Mises Wire

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.

There are many reasons why activists and intellectuals oppose inequality. Envy is one of them.

The Washington area was traumatized for weeks by two dimwitted psychopaths who rode around brazenly shooting people from the trunk of their ancient Chevrolet. Sadly, law enforcement officials had apparently met their match.

Capitalism is not a "legacy of colonialism" in Africa. In fact, markets and interregional trade have long been practiced on the continent. And markets today are still the answer to raising standards of living.

Elizabeth Warren has pronounced her verdict on higher food and gasoline prices: they are nothing less than the result of corporate greed. In fact, there is no inflation, only corporations arbitrarily raising prices.

It took many centuries for regimes to secure the sort of prestige and power necessary to claim a monopoly over money. From the state's perspective, it has been worth it. 

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