Mises Wire

Even if Trump and Xi both desire to reduce America's trade deficit with China, it's unlikely it will shrink in the short term.

Virtually all laws involve "legislating morality." When people use this phrase they often really just mean "I want laws to back my version of morality, not yours."

In the conditions of a labor shortage, which necessarily materializes if wage rates go below the point corresponding to full employment, the payment of higher wages provides exactly the same benefit to employers.

EU regulations greatly increased costs for British Steel, and eventually doomed the company. And British Steel would have become insolvent even if the Brits had never voted for Brexit.

Socialism will always encounter two big problems when regimes attempt to implement it: 1) the impossibility of economic calculation without true market prices, and 2) the lack of an incentive to produce only what consumers actually want. 

It is the lethal combination of tariffs and the end of the expansionary phase of the credit cycle which should concern us.

"Green" parties gained too, and unfortunately, the big winners share an important similarity: they all advocate for more government interventionism in one way or another.

In two recent cases, Neil Gorsuch joined the "liberal" wing of the Court to side with Indian tribes in enhancing tribal sovereignty. This is a good thing for limiting and decentralizing government power.

The welfare state is a key ingredient in sowing social mistrust and discord among diverse groups in Sweden.

The thesis that “deficits don’t matter” does not begin with the English economist John Maynard Keynes, but with the much-less-known Polish economist Michal Kalecki.