Mises Wire

Much of modern neoclassical economic theory depends upon assumptions that do not reflect real world conditions. Austrian economists, however, know that realistic assumptions matter.

Forget Vegas sports betting for reckless speculation. When the Fed officials make projections, the markets assume they are accurate. However, as Jerome Powell himself admits, forecasts are speculative at best.

From the various compromises pushed by "Beltway Libertarians" to the anti-free market rhetoric of conservative Sohrab Ahmari, government intervention has a lot of new friends. This will not end well.

On yet another crusade, US authorities have sanctioned Chinese cotton imports. The sanctions won't change Chinese policies but they will create hardships for many.

One of the canards of mainstream economics is that only government can provide the "optimum" number of nonrivalrous, or public, goods. Austrian economists have never accepted that theory.

The common belief is that inflation is the general rise in consumer prices. However, rising prices are a symptom of inflation, which really is expansion of the money supply.

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While supporters of fractional reserve banking claim banks inform depositors that they are really lenders (and banks are borrowers), a survey of the fine print yields says otherwise.

Javier Milei has promised to make the US dollar Argentina's currency if he is elected. Whether it will help the Argentine economy is another matter.

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