Mises Wire

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.

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. 

Both artists and athletes perform for others. When governments get involved it either is for subsidies or censorship. Neither is satisfactory.

Today is the 30th anniversary of the Waco Massacre in which the media and the government self-congratulated each other in absolving the FBI of any crimes. Nothing has changed since then.

After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.

Washington elites and especially their media have denounced what they once praised: leaking of official documents that show the government has been lying.

Walter Bagehot, as Jim Grant writes, believed that bankers and central bankers should exhibit financial discipline. He would not recognize today's banking world.

American politicians are beating war drums. They forget that bad relations are costly in many ways.

With negative growth now dipping below negative 6 percent, money-supply contraction is approaching the biggest declines we've seen in decades.