The Austrian theory of the trade cycle explains why the Fed's below-market interest rates invariably lead to a correction known as the bust. The theory is not new. Why has it been so out of favor with most economists?

By eliminating the analytical straightjacket imposed by neoclassical economics, economists could have a lot more to offer about how to improve the world. They would start thinking about changing preferences, not just incentives.

It is widely reported that yesterday EU member states, the European Commission and MEPs reached an "agreement in principle" on the creation of three new EU financial supervisors and a Systemic Risk Board. Belgian Finance Minister Didier Reynders, who negotiated on behalf of member states, described the agreement as "maybe the most important decision" the EU has taken in response to the financial crisis.

Regarding the media frenzy about the "Ground-Zero Mosque," Ryan Long asks: if the land surrounding the World Trade Center is so sacrosanct for some Americans, why haven't they purchased it themselves?

Rothbard shows that Gresham's law was introduced not by Sir Thomas Gresham but by the "arrogant, boorish, and feisty" Sir Thomas Smith the Elder (1513–1577), a bitter critic of debasement who was exiled from the court in 1549. He fought back with a book.