In a recent issue, Time Magazine boldly declared, “The Free Market Is Dead,” and then added: “What Will Replace It?” Of course, one always can expect Time to be disingenuous at best and dishonest at worst, and as an academic economist, I have come to realize that after reading Time off and on for more than five decades, this is a publication that rarely gets it right when it comes to economic analysis. Yet, we also are dealing with a publication that effectively reflects whatever the current spirit might be.…

[Chapter 19 of Rothbard’s newly edited and released Conceived in Liberty, vol. 5, The New Republic: 1784–1791.] The most important battle of the August days of the Constitutional Convention was waged, as had been the battle over the three-fifths clause, between the North and South and had at its heart the institution of slavery. One of the small number of restrictions on Congress in the draft Constitution was a prohibition of any tax on exports, or of any tax or prohibition on the “migration or importation of such persons as the several States…

Do huge wealth redistribution schemes like Biden’s new plan actually make people better off? Some people will get a net benefit. How how numerous are they? How many millions will take a net loss? The government has no idea. Original Article: “The Fundamental Economic Problem with Biden’s Rescue Plan” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.   Source link

The Bank of Japan has been pursuing a monetary policy of “yield curve control” (YCC) since 2016, with which it keeps short and long-term interest rates for Japanese debt securities at around 0 percent. To do this, it buys massive amounts of government bonds. The Central Bank of Australia has been proceeding in a very similar way since March 2020. It keeps the three-year interest rate at 0.1 percentage points through bond purchases. The European Central Bank (ECB) seems to be increasingly warming up to the idea of not only…

Now that the average American voter is barely paying attention—and that the US is facing an economic crisis and weak recovery—it has become politically expedient to move further toward wrapping up a couple more lost wars.  Original Article: “The United States Has Declared Defeat in Two More Wars​​” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.   Source link