Mises Wire

The assumption that an exchange presumes some sort of equality has been a delusion of economic theory since Aristotle.

Legal arbitration only makes sense when all parties involved voluntarily enter into a contract. With police arbitration, the public has no seat at the table. It's a system designed to protect police only.

If current political and economic trends continue, the 2020s will usher in a new period of drastically increased government activity and regulation of the economy.

Keynes viewed depressions as something that could naturally plague market economies when total spending was insufficient to support full employment. Only with wise oversight could we hope to achieve steady economic growth.

The problem of the European Union has never been a lack of monetary and fiscal stimulus, but rather an excess of these. This has failed to produce real growth, and now we're getting more of the same, but even bigger.

Some police officers are able to easily get rehired by law enforcement agencies even though they were forced out of other departments for misconduct. That's a problem.

Measures of wealth inequality overstate actual inequality in terms of the standard of living of wealthy people relative to the rest.

The Left believes that we need the state to force people to act in line with "social justice." This means that somebody must force compliance with state edicts, even if those people aren't called "police."

The new Keynesian recommendation for monetary policy is to “stabilize the growth of aggregate demand.” In plain language this means that the monetary authorities should never stop flooding the economy with paper money.

What proponents of lockdowns mean by “follow the science” is that statements made by scientists should be accepted as axioms. An obvious problem exists when scientists make conflicting statements.