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Free rider is a term related to the political commons and rent seeking. It is like rent seeking, except it is perhaps more nuanced and eventually discourages the effective use of public goods found in the political commons. When I was a young adult, my wife, Cyndi, and I went out with a group of people. My father warned me that if the group split the bill evenly, we could wind up paying for other people’s dinner. We were pressed for cash, so we ordered frugally. Sure...

Overview: After tumbling headlong this week, the dollar appears to be broadly consolidating ahead of the weekend Among the G10 currencies, the Canadian dollar's 1.2% gain is the least and it made new 10-month highs earlier today The beleaguered Scandis soared The Norwegian krone's 6.6% advance followed by the Swedish krona's 5.8% surge led the major currencies The Dollar Index is off about 2.4% this week ahead of the North American session It is the largest loss...

On this episode of Good Money with Tho Bishop, Dr. Jonathan Newman joins to look at recent headlines on inflation. Tho and Jonathan discuss the larger costs of Fed policy on the real economy and how official government measures can be gamed with techniques such as "shrinkflation." Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code...

On this episode of Radio Rothbard, Tho Bishop is joined by Mises Research Fellow Connor Mortell to talk about Connor's research project on energy policy. Tho and Connor push back against common narratives—even some promoted by libertarians—of fossil fuels and green energy and the necessity of keeping a human focus on energy policy. The Radio Rothbard mug is available in the Mises Store. Get yours at Mises.org/RothMug: PROMO CODE RothPod for 20% off[embedded...

Michael and Walter Block discuss the Ukrainian conflict, reparations, immigration, and the Israel-Palestine conflict. 3. A Chip Off the Old Block Video of 3. A Chip Off the Old Block [embedded content] Tags: Featured,newsletter

There are certain goods and services that egalitarians, as third parties, would prefer that no one enjoys rather than for some to have more than others. (The proviso “as third parties” is necessary since egalitarians will not do without these goods and services themselves, but they still see fit to comment on inequalities from afar.) One of these services is public safety, as shown in a series of articles written by ProPublica reporter Jeremy Kohler complaining about...

How can a bank “create money out of thin air”? We must enter the magical kingdom of “fractional-reserve banking,” where deposits are turned into loans, loans are turned into money, and so on, to find out. Original Article: "Banks Create Money out of Thin Air. What Could Possibly Go Wrong?" [embedded content] Tags:...

Former Mises Institute president Jeff Deist wrote on the concept of “soft secession” in September 2021. The article talks about how left-leaning states have an opportunity to embrace an abundance of progressive policies for their citizens—without leaving an open door for real violence to occur—through the pursuit of soft state secession. Some people in the left-thinking world are starting to get it. This soft secession principle applies to those living in the...

Overview: Softer-than-expected US CPI, following weaker than expected job growth has sent the greenback tumbling. The dollar is stabilizing against the yen today, but the downside momentum is intact against the other major currencies. The euro approached $1.1175, sterling $1.3080, and the greenback slumped to almost CHF0.8615. The Australian dollar reached $0.6850, and the New Zealand dollar tested $0.6360. The Canadian dollar, often a laggard in a weak US dollar...

In recent months, Americans were treated to a particularly cheap political spectacle: negotiations over the debt ceiling. “Extreme right-wing Republicans have hijacked the debt ceiling process,” said Vermont senator Bernie Sanders. “The fight over the debt ceiling could sink the economy,” intoned National Public Radio. Florida representative Matt Gaetz said that when it comes to the debt ceiling, he sees no need to parlay with the Republicans’ “hostage.” The...