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China’s Unsustainable Growth

Friday, January 23rd, 2015 by posted in Banking, Capitalism, Economics.
central-bank-china-1

In November 2014, China’s central bank declared it will lower the interest by 0.4%. The modification is not large enough to imply a change of policy direction, however; it is still an effort to sour on the financial market and

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A Primer on Jobs and the Jobless

Thursday, January 22nd, 2015 by posted in Capitalism, Economics.
jobs

Reprinted from Mises.org With the economics of employment and unemployment constantly discussed on the business pages and political campaigns, let us turn our attention toward fundamentals and root out some fallacies. If the media tell us that “the opening of

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The Rise of Capitalism

Wednesday, January 21st, 2015 by posted in Capitalism, Economics, History.
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This article is excerpted from Liberty & Property, part 2 (2009). Reprinted from Mises.org The precapitalistic system of product was restrictive. Its historical basis was military conquest. The victorious kings had given the land to their paladins. These aristocrats were

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What Price a Planned Economy? Part 2

Monday, January 19th, 2015 by posted in Capitalism, Economics, Law.
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Originally published in Contemporary Review of London, April 1938. Reprinted from Mises.org IV But if democracy had to abdicate only from the control of economic life, this might still be regarded as a minor evil compared with the advantages expected from

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The (Austrian) Economics of Gifts

Friday, January 16th, 2015 by posted in Capitalism, Economics.
gift

Gift-giving is a strange custom to most economists. A common observation is that, as people are generally better informed about their own tastes than others are, the most efficient gift is simply cash. But if people all gave cash, the

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What Price a Planned Economy? Part 1

Thursday, January 15th, 2015 by posted in Capitalism, Economics, Law.
painting1

Originally published in Contemporary Review of London, April 1938. Reprinted from Mises.org The link between classical liberalism and present-day Socialism — often still misnamed liberalism — is undoubtedly the belief that the consummation of individual freedom requires relief from the

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Take Back the Word “Liberal”

Wednesday, January 14th, 2015 by posted in Capitalism, Economics, Law, Philosophy.
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Reprinted from The Freeman For 2015, I would like to pick up an old campaign to take back the word “liberal” for the cause of human liberty. Or perhaps that’s too ambitious. Perhaps it is enough for each of us

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The worst that can happen to you for committing a nonviolent marijuana crime, around the World

Tuesday, January 13th, 2015 by posted in Capitalism, Civil Liberties, Education, Law, Lifestyle, War on Drugs.
Marijuana map

Everyone knows different countries treat drugs differently. For example, if you get caught buying or selling a large amount of marijuana in Canada, you’re probably not going to get your head chopped off by the government–but in Saudi Arabia, that is the law.

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How Reducing GDP Increases Economic Growth

Monday, January 12th, 2015 by posted in Capitalism, Economics, Politics, Regulation.
dollars-and-quarters_teaser

Reprinted from Mises.org Recently, the Financial Times published an article containing charts displaying the correlation between government spending and real GDP growth.1 Based on these correlations, the author of the article, Matthew Klein, comments: “It’s no secret that spending cuts

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The Myth of Fed Independence

Friday, January 9th, 2015 by posted in Banking, Capitalism, Economics.
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Excerpted from The Case Against The Fed. Reprinted from Mises.org By far the most secret and least accountable operation of the federal government is not, as one might expect, the CIA, DIA, or some other super-secret intelligence agency. The CIA

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Uber and Basic Economics

Thursday, January 8th, 2015 by posted in Capitalism, Economics.
UberPitch

Last year, the car-sharing service Uber had the privilege of being a prime target of the capitalist-loathing left. Not only did the company challenge traditional barriers to entry established by government-friendly cartels, but it earned the distrust of the mainstream

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The Price Transparency Act Gets Economics Wrong

Wednesday, January 7th, 2015 by posted in Capitalism, Economics.
price-tag

Canadians are accustomed to paying higher prices than our southern neighbours for a wide range of consumer goods: from books, to dairy products, to cars. The Canadian government recently introduced the price transparency act, a piece of legislation that would

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The Need for General Rules

Wednesday, January 7th, 2015 by posted in Capitalism, History, Law.
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Excerpted from The Foundations of Morality by Henry Hazlitt. Reprinted from Mises.org 1. The Contribution of Hume David Hume, probably the greatest of British philosophers, made three major contributions to ethics. The first was the naming and consistent application of

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The Market’s Gift: Low Clothing Prices

Tuesday, January 6th, 2015 by posted in Capitalism, Economics.
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Reprinted from The Freeman Over the holiday season, I have been out and about, looking at shoes, coats, suits, ties, and so on. The range of prices, from super low to super high, is remarkable. And not just for men’s

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Currency Wars

Monday, January 5th, 2015 by posted in Banking, Capitalism, Economics.
currency_wars_teaser

The current Japanese monetary printing orgy and European Central Bank threats of massive QE are both aimed at primarily boosting exports to kick start their moribund economies. The yen has dropped nearly 12% against the dollar since the Japanese announcement

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Oil’s Swoon Undoes the Fed

Friday, January 2nd, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from Casey Research While we’re taught in school and reminded by many that central banks are in the inflation-fighting business, history proves the opposite. Economist Murray Rothbard compared central bankers who talked about suppressing inflation to arsonists who would

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Epic Fail: 100 Years of the Fed

Thursday, January 1st, 2015 by posted in Banking, Capitalism, Economics.
Federal Reserve teaser

Reprinted from The Freeman The most surprising monetary innovation of our time is bitcoin, a privately produced digital currency and payment system. It is a global system that provides a dramatic alternative to central banking and monetary nationalism as we

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Centralization Fails in the Private Sector Too

Wednesday, December 31st, 2014 by posted in Capitalism, Economics.
BN-closed

Proponents of limited government have long recognized the dangers of excessive centralization. When an entity becomes large and many diverse parts are bound by a single nexus of control, it loses flexibility, adaptability, and humanity. This is true of government,

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Jean-Serge Brisson vs. Canada’s Tax Collectors: A Modern Day Story of David vs. Goliath

Wednesday, December 31st, 2014 by posted in Capitalism, Economics, Regulation.
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“Thus David triumphed over the Philistine with a sling and a stone; he hit the Philistine and killed him, though he had no sword in his hand.”  – 1 Samuel Chapter 17. Imagine a small businessman standing up to the

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Government Save Us From “Overpriced” Chinese Food

Tuesday, December 30th, 2014 by posted in Capitalism, Economics.
chinese_food_teaser

Reprinted from Mises.org This week’s internet-fueled Outrage of the Week is the case of Harvard attorney Ben Edelman who has insisted on “notifying the authorities” to punish a small restaurant for “overcharging” the professor to the tune of four dollars. Boston.com reported on the case,

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