Mises Institute

As Hayek noted, civilizations do not arise from political decrees, nor are they the simple product of culture. The costs of transacting exchanges also play an important role.

As economic uncertainty grows, the authorities turn to their only “solution”: increase sovereign debt and ratchet up inflation.

A modern myth is that the more government taxes and spends, the more “equality” it brings. Brazil is proving that is not the case.

Murray Rothbard, like other Austrian Economists, believed that the heavy use of mathematics in economic analysis damaged economic understanding instead of enhancing it. This wasn't science, he said; it was "scientism."

This key decision of the Continental Congress matters because the way a war is fought affects the outcomes; the choice to fight like a state means either losing or winning like a state.

Pundits of the "New Right" are radically opposed to libertarianism. Yet the facts of history, and libertarian arguments, already addressed these anti-libertarian views long ago.

Unfortunately, widespread misconceptions about libertarianism and capitalism (the free-market economy) exist throughout the world. Films, literature, mainstream

The fangs of the U.S. Empire are now being bared against not only the Cuban people but also against the American people. The Empire has issued subpoenas to two

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