Mises Wire

In the Soviet Union, any significant goods had two price tags: one real and another virtual. One was the actual black-market price. The other was the "official" government price.

Modern Monetary Theory is the new thing among progressives. But it's been tried by many others, including the Roman dictators who ruined the Roman economy and had Rome falling apart before the barbarian invasions.

Oberlin College faculty openly encouraged and assisted students in destroying the property and livelihood of employees and owners at Gibson's Market. The college claimed this was "freedom of speech." A jury disagreed.

Money supply growth inched up in May, rising slightly above March's and April's growth levels. But overall growth levels remain quite low compared to growth rates experienced from 2009 to 2016. March's growth rate, for examples, was at a 12-year (145-month) low.

There is almost no economic problem, real or imagined, that cannot be made worse by inappropriate government regulation. Antitrust is no exception.

The "Velocity of Money" Is a product of human choices and human values. It's not something we can just plug into an equation.

The central bank can try to manipulate the interest rate to whatever level it desires. However, it cannot exercise control over the underlying interest rates as dictated by people’s time preferences.

The world now has the impossible choice of permanently reduced productivity and slower economic growth — or the mass bankruptcy of a significant percentage of the economy.

How old should a monument be to avoid Establishment Clause challenges? Not that old, given the Supreme Court invented the "wall of separation" argument in only 1947.

While many attempt to look to "de-regulation" or tax cuts to explain economic cycles, it makes more sense to zero-in on the role of central banks.