Mises Wire

China is not on track to catch up with the wealthy West. The Chinese state's commitment to highly interventionist mercantilist policies is leading to debt, malinvestment, and stagnation.

This immense cooperative system is known as a free-market economy. It was not consciously planned by anybody. It evolved.

Political and economic salvation for Venezuela can come only from the Venezuelan people themselves. They cannot be “forced to be free.”

So long as we insist the federal government can force one law, one culture, and one sort of politics on all of America, the US is headed down the road of civil war. Only decentralization and separation can partly defuse the situation.

Far from being the saviors of society, the new breed of anti-market conservatives are merely the newest iteration of the long line of anti-social apologists for state domination.

Elizabeth Warren’s proposed wealth taxes will have devastating consequences on capital formation, and will encourage investors to hold riskier assets than they otherwise would have.

The Washington Post supports local governments ignoring laws. Except when those laws restrict private gun ownership.

When governments devalue the currency to push more exports, the country is getting rich in terms of foreign currency, but it is getting poor in terms of real wealth.

The world doesn't follow predictable patterns based on averages of long-term probability. Ordinary people apparently know this better than statisticians do.

Taleb maintains he’s a statistically-oriented orthodox economist. But I don’t think he understands what people mean by “orthodoxy.”