The work cumbersomely entitled, The General Theory of Employment, Interest and Money, now commonly abbreviated as "The General Theory," was published in 1936. It was therefore only ten years old when the author, John Maynard Keynes, died last April. Probably no

The concept of a pioneer’s advantage is based on a single, intuitive pillar: it takes time for knowledge to spread throughout society. When an entrepreneur mixes his existing knowledge and creates a new idea—in other words, innovates—he is the one who

Fractional reserve banking has existed throughout history, long before the creation of government currencies or central banks. Once monetary custodians realized that not all depositors would demand repayment simultaneously, the practice of lending out deposits in excess of reserves became

Here we go again. Since the original Gulf War in 1991, a certain pattern has emerged. Every few years, the regime in Washington attempts to whip the American people into a frenzy so as to support the latest American invasion

Introduction: Two Rights, Old and New In the spring of 1970, a new political term—"the hard hats"—burst upon the American consciousness. As the hard-hatted construction workers barreled their way around the Wall Street area, beating up college kids and peace demonstrators,

Libertarians stress self-ownership and property rights, but one variant position, held by Albert Jay Nock and Frank Chodorov, limits property rights. In their view, which they derived from the nineteenth-century economist and social reformer Henry George, you own only the

On Wednesday, the Federal Open Market Committee (FOMC) held true to its monetary-tightening timeline despite last week’s 10 percent drawdown in most major indices, effectively saying, “10 percent is not enough.” With retail sales numbers that will surely return to trend without

Germany's government is pushing a new plan for massive spending on a "Climate Fund." This is justified with the usual Keynesian myths about the benefits of government spending. Original Article: "Germany's New Green Stimulus Plan Won't Save Their Economy" This Audio Mises

The free banking debate seems to be a perennially reoccurring event with no resolution in sight. On Twitter, George Selgin recently had a series of tweets and threads again criticizing the “Rothbardian” position on free banking. Although partly due to