Macroeconomics

According to the popular way of thinking, our knowledge of the economy is elusive. Consequently, the best that we can do is to attempt...

The Cato Institute’s mission is to originate, disseminate, and advance solutions based on the principles of individual liberty, limited government, free markets, and peace. Within the Center...

The action axiom is the starting point of Mises’s economic method (praxeology). But it is far more than a place to start. It solves...

Economics is about human action and choice within the context of scarcity. The problem facing economists is how to understand and explain human betterment,...

A little over one hundred years ago, the Austrian economist Ludwig von Mises started arguing that a socialist economy is impossible. In the turbulent...

After more than a decade of subdued consumer price inflation despite gigantic monetary and fiscal stimuli, last year’s surge in consumer prices took most...