Mises Daily

Many people think that tipping is a results from stingy employers not paying a "living wage." But tipping solves multiple economic problems while making employers more likely to hire untried workers. 

War is the outcome of class conflict inherent in the political relationship — the relationship between ruler and ruled, parasite and producer, tax-consumer and taxpayer. The parasitic class makes war with purpose and deliberation in order to conceal and ratchet up their exploitation of the much larger productive class.

Entrepreneurs need very specific information about their products, markets, customers, and profits. Government macroeconomic data, however, does nothing to assist entrepreneurs to obtain this important information, but only helps justify economic intervention. 

Eighty years ago, Mises's The Theory of Money and Credit first appeared in English. It remains one of the most important books on money and inflation penned in the twentieth century, and it still offers the clearest analysis and understanding of booms and busts, inflations and depressions.

The Fed has ended Quantitative Easing.  But this does not mean the era of easy money is over. In fact, the data shows that the Fed's policies will continue to ensure that malinvestments, instability, bust, and economic displacement will continue. 

Venezuela is one of the most economically unfree countries in the world, and it has one of the highest crime rates in the world. Unfortunately, President Maduro thinks he can fix the problem by making the country even less free than it is now. 

A perpetual and unlimited debt brings the cheapening of money and then inflation, whereby the middle class is economically murdered in its sleep. 

With European powers broke and economically ailing by 1916, World War One would have ended much sooner had the Federal Reserve and its cronies not stepped in to help England and France keep the bloodshed going. Meanwhile, US economic intervention led to a huge post-war bust in America. 

Abstinence would be tantamount to this notice to politicians: since we as individuals have decided to look after our affairs, your services are no longer needed. Having assumed social power we must, as individuals, assume social responsibility — provided, of course, the politicians accept their discharge.

Collective security agreements allow many countries's politicians to shift the cost of national defense to taxpayers outside their own countries. Moral hazard, belligerence, and over-reliance on military solutions often ensue.