After three months in a row of hitting new all-time highs, money supply growth slowed in March, dropping to a 10-month low. This slowdown, however, does not suggest any significant departure from the past year’s high growth in money supply—which came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages. […]
Democracy is only acceptable when the outcome is what the ruling class wants. Fortunately, the federal courts are always handy to overturn the results of free elections. Original Article: “The Ruling Class Only Cares about Democracy When It Helps Them“ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
“Every change in the money relation alters … the conditions of the individual members of society. Some become richer, some poorer.” – Mises, Human Action, p. 414. New money enters the economy at a particular point. It does not enter in the form of a proportional and simultaneous increase in everybody’s incomes. This means that […]
Summerlin, the suburb of west Las Vegas creeping ever closer to the mountains, looks to be crowded with fully paved streets, streetlights, block walls, and blue top lots. With lumber, labor, and other materials in short supply, home construction can’t keep up. However, Ali Wolf, chief economist with Zonda, quoted by CNBC, claims, “The lot […]
Key methodological differences between Austrians were highlighted in Milton Friedman’s “The Methodology of Positive Economics.” A key piece of conflict: Friedman’s focus on prediction rather than explanation. Original Article: “Milton Friedman’s Methodological Mistake“ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
That Austrians and Keynesians do not share many views on economics (or probably anything else) is obvious, so a difference of opinion between the two hardly should surprise anyone. However, it still is important to point out the differences between the two camps, especially at the current time when Keynesians are all the rage in […]
Senator Hawley wants government regulation of social media, and he insists that social media companies are somehow controlling and manipulating people. But Hawley is mistaken. You have free will even when using Facebook. Original Article: “Social Media’s Algorithms Aren’t Really Controlling You“ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael […]
A common rhetorical tactic is to change the definition of a key word in a debate to fit a preferred conclusion. This tactic is now being used by President Biden and other lawmakers in support of an anticipated $2 trillion infrastructure bill they are expected to propose by arguing that the definition of “infrastructure” should […]
In the classic 1939 film, The Roaring Twenties, a desperate James Cagney tells Priscilla Lane, “You want the Brooklyn Bridge, all you gotta do is ask for it. If I can’t buy it, I’ll steal it.” Like a desperate lovesick puppy trying to force the object of his affection to fall in love with him, President […]
In my column last week, I said that Senator Josh Hawley’s book The Tyranny of Big Tech raises important issues, and I’d like this week to go into one of these. He notes that Facebook, Amazon, Twitter, YouTube, and Google Search have immense influence on the news and political opinions people see. As he points […]