Mises Wire

For most Americans, the debate is about what size the welfare state should be. But why is there a welfare state at all? 

Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.

Contrary to mainstream economists, credit expansion that is not backed by real savings leads ultimately to an economic downturn. 

Political and academic elites have successfully convinced the public that they should fear private enterprise. However, people really should fear an out-of-control government.

Despite statements from Biden and other progressives, profits in a market economy are not a form of plunder. Instead, they represent entrepreneurial gains that mostly benefit consumers.

The Fed doesn't want to admit that new federal debt is significantly higher than private sector demand, and the Fed is more concerned about a bond market meltdown than price inflation. 

Will the commercial real estate market become a casualty of the Federal Reserve's tsunamic monetary and interest rate policy?

What are property rights and how do we define them? The late Butler Shaffer argued that they come from our “will to own.”

The decades of American and European intervention in Africa are coming to an end, and things are even worse for American interests there. Perhaps overthrowing governments and trying to dictate political outcomes wasn’t a good idea.

Murphy gives a comprehensive critique of Stephanie Kelton's new Modern Monetary Theory documentary, covering the flaws in its theory, history, and policy recommendations