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Get Government Out Of The Welfare Business

Authored by Lee Friday via The Mises Institute, Fighting poverty is a favorite pastime of government because politicians get to portray themselves as champions of the poor. However, the unfortunate few tend to be far fewer in number when aid is extended privately instead of through tax funded programs. Government Bureaucracies Benefit from Welfare Programs […]


The Hyperinflation That Was Not, Report 26 Nov 2017

Last week, we made a very controversial statement. We are happy to write the truth, and let the chips fall where they may (e.g. our thoughtful disagreement with Ted Butler about price manipulation). We can accept the flak that we get for this, so long as our position is understood. Some criticized our approach as […]


Why Socialism Is Dead

Authored by Gary North via GaryNorth.com, Socialism was a specific philosophy of government ownership of the means of production. The democratic welfare state was never a variety of socialism. Marx, the most famous socialist, despised democracy. He despised all attempts at economic amelioration through legislation. He wanted a proletarian revolution. He preached — the correct […]


Can Gradual Interest-Rate Tightening Prevent A Bust?

Authored by Frank Shostak via The Mises Institute, Fed policy makers are of the view that if there is the need to tighten the interest rate stance the tightening should be gradual as to not destabilize the economy. The gradual approach gives individuals plenty of time to adjust to the tighter monetary stance. This adjustment […]


The Swamp Wins: Trump Expected To Nominate Powell To Replace Yellen

Authored by Tho Bishop via The Mises Institute, In the end Donald Trump will get what he wanted, a “low interest rate person” who also happened to be a “Republican.” Jerome Powell is expected to replace Janet Yellen in an announcement later this week. If so, this means Trump will ensure that, while the stationary at the Eccles Building […]


America is in Worse Financial Shape than Russia or China

Kotlikoff: America in Worse Financial Shape than Russia or China Written by Peter Diekmeyer, Sprott Money News    America’s 2017 fiscal gap will come in near $6 trillion, nine times higher than the $666 billion deficit announced by the US Department of the Treasury last week, says Laurence Kotlikoff, an economics professor at Boston University. […]


Milton Friedman & Conservatives Are Wrong In Education

Authored by Jacob Hornberger via The Future of Freedom Foundation, Once upon a time, some conservatives used to call for the abolition of the U.S. Department of Education. Lamentably, conservatives today celebrate when a “free-market advocate” like multimillionaire Betsy DeVos is appointed U.S. Secretary of Education, and they get terribly excited when she speaks at […]


Ethereum, Mises, & Why Cryptos Are Not A Bubble

Authored by Tom Luongo via TomLuongo.me, Bitcoin satisfies Mises’ Regression Theorem as money and that’s why it’s so confusing to some many people. So many people simply misunderstand what cryptocurrencies are and what they can be.  Even to the informed skeptic they represent a sea-change in thinking which betrays their fundamental misunderstandings about the nature […]


The Fed’s ‘Quack Treatments’ Are Causing The Stagnation

Authored by EconomicPrism's MN Gordon via Acting-Man.com, Bleeding the Patient to Health There’s something alluring about cure-alls and quick fixes. Who doesn’t want a magic panacea to make every illness or discomfort disappear? Such a yearning once compelled the best and the brightest minds to believe the impossible for over two thousand years.   Instantaneous […]


Is Bitcoin a Commodity, Gold & Silver Report 24 Sep 2017

Carl Menger, father of the Austrian School of Economics, showed the world that money is not the product of the state. He did not mean that government is intrinsically incapable of decreeing something to be money while other groups, organized for different purposes, could do it. He described how money emerges as the commodity which […]


Keynes: A Master Of Confused And Confusing Prose

Authored by Hunter Lewis via The Mises Institute, [This article is a selection from Where Keynes Went Wrong] Paul Samuelson, professor of economics at MIT after World War II and author of a best-selling economics textbook, was one of Keynes’s most ardent American disciples. Here is what he has to say about the latter's General Theory: […]


The Government Debt Paradox: Pick Your Poison

Authored by EconomicPrism's MN Gordon, annotated by Acting-Man's Pater Tenebrarum, Lasting Debt “Rule one: Never allow a crisis to go to waste,” said President Obama’s Chief of Staff Rahm Emanuel in November of 2008.  “They are opportunities to do big things.”   Rahm Emanuel looks happy. He should be – he is the mayor of […]


Bank of Canada Shuts Out Free Market Economists from Key Policy Conference

  Bank of Canada Shuts Out Free Market Economists from Key Policy Conference Written by Peter Diekmeyer, Sprott Money News     Next week’s Bank of Canada policy conference appears set to deliver standard talking points. Not a single free market economist has been invited and a BOC spokesperson confirmed that the alternative-financial press is […]


A Simple Program To Stabilize The Economy (In Four Words)

Authord by Joseph Salerno via The Mises Institute, Paul Cantor, Clifton Waller Barrett Professor of English at the University of Virginia and Associated Scholar of the Mises Institute, attended Ludwig von Mises’s seminar at NYU as a young man. He recently surprised and delighted a few of us by revealing that the line that he remembers Mises […]