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The Misery Index

Friday, February 21st, 2014 by posted in Capitalism, Economics.
homelessness teaser

Arthur Okun developed the “misery index” as an economic indicator to proxy the welfare of a country. By adding the unemployment and inflation rates, the index is an indicator of the hardship caused by a lack of jobs coupled with

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Episode 40: Mark Thornton – Currency Wars, Depreciation, and Gold/Silver

Thursday, February 20th, 2014 by posted in Banking, Capitalism, Economics.
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Make sure you catch Director of Mises Canada Redmond Weissenberger’s daily podcast “Better Red than Dead.” The latest episode features Mark Thornton, a senior resident fellow at the Ludwig von Mises Institute in Auburn, Alabama and the book review editor for

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My letter to the NY Times re: Fuel Economy Economic Nonsense

Thursday, February 20th, 2014 by posted in Capitalism, Economics, Regulation.

Re: Obama Orders New Efficiency for Big Trucks Dear Sirs: President Obama needs a lesson in Econ 101.  Requiring that business meet a new fuel economy standard in order to achieve some environmental goal, no matter how discredited the theory,

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My letter to the NY Times re: A tale of two banking models

Thursday, February 20th, 2014 by posted in Banking, Capitalism, Economics, Regulation.

Re:  Fed Closes a Loophole for Banks Overseas Re: Lending Where Banks Can’t: Blackstone Thrives in Ireland Dear Sirs: These two articles appeared on the front page of your Business Day section on Wednesday, February 19, 2014.  Nothing could more completely

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Martha Hall Findlay, Supply Management: Past its Expiration Date!

Thursday, February 20th, 2014 by posted in Capitalism, Economics.
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Reprinted from the Frontier Centre for Public Policy Frontier Centre: What is Supply Management? Martha Hall Findlay: It’s the system of protection of dairy, poultry and eggs in Canada that allows the industry to set prices based on the cost of

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Marx Was Right: Five Ways Karl Marx Predicted 2014 – Rebutted!

Wednesday, February 19th, 2014 by posted in Capitalism.
Marx Was Right: Five Ways Karl Marx Predicted 2014 – Rebutted!

Stefan Molyneux responds to the recent article “Marx Was Right: Five Surprising Ways Karl Marx Predicted 2014″ by Sean Mcelwee from Rolling Stone.

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My letter to the NY Times re: The Fallacy of Planning–set Detroit free

Wednesday, February 19th, 2014 by posted in Capitalism, Civil Liberties, Economics, Politics, Regulation.

Re: A Picture of Detroit in Ruin Dear Sirs: Detroit does not need another worthless plan in order to deal with its problems.  To what end will a “blight plan” be put?  This is the question that should have been asked

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China’s Dollar Trap

Wednesday, February 19th, 2014 by posted in Capitalism, Economics, Foreign Policy, Politics.

Re: China Digs Itself Deeper into Dollar Trap This short Bloomberg article is written from a Chinese point of view; i.e., that China finds itself in a trap having sold over a trillion dollars in goods in exchange for what

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Capitalism and Fast Food: Delicious Bedfellows

Tuesday, February 18th, 2014 by posted in Capitalism, Regulation.
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The World Health Organization has released a lovely little report on the effects of economic deregulation on the consumption of fast food and the average Body Mass Index (BMI) of citizens. To the surprise of no one, the nutrition police

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Choice in Currency: A Way to Stop Inflation

Monday, February 17th, 2014 by posted in Banking, Capitalism, Economics.
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[Based on an Address entitled ‘International Money’ delivered to the Geneva Gold and Monetary Conference on 25 September, 1975, at Lausanne, Switzerland. IEA 1976; Mises institute/IEA 2009] Preface The Occasional Papers are intended to make essays or addresses, of outstanding importance, accessible

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My letter to Nat’l Review Magazine re: Mr. Beckworth’s wrong prescription for monetary stability

Sunday, February 16th, 2014 by posted in Capitalism, Economics, Politics.

Re: David Beckworth’s review of Money, Gold, and History by Lewis E. Lehrman   Dear Sirs: Austrian School economists recommend monetary freedom, not any specific state-supported money.  End legal tender laws and the most marketable commodities will be chosen as mediums

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The real cause of sub prime lending

Saturday, February 15th, 2014 by posted in Banking, Capitalism, Economics.

Re: Wells returns to sub prime lending The author blames the banks, as if for some unknown reason bankers simply choose to expand lending to sub prime borrowers.  But the real source is the Fed’s artificial lowering of the interest

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Anti-Sweatshop Activists and the Crony Capitalists Who Love Them

Friday, February 14th, 2014 by posted in Capitalism, Economics.
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Reprinted from PanAm Post There is an old saying that opposites attract. Bruce Yandle refashioned this idea into an economic theory that explains why special interest groups with seemingly antagonistic missions so often find common cause in regulatory crusades. Yandle uses the analogy of

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What’s the Big Deal with High-Frequency Trading?

Thursday, February 13th, 2014 by posted in Banking, Capitalism, Economics.
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One of the fundamental laws of economics is that prices display information. When goods and services are sold, the price reflects the intersection of supply and demand. As Ludwig von Mises showed in his groundbreaking article “Economic Calculation in the

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First step in raiding Europe’s private savings

Thursday, February 13th, 2014 by posted in Capitalism, Civil Liberties, Economics, Law, Politics.

From today’s Open Europe news summary: According to a leaked document, seen by Reuters, the European Commission is probing ways to unlock the investment potential of EU citizens’ savings to boost the economy. The Commission will also ask the European

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Just one example why printing money is irresistible

Thursday, February 13th, 2014 by posted in Capitalism, Economics, Politics.

From today’s Air Force Magazine online: Congress Restores COLA Increases   The Senate voted 95-3 on Wednesday to restore full cost-of-living pension increases for working-age military retirees. The vote comes one day after the House approved the measure with a

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Turning Their Backs on Sweden’s Welfare State

Wednesday, February 12th, 2014 by posted in Capitalism, History, Regulation.
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Reprinted from Circle Bastiat As noted by e.g. Reason.com, Yahoo! News recently reportedthat Swedes are increasingly turning their backs on their globally lauded utopian welfare state. While very little known, Sweden’s welfare state “worked” through the early 1970s thanks to deliberately preserving

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Requiem for a Bernank

Tuesday, February 11th, 2014 by posted in Banking, Capitalism, Economics.
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Ben Bernanke´s tenure as, arguably, the most powerful man in the world came to an end on 3 February, 2014. For the past eight years, “the Bernank” as he affectionately came to be called, steered the world´s largest economy through

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NASA, the Aerospace Welfare Queen

Monday, February 10th, 2014 by posted in Capitalism, Economics, Regulation, Socialism.
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Reprinted from Strike-the-Root.com The National Aeronautics and Space Administration (NASA) is a textbook example of how to quash free scientific inquiry. It also is a lesson in transforming potentially useful citizens into high-speed drains on the U.S. Treasury. Instead of

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My letter to the NY Times re: A balanced government budget is NOT the definition of success

Monday, February 10th, 2014 by posted in Capitalism, Civil Liberties, Economics, Education, Politics.

Re: Economy and Crime Spur New Puerto Rico Exodus Dear Sirs: Reporter Lizette Alvarez makes the common mistake of equating a balanced government budget with success.  She lauds new Puerto Rican president Garcia Padilla for reducing the deficit by seventy

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