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Central Planning by Central Bankers

Monday, July 7th, 2014 by posted in Banking, Capitalism, Economics.
federalresrve teaser

Reprinted from GaryNorth.com One of the problems that anyone who is critical of the Federal Reserve System faces is the fact that he is regarded as someone without any expertise in the area of money and banking. In a 2009

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Is It a Contradiction?

Saturday, July 5th, 2014 by posted in Capitalism, Philosophy, Politics.
painting

Is anarcho-capitalism a contradiction? Neoreactionary writer “Bulbasaur” seems to believe so. In a recent post at the “The Right Stuff” blog, he contends that anarchy and capitalism are always at odds with one another. He issues some deserved criticism at

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Whiskey: For Drinking or Hoarding?

Thursday, July 3rd, 2014 by posted in Banking, Capitalism, Economics.
whiskey teaser

Reprinted from Casey Research A comedian quipped a few years ago, “You might be a redneck if your 401(k) is invested in NASCAR decanters.” When cheap money creates bubbles, suddenly the absurd become investment strategies. Whiskey, for instance, isn’t just

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Living Like a Refugee

Tuesday, July 1st, 2014 by posted in Capitalism, Regulation.
Waiting-in-Airport teaser

Reprinted from Liberty.me For one evening, I was the most valuable person in the world. About 10 people regarded me this way, in any case. They were 10 among five hundred of my fellow refugees, sleeping on cots under bright

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A Plutocrat for Poverty

Monday, June 30th, 2014 by posted in Capitalism, Economics.
nick_hanauer_lg

In America, and to a certain extent in Canada, rich businessmen are seen as savvy at their craft. After building an empire of wealth, it’s hard to challenge a successful person’s view of market economies. Business owners have to make

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European “Champion” or European “Crony Capitalist”?

Friday, June 27th, 2014 by posted in Capitalism, Politics.

From today’s Open Europe news summary: Following the failed merger of Siemens and Alstom, which eventually joined with General Electric, France is reportedly pushing for an easing of the EU’s antitrust rules to allow the creation of European “champions”.  WSJ

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Why Imagining Freedom is Essential

Friday, June 27th, 2014 by posted in Capitalism, Economics, Philosophy.
cityskyline teaser

Reprinted from Liberty.me “What are you complaining about all the time?” people sometimes ask me. “I’m just about as free as I want to be.” Here’s the problem. How can we really know what we want if we’ve never had

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Anarchist Oilfield

Friday, June 27th, 2014 by posted in Capitalism, Law.
daltonhighway

Editor note: for a real-life example of private law/anarchism in action, please see the email provided below by Dr. Walter Block! As I imagine you know, I have written a book on privatizing roads:Block, Walter E. 2009. The Privatization of

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Private Health Care is Inevitable in Canada

Thursday, June 26th, 2014 by posted in Capitalism, Economics, Health Care.
healthcaregraph

Private health care is inevitable in Canada. Does that sound crazy? Decades ago, socialized medicine became an iconic institution in the country. It wasn’t just the establishment of “free” healthcare for all, but an existential “right” created by a loving

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Turning Piketty Right Side Up

Wednesday, June 25th, 2014 by posted in Capitalism, Economics.
piketty2 teaser

Thomas Piketty, a neo-Marxist French Professor, has written a near-700-page book, published by Harvard University Press. His book is titled Capital in the Twenty-First Century, in honor of Karl Marx’s 19th century Das Capital. It has been greeted with fervent

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Bank Deposits are Not Idle Reserves

Tuesday, June 24th, 2014 by posted in Banking, Capitalism, Economics.
bank vault teaser

What role do bank deposits serve? If you asked this to a run-of-the-mill bank customer they would likely tell you that they are looking for some safety reserve to cover expenses. Ask a banker and the answer could well be

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My letter to the Financial Times, London re: Socialized monetary union means constant meddling into sovereign affairs

Tuesday, June 24th, 2014 by posted in Capitalism, Economics, Socialism.

Dear Sirs: Wolfgang Munchau’s post on June 23rd titled “Merkel versus Renzi for the future of the eurozone” illustrates the inherent weakness of the European Monetary Union.  Like all socialized services, the EMU requires constant meddling by foreigners into the

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Make a New Nation, in the Digital Cloud

Sunday, June 22nd, 2014 by posted in Capitalism, Law, Regulation.
liberty.me1

We’ve come a long way in 100 years. We’ve moved from the first terrifying experiment in the use of violence as a universal tool of world order – embodied in the murderous “Great War” — to the point where we

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Understanding the Price Level

Sunday, June 22nd, 2014 by posted in Capitalism, Economics.

When I teach Austrian economics, I spend a lot of time explaining the three uses of money–holding, spending, and investing–and how only spending and investing affect the overall price level.  This helps my students understand that the total money supply

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Measuring Unemployment, Take Two

Saturday, June 21st, 2014 by posted in Capitalism, Economics.
unemployment line teaser

I recently looked at whether there is a better way to measure unemployment than the standard measures. In it I made two fundamental criticisms about the common measurements of unemployment. The first had to do with who was counted as

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End Ottawa´s Equalization Program

Friday, June 20th, 2014 by posted in Capitalism, Economics.

Hot off her Ontario electoral win, Kathleen Wynne is taking aim at Ottawa. The federal government´s equalization program distributes money between the provinces to help those with less fiscal capabilities deliver the same services. In an interview with the CBC,

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My letter to National Review Magazine re: Free trade is NOT a “prisoner dilemma”

Friday, June 20th, 2014 by posted in Capitalism, Economics, Politics.

Dear Sirs: I despair that National Review has run such a piece of economic ignorance as Oren Cass’s “Fight the Dragon”, in which he calls on the US to wage economic war on China.  The basis of his claim that

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Negative Interest Rates– Only The Start?

Friday, June 20th, 2014 by posted in Banking, Capitalism, Economics.
eurobanknote teaser

Reprinted from Circle Bastiat As Ryan McMaken noted on June 5,  the European Central Bank has instituted negative interest rates for member banks. This could soon spread to the US and also to consumer accounts. If so, you would find money

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Public Sector Strikes Need Competition

Friday, June 20th, 2014 by posted in Capitalism, Economics.

It’s not often police officers and firefighters light fires in the streets (in front of City Hall no less). That’s exactly what happened in Montreal recently, as public union members protested the Quebec government’s intent to reform their municipal pension

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How to follow IMF advice

Thursday, June 19th, 2014 by posted in Capitalism, Economics, Regulation.

From today’s Open Europe news summary: The FT reports that the IMF will today urge the ECB to consider US-style ‘quantitative easing’, including “large scale” purchases of government bonds, to tackle low inflation and boost growth in the eurozone. FT More monetary

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