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Tariffs have been a key instrument in government trade policies for centuries. For instance, one of the wealthiest ancient countries, Khazaria (7th-10th centuries CE), did not tax its citizens directly but instead imposed tariffs on all passing caravans due to its strategic location along major trade routes. In the United States, before introducing the federal income tax (1913), the government generated revenue primarily through tariffs. The role of tariffs is widely...

After astounding achievements like performing seemingly-crazy and impossible feats of rocket engineering, making satellite internet service practical, rescuing social media from covert government censorship, and even managing to build battery-powered vehicles that are rather more useful and cool than golf carts, Musk slipped up and committed a colossal blunder recently. He took on an insurmountable challenge that even his extraordinary genius and indomitable will...

After astounding achievements like performing seemingly-crazy and impossible feats of rocket engineering, making satellite internet service practical, rescuing social media from covert government censorship, and even managing to build battery-powered vehicles that are rather more useful and cool than golf carts, Musk slipped up and committed a colossal blunder recently. He took on an insurmountable challenge that even his extraordinary genius and indomitable will...

EUR/CHF mildly falls on Friday as markets digest Eurozone HICP inflation data for November.  The Euro weakens as it does little to change the outlook for interest rates , a key driver of FX valuations.  CHF gains marginally on stronger GDP growth data but hamstrung by comments for the SNB’s President Schlegel.  EUR/CHF edges lower to trade on the 0.9300 handle on Friday after the release of Eurozone inflation data continues to suggest European...

Let me issue and control a nation’s money and I care not who writes the laws.—RothschildThe real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson...—FDRThe American people are suckers for the word “reform.” You just put that into any corrupt piece of legislation, call it “reform” and people say “Oh, I’m all for ‘reform,’” and so they vote for it or accept it.”—G....

A Tyranny for the Good of Its Victims: The Ugly Truth about Stakeholder Capitalism. By Andrew F. Puzder. Encounter Books, 2024; xiii + 335 pp.Andrew Puzder, who is both a leading business executive—he was the CEO of a restaurant chain that owns Carl’s Jr.—and an experienced attorney, tells a dramatic tale. The free market is by far the best economic system and has made possible, since the Industrial Revolution, a historically unprecedented rate of economic growth....

Listen to the Audio Mises Wire version of this article.The Thanksgiving holiday in the United States has a checkered past. Its more recent origins lie largely in government attempts at pushing propagandistic narratives. For example, Abraham Lincoln demanded Americans be thankful for ”the advancing armies and navies of the Union” during the Civil War. George Washington instructed Americans to give thanks for the new constitution in 1789. While Andrew Jackson refused...

Over-55s account for less than 10% of new hires Keystone-SDA Listen to the article Listening the article Toggle language selector...

In the science of human action, the effects of erroneous notions of the market process, most particularly as they pertain to policy-making decisions, are not to be underestimated. The economist can not remain indifferent to these in an era in which the appeals of interventionism and government expansion increasingly hold sway in the domain of public policy. Put differently, we cannot deny how economic and social policies rooted in mistaken views of the market’s...

Jungfrau Railways invests 70 million francs in new cable cars Keystone-SDA Listen to the article Listening the article Toggle language selector...