Mises Wire

When robots may be more effective workers and possibly better engineers, they cannot figure out what is valued. That’s the task of entrepreneurs, who bet on what consumers will want.

Libertarians know what should be done about government services and operations: they should be privatized. What should be done in the meantime? 

It's frightening to see the persistent lack of insight shown by policymakers and financial media on the 2008 financial crisis.

The Company Men shows how, in order to move on from a devastating layoff, workers must first figure out how to be valuable to the customers.

In spite of claims they will benefit society overall, interventionist policies designed to benefit certain interest groups ultimately only help certain groups at the expense of everyone else.

By accepting the premise that government can and should solve all of life’s problems, conservatives and Republicans will inevitably get into a “bidding war” with progressives and Democrats.

As the credit expansion turns to bust, many capital goods remain unused, many investment processes cannot be completed, and capital goods produced are used in a manner not originally foreseen. A large portion of society’s scarce resources has been squandered.

Two root causes of homelessness — zoning and minimum-wage laws — are warmly and enthusiastically embraced by both the left and the right and ardently opposed by libertarians.

Lehman was a prime example of mainstream consensus analysis of risk and economic opportunity. We "solved" it with more of the same.

If local prices are sending the message that everything's perfectly normal, residents may be overly optimistic about the risks they face during natural disasters.