard landing. 

Although the Bank of England is largely responsible for inflation in the UK, its leaders blame British consumers and workers for the price increases.