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Relating a quip by Soviet economist Nikolai Fedorenko, Yuri Maltsev illustrated the problem with socialism in his foreword to Ludwig von Mises’s Economic Calculation in the Socialist Commonwealth. Fedorenko said, at the time, in Maltsev’s words, “[A] fully balanced, checked,

The Majesty of the Law When I was seven years old, playing in front of our house on the outskirts of Brooklyn one morning, a policeman stopped and chatted with me for a few moments. He was a kindly man, of

Genuine change will likely come only through muddling through at the state and local level. That kind of work will be instrumental in the creation of decentralized alternatives to our present political order. Original Article: "Ron Desantis Plans to Revive Florida's

On December 15, the Federal Reserve announced numerous quantitative tightening measures that have the intended goal of combating the rising inflation that has been bogging down the American economy. As of November 2021, the rate of inflation has reached 6.8

The true cost of America's wars—in lost productivity, resources, and opportunity cost—is far higher than even the official numbers of trillions spent on the Pentagon's many failures. Original Article: "America's Wars Are Far More Costly than the Pentagon Admits" This Audio Mises

Whereas inflation rates in the US and Europe have risen steeply in the course of the year 2021, consumer price inflation in Japan stood at 0.1 percent for October 2021 (Figure 1). Also, Japanese producer price inflation of 8 percent

Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that

Not surprisingly, both houses of Congress approved another increase in the debt ceiling and have sent the bill to President Biden, who will most assuredly sign it. The bill raises the debt ceiling to $31.5 trillion. This debt ceiling is

Like the Fed, the ECB is resisting interest rate increases despite producer and consumer prices soaring. Consumer price inflation across the Eurozone was most recently recorded at 4.9%, making the real yield on Germany’s 5-year bond minus 5.5%. But Germany’s

I – Classical Economic Theory It is my goal to reconstruct some basic truths regarding the process of economic development and the role played in it by employment, money, and interest. These truths neither originated with the Austrian school of economics