Inflation Has Been Contained — But Not Because of a Liquidity Trap
When the Fed began paying interest on bank reserves, it kept a lid on inflation. But now there's no easy way out.
Mises Wire
Trump’s Tariffs, Fannie’s Funding: How High Can Rents Climb?
Renters can't keep paying higher and higher rents, as nearly half of all renter households pay more than 30 percent of their income for housing.
Will the Data Tell Us When the Next Bust Is Due?
The trigger to boom-bust cycles is central bank monetary policies and not some mysterious factors we can only tease out of statistical data.
Is the (Tea) Party Over?
Now that Republicans control the White House and Congress, tea party groups have little to say about runaway government spending.
Lack of Police Accountability Shows the “Social Contract” Isn’t Working
We're told that we pay taxes in return for government "services." But what happens when the state doesn't keep up its end of the bargain?
Public Goods, National Defense, and Central Planning
Since national defense is not bought and sold in markets, we can't really know its value or whether there is too much or too little of it.
A Gas Tax Hike Is the Wrong Way to Fund Highways
Using the federal gas tax to fund infrastructure is at best a very blunt instrument, and at worst an invitation to wasteful spending.
How Juan Perón’s Left Populism Destroyed Argentina’s Economy
Some scholars want the Democrats to embrace Perón's policies. This isn’t quite as bizarre as arguing for Venezuelan socialism, but it’s close.
The True Money Supply Is Flashing Red
The suppression of the TMS growth rate, if it is sustained for the rest of the year, portends another credit crisis and housing bust.
What Free-Banking Advocates Get Wrong
Free-banking systems may make bank runs less frequent, but do they prevent credit expansion, artificial booms, and economic recessions?
