What are interest rates, where do they come from, and what purpose do they serve? Economist Jeffrey Herbener explains why Turgot, Böhm-Bawerk, and Mises got it right.
Humans use action to attain certain ends. But they must choose what actions to take. And choice also requires judgment about the best way to achieve the preferred ends.
Before wealth can be redistributed by the state, it must first be produced. But welfare-state policies end up destroying the very wealth which is necessary for redistribution.
Existing political tensions within the EU are certain to escalate as the EU falls behind in global economic power, and Brussels, hooked on profligacy, for the first time faces budget cuts.
In February, year-over-year growth in the money supply was at 3.1 percent. That was down from January's growth rate of 3.3 percent, but was up from February 2018's rate of 3.0 percent.
