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No institution is exempt from the American public’s growing distrust of the federal government. Even the military, which has traditionally enjoyed broad support from Americans of all political stripes, is now seeing its otherwise pristine image take a hit. According to

Ludwig von Mises writes tragedy in the language of political economy. There is in man the very principle of frustration. Once, and perhaps for the first time, he did find the right way. Beginning with the optimistic social philosophy of 18th-century

Most experts tend to assess the strength of an economy in terms of real gross domestic product (GDP). The GDP framework looks at the value of final goods and services produced during a particular time interval, usually a quarter or

Why do entrepreneurs start businesses in the first place? They have a vision for the future and seek to work with other people to bring it about. Those other people may be colleagues and employees, directors and investors, suppliers, and

In the incessant media discussion about whether inflation is transitory there is a big elephant in the room about which all are silent. Perhaps strangely some do not see it. Others for whatever reason pretend it is not there. The elephant

[This article is from chapter 5 of Human Action. Robert Murphy has written a study guide for this chapter, available in HTML and PDF. This chapter follows "A First Analysis of the Category of Action."] 1. Time as a Praxeological Factor The

The US and other countries of the Western world are divided by ever more stark ideological differences, to put it mildly. Because most people live in societies where the power to make some of the most important choices and to

The global recovery has slowed down significantly since the peak of the reopening effect in June 2021. What many expected would be a multiyear cycle of above-trend growth is proving to be a more modest bounce. Furthermore, according to Bloomberg

For a while the postwar ideological climate seemed to be the same as during the war: internationalism, statism, adulation of economic planning and the centralized state, were rampant everywhere. During the first postwar year, 1945–46, I entered Columbia Graduate School,

Conservatism is allegedly grounded in a recognition of the natural limits of humanity. But when it comes to free trade, conservatives throw all that out the window. Original Article: "Conservatives and the Free Trade Straw Man" This Audio Mises Wire is generously