Adam Smith published The Wealth of Nations in 1776, at the beginning of the Industrial Revolution. The book was the result of twenty years of observation of human action and identification of the mechanisms and processes that lead to economic

Resources are scarce even when money is not. Original Article: "A Permanent Wartime Economy" This Audio Mises Wire is generously sponsored by Christopher Condon. 

“Economics,” wrote Henry Hazlitt, “is haunted by more fallacies than any other study known to man.” True. No epoch is immune to the scourge of economic illiteracy. Yet, we find ourselves in a moment of especially unprecedented economic ignorance. We’ve come a long

Welcome to Whose Economy Is It, Anyway?, where the rules are made up and the dollars don’t matter. Or at least that seems to be the view of the Yellen regime. As Doug French noted last week, Silicon Valley Bank (SVB)

Silicon Valley Bank (SVB) failed on Friday and was shut down by regulators. It was the second-largest failure in US history and the first since the global financial crisis. Almost immediately, the calls for bailouts started to come in. (Since

Two "distinguished" healthcare analysts have examined the medical system in the USA and conclude that the REAL problem is . . . large hospitals. Dale Steinreich applies economic analysis to their claims. Original Article: "Are Large Hospitals the Problem with US Healthcare?" This Audio Mises

The second-largest collapse of a bank in recent history after Lehman Brothers could have been prevented. Now the impact is too large, and the contagion risk is difficult to measure. The demise of the Silicon Valley Bank (SVB) is a classic

Keynesians and other economists believe the central bank can influence economic growth via monetary policy but that it may bring inflation. Thus, if the goal is faster economic growth and lower unemployment, then the economy may pay the price with