One place a price system manifests itself is the sports betting markets. The results are surprisingly accurate. Original Article: "Sports Betting and Spontaneous Order" This Audio Mises Wire is generously sponsored by Christopher Condon. 

A fallacy is defined as a mistaken belief or a failure in reasoning. Though most people try to avoid mistakes, no one is infallible, not even those who act like they are. You can download a chart of common fallacies here.

Does America simply lack the political will to face economic reality? In the teeth of the Depression, Treasury secretary Andrew Mellon famously told President Herbert Hoover to “liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate”—in other words, to resist bailing

[Chapter 9 of Per Bylund's new book How to Think about the Economy: A Primer.] By regulations, we mean restrictions imposed on the economy by government: prohibitions, license requirements, quality or safety standards, price controls, quotas, and subsidies, etc. Although they differ in

Historian Jon Meacham urges Joe Biden to be a "transformational" president in the way of FDR, but he forgets that Roosevelt put the "Great" in "Great Depression." Original Article: "Joe Biden and the "Transformational" Presidency" This Audio Mises Wire is generously sponsored by

Raising interest rates is a necessary but insufficient measure to combat inflation. To reduce inflation to 2 percent, central banks must significantly reduce their balance sheets, which has not yet occurred in local currency, and governments must reduce spending, which

Lutheran theologian Reinhold Niebuhr attracted numerous followers in postwar America in part because of his attacks on the free market. Perhaps he should have read Mises. Original Article: "Niebuhr, My God, to Thee" This Audio Mises Wire is generously sponsored by Christopher Condon. 

Whatever you make of it, Trussonomics didn’t detain us long. Liz Truss was appointed prime minister of the United Kingdom on September 6. A would-be Margaret Thatcher, Truss appointed as her chancellor of the exchequer fellow free marketeer Kwasi Kwarteng,

The common view of inflation is that it is defined as a general increase in prices. Actually, inflation is expansion of the money supply that results in price increases. Original Article: "Inflation Is Not Price Increases. Inflation Causes Price Increases." This Audio Mises Wire