What’s So Moral About Moral Hazard?
Moral hazard is a vital concept for economics. We should be careful not to let critics trivialize or dismiss it; when they do, calls for government intervention and special privileges are seldom far behind.
Mises Wire
The Ethics of Capitalism
Man is not evil merely because he wants to enjoy pleasure and avoid pain — other words, to live.
Japan’s Wild Monetary Experiment Is Far From Over
The Yen remains strong for a variety of reasons. Restrained monetary policy in Japan isn't one of them.
Student Loans: No Credit? No Collateral? No Problem!
Lending standards for federal student loans have deteriorated, down to one criterion it seems: the ability to sign your name.
Ragnar Frisch: The First Nobel Laureate Chosen over Mises
The committee to select the winners of the Nobel prize in economics almost always prefer interventionists to laissez-faire economists. The first year was no exception.
The Politics of Political Economists
The pragmatist looks for areas where the economy and society fall short of the Garden of Eden, and these, of course, abound. Poverty, unemployment, old people with scurvy, young people with cavities — the list is indeed endless.
Sound Money and Fiscal Policy
Sound money is the most important check on government spending.
How Property Rights — Properly Understood — Limit the Spread of WMDs
Free speech does not imply people are free to insult you in your living room. Similarly, all property rights are "limited" in many ways by the property rights of neighbors and other owners.
The Drug War Drives Users to More Dangerous Synthetic Drugs
Synthetic marijuana is more dangerous and unpredictable than the ordinary kind. It exists because the Drug War has made cheaper, more potent drugs more profitable. And on a black market, safety is not the seller's chief concern.
“Free Stuff” Isn’t All That It’s Cracked Up to Be
Democratic socialism in Britain in the late 1940s brought a wave of shortages with rations falling even below WWII standards.
