Charles Evans: The Risk of Deflation

By: C.Jay Engel Chicago Fed President Charles Evans spoke on Friday, expressing his fear that there was risk to the downside on the inflation outlook. These people! Unlike the Austrians, who define inflation and deflation in terms of the supply of money and fiduciary media, the mainstream defines them in […]

Why Socialism Promotes “Free Love” Over Family

By: Llewellyn H. Rockwell Jr. G.K. Chesterton called the family an anarchistic institution. He meant that it requires no act of the state to bring it about. Its existence flows from fixed realities in the nature of man, with its form refined by the development of sexual norms and the […]

Trump’s Budget Explosion Will Bring Dire Monetary Shocks

By: Brendan Brown The monetary consequences of the looming largely unfunded mega tax-cutting package will almost certainly trump all others. Its advocates make vital comparisons with the Reagan era. But they omit the key fact that fiscal shock then occurred within a rare episode of “hard money.” Paul Volcker, nominated as […]

Money-Supply Growth Fell to an 8-year Low in March

By: Ryan McMaken The supply of US dollars has slowed during early 2017 with March’s year-over-year percentage increase hitting a 103-month low of 5.9 percent. The last time the year-over-year growth rate was lower was during September of 2008, when the growth rate was 5.2 percent. Monthly year-over-year growth rates in […]

Allan H. Meltzer, RIP

By: Joseph T. Salerno Allan H. Meltzer, a distinguished monetary economist and historian and a longtime professor of economics at Carnegie-Mellon Institute, died on Monday at the age of 89.  Details of his life and career can be found in his obituaries (here, here, and here).  At the time of […]

The Essential Link Between Consumers and Financial Markets

By: Frank Shostak Recently one of the most successful Wall Street investors Warren Buffet urged investors to forget about active investment and simply put their money into index funds. Contrary to his previous ideas that one should strive to make investment decisions based on the understanding of fundamentals, now he […]

Three Ways Trump’s Tax “Cuts” Will Raise Taxes

By: Ryan McMaken Tax cuts are great when they are actually tax cuts. In a system with a central bank, though, tax cuts are never tax cuts if there are no spending cuts to accompany them. This is because tax cuts without spending cuts simply mean more deficit spending.  Unfortunately, […]

Napolitano: The GOP Didn’t Touch the Core of Obamacare

By: Ryan McMaken On Kennedy yesterday, Judge Andrew Napolitano explained how the GOP’s “repeal” of Obamacare does nothing to touch the four foundations of the Obamacare plan.  The new plan “assumes the premise of Obamacare,” Napolitano noted, explaining that the ideological and legal foundations of Obamacare are still in place.  […]

Listen to Dead Economists

By: Jeff Deist The late economist Friedrich Hayek, celebrated earlier this week on the anniversary of his birthday, left an enduring body of work and a place in history as the reluctant winner of a Nobel Prize he thought suited only to the physical sciences. But exactly how enduring his […]

California, Illinois, and New York Keep Losing People to Other States

By: Ryan McMaken It seems that many residents of the West Coast and the Northeast are leaving those regions behind.  In March, for example, the Sacramento Bee reported that California “exports its poor to Texas…while wealthier people move in.” Former Californians report that a lackluster job market, a high cost […]

How Government Regulations Made Healthcare So Expensive

By: Mike Holly [Originally published 12/17/2013 as a Mises Daily article.] “Those who cannot remember the past are condemned to repeat it,” declared philosopher George Santayana. The U.S. “health care cost crisis” didn’t start until 1965. The government increased demand with the passage of Medicare and Medicaid while restricting the […]

President Trump: Cancel Your Saudi Trip, Play More Golf

By: Ron Paul President Trump is about to embark on his first foreign trip, where he will stop in Saudi Arabia, Israel, and the Vatican, before attending a NATO meeting in Brussels and the G-7 summit in Sicily. The media and pundits have loudly wondered why hasn’t he gone on […]

Migrants from Other States Are “Stealing Our Jobs”

By: Ryan McMaken As Ludwig von Mises noted, unrestrained immigration is not without its downside. This is due to the fact that linguistic and cultural majorities have a habit of using the political system to exploit the linguistic and cultural minorities. As these majorities change due to migration, this can […]

What Individualism Is, and What It Is Not

By: Friedrich A. Hayek To advocate any clear-cut principles of social order is today an almost certain way to incur the stigma of being an unpractical doctrinaire. It has come to be regarded as’-the sign of the judicious mind that in social matters one does not adhere to fixed principles […]

Fed Speeches: What They Said

By: C.Jay Engel Fed Vice Chairman Stanley Fischer spoke first on Friday morning and made it clear that the Fed’s discretionary approach to monetary policy was to be preferred over a “rules-based” approach. That is, the flexible judgment calls of the economists at the helm of the economy are going […]

Obamacare? Trumpcare? Get Rid of it All

By: Chris Rossini Ever since the US government began to sink its claws into the medical industry a good 50 or so years ago, attempts at reducing costs have failed again and again. This is par for the course whenever government invades an industry. Trying to reform this Frankenstein with […]

William Baumol, RIP

By: Matthew McCaffrey William Baumol, former professor of economics at Princeton and NYU, has passed away at the age of 95. Throughout his long career he contributed to many fields in economics, and he leaves behind an influential body of research on numerous topics relating to innovation and economic growth. […]

More Than One-Third of Americans Are on Government Healthcare

By: Ryan McMaken The US House of Representatives voted to day to “repeal and replace” Obamacare. Unfortunately, those who use the phrase “repeal and replace” are greatly exaggerating the extent to which the Affordable Care Act is actually repealed.  While perhaps a tiny step in the right direction, the new […]

One-Third of Americans Are on Government Healthcare

By: Ryan McMaken The US House of Representatives voted to day to “repeal and replace” Obamacare. Unfortunately, those who use the phrase “repeal and replace” are greatly exaggerating the extent to which the Affordable Care Act is actually repealed.  While perhaps a tiny step in the right direction, the new […]

More Housing = More Affordable Housing

By: Ryan McMaken It’s no secret that in coastal cities — plus some interior cities like Denver — rents and home prices are up significantly since 2009. In many areas, prices are above what they were at the peak of the last housing bubble. Year-over-year rent growth hits more than […]