Mises Wire

By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?

University of Chicago professor Martha C. Nussbaum wants to save the world by preventing animals from eating each other in the wild. David Gordon (after pulling himself off the floor) comments on her proposal.

Ah yes, the Tea Party. Fifteen years after it was established by followers of Ron Paul, the so-called antiestablishment organization has been co-opted by establishment Republicans. Dale Steinreich is not surprised.

For decades, central banks have encouraged ever larger mountains of debt. But now the debtors face big problems as interest rates rise. Families and small business will pay the price.  

As the history of large states shows very well, choosing security without freedom leads to losing both rights and peace.

The Fed is winging it, but most on the FOMC believe only two more rate hikes are in the works, and then it's back to flooding the market with easy money. 

The global economy is entering a recession because recent unprecedented government spending has zombified hugely indebted economies and has crowded out the private sector.

Economists like Paul Krugman have claimed that practice of austerity in government would damage the US economy. As Mark Thornton points out, the opposite is true: austerity works.

Only Father Time helps us cut through the policy nonsense and understand interest rates conceptually.