The ECB Is Raising Rates, but Is Also Committed to Buying More Government Bonds

By: André Marques The European Central Bank (ECB) raised interest rates for the second time this year (by 0.75 percent). The eurozone’s CPI was 8.9 percent in July. In that month, the ECB raised rates by 0.5 percent and created a new instrument of monetary policy, the Transmission Protection Instrument […]

The Queen is Dead, Democracy is Dying

With Queen Elizabeth II lying in state at Westminster Abbey, hereditary monarchies are under attack as archaic & absurd. Has mass democracy in the West done any better? Ryan McMaken joins Jeff and Bob to discuss. Read Ryan’s Article on Monarchs: Read Hoppe’s Democracy: Powered by WPeMatico

Why the Fed Usually Ignores its Mandate for “Stable Prices”

In recent years, Congress has attempted to add various new mandates to the Federal Reserve’s mission. In 2020, Democrats introduced the “Federal Reserve Racial and Economic Equity Act.”  Then, in 2021, pundits and politicians were telling us that it’s the Fed’s job to “combat climate change.” These are just the latest efforts […]

Inflation Heat Map

By: Robert Aro With the August Consumer Price Index (CPI) reaching 8.3% earlier this week, the general public wonders when exactly the Fed rate hikes, to fight (price) inflation, will kick into effect. Meanwhile, the Wall Street Journal offers a unique visualization of (price) inflation over the last year, see […]

Short-Term Market Volatility Is Not Entirely Random

Typical teaching on stock prices says they are little more than a random walk. But people’s purposeful actions are behind every economic transactions. Original Article: “Short-Term Market Volatility Is Not Entirely Random” This Audio Mises Wire is generously sponsored by Christopher Condon.  Powered by WPeMatico

How Do We Define Socialism? By What It Does—and Does Not—Do

A famous aphorism says, “You cannot hit a target you cannot see,” which expresses a more general truth. We cannot hit what we cannot see, because seeing allows us to discern things of interest from everything else; it focuses on a signal, on a target, rather than the noise around […]

Hoppephobia: Redux

By: Kristoffer Mousten Hansen Hans-Hermann Hoppe, despite retiring about fifteen years ago and only publishing lightly since, has an (un)enviable characteristic: he still manages to provoke his opponents to violent and rather silly outbursts from time to time. The most recent round of pearl clutching emanated from the otherwise sound […]

Government Intervention into International Currency Exchange Rates: Japan as a Case Study

The recent hefty depreciation of the yen to a twenty-four-year low against the dollar has raised eyebrows due to the yen’s traditional safe haven role in times of turmoil, such as the war in Ukraine. The yen’s decline had already started when major central banks signaled a tightening of monetary policy […]

We Cannot Interpret Economic Data Unless We Know Economic Theory

Logical positivism holds that theory is irrelevant to the empirical results. It is the other way around; One cannot understand or interpret economic data until one has a working economic theory in place. Original Article: “We Cannot Interpret Economic Data Unless We Know Economic Theory” This Audio Mises Wire is […]

Molinari Explains the Difference between Monarchy and Popular Government

With the impending burial of the United Kingdom’s Queen Elizabeth, republicans from London to Sydney have ramped up their efforts to end the British monarchy. The resulting war of words between monarchists and their opponents has highlighted the sheer diversity of opinions over the desirability of monarchy. Indeed, it would be […]

Wages, Unemployment, and Inflation

Our economic system—the market economy or cap­italism—is a system of consumers’ supremacy. The customer is sovereign; he is, says a popular slogan, “always right.” Businessmen are under the neces­sity of turning out what the consumers ask for and they must sell their wares at prices which the con­sumers can afford […]

The False Benefit of Less Land Use for Agriculture

Even as population has grown, increasing the intensive margin for agriculture has led to increased food production. This may not necessarily be a good thing. Original Article: “The False Benefit of Less Land Use for Agriculture” This Audio Mises Wire is generously sponsored by Christopher Condon.  Powered by WPeMatico

Infighting, Hypocrisy, and the 2022 Midterms

By: Joseph Solis-Mullen With primaries having concluded, the stage is set for an uncertain midterm election just six weeks from now. Whereas even six months ago the betting money would have been on the Democrats receiving an historic two-chamber shellacking, a combination of factors have resulted in the tables possibly having […]

On Mises’s Ethical Relativism

I think it important to delineate briefly what relativism is and what the issues are on this important topic. Let us first consider the polar opposite of relativism: absolutism. The absolutist believes that man’s mind, employing reason (which according to some absolutists is divinely inspired, according to others is given […]

The Nilar: A Pan-African Gold Currency

African countries emerged as “independent” nation-states in a context of a debt-based fiat money system, the fiat dollar standard. Independent is in quotation marks because Africa’s countries’ independence is nominal. That is said with due respect and gratitude to all brave men and women who fought, bled, and died to […]

The War on Profit Margins

By: Robert Aro It could be a coincidence, but probably not, that Joseph Stiglitz commented on corporate profit margins then the following week Federal Reserve Vice Chair Lael Brainard wrote about Bringing Inflation Down, where she too mentioned the problem with high profit margins. In her own words, she found […]

The Enclosure Movement and the Agricultural and Industrial Revolutions

Few technological changes have been criticized as much as the enclosure movement, strongly associated with the British Isles, but actually rooted in the Netherlands. Consider this definition of the movement offered by the Community Environmental Legal Defense Fund (CELDF): The Enclosure Movement or inclosure is the process which was used to […]

Looking at the Economic Myth of the “Soft Landing”

According to commentators, countering inflation requires monetary authorities to actively restrain the economy, with “experts” believing that higher interest rates need not cause an economic slump. Instead, they believe that the Fed cab orchestrate a “soft landing.” It is questionable, however. that a soft-landing scenario is possible. Money Printing Creates […]

When Honesty Is Disincentivized, Don’t Be Surprised That Trickery Abounds

Economists often deplore the corruption in developing countries, but when institutions are corrupt, don’t expect people to have the incentive to be honest. Original Article: “When Honesty Is Disincentivized, Don’t Be Surprised That Trickery Abounds” This Audio Mises Wire is generously sponsored by Christopher Condon.  Powered by WPeMatico

Inflation in the USA: Where Do We Stand Today?

Biden has declared that the USA has “zero inflation” at present. Austrian economists say, “Not so fast.” Original Article: “Inflation in the USA: Where Do We Stand Today?” This Audio Mises Wire is generously sponsored by Christopher Condon.  Powered by WPeMatico