Mises Wire

With the Capitol riots, Biden has his 9/11. Now come the legal assaults against Americans. 

Many say economics must focus on preserving resources for distant future generations. They say climate change is why. That's may seem convincing in the abstract, but we soon learn how hard it is to predict future needs, and to ignore present ones. 

"Jobs programs" never create new wealth. They only redirect wealth and resources from other sectors of the economy. The cost to those other sectors is often very high. 

The ECB is now turning to a new mechanism by which a bond’s value can be legally reduced by the issuer in times of hardship. The purpose is to allow central banks and governments new ways of ripping off the private sector. 

Despite the heightened partisan tensions in recent weeks and months, some progressive Democrats are drawing the line at expanding the police state’s powers over political dissidents.

Surprise! An audit of Pennsylvania's covid lockdowns reveals the process lacked any legal consistency or transparency. Yet Pennsylvania's health bureaucrats have used these arbitrary rules to crush the state's entrepreneurs. 

Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago. 

With a sound money, none of these distortions would have been possible: the limitations of the currency itself would have forced an unwinding of excessive risk far before it could become a clash between major hedge funds and Reddit trolls.

From the dollar to bitcoin to Facebook's Diem, private monies and quasi monies are making the monetary landscape a lot more complicated. 

Economic freedom isn't a modern invention, and ancient Greece can provide some useful examples that show how markets are the engine of prosperity and human flourishing.