Capital and Labor Both Suffer under Minimum Wage Mandates
President Biden and the Democratic Party have pushed hard to more than double the national minimum wage from $7.25 per hour to $15 per hour over the next four years. This aggressive intervention in the functioning of labor markets has
The EU’s Woes Are a Political Problem, Not an Economic One
The problem with the European Union is not that it seeks to integrate Europe's economies. The problem comes from attempts to integrate politics as well. Original Article: "The EU's Woes Are a Political Problem, Not an Economic One" This Audio Mises Wire
What Rothbard’s Defense of Religion Teaches Us about Resisting the Covid State
Murray Rothbard died more than a quarter century before the outbreak of the covid mania and tyranny, but if he were alive today, he wouldn’t be surprised to see that the most common resistance at an institutional level comes from
The standoff between Apple and Facebook
Being two of the most influential companies operating in the world, both Apple and Facebook have lately been feeling the pinches of the other’s market endeavours. While Apple became the most valued Publicly Traded Company of the world in July
Why Europe’s Left Wants a European Financial Superstate
In an open letter to the EU Commission with the title Joint Letter: Reshaping the European Fiscal Framework, on February 17, 2021, a coalition of left-wing and green politicians, think tanks, and trade unions unsurprisingly led by George Soros made an
The Economics and Ethics of Government Default, Part II
The economic analysis of repudiation applies to the debt of all levels of government and to all countries. The central question is not how big the government is or how much it owes, but rather whether the debt is funded
The Fed’s Money Supply Measures: The Good News—and the Really, Really Bad News
Last week the Fed announced that, retroactive to May 2020, its M1 money stock measure would include savings deposits, which were reclassified as transaction accounts similar to other deposit components of M1 such as demand deposits and other checkable deposits
The V-Shaped Recovery Never Happened
In a display of unconvincing enthusiasm, NBC reported today that payroll employment “surged” in February. Specifically, total nonfarm payrolls (seasonally adjusted) grew 379,000, month-over-month which was above the expected increase of 210,000. That might sound great to some, but a closer
To Understand Economics, First Understand Private Property
In Man, Economy, and State, Murray Rothbard expounds the principles of economics by reconstructing an economy from the ground up. Following the practice of classical economists, he opens the book by imagining Robinson Crusoe alone on an island. After identifying
The True Cost of Taxation Is Much Higher Than Your Tax Bill
If we look beyond the mere tax revenue totals, we begin to understand that the cost of taxation to society is far higher than the tax revenue raised and that the costs to society of taxation grow faster than the