Mises Wire

March 2 would have been Murray Rothbard's ninetieth birthday. His immense knowledge, creativity, and devotion to liberty are unequaled.

A few days ago, it was reported that the the Federation of Quebec Maple Syrup Producers is beginning to self-destruct.

Municipal waterworks are government-run and government-owned, and generally an extension of local governments. But, bizarrely, when something goes wrong, it's somehow the fault of the private marketplace.

It is high time to turn to Rothbard in the search for advice. His recipe for dealing with depressions and how to avoid turning a recession into a depression is of timeless relevance.

American history is a story of non-stop efforts by governments to intervene in the marketplace through regulations, monopolies, and subsidies. Most surprisingly, these market interventions appear to place a central role in causing economic crises over the years.

Jeff Deist recaps his recent talk, "Socialist Left vs. alt-Right: What it Means for Liberty," which generated plenty of comments from libertarians, progressives, and the alt-Right.

Why, with interest rates historically low, are businesses not investing in the much predicted boom? Could it be business owners know more than the central bankers?

The 20th century was the progressive century, marked by the rise of war and socialism as entrenched features of American life. But perhaps the most lasting effects will be felt in the entitlement mindset woven into the American psyche via decades of successful incrementalism.

When used properly, and when restrained by the prevalence of a relatively laissez-faire ideology, democracy can indeed work as a brake on government power.

Dissatisfaction with the Fed appears to have gone mainstream, and this may increase if the Fed descends into negative interest rate policies. But, as always, a sound understanding of economics is key.