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The Deflation Boogeyman

Thursday, October 30th, 2014 by posted in Banking, Capitalism, Economics.
Federal_Reserve

Here we go again.  A plunge in oil prices has spurred a bevy of articles from the bought-and-paid-for media, as well as quasi-governmental agencies, alerting us of pending disaster if deflation were allowed to make an entrance, however briefly. Never

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The Market and the State

Thursday, October 30th, 2014 by posted in Capitalism, Economics, Politics.
Farmers-Market-2_teaser

[Originally published in German in 1968. Reprinted from Mises.org] For every species of animals and plants the means of subsistence are limited. Hence every living being’s vital interests are implacably opposed to those of all members of its own species.

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QE’s Seeds are Already Sown

Thursday, October 30th, 2014 by posted in Banking, Capitalism, Economics.

The Federal Reserve has finally ended its quantitative easing programs. Since the financial crisis of 2008, the Fed has pursued what seemed like an endless policy of asset purchases. As recently as September 2008 the monetary base in the US

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Ebola Won’t Wait for the FDA

Wednesday, October 29th, 2014 by posted in Capitalism, Economics, Regulation.
ebola_teaser

Just as fear of Ebola gaining a foothold in the United States in Dallas seemed to be passing, a new case has appeared in New York City. Even if we are so fortunate that no further cases result from this

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Dudley the Dud

Wednesday, October 29th, 2014 by posted in Banking, Capitalism, Economics.
Dudley+lecture

Six years after the financial crisis rocked the world economy, it’s a safe bet to say the Federal Reserve will never take responsibility for the debacle. And why should it? To both mainstream pundits and academics, the Fed saved the

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Regulate through taxation

Wednesday, October 29th, 2014 by posted in Capitalism, Civil Liberties, Economics.

One lesson from the United States’ Obamacare debacle has been that if Congress can’t get its way through regulation, it can always resort to taxes. At least that’s the Supreme Court’s view, after it declared the Affordable Care Act constitutional

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The Fed: Strangling the Saving Ethic and Values

Monday, October 27th, 2014 by posted in Banking, Capitalism, Economics.
bank-teller_teaser

Reprinted from Casey Research Saving was once drummed into our heads as the prudent thing to do. How many times did you hear, “A penny saved is a penny earned”? Now some argue it’s not worth anyone’s time to pick

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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.
cab_tea

[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.
competition-antitrust_tea

[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.
disneyworld_tea

Reprinted from Liberty.me 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.
STEM_logo

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.
braiding

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.
differing-currnecies_teaser

An excerpt from Principles of Economics [online text], Chapter VIII, 1871. Reprinted from Mises.org 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.
dr-oz

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.
weimar_inflation_teaser

[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 Mises.org 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

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