Mises Wire

Dressing up the history of the world, and its economic development, in terms of transaction costs is mostly not very helpful.

The introduction of money does not alter the fact that individuals still have to produce something useful in order to secure some other useful goods for themselves.

In 1986, eight governors threatened to veto deployments of state troops to Central America. Washington generals and politicians responded by further destroying state independence and the Second Amendment's militia clause.

When colleges or hospitals are guaranteed payment by a third party, such as Sallie Mae or a health insurance company, it's only natural to raise prices on the student or patient. In these cases, the user's ability to pay becomes almost irrelevant.

Joe Weisenthal is questioning whether people should be able to deposit their money in a checking account and be paid interest on it — Rothbardians have been saying that for decades. 

The Keynesian obsession with avoiding deflation and pushing consumer spending has led to a serious decline in savings and capital accumulation.

Francsico García Paramés notes that economists who focus on near-term forecasting are generally useless to investors. But principles of Austrian economists — and a long-term view in general — can provide insights outside the mainstream.

"The biggest problem, not only economically but also politically, is the debt problem. It is unimaginable, how this madness of creating more and more debt and just pushing the economy by inflating the money supply will end."

"If the self is the real property of the individual, force may be employed to repel the force that would take from an individual this special bit of property in himself."

It is troubling that after a decade of an economic expansion, the US government is still spending money as it does during and immediately following a recession. It is as if the economy is now in a state of permanent "stimulus."