Mises Institute

[This article was originally published at Judgment Calls on May 19.]Edmund Phelps died last Friday. Obituaries focus on the expectations-augmented Phillips

According to the University of Michigan’s latest Index of Consumer Sentiment, a record number of Americans have negative views of the economy. This is yet more

Thanks to the Fed’s creation of asset bubbles, the US economy is producing many billionaires. However, the savvy entrepreneur is becoming increasingly scarce.

Can a communist system flourish under a liberal government? Bernie Sanders says yes, but Melanie Armstrong, author of Chicken in a Strange Way, gives a resounding no.

Although it's true that many government-driven price hikes in recent years aren’t “inflation” in the strict sense, the pain they cause is just as real. Warsh’s push to narrow what the Fed counts as inflation—so it can justify even more inflation—is alarming.

As socialists gain power in American cities and states, they look to destroy the creation of wealth and to tax the wealth-creators into oblivion. We know how these scenarios end.

The latest rage among defense contractors is the rise of the high-tech “neo-primes,” firms which supposedly will apply “smart” militarization. History and reality tell us, however, that these companies soon enough will be as bloated and corrupt as their contemporaries.

Did the Declaration of Independence carry a hidden message of abolition of slavery? Justice Clarence Thomas and historian Harry Jaffa believe that, but legal scholar Wanjiru Njoya holds that such an interpretation pushes the envelope too far.

The doctrine of positive economics tells us that data will provide an appropriate theory. As usual Austrian economists understand that mainstream economists have the entire thing backwards.

To celebrate The Year of Rothbard, we're giving away some of his most radicalizing and influential books. Get your copy of our June offering, Keynes the Man, before June 30.

The financial analyst Richard Daughty, whose pen name was Mogambo Guru, passed away four years ago, but while he was alive, he produced spot-on criticisms of the US government and its inflation rocket fuel booster, the Federal Reserve System.

Mark Thornton shows why every system that ignored the entrepreneur—from socialism to fascism to modern industrial policy—failed for the same reason.

Time is a unique resource in economics because we cannot create more of it and are subject to its limitations. Ludwig von Mises and the Austrians understand the role of time in economic better than most other mainstream economists.

The Appalachian region, while always relatively poor, had strong families and institutions that held things together. In the aftermath of the expansion of the welfare state and the shrinking of the iron, steel, and coal industries, we have seen social breakdowns and increasing drug addiction.