The Fed is cutting its discount rate again, but Americans will be disappointed with the results, as the Fed’s latest action only contributes to the boom-and-bust cycle.

Ludwig von Mises was born 144 years ago today. His economic masterpieces are as relevant and powerful today as when they were written. Mises still is the most eloquent voice against socialism.

Government not only has a monopoly on law enforcement and “justice,” but it also protects that monopoly against anyone who might seek justice outside the purview of the state.