Tag Archives: newsletter

When we read about the US economy, we often get wage growth as a signal of a strong labor market. It is hardly a strong market when the labor participation rate and the employment to population ratio are both below the February 2020 level and have been stagnant for months. Additionally, the headline figure of 4.6 percent annualized wage growth is misleading, as it shows a nominal and average figure that disguises a much tougher environment. According to the Bureau of...

Mises saw essentialist values as fallacies because they were unverifiable and saw metaphysical ideas as a key component of authoritarianism. His solution was utilitarianism. Original Article: "Libertarian Law by Democratic Means: Utilitarianism and the Demythologization of Authority" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

Have you ever thought about the relationship between the words liberty and freedom? Frequently, the words are used interchangeably, but I have always preferred liberty. Perhaps my preference goes back to Thomas Jefferson’s reference to “life, liberty, and the pursuit of happiness” in the Declaration of Independence. Perhaps it traces to Patrick Henry’s “Give me liberty or give me death.” Perhaps it is because “with liberty and justice for all” is “the most important...

How do people in a pluralistic society live peacefully with each other? In his review of Kenneth McIntyre's book, David Gordon points to negative liberty as the best way to preserve values. Original Article: "Nonmeasure for Nonmeasure" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

San Francisco, as well as the government of California, is calling for millions in "reparations" for black people in that state. Reparations, unfortunately, are fast becoming another anti-property-owner racket. Original Article: "Reparations Are a Statist Cudgel for Bludgeoning Property Owners" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

The story of the failure of Silicon Valley Bank is the story of nearly every bank failure. Fractional reserve banking invites the risky behavior that brings down the banking system. Original Article: "Silicon Valley Bank and the Failure of Fractional Reserve Banking" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

Swiss National Bank tightens monetary policy further and raises SNB policy rate to 1.5% The SNB is tightening its monetary policy further and is raising the SNB policy rate by 0.5 percentage points to 1.5%. In doing so, it is countering the renewed increase in inflationary pressure. It cannot be ruled out that additional rises in the SNB policy rate will be necessary to ensure price stability over the medium term. To provide appropriate monetary conditions, the SNB...

The pro-life activist Randall Terry has a famous quote that anyone who cares about politics should be familiar with: “He who frames the question wins the debate.” Politicians are well aware of this fact, which is why they spend much of their time directing the political conversation into frameworks that benefit them. If they can get us arguing over how best to “reform” the education system, for instance, there will be little discussion about the bigger question of...

Overview:  The dollar remains under pressure following the Federal Reserve's rate hike. The market thinks it heard that the Fed was done hiking, even though Fed Chair Powell held out the possibility that "some additional firming may be necessary."  The Norwegian krone is the strongest of the G10 currencies today, up more than 1%, spurred by a 25 bp hike and a commitment to do more. The Dollar Index briefly traded below 102.00 for the first time since February 3. A...

Ever since the Luddites rampaged through British textile factories in the early 1800s, people have feared that technology will result in mass unemployment. They were wrong then and are wrong now. Original Article: "The Fear of Mass Unemployment Due to Artificial Intelligence and Robotics Is Unfounded" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...