Mises Wire

In order to produce capital goods, and hence more consumer goods, we must first forego current consumption. That is, we must save now to have more later.

"Public health crisis" is essentially a left-wing stock phrase at this point, as is reflected by the fact that the solutions proffered to the social ills in question are virtually always some sort of government regulation or income redistribution scheme.

During May 2020, year-over-year (YOY) growth in the money supply was at 29.80 percent. That's up from April's rate of 21.3 percent, and up from May 2019's rate of 2.15 percent.

Without a monopolist central bank, market forces would restrain the issuance of bank notes. But once central banks monopolize money creation, wealth is systematically transferred to the central bank and the privileged few who are favored by the state.

EU membership is a sort of bait-and-switch for states that were sold on membership as an opportunity to join a free trade bloc and a chance to participate in a more cooperative Europe.

The enemies of the system of free enterprise paid liberalism an unintended compliment when they applied the name "liberal" to their own creed, historically the opposite of what liberalism stood for from the start.

The story of how housing became so unaffordable for so many is a tragic one. But this is a story of our own making, thanks to decades of misguided government regulations.

When confidence is extreme, there's no scrutiny. There's always a "this time it's different" mindset, the belief that anything is possible.

The forces of anticapitalism have long latched on to whatever best suits them for pushing their agenda. Whatever the latest injustice may be—from a polluted environment to poverty to racism—the solution is always the end of capitalism.

In this short essay recently found in the Mises Institute Archives, Mises goes over the basics of monetary theory and shows why the concept of velocity of circulation is useless for understanding changes in the purchasing power of the monetary unit.