The Government Is Making the Economy Appear Better than It Is
By borrowing money and “creating” new jobs, the government is creating the illusion of a strong economy. This does not end well.
Mises Wire
Fractional Reserve Banking (Part II)
Under free competition, and without government support and enforcement, there will only be limited scope for fractional-reserve banking. Banks could form cartels to prop each other up, but generally cartels on the market don’t work well.
The Oregon Problem: It’s Not Drugs! It’s the Socialistic Political Culture
As Oregon struggles with the aftermath of drug legalization, some are calling for new criminalization of drugs. The problem, however, isn’t the drugs but rather the socialistic mindset of people in Oregon who refuse to protect property from drug users.
Can Classical Economics Explain the Approaching Fiscal Disaster?
There is a lack of buyers for US Treasury debt. Rating agencies have recently downgraded the US debt, and entitlement benefits’ “trust funds” will go into the red in a few years. The classical economists offer few answers to the depth of this problem.
Taking Money Back (Part I)
The natural tendency of government, once in charge of money, is to inflate and to destroy the value of the currency. To understand this truth, we must examine the nature of government and of the creation of money.
Why You Should Read Human Action—Very Carefully
Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day.
Introduction to the Chinese Edition of How to Think about the Economy: A Primer
How do we best understand economics? Per Bylund explains in the introduction to his Chinese version of his book, How to Think about the Economy: A Primer. Economic understanding is now exported to a country with more than a billion people.
Forget the Alleged Social Contract: Taxes Are Coercive
The standard line is that taxes are part of a “social contract” that individuals have with the authorities that govern them. It is time to rethink the terms of this so-called deal.
What is a “Fed Pivot,” And When Is It Likely to Happen?
Markets are preparing for the Federal Reserve to “pivot”; that is, change directions from raising interest rates to cutting them. What does it mean? It means that the Fed’s leadership has learned nothing in the past several years.
Are You an Enemy of the State? Most Likely.
If you are libertarian and you question the latest government predations, you, too, are probably considered to be an enemy of the state.
