Mises Wire

The fact that gold can be used for, say, industrial purposes does not mean it has "real value" while more intangible goods and services have none.

Fekete was one of the few old Europeans to recognize the central role of money: on the positive side as a means of amicable division of labor, on the negative side as a casualty and lever of political intervention.

Rising unemployment is just one outcome of minimum wage mandates. Capital accumulation and labor productivity will also be hurt. 

Normally the boosters of renewable energy point with pride to Texas, yet when wind collapsed during the deep freeze, suddenly even its biggest fans admit that nobody ever thought it could do the same job as natural gas.

If Europe wants to build wealth for its poorest members, it needs private entrepreneurship. But entrepreneurs need exactly the opposite of the Keynesian plan for building a European superstate. 

Rothbard recognized that money and exchange could not develop without first establishing private property. So Rothbard also recognized that it was important to develope theories of how private property might come about. 

Here's a likely reason the Fed has chosen to hide its data on government deposits: the explosion of Treasury deposits at the fed “fuels … suggestions that the Fed is directly financing the government [and] foster[s] uncertainty about central bank independence.”

Thankfully for the American right, there is another alternative to the neoconservatism of William Buckley, the neoliberalism of Milton Friedman, and the paleo-progressivism of Teddy Roosevelt: the libertarian populism of Murray Rothbard.

Some may remember all that talk about a "V-shaped recovery" last year. That was back when we were being assured that just a few weeks of lockdowns was going to bring the economy roaring back. Clearly, that never happened. 

Much of the harm is disguised by focusing on forecasts of higher aggregate income for the poor. Individuals, on the other hand, are another story.