Mises Wire

Are Austrian economists clinging to an old-fashioned view of banking? In short, no, and here is why. 

Murphy lays out the various camps in the debate over fractional reserve banking.

Money-supply growth accelerated year over year in August by the largest amount in 23 months. The days of falling money supply growth rates are over. 

Kamala Harris claims that she simply wants food prices to be lower. However, her de facto price fixing scheme would create food shortages and raise the real price of food. Of course, when that happens, Harris simply will blame capitalism.

David Gordon takes another look at Thomas Nagel's Equality and Partiality. While he finds some of Nagel's arguments appealing, they still are inferior to Murray Rothbard's systematic interpretation of natural rights.

There are numerous critics of the Austrian School of economics, but when their disparagements are closely examined, the so-called experts themselves are wrong. Austrians can do a better job of setting the record straight.

Ryan, Tho, and Zach Yost talk about some recent efforts by Polish lobbyists to shame Americans into spending more treasure (and maybe also American lives) on waging wars for Eastern European states. 

Does it matter if a central bank is privately owned? No, it makes no difference. Public or private, central banks give the state what it wants. 

For all of the talk about Kamala Harris being a socialist, she certainly does not advocate socialism of the kind we have seen under the old USSR or Mao’s China. Instead, her version has characteristics of Italy in the 1920s and the more notorious German version of the 1930s.

John Maynard Keynes is the best-known economist from the 20th Century, that not being a good thing. At least he was more famous for his success in promoting his views than for his lack of success as an investor. His failures were an extension of his lack of economic understanding.