William Nordhaus coined the term “Political Business Cycle” a half-century ago. The idea was that government authorities, particularly the central bank, would manipulate the economy to correspond with election cycles, a practice that continues to this day.
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Category Archive: 6b.) Mises.org
Enslavement of Native Americans in the Caribbean
The transatlantic slave trade from Africa is a well-known chapter in the history of slavery in the Western Hemisphere, but much lesser known is the enslavement of Native Americans. Many of them were shipped to plantations in the Caribbean where they were worked to death.
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Wealth Generation and the Market Economy
A free market economy does not generate jobs or money. Instead, it creates wealth through exchange and production. Government intervention, contrary to what mainstream economists believe, does not enhance wealth, but instead destroys it.
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Why Elon Musk Is Right: The Case Against Subsidizing Amtrak
Amtrak is always on the verge of reviving intercity rail traffic in the US, or at least that is what politicians want us to believe. The truth is that the case for defunding Amtrak has never been stronger.
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Inflation: Looking Beyond Aggregates
Mainstream economists define inflation as the increase in an imaginary “price level” that is relatively neutral in its effects. Austrian economists, however, know better, as they realize that the effects of inflating the money supply are anything but neutral.
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Don’t Be A Panican, But Question Government Shenanigans
Ours in an age when people panic, sometimes for good reasons but often for bad. Governments benefit from panicked citizenry, which is why we always should question those political decisions that can turn our lives upside down.
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Truth or Consequences
The transatlantic slave trade from Africa is a well-known chapter in the history of slavery in the Western Hemisphere, but much lesser known is the enslavement of Native Americans. Many of them were shipped to plantations in the Caribbean where they were worked to death.
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Why Haters of Free Markets Love the Fruits of Free Markets
There are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.
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Why Haters of Free Markets Love the Fruits of Free Markets
There are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.
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We Never Got to Torture Congress
Thanks to the endless “War Against Terror,” the US Government promoted methods of torture. Congress stood by and let it happen.
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We Never Got to Torture Congress
Thanks to the endless “War Against Terror,” the US Government promoted methods of torture, including some borrowed from the sadistic torturers of the former Soviet Union. Congress stood by and let it happen.
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What Is the Rationale Behind Current US Tariff Policy?
The Trump administration has pursued a high tariff policy, reversing the movement to lower trade barriers around the world. The justification for this policy is the presence of trade deficits with other nations. However, what if US trade deficits don't matter?
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How High Egg Prices May Resemble High OPEC Cartel Oil Prices
While no one is accusing egg producers of colluding or price-fixing, from an economic standpoint, it certainly could be happening either by design or incidentally.
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How High Egg Prices May Resemble High OPEC Cartel Oil Prices
While no one is accusing egg producers of colluding or price-fixing, from an economic standpoint, it certainly could be happening either by design or incidentally.
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What the New Right Gets Right—and Wrong—About Free Trade
Bob responds to Oren Cass’s appearance on Tucker Carlson, offering a charitable yet firm economic critique of the anti–free trade ideas gaining ground on the political right.
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Is Culture Degeneration Biological or Ideological?
Why do cultures degenerate? Robin Hanson cites biological factors, but Mises and the Austrians point directly to purposeful choices.
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Price Controls and Drug Shortages in France: A Textbook Case of the Evils of Interventionism
France is facing critical shortages of a number of drugs, and one need look no further for a cause than a price control regime.
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Is Culture Degeneration Biological or Ideological?
Why do cultures degenerate? At the recent Natal Conference, Robin Hanson cites biological and evolutionary factors. However, if one looks to Mises and the Austrians, we look squarely at human action that begins with the human mind and purposeful action.
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Price Controls and Drug Shortages in France: A Textbook Case of the Evils of Interventionism
France is facing critical shortages of a number of drugs, and one need look no further for a cause than a price control regime. Naturally, the French media and government blame capitalism and look to double down on the intervention that has causes this crisis.
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On Swiss National Bank
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SNB Sight Deposits: decreased by 15 billion francs compared to the previous four weeks
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2025-07-31 – Interim results of the Swiss National Bank as at 30 June 2025
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SNB Brings Back Zero Percent Interest Rates
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Hold-up sur l’eau potable (2/2) : la supercherie de « l’hydrogène vert ». Par Vincent Held
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2025-06-25 – Quarterly Bulletin 2/2025
Main SNB Background Info
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