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An excellent new book from Edward Chancellor, The Price of Time, sets out to explain both the theory and history of interest rates across five millennia and countless cultures. The theory is frequently bungled by economists; the history is frequently glossed over by historians.

“It is not Wisdom but authority that makes a law.”                                -- Thomas Hobbes That meal, guest or package that came to your front door this month is

High time preferences also mean high times in a party atmosphere. When Jamaica embraced socialism many decades ago, it wasn't supposed to come to this. Original Article: "In Jamaica, the Tourists Party On behind High Walls and Locked Gates" This Audio Mises Wire

Quite often, the hot-button issue of income inequality is caricatured as an outcome of capitalism rather than as a characteristic of all societies across time. Critics of capitalism have a rather romantic version of precapitalist societies. This error stems from

The federal government’s Bureau of Labor Statistics released new price inflation data today, and according to the report, price inflation during the month decelerated slightly, coming in at the lowest year-over-year increase in 12 months. According to the BLS, Consumer Price Index (CPI)

We’ve conducted 99 conversations with value-creating entrepreneurs, and we’ve conducted about 100 Q&As with business school professors who research and teach value creation. Here’s a headline summary of what we’ve learned. Knowledge Capsule 1) A firm is defined by its purpose. Firms with

The narrative to attack any tax cut and defend any increase in government size is reaching feverish levels. However, we must continue to remind citizens that constantly bloating government spending and increasing the size of monetary interventions are some of the causes

The US monetary system is out of sorts and out of control. The authors show a path back from the inflation brink to monetary soundness. Original Article: "Fiat and Gold: Two Fixes for a Broken US Monetary Base" This Audio Mises Wire is generously

In mid-November, while the whole world was focused on the Ukraine crisis, the US midterms or whatever other “big story” the media decided was more important, a truly momentous shift took place in the global financial system. It might seem

During the worst days of the covid lockdowns and mandates, Americans were told that wearing masks was a matter of life and death. However, those giving the orders didn't believe what they were saying. Original Article: "The Ongoing Covid Deceptions: How Ruling Elites