Archive for April, 2011

Does Ayn Rand and her Objectivist philosophy support Austrian economics, libertarianism and Anarcho-capitalism? NO!

In response to an earlier post, Redmond wrote: Say what you will about Rand – many people who I have met who are interested in the Austrian School came to it through Ayn Rand. And they are young enough that


The Napster Experiment

Tuesday, April 26th, 2011 by posted in Economics, Intellectual Property, Law.

There is  a debate among libertarians as to whether claims to intellectual property rights ought to be maintained. A key argument made by those in favor of such rights is that they are necessary to encourage the production of  scientific


The Unbearable Lightness of Occupational Regulation

Tuesday, April 26th, 2011 by posted in Capitalism, Economics, History, Law, Regulation.

During the past one hundred years, a myriad of occupations have become regulated by the state. In your city it is very likely that barbers need to be registered or licensed by government bureaucrats before they are legally entitled to

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The Sociology of the Ayn Rand Cult

Tuesday, April 26th, 2011 by posted in Capitalism, Economics, Education.

With the recent release of part one in the movie trilogy of Ayn Rand’s novel Atlas Shrugged, it is worth re-reading Murray Rothbard’s unforgettable essay which once and for all revealed Rand as the kook she was. “Written in 1972, this was

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Fukuyama on the Origins of the State

Monday, April 25th, 2011 by posted in Economics, History, Politics.

Agree or disagree with Francis Fukuyama’s famous thesis that we’ve reached the end of history with liberal democracy, his books always make for stimulating and instructive reading. One hears a lot of talk in academic circles these days about the


Why Marx was wrong…

Monday, April 25th, 2011 by posted in Capitalism, Civil Liberties, Economics, Socialism.

A few interesting pieces today A review in the Libertarian Papers of Eagletons tour de farce Why Marx Was Right. Of course from an Austrian perspective Eagleton completely ignores the fundamental failing of Marxism, Socialism, Communism – the inability

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WSJ on the Mark about Dollar Flood

Thursday, April 21st, 2011 by posted in Economics, Politics.

The Wall Street Journal’s editorial page is usually a font of wisdom. Its editorial today, “Fleeing the Dollar Flood“, lives up to that record. The WSJ editors masterfully lay out the case that escalating food prices around the world, and

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Who Really Pays the Corporate Tax?

Thursday, April 21st, 2011 by posted in Economics, Politics.

Corporate taxes have emerged as the main dividing issue in the federal election. Conservatives want to maintain the scheduled reductions in the tax. Liberals want to reverse those and raise the tax to pay for $8.5 billion in new programs.

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An Unconstitutional Deficit?


Times are hard in the US. The federal deficit is now over a trillion (one thousand billion) dollars[ref][/ref]. In order to fill up this bottomless pit, a dozen Republican senators have put forward an audacious proposal. They want to amend

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What You Should Know About Inflation

Wednesday, April 20th, 2011 by posted in Capitalism, Economics, Education, History.

Excerpted from What You Should Know About Inflation, Published in 1964 What Inflation Is No subject is so much discussed today — or so little understood — as inflation. The politicians in Washington talk of it as if it were


The Trouble with Prosperity

Tuesday, April 19th, 2011 by posted in Capitalism, Economics, History.

An Interview with James Grant, editor of Grant’s Interest Rate Observer AEN: Your argument about business cycles in The Trouble with Prosperity rests heavily on the work of the Austrian economist Wilhelm Röpke instead of the more well-known Austrians. GRANT:


So It Begins

Monday, April 18th, 2011 by posted in Economics.

This morning, Standard and Poors (S&P) lowered its outlook on US long term debt. American treasury securities currently have a triple A rating, the highest possible. The first thing that needs to be said about this is:  it’s about time. America’s


Who Captures Whom? The Case of Regulation

Monday, April 18th, 2011 by posted in Capitalism, Economics, Regulation.

Originally published Thursday, September 28, 2006, on Last month, republished a first-rate article written by Gary North in 1978 titled “Walking into a Trap.” To the best of my knowledge, this was the first time anyone had provided


Confirming our previous call

Monday, April 18th, 2011 by posted in Economics.

Please, click here to read this article in pdf format: april-18-2011 Two weeks ago, we called our readers’ collective attention towards gold, noting that: “… we think higher highs are soon to come…”. A week ago, we expressed our concern


The Ontario Court Marijuana Decision

Saturday, April 16th, 2011 by posted in Civil Liberties, Law, Politics, War on Drugs.

Opponents of laws criminalizing marijuana use received a seemingly great piece of news this week. A ruling by the Ontario Superior Court declared unconstitutional provisions of the Controlled Drug and Substance Act that prohibit the possession and production of marijuana.  A closer look at

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Gold and US dollar Still Proving Austrians right

Friday, April 15th, 2011 by posted in Economics.

Despite the many skeptics, the gold market keeps on making new highs (see chart below) . Earlier today, it hit US $1487 per ounce. As we have mentioned on several occasions here, this price move is exactly what Austrian theory would expect,


Mises: Defender of Freedom

Wednesday, April 13th, 2011 by posted in Capitalism, Education, History.

Today, September 29, 2006 is the one-hundred-and-twenty-fifth anniversary of the birth of Ludwig von Mises, economist and social philosopher, who passed away in 1973. Mises was my teacher and mentor and the source or inspiration for most of what I


Mises in Brazil

Tuesday, April 12th, 2011 by posted in Uncategorized.

I’ve just stumbled upon, more or less by accident, this set of videos from the Mises Institute in Brazil. Speakers include Tom Woods Jr., Lew Rockwell, Patri Friedman, and David Friedman among others. I haven’t seen these vidoes any where

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Putting His Money Where His Mouth Is

Tuesday, April 12th, 2011 by posted in Economics.

More often than is generally realized, the assessments offered by pundits about a particular policy, or some element of the current politico-economic situation, can be translated into a money bet. An op-ed columnist, for example, who claims that the government’s failure


The Pied Piper of Hansen

Monday, April 11th, 2011 by posted in Civil Liberties, Environment, Socialism.
James Hansen - Leading the lemmings

Originally posted on Friday, December 11, 2009 at It might take a while to sink in, but the global-warming cause is on the skids. Two issues are taking the whole project down: it is getting cooler not warmer (and