Mises Wire

For those new to Austrian economics, there are few modern scholars whose work I would recommend more enthusiastically than Salerno’s.

A fashionable approach to monetary policy these days, even in free-market circles, involves "NGDP targeting." 

To pay its debts, Greek government, "busy thinking of new ways to raid its own population."

Gustave de Molinari learned of “the destructive apparatus of the civilized State” from the French Revolution, “naively undertaken to establish a regime of liberty and prosperity for the benefit of humanity, end[ing]…in an increase in the servitude and burdens.”

In Rio they...waved placards calling for “Less Marx, more Mises.” 

There is no way to know with certainty what the Fed might do in the future, but I’ve been on record as saying that under the circumstances I find it practically impossible for the Fed to ever get around to deliberately raising interest rates

The Fed's FOMC has affirmed that it may raise interest rates as some point in the future if conditions warrant such a change. 

“So let us not talk falsely now, the hour is getting late.”  (Bob Dylan, All Along the Watchtower, 1967)

Here’s a back-of-the-envelope calculation on how much the mandate to require ethanol in motor fuel costs consumers, and benefits farmers.

I was deeply honored--and completely surprised--to have this handsomely produced Festschrift presented to me at the Austrian Economics Research Conference last week.