The European Central Bank is ramping up its easy-money policies in an effort to spur inflation, which it hopes will improve the economy. The wealthy and powerful will benefit from this, but most everyone else is in big trouble, writes Frank Hollenbeck.
This audio Mises Daily is narrated by Robert Hale.
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2024-02-26
Imagine someone giving a State of the World address that begins with a reminder that people possess free will and ought to be doing a better job of exercising it. This could possibly raise doubts about the speaker’s mental stability—at least until the talk went into the dark details of civilization’s condition.
2024-02-24
Students apply for a scholarship here.
"Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day. Human Action by Ludwig von Mises is such a book, and more: a comprehensive treatise on economic science that would lay the foundation for a massive shift in intellectual opinion that is still working itself out fifty years after publication."
So begins the introduction to the 1998 scholar’s edition of Mises’s Human Action, written by Jeffrey Herbener, Hans-Hermann Hoppe, and Joseph Salerno. These words still ring true today.
We are excited to invite you to join us at the Mises Institute in Auburn, Alabama, for our
2023-11-25
Market implied Fed Funds rate discount a string of cuts starting in January 2024 and culminating in a 4.492 percent in January 2025. These expectations are based on the perception that the Federal Reserve will achieve a soft landing and that inflation will drop rapidly. However, market participants who assume rate cuts will be bullish may be taking too much risk for the wrong reasons.
The messages from the Federal Reserve contradict the previously mentioned estimates. Powell continues to repeat that there is more likelihood of rate hikes than cuts and that the battle against inflation is not over.
Markets are not following monetary aggregates, and what they show is not good for the economy. According to the Federal Reserve, between September 2022 and September 2023, M1 declined from
2023-11-24
Despite the numerous permanent problems faced by public healthcare systems, a significant number of people (such as citizens, politicians, and doctors) still seem to deem them necessary and believe that the problems associated with them can be solved by, for example, better management, increased expenditure, or central planning. Therefore, in this essay, the main arguments in favor of a gradual departure from public systems will be presented alongside the benefits of (unhampered) market solutions.
1. The Public System Overly Restricts the Role of the Consumer
In the market, despite the important role of entrepreneurs and capitalists, it is the consumer who is the most important link. In the economic sense, the whole process and organization of the production structure is subordinated to
2023-11-22
With the release of Ridley Scott’s new film Napoleon, viewers encounter a cinematic version of Napoleon caught up in a tumultuous romance against the backdrop of the upheavals of the Napoleonic wars.
This has revived interest in the French military commander and left many wondering what they are to make of the real, historical Napoleon. For many Americans in the audience—who, unlike Europeans, devote virtually no time to Napoleon in school—this may be the first time they’ve thought much about Napoleon at all.
Overall, this question certainly isn’t new. Napoleon does not have a reputation like Hitler, for example. Even people who have never read a history book in their lives know they’re not supposed to like that guy. Nor are we routinely told that Napoleon is benign like, say, George
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