How the Draft Destroys Federalism and Centralizes State Power
The US Senate continues to debate legislation potentially adding women to the military draft in the United States. This week, for instance, Senator Josh Hawley attempted to remove from the 2021 National Defense Authorization Act provisions requiring that “all Americans”
Price Inflation Hits a 31-Year High as Janet Yellen Insists It’s No Big Deal
The Bureau of Labor Statistics reported Wednesday morning that prices rose 6.2% on a year-over-year basis in October. That’s the highest YOY rate since December 1990 when the CPI was also up 6.2 percent. October’s rate was up from 5.3 percent in September,
How Nigeria’s Central Bank Inflates the Money Supply
In April 2021 the governor of Edo State, Godwin Obaseki, said that the federal government printed an additional NGN 60 billion (60 billion naira) to be shared between all the states at the Federation Account Allocation Committee (FAAC). This was
Deconstructing the Opening up of Coal Mining in India
1. History Coal mining was started by the East India Company in India in 1774 at Raniganj coalfield in West Bengal. Coal mines were mainly owned by British firms and government entities like railways until independence. In 1956, the establishment of
Is College Worthwhile? A Two-Time Dropout’s Take
President Biden is tub-thumping for Congress to create new federal handouts to make college free for the vast majority of students. But as Ryan McMaken and other commentators on mises.org have pointed out, college is vastly overpriced and overrated nowadays. My
How Should Prices Be Determined?
"How should prices be determined?" To this question we could make a short and simple answer: prices should be determined by the market. The answer is correct enough, but some elaboration is necessary to answer the practical problem concerning the wisdom
How Asset Price Inflation Is Different from Goods Price Inflation
There has been no constant concept of asset price inflation through the modern age of fiat money even amongst those who recognize the condition. The term has become most popular in the present period of inflation targeting coupled with the
A Fat, Comfortable Military Is a “Woke” Military
Over the past decade federal military and intelligence agencies have increasingly embraced so-called woke campaigns and policy positions. Specifically, these government agencies have taken explicitly ideological positions in promoting “pride month” and more recruitment of larger numbers of gay and transgender
Per Bylund: How Austrian Entrepreneurs Succeed
Successful entrepreneurs are Austrians, they just don’t know it yet. This is a famous assertion from Dr. Per Bylund, and we dissect its meaning in the latest Economics For Business podcast. Key Takeaways and Actionable Insights Success starts from a deep understanding of subjective
Cronyism, Not Welfare, Is China’s Big Problem
After three decades of promarket reforms, extreme poverty in China has been virtually eradicated. So President Xi Jinping now has the leverage to shift his attention to reducing the wealth gap in Chinese society. In a speech to the Chinese