Mises Wire According to a relatively new field of economics called behavioral economics (BE), emotions play an important role in an individual’s decision-making process. On this the Nobel laureate Vernon Smith writes, …
You know hypocrisy, as when the pot calls the kettle black? Well, this news report gives new meaning to the idea: The rise in American consumer debt has been accompanied …
Many episodes of monetary inflation, some even long and virulent, do not feature a denouement in a sustained high CPI inflation over many years. Instead, these episodes have the common …
Historically, meetings of the largest economies in the world have been essential to reach essential agreements that would incentivize prosperity and growth. This was not the case this time. The G7 …
Today, the political system really is in many ways what H.L. Mencken suggested when he described elections as a sort of “advance auction of stolen goods.” The only answer lies …
Scotland still hasn’t given up on holding another independence referendum within the next several years. Although London opposes the measure, it is notable that the debate over Scottish secession is …
This spring Scott Pelley of 60 Minutes asked Fed chair Jerome Powell, “And you believe the system, because of the oversight of the Fed, has the wherewithal to stand a …
Mises.org editor Ryan McMaken joins the show to tackle some of the toughest and most controversial chapters of Rothbard’s groundbreaking treatise The Ethics of Liberty. McMaken and Jeff Deist cover …
According to Marxists, the subjective theory of value is just bourgeois apologetics. By using the subjective theory, economists conceal the fact that the proletariat under capitalism is exploited. The labor …
It’s been said by democracy’s critics that the system is essentially two wolves and a sheep deciding what’s for dinner. But to its defenders, democracy has been described as an …