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Intellectual Property and Comparative Advantage

Monday, March 24th, 2014 by posted in Capitalism, Economics, Intellectual Property.
Digital-Intellectual-Property

People like Intellectual Property laws because they do not grasp how we, ourselves, are beneficiaries of other people’s productivity. We have a tendency to sue and chase after people who “stole ideas”. We praise “originality” and demonize copying, because we

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Don’t Believe In Free-Market Medicine? Have You Ever Seen the Inside of a Venezuelan Supermarket?

Sunday, March 23rd, 2014 by posted in Capitalism, Economics.
supermarket

Reprinted from RayHarvey.org It was in early autumn of 1989 that the drunkard Boris Yeltsin, soon-to-be president of the Soviet Union, visited, for the first time in his life, a supermarket in Houston, Texas. Not long afterward, in his autobiography Against

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Mises Canada on Power Trading Radio

Saturday, March 22nd, 2014 by posted in Capitalism, Economics.
powertradingradio

Redmond Weissenberger, Director of Ludwig von Mises Institute of Canada, joins John O’Donnell and Merlin Rothfeld for a look at a wide variety of topics including the Fed, , Socialism, Health care, housing markets, trading partners, and how Austrian Economics

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Hazlitt’s Timeless Wisdom

Friday, March 21st, 2014 by posted in Banking, Capitalism, Economics, History.

CNBC’s Rick Santelli used his “Santelli Exchange” segment on March 14th to highlight the wisdom of Hazlitt’s Economics in One Lesson written in 1946. The financial network’s tea party rabble rouser and sparring partner to economist Steve Liesman said, Warren

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Overthrowing Smith & Marx: Profits, Not Wages, as the Original and Primary Form of Labor Income

Friday, March 21st, 2014 by posted in Capitalism, Economics, History.
karl_marx-adam_smith teaser 1

Remarks at the Conferral of Honorary Doctorate from Universidad Francisco Marroquin, July 9, 2013 A video of the degree ceremony appears at http://newmedia.ufm.edu/reismandoctoraldegree The author wishes to note that a full and comprehensive development of the foundations of this article and its

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A Faux Fix for Traffic Congestion in Toronto

Thursday, March 20th, 2014 by posted in Capitalism, Economics, Environment, Politics, Regulation.

Re: Proposal to ban cars every other day in Toronto Traffic congestion in certain cities is being met in the traditional ineffective, statist way; i.e., don’t fix it; just make it illegal by prohibiting cars to enter the city every

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The High Price of Delaying the Default

Wednesday, March 19th, 2014 by posted in Banking, Capitalism, Economics.
lehman teaser

Reprinted from Mises.org Credit is a wonderful tool that can help advance the division of labor, thereby increasing productivity and prosperity. The granting of credit enables savers to spread their income over time, as they prefer. By taking out loans,

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Wikipedia and the Decentralization of Medicine

Monday, March 17th, 2014 by posted in Capitalism, Economics, Health Care.
Wikipedia-Business-300x300

Remember when you were in college and your professors all went into fits of red-faced, paralyzing rage at the very idea of using Wikipedia as a source for a paper? Well then, you clearly didn’t go to medical school, because

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Anti-Logic and the Keynesian “Stimulus”

Monday, March 17th, 2014 by posted in Banking, Capitalism, Economics.
ARRA_sign_Baker_CA teaser

Reprinted from Mises.org American political culture always seems to be “celebrating” the anniversary of something, be it JFK’s assassination (we just passed the 50th anniversary of that sad event) or the signing of some (mostly bad) legislation. The latest political

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The Perverse Economic Incentives of the State

Saturday, March 15th, 2014 by posted in Capitalism, Economics.
tax

My CPA sent me the taxes for 2013, and I was stunned to discover that my consulting business owed the State of Tennessee $1,600. It’s a long story, but I had conducted my affairs last year in such a way

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Episode 55: Predrag Rajsic – The Economy of Tito’s Yugoslavia, Delaying the Inevitable Collapse

Saturday, March 15th, 2014 by posted in Capitalism, History.
predrag

Catch one of the latest episodes of “Better Red Than Dead,” hosted by Mises Canada Executive Director Redmond Weissenberger and Predrag Rajsic. Predrag Rajsic specializes in production economics and economics of markets with substantial market exchange restrictions. His research interests

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The Failure of Keynesianism

Saturday, March 15th, 2014 by posted in Banking, Capitalism, Economics, History.
keynes

It’s hard not to agree with the old aphorism “history doesn’t repeat itself, but it does rhyme.” It’s nice to think we learn from our mistakes; yet we always seem to repeat them at some later date. Reading the daily

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A Useless Minimum Wage Chart

Saturday, March 15th, 2014 by posted in Capitalism, Economics.
Min Wage EPI

In the minimum wage debate in the United States, one of the key arguments is that the minimum wage hasn’t kept pace over the decades, and so raising it (as President Obama wants to do) shouldn’t really hurt anything. One

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More Insanity from the European Union

Friday, March 14th, 2014 by posted in Capitalism, Economics, Regulation.

Fascinating excerpts from the March 14, 2014 Open Europe news summary in italics and my comments below each: All mobile phones and some other electronic appliances on the European market will have to come with a standard charger by 2017

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An End to Austerity?

Friday, March 14th, 2014 by posted in Capitalism, Economics.
construction3 teaser

Reprinted from Mises.org President Barack Obama has recently released his budget in which he calls for an “end of austerity.” This is an amazing statement from a president whose government has spent the highest percentage of GDP in history and

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Our Unrepentant Fed

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

Re: Fed nominee Fischer says easing still needed amid unemployment The above Bloomberg article on Stanley Fischer as the Fed’s nominee for its number two person bodes ill for America and the world.  Fischer has spent his entire adult life

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Sign Up Here to Fight for the Future

Wednesday, March 12th, 2014 by posted in Capitalism, Economics.
Canadian_parliament_MAM teaser

Reprinted from Bogpaper.com I’ve just become a father for the second time, and I find myself wondering what kind of a world my daughter will grow up in. From my perspective, we’re living in an age of decline. Not just

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Slavery Could Not Persist in an Otherwise Free Market, Part II

Tuesday, March 11th, 2014 by posted in Capitalism, Economics.
twelve-years-a-slave

In a previous post, I elaborated on Ludwig von Mises’ comments to argue that human slavery could not persist in an otherwise free market. Mises claimed that free labor was more productive than slave labor, and I used this empirical

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Inside Betting Laws?

Tuesday, March 11th, 2014 by posted in Capitalism, Economics.
tennis teaser

Insider trading laws have long prohibited company insiders from trading on information they generate (or know about) concerning their company for personal gain. In an interesting twist, consider the plight of Daniel Dobson last month: Daniel Dobson attained his 15

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Three Examples of EU Madness

Monday, March 10th, 2014 by posted in Capitalism, Economics, Politics.

The italicized paragraphs are from the Open Europe news summary of March 10, 2014. My comments below each: Eight leaders of the European People’s Party (EPP), including German Chancellor Angela Merkel, have backed a call for students to be given

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