Central Banks are Not Innocent Bystanders
The Economist recently opined that interest rates don't affect investment. This claim is based on an empirical study that contradicts what we already know: that lower prices lead to more demand. In the end, the problem lies with the researches who fail to account for the behavior of central bankers.
Middle-of-the-Road Policy: Lessons from Argentina and Venezuela
Ludwig von Mises held that middle-of-the-road policy in economic interventionism eventually leads to widespread socialism.
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