Home2022November (Page 6)

Does America simply lack the political will to face economic reality? In the teeth of the Depression, Treasury secretary Andrew Mellon famously told President Herbert Hoover to “liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate”—in other words, to resist bailing out any industry through state

[Chapter 9 of Per Bylund's new book How to Think about the Economy: A Primer.] By regulations, we mean restrictions imposed on the economy by government: prohibitions, license requirements, quality or safety standards, price controls, quotas, and subsidies, etc. Although they differ in their specifics and in their

Raising interest rates is a necessary but insufficient measure to combat inflation. To reduce inflation to 2 percent, central banks must significantly reduce their balance sheets, which has not yet occurred in local currency, and governments must reduce spending, which is highly unlikely. The most challenging

Lutheran theologian Reinhold Niebuhr attracted numerous followers in postwar America in part because of his attacks on the free market. Perhaps he should have read Mises. Original Article: "Niebuhr, My God, to Thee" This Audio Mises Wire is generously sponsored by Christopher Condon. 

Whatever you make of it, Trussonomics didn’t detain us long. Liz Truss was appointed prime minister of the United Kingdom on September 6. A would-be Margaret Thatcher, Truss appointed as her chancellor of the exchequer fellow free marketeer Kwasi Kwarteng, who gave his emergency “mini