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In a developed economy, the satisfaction of desires can be obtained not only by goods in use, but also by goods in exchange. Original Article: "Using Goods vs. Exchanging Them: Menger Explains the Difference" This Audio Mises Wire is generously sponsored by

To maintain his life and well-being, an individual must have at his disposal an adequate amount of consumer goods. These goods, however, are not readily available. Without tools at his disposal and by means of his bare hands, the individual

Jeff Deist hosts a solo show to discuss one of his favorite novels from childhood, All Quiet on the Western Front. Its young protagonist Paul Bäumer, barely out of adolescence, narrates the horrors of trench warfare from the perspective only

The Biden administration, the Fed, and Wall Street all cheered the July employment report on Friday, which stated that total nonfarm payrolls rose by 943,000—8.4 percent better than expectations of 870,000—and the unemployment rate fell 0.5 percent to 5.4 percent in July. They

The philosopher Michael Huemer is usually favorable to the free market, and he is also a strong defender of anarchism. Although I disagree with some of the arguments in his defense of anarchism, The Problem of Political Authority, it is

Creating a functioning and sustainable local economy is much more time consuming and complicated than sprucing up a few buildings to look good on a TV show. Original Article: "Revitalizing a Town Takes a Lot More Than Fixing Up a Few

Every time something good seemed to emerge from Tinbergen’s work, he seems to have managed to twist it in an awful direction. Original Article: "Jan Tinbergen, Pioneer of Central Planning" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by

While it’s easy to fixate on the handful of success stories, the litany of government innovation failures should be enough to sober up even the most enthusiastic proponent of state-backed entrepreneurship. Original Article: "The Seen and the Unseen of Government R&D" This

Almost fifty years ago, on August 15, 1971, the US administration under President Richard Nixon (1913–94) abolished the gold redeemability of the US dollar. It was through this unilateral decision that the world's major currencies were turned into irredeemable money:

If one were to go only on what one reads or sees in the media, one would think it’s the spring of 2020 all over again. The headlines are filled with stories of overcrowded hospitals, overwhelmed medical personnel, and predictions