Remembering Oskar Morgenstern
Morganstern is best known as the co-developer of modern game theory with John von Neumann in their 1944 book, The Theory of Games and Economic Behavior.
Mises Wire
Steve Mnuchin Defends the Myth of Fed Independence
The idea that the Federal Reserve is "independent" is at best naive, and at worse purposefully misleading.
Trump Cuts Subsidy to Real Estate Industry, Opponents Call It a “Tax Increase”
The FHA has long subsidized home loans and home sales with its federal insurance program. Banks and Realtors want to keep the money flowing.
Asset-Price Inflation Heating Up with Nothing to Show For It
Obama is the first president since Hoover to not have a single year of over 3% GDP growth.
What the Tobacco Industry Did for Women
Far from being a tool of the so-called patriarchy, marketplace producers enthusiastically cater to anyone willing to join in.
Trump Readies a New Pentagon Spending Binge
Politicians and bureaucrats have found in Trump a friend who can help fleece the taxpayers for a few trillion more in military spending.
Conceived in Liberty: The Medieval Communes of Europe
The urban "communes" of medieval Europe were the early cradle of economic and political freedoms that would transform Europe in later centuries.
The US Navy: A History of Waste and Corruption
When politicians play market without bearing the consequences, they create a network of economic privilege that begins with bribes and ends with bombs.
Janet Yellen’s Bland 2017 Forecast
Fed Chair Janet Yellen’s recent speech at Stanford University certainly was much like Ms. Yellen herself: predictable and safe.
Can Technology Prevent a Recession?
Technology doesn't tell us much about whether we're prone to a recession. The much larger issue is inflation-induced misallocation of resources.
