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Legal Victory for the IRS

Friday, October 24th, 2014 by posted in Capitalism, Economics.

With the IRS scandals of early 2014 all but a distant memory, some closure is coming to the groups that the long arm of the tax law harassed. Unfortunately the verdicts aren´t going the way the affected would like. The

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There Was No Contagion

Thursday, October 23rd, 2014 by posted in Banking, Capitalism, Economics.

If you use the word “contagion” these days, people are likely to think you’re talking about ebola. Backup five years ago, and contagion was the buzzword to describe the financial crisis. The European government bond market was falling apart, and

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Defending the Gypsy Cab Driver

Thursday, October 23rd, 2014 by posted in Capitalism, Economics.

[Excerpted from Defending the Undefendable.] The taxi business in the United States usually works to the detriment of the poor and minority groups in two ways — as consumers and as producers. As consumers, their plight is well demonstrated by

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Abolish Antitrust Laws

Wednesday, October 22nd, 2014 by posted in Capitalism, Economics.

[This essay is excerpted from chapter 3 of Murray N. Rothbard's Power and Market: Government and Economy.] It may seem strange to the reader that one of the most important governmental checks on efficient competition, and therefore grants of quasi

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Disney World and the Real Fantasies of Our Time

Tuesday, October 21st, 2014 by posted in Capitalism, Economics.

Reprinted from My visit to Disney World overwhelmed me with the incredible achievement of this private-property paradise. It only takes one visit to dismiss all the dismissiveness. Despite what you hear, it is not about decadent and superficial consumerism.

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The Misguided Push for STEM

Monday, October 20th, 2014 by posted in Capitalism, Economics, Education.

The higher education system is a mess, and it seems the more we try to fix it, the worse it becomes. With a parade of unflattering test score comparisons constantly being trotted out, widespread unemployment, and a mismatch of skills

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Occupational Licensure Strikes Again

Friday, October 17th, 2014 by posted in Capitalism, Economics.

It’s that time of year again: the time where I go on and on about a subject nobody but me cares about. That’s right, it’s occupational licensure! This is a subject that does not get nearly enough attention from the

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The IMF and Austrian Theory

Friday, October 17th, 2014 by posted in Banking, Capitalism, Economics.
IMF Greece Financial Crisis

Back in the early 1960s, financial journalist Henry Hazlitt warned against efforts to create an international system to help facilitate the smooth transfer of currencies. Representatives from the world’s leading governments were attempting to increase liquidity in global markets. They

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The Nature and Origin of Money

Wednesday, October 15th, 2014 by posted in Capitalism, Economics.

An excerpt from Principles of Economics [online text], Chapter VIII, 1871. Reprinted from IN THE EARLY STAGES of trade, when economizing individuals are only slowly awakening to knowledge of the economic gains that can be derived from exploitation of existing

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On Quacks, Frauds, and Scam Artists

Tuesday, October 14th, 2014 by posted in Capitalism, Health Care.

For some time now, the scientific community has had its eye on taking down popular television host and alleged physician, Dr. Oz. Notorious for being a publicity grabber and pushing cures on his fawning audience that are dubious at best,

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Inflation Destroys Savings

Monday, October 13th, 2014 by posted in Banking, Capitalism, Economics.

[Excerpted from Ludwig von Mises on Money and Inflation: A Synthesis of Several Lectures, compiled by Bettina Bien Greaves. This lecture was given at the Foundation for Economic Education (FEE).] Reprinted from Everything that is done by a government

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A Sensible Central Banker?

Saturday, October 11th, 2014 by posted in Banking, Capitalism, Economics.

With all the lunacy coming from the world’s central bankers since, well, ever, it’s refreshing to hear something (anything!) sensible coming from one of them finally. Bank of Canada Governor Stephen Poloz’s recent announcement that the BoC would stop using

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Autonomy: The Self-Driving Car

Friday, October 10th, 2014 by posted in Capitalism, Economics.
audi_self teaser

Audi announced recently that it has become the first automaker to receive approval to test its self-driving cars on California’s public roads.  Autonomy (both technical and political) is about to shift into high gear. We could be forgiven for thinking


Hayek: The Knowledge Problem

Thursday, October 9th, 2014 by posted in Capitalism, Economics.

Reprinted from the Freeman F.A. Hayek is an epic figure in the history of human freedom. He stood for liberty at a time when most intellectuals in the world embraced ideologies of command and control. His literary legacy continues to

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Venezuela’s Biggest Shortage

Wednesday, October 8th, 2014 by posted in Capitalism, Civil Liberties, Economics, Regulation.

Venezuela’s socialist government has beset the population with all sorts of terrible travesties, from high inflation to shortages of toilet paper. Now the country’s poor citizens have one more shortage to grapple with: breast implants. Apparently the country’s restrictive currency

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Engineers and Planners

Wednesday, October 8th, 2014 by posted in Capitalism, Economics, Regulation, Socialism.

[This article is excerpted from The Counter-Revolution of Science, pp. 94–102.] Reprinted from The Engineer The ideal of conscious control of social phenomena has made its greatest influence felt in the economic field. The present popularity of “economic planning”

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The Power of the State vs. the Power of Love

Tuesday, October 7th, 2014 by posted in Capitalism, Economics.

Reprinted from The Beacon For thousands of years, philosophers have argued that society must invest great power in the rulers because only great power can hold back the forces of evil—violence, plunder, and disorder. They have often conceded, of course,

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Monetary One World Order

Monday, October 6th, 2014 by posted in Banking, Capitalism, Economics.

Reprinted from Casey Research When you mumbled the Pledge of Allegiance in grade school, you likely didn’t think you’d grow up to be taxed to death and a pawn in central-banker economic chess games. If you’re old enough, the dimes

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The Truth of the Decreasing Labor Participation Rate

Friday, October 3rd, 2014 by posted in Capitalism, Economics.

Every once in a while an article comes along that is so misleading it just begs for an answer. This recent piece in Forbes is one such article. The basic claim the author and his interviewee make is that the Obama

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Learning the Virtue of Capital Accumulation

Wednesday, October 1st, 2014 by posted in Capitalism, Economics.

In the American slapstick classic Monkey Business, Groucho Marx retorted, “Oh, I know it’s a penny here and a penny there, but look at me. I worked myself up from nothing to a state of extreme poverty.” Marx was no