Mises Institute

When there is a cascade of failing businesses at one time, it is easy to think of it as an economic contagion that is a by-product of capitalism. Yet, a cluster of business errors can be laid firmly at the feet of government.

In criticizing the progressive notion of equity, or equality of results, critics of such views embrace an order of “meritocracy.” F.A. Hayek, however, understood that in a free society, inequality is inevitable, and it is something we must accept.

The drive to religious freedom in America was carried out overwhelmingly in the state legislatures—and the federal First Amendment had almost nothing to do with it.

The so-called K-shaped economy—where some experience positive growth and others negative growth—is perfectly explained by Austrian business cycle theory and the Cantillon effect.

On the economy, Trump gives himself a grade of “A+++++,” which is reminiscent of Hoover and other politicians who interpreted their economic failures as successes.

While Modern Portfolio Theory (MPT) is popular in academic economics and finance, it fails to properly explain profits, mistakenly confusing entrepreneurial profit seeking with risk management.