Category: Series

On Friday 1st August the US Bureau of Labor Statistics put out their job report data for August. It included revisions to their estimates for the jobs created in May and June which stated there were 258,000 fewer jobs than they had previously estimated. This news was not received well by the White House. President Trump fired the head of the bureau, Erika McEntarfer, calling the numbers ‘phony, rigged, a scam’ and spreading conspiracy theories that McEntarfer had fudged the data. We speak to economist Michael Strain from the American Enterprise Institute, to understand why the revisions happened and the potential consequences of throwing doubt on one of the US’s most important statistical agencies. If you’ve seen a number in the news you think we should take a look at, email the team: moreorless@bbc.co.uk

Presenter: Lizzy McNeill Producer: Lizzy McNeill Series Producer: Tom Colls Production Co-ordinator: Rosie Strawbridge Sound mix: Neil Churchill Editor: Sam Bonham

Before the American Revolution, there were the Levellers, who sought liberty during the English Civil War. While their influence on the American colonists would be indirect, nonetheless, many of their ideas reflected what came after American independence.

Original article: https://mises.org/mises-wire/reintroducing-levellers

In most of the world, inflation is no longer an exception, it is the rule. Official inflation targets of 4 percent, 5 percent, or even 6 percent per year have become normalized.

Original article: https://mises.org/power-market/inflation-design-how-keynesian-dogma-undermines-capitalism

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news.

On today's episode: Palantir crosses a billion dollars in quarterly revenue (what do they actually do again?); mRNA vaccine research gets a big cut in RFK Jr's health department; and a climate disaster database gets a new lease on life.

Related episodes:
How Palantir, the secretive tech company, is rising in the Trump era
An indicator lost: big disaster costs
Moonshot in the arm

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In this week's Friday Philosophy, Dr. David Gordon reviews Profit Without Apology: The Need to Stand Up For Business by Onkar Ghate and Dan Watkins. While praising the effort, he also shares some concerns.

Original article: https://mises.org/friday-philosophy/we-should-not-apologize-businesses-being-profitable

In examining the Austrian Regression Theorem of Money, Joshua Mawhorter takes on the Chartalist/MMT claim that government gives money its value. The Chartalist/MMT advocates lack a necessary cause-and-effect mechanism to prove their claims.

Original article: https://mises.org/mises-wire/last-day-barter-and-questions-first-day-chartalism

Last week, President Trump ramped up pressure on two favorite targets: elite universities and Fed Chair Jerome Powell. In the “War on Woke U,” the administration landed a $50 million settlement from Brown—the third Ivy to cut a deal—and added Duke and UCLA to the hit list with new civil rights probes and a funding cutoff. Meanwhile, after the Fed held rates steady, Trump escalated his campaign to oust Powell, denouncing him as a “stubborn MORON” on Truth Social.

In this episode, Cato scholars break down the Art of the Forcible Deal. What risks do Trump’s pressure tactics pose for monetary stability? Will they reform broken institutions—or just deepen their politicization? And is Trump’s strongarm approach an aberration, or a preview of the modern presidency’s future?

Featuring Gene Healy, Ryan Bourne, Emily Ekins, and Jeffrey Miron

Show Notes:

• David Beckworth, “The Consolidated Government Budget Constraint Does Not Care About Your Fed Independence Feelings,” Substack (July 25, 2025)
• Ryan Bourne, “A Case for Federal Deficit Reduction,” Cato Policy Analysis no. 973 (April 18, 2024)
• Michael Chapman, “A Win for Liberty: Congress Defunds CPB, NPR, and PBS,” Cato@Liberty (July 23, 2025)
• Jeffrey A. Miron and Jacob P. Winter, “Giving Up Federal Funds Would Do Harvard Good,” Harvard Crimson (April 30, 2025)
• Norbert Michel and Jai Kedia, “A Check-In on the Fed: Why Politically Motivated Monetary Policy Is Dangerous and Counterproductive,” Cato Video (July 22, 2025)

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How did Europe move from a collection of impoverished city states and kingdoms to a prosperous state of affairs? Europeans learned the value of contracts, private property, and the limited power of the state, and in turn, they flourished.

Original article: https://mises.org/mises-wire/european-miracle-how-contractual-politics-and-divided-power-gave-birth-western-prosperity