Mises Wire

Henry Hazlitt, a great champion of liberty and Austrian economics, was born on November 28, 1894. His most famous book, Economics in One Lesson, remains a best seller thirty years after his death.

Between war weariness and the inability of the US government to pay war bills, reality is going to come to the fore even if Washington doesn't like it.

The student loan program is descending into chaos and the Biden administration is clueless about what to do. Furthermore, the value of a college education continues to fall while college costs increase.

Because borrowing from the Fed continues to reach new highs, inflation is unlikely to drop as fast as M2 would indicate, and excess money growth continues to generate problems in the economy with few improvements as it just keeps zombie financial entities alive.

While China achieved strong economic growth in the post-Mao years by allowing free markets to work, the Communist leadership wants to return the economy to its old socialist ways. However, while the government can give fake growth numbers, it cannot reverse socialist failures.

America is draining its economy by federal debt in a way similar to how American farms and cities are emptying the nation's aquifers. We cannot sustain these losses much longer.

David Gordon reviews Only a Voice, by George Scialabba, dealing with the author's comments on antiwar progressives Randolph Bourne and Dwight Macdonald.

Americans are constantly told that Europeans have wonderful medical care provided by their governments. In reality, private care is gaining ground because it provides better care and a better deal.

Government-run medical systems are always touted by political elites, who usually take advantage of private care themselves. It is time for everyone else to have access to the same system.

The Biden administration claims it wants to get out in front of the development of artificial intelligence. However, the likely scenario is that AI will leave government regulators in its wake.