Suppose you bring a fur coat to a dry cleaner and later discover that the owner allowed his wife to wear it before cleaning it (an episode from Seinfeld). Or suppose you gave your car keys to a hotel valet and was told he lent your car to teenagers who took it for a joyride while you were sleeping at the hotel. You would not be too happy and for good reason. When you surrendered your clothes or your car keys, it was a bailment. You retained ownership and gave the clothes or car keys for safekeeping. In no shape or form did you surrender ownership of the items or lend out your property.Suppose you lived in the eighteenth century and had a hundred ounces of gold. It’s heavy, and you do not live in a safe neighborhood, so you decide to bring it to a goldsmith for

Zurechtkommen mit der Komplexität des Klimawandels. Eine genauere Betrachtung der wissenschaftlichen Methode und ihrer Einschränkungen

15. März 2024 – von Frank Hollenbeck
Die physikalischen Wissenschaften haben bei der Erforschung einfacher Phänomene große Fortschritte gemacht. Bei einem einfachen Phänomen haben wir eine begrenzte Anzahl wichtiger Variablen, die alle identifizierbar und messbar sind. Dies ermöglicht es uns, ein wissenschaftliches Experiment durchzuführen. In einem solchen Experiment halten wir alle anderen Variablen konstant und untersuchen den Einfluss einer Variablen auf das Phänomen. Wir können also messen, in welche Richtung diese Variable geht und wie wichtig sie für das Phänomen ist. Anschließend können wir dasselbe

Listen to the Audio Mises Wire version of this article.
Listening to the news, you might have the impression that its Christmas and the government is Santa Claus. Under legislation recently introduced in Congress, Americans over the age of sixteen would receive $2,000 per month for at least six months. This follows the government’s $1200 giveaway in progress. Milton Friedman, the creator of the term “helicopter money,” warned that the helicopter was unlikely to fly only once. The current government policy is to keep the rotor blades from powering down.
The USA also approved $2 trillion in additional spending without any real discussion or even concern over how to pay for it. This is not surprising. Every year we talk about fiscal cliffs or budget deficits, and

Central bankers think too much saving is a problem that must be solved with more money creation. But the real problem is the Keynesian-style fractional reserve banking system.

This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.
Original Article: “Why Americans Don’t Have Any Savings“

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