Mises Wire

A look at the differences between the Austrian School and the "Law & Economics" tradition, with respect to product safety regulation.

Assuming that some groups of foragers indeed practiced "primitive communism," they would have died out because they had lost the fierce competition with the more economically viable "libertarian" tribes. Communism has never appeared spontaneously and "naturally" in the history of mankind.

Supporters of the universal basic income claim it ends dependence on markets, bosses, family, and bureaucrats. But it doesn't eliminate dependence. It only transfers dependence to the central state.

In the midst of moral and intellectual decay, Roepke was an inflexible harbinger of the return to reason, honesty and sound political practice.

Many conservatives seem to believe that America has been taken over by hard-core libertarians, with the result being a dystopian plutocracy. The answer, they tell us, lies in high taxes and more government power.  They're wrong about both the diagnosis and the cure.

Governments routinely bribe suspects into accusing others in exchange for reduced sentences. Thus, suspects are willing to say pretty much anything prosecutors want them to. Governments are fine with this.

As Zimbabwe's economy worsens, its government now insists residents start using easily-inflated local currency again. This is sowing the seed of another devastating episode of hyperinflation.

Profits are sales minus costs.

As it celebrates 70 years of the "People's Republic," China shouldn't forget its rise was made possible by its turn away from communism.

There are only two ways to solve environmental challenges: competition and technology. That requires capitalism, not the government.