In Europe, there is no competitive market for electrical power. And since power is an important factor of production, it also means the overall marketplace is wasteful, inefficient, and sluggish.
As government seek ever larger amounts of debt to finance more spending, they're embracing huge debt levels in the way a broke consumer might embrace payday loans. In the end, we're left with nothing but a flimsy promise to pay.
Realizing that most voters in Massachusetts were against the new constitution, the Federalists concocted a variety of dirty tricks to ensure a Federalist victory.
The United States’s jobs recovery is extremely poor, especially if we consider the size of the monetary and fiscal stimulus and the spectacular upgrade to GDP estimates.
We often hear these minimum wage laws are well intentioned. I cannot agree. Minimum-wage laws are evil in their methods (coercion) and evil in their goals (to make people believe they’re dependent on government).
The outcome of today's currency race is uncertain. The credibility of the leading fiat currencies has suffered substantially. Their instability has fueled crises and weakened growth, so the demand for an alternative store of value is high.
The growth of political parties and interest group politics, and the promotion of democracy as a fundamental principle of American government, all came as a result of the move to popular voting for president.
Those analysts that insist on following the Phillips curve in order to ascertain the future course of the momentum of prices of goods are deceiving themselves.
With your support, Mises U alumni can continue their Austrian education over the summer. They can return to school ready to resist the socialist agenda and spread real liberalism.
In Keynes's day, wages were being artificially inflated by labor union contracts. Unemployment rose. But then Keynes decided inflation would solve the problem by lowering real wages. Here's why that's a bad idea.
