What “Lender of Last Resort” Is Supposed to Mean
Modern central banks have already moved far beyond what was once considered the proper role for a central bank as a “lender of last resort.” Now Keynesians and MMTers (modern …
Mises Wire
How the Left Is Trying to Blame Capitalism for COVID-19 Deaths
Not hesitating to exploit a health pandemic to advance their ideological agenda, Jacobin magazine on March 26 published an article attempting to proactively blame “millions” of coronavirus deaths on “capitalism.” …
What Is the Good Entrepreneur to Do?
In a January 2020 Forbes Magazine article titled “Why Doing Good Is Good For Business” clearly left out critical information: who is the good or bad entrepreneur? According to the author, …
Keynes and the Euthanasia of the Rentier
With over $12 trillion in negative-yielding debt and the yield on the ten-year Treasury bond falling below 1 percent for the first time, the days in which people could reliably count on …
Japan’s Productivity Has Been Slashed By Government Meddling, Not Demographics
Mainstream economists have turned Japan’s adverse demographics into a scapegoat for its economic debacle. Be it the Financial Times or the IMF, the general narrative is that Japan’s shrinking and rapidly …
Capital Accumulation: The Way to Increase Wages
It is clear that arbitrary minimum wage laws are not only ineffective, but actually detrimental to real wage growth. So what type of action results in increasing wages in the …
The Fed Is Running Out of Bubbles to Create
The Fed came out with a series of unprecedented measures on March 22, 2020. They announced the Fed will buy an unlimited amount of Treasurys and mortgage-backed securities (MBS), or as …
Do the Textbooks Get Money and Banking Backwards?
[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 5 we reviewed the textbook …
The Crisis Has Exposed the Damage Done By Government Regulations
As we watch in real-time how governments respond to the novel coronavirus pandemic, some of the most predictable forms of state overreach—from restrictions on the freedom of assembly to the …
It’s Time to Track the FDA’s Death Toll
The Food and Drug Administration helped turn the coronavirus from a deadly peril into a national catastrophe. Long after foreign nations had been ravaged and many cases had been detected …