Archive for February, 2011

Renaissance Commerce and Culture

Monday, February 28th, 2011 by posted in Capitalism, History.

I am just back from Italy (which is why I have not been blogging regularly of late), where I was scouting for a study tour that I will be leading in May. The theme of the tour will be Renaissance Commerce and

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Capitalism, Happiness, and Beauty

Monday, February 28th, 2011 by posted in Capitalism, Economics, Philosophy, Politics.
confessions_shopaholic

The following was excerpted from The Anti-Capitalistic Mentality Critics level two charges against capitalism: First, they say, that the possession of a motor car, a television set, and a refrigera­tor does not make a man happy. Secondly, they add that

755 comments

Action Aversion

Friday, February 25th, 2011 by posted in Economics, Epistemology.
IMG_3145

If I just straight out told you that there is a model within the conventional economic theory that implies most of us would prefer a world in which we would not be acting humans, you would probably tell me that

536 comments

Why gold and oil sold off yesterday

Friday, February 25th, 2011 by posted in Economics, Uncategorized.

Please, click here to read this article in pdf format: february-25-2011 It’s the end of the month and the animal spirits nervously want to take profits on a good February. Before we start today’s letter, we want to clarify our

1,111 comments

The Practical Science of Austrian Economics

Thursday, February 24th, 2011 by posted in Capitalism, Economics, Education, History.
35183_dilorenzo_thomas

The Austrian Economics Newsletter – An Interview with Thomas J. DiLorenzo Winter 1999 Volume 19, Number 4 AEN: Your recent book, The Food and Drink Police, is quite timely. DILORENZO: We’ve seen an explosion of litigation designed to destroy whole

844 comments

Competing Currencies: The Gold Standard of Monetary Systems

Wednesday, February 23rd, 2011 by posted in Capitalism, Economics, History.
Could this be your future currency of choice?

Discussions regarding monetary policy and currencies in particular will often include some talk of abandoning fiat currencies in favour of commodity backed units of wealth.  While the defunct Confederate States of America attempted to back their confederate currency with cotton

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Corporatism, Then and Now

Tuesday, February 22nd, 2011 by posted in Capitalism, Economics, History, Politics, Socialism.
Bernanke-300x300

I’ve just finished reading “The Myth of the New Deal” by Ronald Radosh. This essay appears in A New History of Leviathan, a collection of essays edited by Murray Rothbard and Ronald Radosh. It is free to download from Mises.org.

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Margaret Thatcher on Inequality

Monday, February 21st, 2011 by posted in Capitalism, History, Politics, Socialism.

With all of this talk of the Gini coefficient and inequality, I think we should turn to the Iron Lady herself, Margaret Thatcher. I think she puts all of this into the proper perspective. [youtube_sc url=”http://www.youtube.com/watch?v=okHGCz6xxiw” /] Redmond is the

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Three macro themes

Monday, February 21st, 2011 by posted in Economics.

Please, click here to read this article in pdf format: february-22-2011 During the last two weeks, we think that three self-evident macro-themes began to develop. We can even venture to add that these themes may stay with us longer than

448 comments

Increasing Public Sector Not a Good Way to Reduce Inequality

Saturday, February 19th, 2011 by posted in Capitalism, Economics, Politics.

Anyone with even the slightest familiarity of contemporary political life recognizes that the distinguishing feature of left-of-centre parties is their overriding commitment to the reduction of inequality. It is because they want to realize this goal that they generally support

225 comments

Some Thoughts on the Rich

Friday, February 18th, 2011 by posted in Capitalism, Economics, Socialism.

I read Pierre-Guy’s Mises Daily article, “The Curse of Being Rich“, and would like to point out some of my own thoughts on the matter. If one looks at the list of top ten earning Canadian CEOs, which is provided

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The Price of Arrogance

Friday, February 18th, 2011 by posted in Economics, Education, Philosophy.
The-Price-of-Arrogance-Picture

The ongoing economic crisis has stirred up quite bit of debate among economists. In addition, it seems that the current students as well as the lay public show significant interest in the subject. One just needs to visit blogs of

2,255 comments

A Webb of Lies

Friday, February 18th, 2011 by posted in Capitalism, History, Politics, Socialism.
Sidney Webb - Founder of the Fabian Socialists

In The Foundations of Leninism, Stalin declared “For the overthrow of the bourgeoisie, we must have the efforts of the proletarians of several advanced countries.” What he secured instead was the slavish devotion of Western intellectuals who claimed to represent

752 comments

Much Nationalist Ado About Nothing

Thursday, February 17th, 2011 by posted in Capitalism, Economics, Politics.

Another proposed merger is once again sparking nationalist anxieties about the supposed hollowing out of Canadian business. Several months ago, it was the prospect of Potash being taken over by BHP Billiton. Now it’s a potential merger between the London

69 comments

The Curse of Being Rich

Thursday, February 17th, 2011 by posted in Capitalism, Economics, Socialism.
Rich_Double_Entendre

The times never change for people who want more government intervention in the economy. The Canadian Centre for Policy Alternatives (CCPA) has published a report[ref]http://www.policyalternatives.ca/sites/default/files/uploads/publications/National%20Office/2011/01/Recession%20Proof.pdf[/ref]denouncing –yet again– that CEOs are making a lot. The report says that the latter are

787 comments

The Death of Reaganomics (Keynesian Redux)

Wednesday, February 16th, 2011 by posted in Capitalism, Economics, History, Politics, Socialism.
Reagan+VonHayek2

One of the ironic but unfortunately enduring legacies of eight years of Reaganism has been the resurrection of Keynesianism. From the late 1930s until the early 1970s, Keynesianism rode high in the economics profession and in the corridors of power

418 comments

The way out

Wednesday, February 16th, 2011 by posted in Economics.

Please, click here to read this article in pdf format: february-16-2011 Perhaps the most relevant factor shaping the action this week is the absence of a significant, market moving event. Investors seem to just be marking time. Every major decision

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Canadian Energy Company Sues Americans for Eminent Domain

Tuesday, February 15th, 2011 by posted in Law, Socialism, Trade.

The Canadian TransCanada Corp. is presently seeking to construct and begin operation of the Keystone XL pipeline. This 3,000 km long project will bring approximately 700,000 barrels of Alberta tar sands crude oil through the United States to refineries in

819 comments

GDP and the Proper Way to “Measure” an Economy

Tuesday, February 15th, 2011 by posted in Economics, Politics.
YardStick

You know, there’s a joke which goes something like: “teach a parrot to say supply and demand and you have an economist.” I think it should be changed to: “teach a parrot to say GDP and you have a sophisticated

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Economic Calculation: Chapter 5

Monday, February 14th, 2011 by posted in Economics.
Soviet Era Bread Line

5. The Most Recent Socialist Doctrines and the Problem of Economic Calculation Since recent events helped socialist parties to obtain power in Russia, Hungary, Germany and Austria, and have thus made the execution of a socialist nationalization program a topical

946 comments