Mises Wire

Traditional macroeconomic measures may not tell us very much about where the current malinvestment bubbles are — or what their effects will be.

In a relatively unhampered market, a declining population is not necessarily an economic problem. But in a system where retirees can loot younger workers through government pension systems, there is a real problem, indeed.

Perhaps the best proof of the current divorce between theory and reality in international economics is the economists who declare themselves in favor of free trade while also opposing the removal of all tariffs and customs.

Conscription of witnesses is no more justified than conscription into the armed forces or into any other service or occupation.

Wealthy Hollywood types, being relentless and cynical social climbers, figured out years ago that college is mostly about social status and certification.

Social Security has always been a scheme to pile costs on future workers for the benefit of current retirees. Now Congress wants to make things even worse.

The odds of a no-deal Brexit appear smaller than ever, and the exit process still has no end in sight.

Small businesses are essential in providing employment for workers who might otherwise be locked out of the mainstream economy. Small firms also drive large firms to compete for workers, thus driving up wages.

Reparations to heirs of slaves make sense so long as the actually guilty parties are the ones paying. Short of that, the policy being discussed has nothing to do with reparations. It's just a wealth redistribution scheme. 

The European central bank has no ammunition left with which to address any serious economic downturn.