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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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How EU and Swiss Socialism Made Immigrants a Political Problem

Monday, March 10th, 2014 by posted in Capitalism, Economics, Foreign Policy.
Zurich-at-night teaser

The Nationalistic Swiss people’s party recently succeeded in a referendum to limit Swiss immigration. The party blamed immigrants for a general lowering of incomes and for “stealing” jobs that otherwise would have gone to Swiss citizens. They also blame immigrants

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Bitcoin Banking

Friday, March 7th, 2014 by posted in Banking, Capitalism, Economics, Law.

A currency is only as safe as the bank that stores it. Nowhere is this more apparent than in the recent turmoil in the bitcoin community. One the primary advantages of bitcoin, perhaps even the greatest advantage of the cryptocurrency,

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Supreme Court to Hear Gambling Case

Friday, March 7th, 2014 by posted in Capitalism, Law.
royal-flush

We all know that gambling is bad. It’s a thinly disguised way for exploitive casino owners to part a fool from his money, and leads to dangerous addictions that destroy families and lives. Naturally, it is in the public interest

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Boosting the Bust

Friday, March 7th, 2014 by posted in Banking, Capitalism, Economics, History.
federal reserve teaser

The root cause of the crisis is the credit money system Economic data suggest that the large economies around the world – the US, Europe and Japan – are working themselves out of the latest financial and economic crisis. Output

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Multiple examples of what is wrong with the EU

Thursday, March 6th, 2014 by posted in Banking, Capitalism, Economics.

From today’s Open Europe news summary: 1. Brussels proposes revamped €11bn aid package for Ukraine   2. The European Commission yesterday released its in-depth review into macroeconomic imbalances, in which it called for “policy action” on the German current account

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Raise the Minimum Wage? A Socratic Dialogue

Tuesday, March 4th, 2014 by posted in Capitalism, Economics, Regulation.
socrates teaser

Reprinted from FEE.org The ancient sage Socrates, a giant in the foundation of Western philosophy, was known for a teaching style by which he aggressively questioned his students. He employed his Socratic method as a way to stimulate logical, analytical

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The Very Deserving Super Rich

Monday, March 3rd, 2014 by posted in Capitalism, Economics.
skyline teaser

In a recent New York Times column titled “The Undeserving Rich,” Paul Krugman writes, “You almost never see apologists for inequality willing to talk about the 1 percent, let alone the really big winners [the top .1 percent].” Here is

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An Optimistic View of 21st Century Poverty

Saturday, March 1st, 2014 by posted in Capitalism, Economics.
Girl With Mobile Smart Phone

Many proponents of socialism and State control will claim that the growing gap between the rich and the poor needs to be corrected. They say that because the gap is growing, that justifies the need for the state to come

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Stop the Presses: Environmentalists Argue for Fewer Regulations

Friday, February 28th, 2014 by posted in Capitalism, Regulation.
drycleanonly_lrg

No one likes to boss other people around more than environmentalists. Their wildly unrealistic policy agenda combined with an innate disdain for other humans makes them alarmingly aggressive about imposing their wills on others, regardless of any negative impacts these

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