Mises Wire

The Federal Reserve is losing money, according to its official books. Does that matter, or does the Fed operate outside the bounds of the laws of economics?

The new problem we now face arises from the fact that huge deficits are only manageable so long as interest rates remain very, very low. 

While Israel receives praise for being a "democracy" in the undemocratic Middle East, its surveillance policies mirror those of China, which is decidedly not democratic.

Jesús Huerta de Soto reviews Murray Rothbard's A History of Money and Banking in the United States: The Colonial Era to World War II.

As the federal government continues its Ponzi scheme of issuing debt to pay for past debts, interest rates will increase to the point where this no longer is a tenable strategy—if it ever was.

An unfortunate consequence of increased wealth is the growth of the parasitic consumptive class of political and cultural elites. Labor migrations often follow in the wake of damage that elites do.

The newly-released movie "Killers of the Flower Moon" depicts what happens when politically-connected people can use the state to carry out nefarious deeds. Unfortunately, government failure is one lesson that is sure to be lost here.

A Cato Institute associate has declared the development of the covid-19 vaccines to be a free-market “triumph.” The only thing that has triumphed in this sorry episode has been the rapid growth of coercive government power.

Data on employed persons, wages, and other measures point to trouble ahead in an economy already strained by growing bankruptcies, mounting debts, and disappearing savings. 

In the aftermath of Hamas's taking hostages in its conflict with Israel, the question arises: Who pays the ransom? State-financed payments lead to the worst outcomes and create moral hazards.