Mises Wire

New York Fed Chief Dudley recently suggested asset bubbles "emerge from the way market participant’s process information and trade" — thus ignoring the role of the central bank.

Proponents claim that if the government just "cracks down" even harder, the drug problem will be solved. The reality in Mexico and the Philippines shows how wrong this idea is.

In the early years of the United States, legal systems were far more localized and flexible. But elites preferred consistency over flexibility, and the rich could afford the more bureaucratic legal institutions that ordinary people could not. 

Selgin thinks fractional reserve banking critics are akin to "flat-earthers", but he gets some important points wrong. 

In last weekend's election, Swedish voters appear to have handed more power to a populist party.

Even a degenerate capitalism produces more prosperity than the best socialism. Therefore, the task ahead cannot be to remove capitalism in favor of socialism but to make capitalism better.

The government's near-monopoly on education services has destroyed innovation and choice. Meanwhile, little is gained from relentless increases in spending.

John Law's disastrous Mississippi Company bubble can still instruct us today.

It is impossible to force the economic development of society by artificially encouraging investment and initially financing it with credit expansion.  This policy can only have benefits if economic actors also elect to begin saving more at the same time.

The "experts" are complaining about advertisements from formula companies. Meanwhile, the US government spends billions on subsidizing formula through welfare programs.