Mises Wire

Joe Biden thinks that unless there's widespread government intervention in the economy, economic inequality "brews and ferments political discord and basic revolutions."

The huge amounts of monetary inflation of 2020 have indeed been translated into price inflation in 2021. Yet with the Fed now poised to slow things down, we might find asset inflation could suddenly go into reverse.

Easy money monetary policy only serves to weaken and destroy savings and investment. And that means weaker future economic growth. 

A big factor behind Youngkin’s electoral success in Virginia: the rural voter and their reaction to Richmond's overreach on guns, schools, and centralized political power.

Cronyism: when the government passes policies to benefit special-interest politicians, bureaucrats, businesses, and other groups at the expense of the general public.

Tariffs and trade controls are little more than tax increases and a chance to further empower a bloated bureaucracy. Not surprisingly, Biden doesn't appear to be enthusiastic about embracing free trade.

The definition of a monopoly (and therefore of competition) in traditional economic theory is arbitrary. And there are many reasons why big companies with little "competition" are beneficial.

It's a bit rich that European central bankers are decrying the alleged risks and dangers of bitcoin. After all, the euro currency poses many destabilizing dangers and risks of its own for the European economy.

If the private sector does not accept a currency as a general means of payment and a store of value, the currency becomes worthless and ceases to be money. Ultimately, it becomes useless paper.

The more the EU micromanages Polish internal affairs and punishes Poland for the simple act of exercising self-determination, more the benefits of leaving the bloc altogether will continue to increase.