Business owners have always made errors, and external factors can lead to economic crises of various sorts. But the cyclical pattern of booms and busts we now see are a result of government interventions not seen in a free marketplace.
Rothbard’s work on welfare economics probably ranks among his least-known achievements, but it is truly a tour de force and another tribute to his great originality and talent as an economist.
The best people in the world support the Mises Institute. Will you join them?
Kamala Harris has promised to rule by decree if elected president. For her, Congress is little more than an advisory committee. The average voter, of course, ranks even lower than that.
Kai-Fu Lee’s new book AI Superpowers offers many insights into the development of of AI, but too much of the book is spent chasing economic phantoms.
The movement for alternative money is the result of the history of government monetary mismanagement.
Not only does fractional-reserve banking gives rise to monetary inflation it is also responsible for monetary deflation. Money created out of "thin air" can disappear as rapidly as it was created.
I offer my own definition of government: Government is that great fiction, through which everybody endeavors to live at the expense of everybody else.
Robots are not fundamentally different from other labor-saving innovations, and there's no reason to believe increased innovation will lead to mass unemployment or mass poverty.
In a city with rapidly rising housing needs, there is really only one way to keep housing prices stable or falling: produce a lot of housing.
