When we understand how Mises thought (in principle) newly mined gold could conceivably set in motion the boom-bust cycle, it becomes crystal clear that he thought any amount of newly-issued fiduciary media — i.e., a credit expansion — would do the same.
In the deepest sense, the American Revolution was a conscious majority revolution on behalf of libertarianism and against power.
Having failed to show that capitalism impoverishes people, socialists have invented a new victim of material prosperity: the environment. But this latest turn is the most disturbing of all in its knee-jerk hatred for human beings and human life.
If we stick to the data, regardless of which socioeconomic indicator we choose, it seems clear that the sharp economic downturn began long before 2017.
Attempts to impose liberal values on the world, to force people to be free, are doomed to failure and will enhance the chances of war. This is largely because nationalism is for most people a far more potent force than liberalism, whether classical or modern.
Supply, demand, and prices affect human usage of natural resources in such a way that the most scarce and valued resources are economized and preserved. The practical effect is that valuable resources never really run out.
Now that they're already rich, the millionaires and billionaires who say "tax me more" are really just trying to become popular by imposing new, harsher rules of the game on everyone.
Trump haters are concerned that Trump will "stain" the Lincoln Memorial with a speech on Independence Day. But Trump is extremely unlikely to ever match Lincoln's blood-soaked legacy. And that's a good thing.
Government manipulation is shifting wealth from Main Street to Wall Street. But most people don't see the growing gap between the growth of financial wealth and the real economy.
In response to tight housing markets, the Berlin government has decided to make things worse through price controls and new regulations on housing construction.
