Mises Wire

In a surprise move, the Bank of Japan announced last night that it would employ negative interest rate policy for the first time in its history.

Those who wish to portray Ludwig von Mises as the "moderate" one, compared to the more radical Murray Rothbard, will often point out that Mises was no "anarchist". This assertion, however, runs into trouble when we consider Mises's comments in Liberalism.

Many advocates for free markets often mistakenly speak of "the market" as if markets by themselves somehow solve problems or provide incentives. Only people can do these things, and markets are just a means to an end.

Last week, the Bank of Canada announced it would stay at 0.5 percent for its target overnight rate (the equivalent of the Federal Funds Rate in the US).

Ludwig von Mises understood that, when it comes to the movement of capital and labor across the borders of nation-states, only the ideology of freedom and free markets can lead to peaceful and fruitful collaboration between states and societies.

In writing and

Today's Mises Daily outlines some of Mises’s ideas about the economics of immigration. As always, Mises is thoughtful and perceptive, and continues to offer fresh insight decades after his death.

Thanks to relentless government intervention, the economy in Brazil is in deep trouble. Anyone familiar with Austrian business cycle theory, however, could have predicted the current troubles long ago.