Mises Wire

Entrepreneurs are the reason consumers have come to expect new gains and innovations in products and services every year. Without entrepreneurs, we'd still be using rotary phones.

Many mortgages have not just been modified once, but twice, and sometimes more. Loan servicers are holding higher-end mortgages rather than foreclosing a decade after the crash. Thus, there is plenty of shadow inventory lurking, waiting for the next crash.

Although the term “sanctuary” implies comparability to local jurisdictions that refuse to participate in the enforcement of some federal immigration laws, the similarities don’t go beyond the name itself.

How much licensing requirements are designed to “protect” the health of the public, and how much to restrict competition, may be gauged from the fact that giving medical advice free without a license is rarely a legal offense. Only the sale of medical advice requires a license.

Monetary affairs have always been subject to government intervention of one kind or another, but there is no reason money could not be produced and regulated in a free marketplace.

State lawmakers possess an infinite source of good intentions. Wielding the power of this limitless benevolence and munificence, politicians are regulating the lives of citizens while eviscerating their existence in the process.

The demand for goods is not constrained by the amount of money, but by the production of goods and services available to trade for money.

Some argue that someone’s superior talent or success is itself the result of mere luck. That claim, and its relevance as a justification for redistribution, has generated much controversy.

The repeated failure of prohibition may be just the catalyst that Austrian economics needs to gain traction with the American public.

If the small sample size of monetary history is any guide, the combination of asset market crashes and high goods inflation empowers sound money forces in the political arena. At the moment, neither of those factors are in play.