[Chapter 4 of Per Bylund's new book How to Think about the Economy: A Primer.] To help us understand what is going on in the economy, what is important is not the types and number of goods that sit on store shelves. It

In wartime, politicians frequently attempt to claim that all the citizens of foreign states are guilty of all the crimes their regimes commit. This is a modern invention, and a barbaric one. Original Article: "No, Ordinary Russians Are Not Responsible for

[This article was adapted from a talk delivered at the 2022 Supporters Summit in Phoenix, Arizona.] The international system we live in today is a system composed of numerous states. There are, in fact more than 200 of them, most of

The blockbuster film The Woman King has resurrected the myth that slavery furnishes wealth. While irate critics argue that the film downplays the fact that the Dahomey Empire derived its wealth from slavery, however, this observation wrongly conflates political success

The word “inflation” is heard and read everywhere these days. However, since different people sometimes have very different understandings of inflation, here is a definition: Inflation is the sustained rise in the prices of goods across the board. This definition conveys that inflation

Until the day comes that a majority of the population wants to abolish all states, it makes sense in the meantime to look to ways that will reduce the power of states, localize that power, and take at least some

The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money. Original Article: "History Repeats Itself: Abandoning Sound Money Leads to Tyranny and Ruin" This Audio Mises Wire is generously sponsored

The Federal Reserve has a legal dual mandate to minimize unemployment and price inflation. The current “dual” between the two mandates is to reduce price inflation by increasing interest rates to increase unemployment and kill businesses to choke off aggregate

Is praxeology inconsistent? Praxeologists criticize neoclassical economists for using false assumptions in their models. For example, neoclassicals acknowledge that the conditions for “perfect competition” are never found in the actual world. Firms selling a good such as wheat may not

UK entrepreneur and founder of the Cobden Centre Toby Baxendale joins Bob to discuss meeting Hayek, the history of economists supporting 100% reserve banking, and the tools central banks and governments will use to enact "financial repression."