Mises Wire

Local governments now control child adoption in America. A recent Supreme Court ruling highlights just how political and capricious local officials can be in exercising this power. 

In 2020, federal spending grew year-over-year at the highest rate since the Korean War. But state and local spending growth flatlined. Why? The answer lies with the Federal Reserve and how the feds can spend and borrow a lot more than any state. 

One big problem a government police force must always face is: What laws really to enforce? Police departments are theoretically faced with the absolute injunction, “enforce all laws,” but in practice scarcity means only some laws are enforced. Which ones?

Countless Americans have been repeatedly told to “follow the science,” supposedly to prove they are not obstinately closed-minded. But the main purpose of it all was just to open people’s minds to what government bureaucrats wanted. 

The federal government collects a lot more in taxes than the state governments do. And the feds also spend a lot more. This tells us a lot about how the federal government came to dominate all political systems in America. 

The "trickle down" effect is real in how capitalists are motivated to expand affordability of their products and services. Mobile phones and air travel were once just luxuries enjoyed by a select few, but are now widely affordable. 

Why have prices of building materials soared while consumer prices are relatively stable? This is easier to understand once we reject the myth of monetary neutrality and see how price inflation enters the market in different ways. 

An increase in the supply of money does not necessarily cause the boom-bust cycle. It is only when more money is created out of nothing that the cycle begins. 

The creation and enforcement of fiat money enables larger and more centralized government. Large government programs become possible that were not possible or sustainable under a market-chosen, sound money standard. 

Medicine is absolutely poised for incredible entrepreneurial breakthroughs which will revolutionize not only the practice and delivery of medicine, but how we think about health altogether.