Would You Abdicate If You Could Be the Dictator?
byLeonard E. Read, the founding and long-serving first president of the Foundation for Economic Education (FEE), once told a story about when he first…
July, 2022
The Fallacy of Calls for a “Manhattan Project” to Solve National Economic Challenges
byMany see the World War II project to build an atomic bomb as a template for government action to solve what appear to be…
The Fed Cannot Go Bankrupt; However, It Can Bankrupt the Country
byA recent essay on the Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J….
The collapsing euro and its implications
byThe euro system and its currency are descending into crisis. Comprised of the ECB and the National Central Banks, the system is over its…
The Nature of Money Creation
byWe are all in service to a money system based on simple injustice. It floods rich people with money taken from the poor. Money…
Failing states and strangled economies
byFickle markets have stopped worrying about inflation and begun to worry about recession. Both the financial establishment and investors seem incapable of understanding that…
Lessons from History: The Business Cycle
byA boom of credit expansion employed to increase output only further hinders the economy’s ability to recover. Cheap credit is not a tool to…
How the BOJ Created “Noninflationary” Money While Ruining the Japanese Economy
byMilton Friedman (1963) argued that “inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only…