Mises Wire

A bedrock of Austrian economics and libertarianism has been free trade. Unfortunately, some people who claim to value liberty no longer value unhampered exchange.

Austrian economists have long emphasized the importance of time preference in determination of interest rates and the direction of the economy. Here is more evidence of why that is true.

Even after two years of "transitory" inflation, America's ruling classes insist that prices are falling and that all of this is temporary. We don't believe them.

The disease has always been the easy-money fueled boom. Price inflation is just a symptom.

Federal laws with acronyms are usually bad news. (Think the USA PATRIOT Act.) The RESTRICT Act is yet another Orwellian proposal in which the federal government assumes ignorance is strength.

To prevent rail accidents like the one in East Palestine, dial back government regulation and allow the tort system to work.

Once the Southern states accepted the Thirteenth Amendment, Lincoln was entirely content for the old Southern elites to resume their positions of power and for many blacks to continue in a condition little better than bondage.

Were states with legal cannabis to combine to form their own country, it would be—in terms of population—the ninth-largest country in the world, and larger than Russia. 

Austrian economics is defined by its adherence to the a priori methodology, not empiricism. That places it at odds with mainstream economics, which stresses the methodology of positivism.

The current banking crises have deep roots in US financial history. Monetary authorities have engaged in inflationary behavior for more than a hundred years.