Why “Public Goods” Don’t Justify Government Intervention
Economists have long tried to use the idea of “public goods” as justification for a wide variety of government interventions. But there is no objective measure for what’s a public …
Mises Wire
A Study in Decentralization: Colorado’s Two Sets of Marriage Laws
Until interracial marriage restrictions were abolished in the 1950s, Colorado had two sets of marriage laws: one for the northern Anglo-dominated part of the state, and a second rule for …
Sunil Rao: An Editor’s Thoughts on the NEJM/LancetGate
Dr. Rao is an interventional cardiologist and researcher who has been at Duke University for over 10 years. He also works in the Veteran’s hospital in Durhum, is a leader …
The Flexner Report and Our Modern Medical Cartel
The medical profession has long employed the state to pad doctor salaries and influence. Before the Flexner Report, mechanics made more than doctors and the brightest students avoided the profession …
The Fallacy of the Equation of Exchange
[From Man, Economy, and State.] The basis on which we have been explaining the purchasing power of money and the changes in and consequences of monetary phenomena has been an …
These Protests Don’t Threaten the Ruling Party in America’s Big Cities
The political machines that run America’s cities are likely to keep running them when these protests and riots end. Taxpayers will be worse off, but politicians will be even more …
Are We on the Cusp of a New Progressive Era?
The 2020s started off horrendously. Thanks to an exaggerated coronavirus pandemic, government lockdowns sunk the economy into the most serious recession since the Great Depression. From February to April 2020, …
Keynesians on the Cause of, and Cure for, Depressions
[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in late 2020.] In chapter 8 we presented Ludwig von …
Per Bylund: How Entrepreneurs Build Businesses That Are Beautiful Islands Of Specialization
Key Takeaways And Actionable Insights How do creative entrepreneurs design and build new businesses, new products and new services that grow and succeed? You’ll make a big difference for your …
Why the New Economics Just Boils Down to Printing More Money
[Editor’s Note: this article is adapted from a 2003 essay in the Quarterly Journal of Austrian Economics entitled “New Keynesian Monetary Views: A Comment.” As economists abandon theory in favor of …