Mises Wire

A comparison between the two theories of entrepreneurial action suggest that it may be time to drop the use of the words “equilibrium” and “disequilibrium” from economics.

Jerome Powell has lost his faith in a new surge in economic growth. So, it's back to endless stimulus to keep the current cycle going.

Tax bureaucrats are very useful in helping politicians abuse their power. Presidents have long used the IRS to harass and attack their political opponents.

When governments resort to unbacked fiat currency, a many-layered swindle lies hidden behind the appearance of a quick fix.

Central banks are absolutely committed to low rates because higher interest rates would turn the boom into bust, and would collapse our production and employment structure now based on a system of ultra-low rates.

In the words of Henry Hazlitt, "ideas which now pass for brilliant innovations and advances are in fact mere revivals of ancient errors."

France has a lower income than 49 US states, which may shed some light on why protests continue all these weeks later.

If Social Security was efficient, equitable, reliable and sustainable, defending the status quo might be sensible. But it is none of those things.

The key to a high quality of life is a free economy devoted to trade and entrepreneurship. Contrary to what we're told about Europe's welfare states, more government social spending doesn't cause economic prosperity.

Despite spending nearly $2 trillion, or 45% of the federal budget, every year on Social Security and Medicare, the feds are headed toward insolvency, and there is no relief in sight.