Mises Wire

Even as population has grown, increasing the intensive margin for agriculture has led to increased food production. This may not necessarily be a good thing.

Typical teaching on stock prices says they are little more than a random walk. But people's purposeful actions are behind every economic transactions.

Logical positivism holds that theory is irrelevant to the empirical results. It is the other way around; One cannot understand or interpret economic data until one has a working economic theory in place.

David Gordon continues his critical look at Jedediah Purdy's book, Two Cheers for Politics.

Both Murray Rothbard and Harry Jaffa began as men of the Right. However, Rothbard turned toward the view that individuals possess rights outside of the state; Jaffa turned toward conservatism.

Monarchs created Europe's modern states but lost the ability to control them. Then, having grown beyond the tools that helped monarchs turn themselves into absolute rulers, "the state acquired a life of its own."

Inflation is not a product of corporate greed or rising wages. It is a fraud perpetrated by government authorities that impoverishes average people while enriching elites.

By compensating slave owners for the abolition of slavery, Great Britain ended the scourge of chattel slavery long before it was ended in the Americas.

"Even those who actually voted for the adoption of the Constitution, did not pledge their faith for any specific time; since no specific time was named during which the association should continue."

The Fed’s tampering with market signals undermines the process of wealth generation, thereby exerting an upward pressure on the time preference interest rate and the market interest rate.