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The Price Transparency Act Gets Economics Wrong

Wednesday, January 7th, 2015 by posted in Capitalism, Economics.
price-tag

Canadians are accustomed to paying higher prices than our southern neighbours for a wide range of consumer goods: from books, to dairy products, to cars. The Canadian government recently introduced the price transparency act, a piece of legislation that would

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The Need for General Rules

Wednesday, January 7th, 2015 by posted in Capitalism, History, Law.
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Excerpted from The Foundations of Morality by Henry Hazlitt. Reprinted from Mises.org 1. The Contribution of Hume David Hume, probably the greatest of British philosophers, made three major contributions to ethics. The first was the naming and consistent application of

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The Market’s Gift: Low Clothing Prices

Tuesday, January 6th, 2015 by posted in Capitalism, Economics.
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Reprinted from The Freeman Over the holiday season, I have been out and about, looking at shoes, coats, suits, ties, and so on. The range of prices, from super low to super high, is remarkable. And not just for men’s

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Currency Wars

Monday, January 5th, 2015 by posted in Banking, Capitalism, Economics.
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The current Japanese monetary printing orgy and European Central Bank threats of massive QE are both aimed at primarily boosting exports to kick start their moribund economies. The yen has dropped nearly 12% against the dollar since the Japanese announcement

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Oil’s Swoon Undoes the Fed

Friday, January 2nd, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from Casey Research While we’re taught in school and reminded by many that central banks are in the inflation-fighting business, history proves the opposite. Economist Murray Rothbard compared central bankers who talked about suppressing inflation to arsonists who would

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Epic Fail: 100 Years of the Fed

Thursday, January 1st, 2015 by posted in Banking, Capitalism, Economics.
Federal Reserve teaser

Reprinted from The Freeman The most surprising monetary innovation of our time is bitcoin, a privately produced digital currency and payment system. It is a global system that provides a dramatic alternative to central banking and monetary nationalism as we

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Centralization Fails in the Private Sector Too

Wednesday, December 31st, 2014 by posted in Capitalism, Economics.
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Proponents of limited government have long recognized the dangers of excessive centralization. When an entity becomes large and many diverse parts are bound by a single nexus of control, it loses flexibility, adaptability, and humanity. This is true of government,

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Jean-Serge Brisson vs. Canada’s Tax Collectors: A Modern Day Story of David vs. Goliath

Wednesday, December 31st, 2014 by posted in Capitalism, Economics, Regulation.
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“Thus David triumphed over the Philistine with a sling and a stone; he hit the Philistine and killed him, though he had no sword in his hand.”  – 1 Samuel Chapter 17. Imagine a small businessman standing up to the

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Government Save Us From “Overpriced” Chinese Food

Tuesday, December 30th, 2014 by posted in Capitalism, Economics.
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Reprinted from Mises.org This week’s internet-fueled Outrage of the Week is the case of Harvard attorney Ben Edelman who has insisted on “notifying the authorities” to punish a small restaurant for “overcharging” the professor to the tune of four dollars. Boston.com reported on the case,

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On the Silliness of the Cuban Embargo

Tuesday, December 30th, 2014 by posted in Capitalism, Economics, Foreign Policy.
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Two years after I was born, the Soviet Union hit its final nadir. The former Evil Empire collapsed under the weight of its own economic contradictions, never to recover its original form. The fall was the greatest victory for liberty

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Nuclear Distortions

Monday, December 29th, 2014 by posted in Capitalism, Economics, Environment.
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When scientists of the early 20th century realized the possibility of producing electricity from radioactive elements, such as radium and, in later years, uranium, research for harvesting energy from the atom grew stronger. With the discovery of the neutron, which

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The Demand for Perfection

Monday, December 29th, 2014 by posted in Capitalism, Economics.
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Reprinted from Taki’s Mag I was in New York when Lehman Brothers collapsed, in Dubai when property lost half its value in a few days, and in Dublin recently when there was a demonstration against the government. I do not

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The Role of the Leverage Effect in the Austrian Business Cycle heory

Friday, December 26th, 2014 by posted in Banking, Capitalism, Economics.
economist-warns-that-chinas-bear-stearns-moment-may-strike-any-time_teaes

The process through which lax credit conditions cause malinvestments (the nub of the Austrian Business Cycle Theory) is commonly passed over without much ado. In sections 22.2.1 to 22.2.3 of my recent book, Finance Behind the Veil of Money, I

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The Economic Lessons of Bethlehem

Thursday, December 25th, 2014 by posted in Capitalism, History, Regulation.
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Reprinted from LewRockwell.com At the heart of the Christmas story rests some important lessons concerning free enterprise, government, and the role of wealth in society. Let’s begin with one of the most famous phrases: “There’s no room at the inn.”

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Randians versus Rothbardians

Monday, December 22nd, 2014 by posted in Capitalism, Uncategorized.
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It’s easy and often entertaining to take potshots at leftist progressives who want the federal government to run health care (sorry Canadians), or at right-wing neoconservatives who want the federal government to run the world (sorry Americans). But the truly

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Will lifting the embargo bring prosperity to Cuba?

Monday, December 22nd, 2014 by posted in Capitalism, Economics, Politics.

On December 17th, the White House announced that it would restore full diplomatic relations with Cuba. This is certainly a step in the right direction. Nevertheless, ending the American embargo on Cuba – something Mr. Obama cannot do without approval

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Hold the Frankincense and Myrrh

Monday, December 22nd, 2014 by posted in Banking, Capitalism, Economics.
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As we approach the end of the calendar year, it is useful to look back at recent events to give us a sense of what the year ahead may hold. Looking back at the past couple of months, two events

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The Laffer Curve: Will Tax Cuts Pay for Themselves?

Thursday, December 18th, 2014 by posted in Capitalism, Economics.
Arthur Laffer

Reprinted from the Freeman In a recent speech in Little Rock, former president Bill Clinton said, “In the first eight years of trickle-down economics under President Reagan, we tripled the debt.” The former president claims his “first job” in the

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An Unorthodox Solution to the World’s Economic Problems

Wednesday, December 17th, 2014 by posted in Banking, Capitalism, Economics.
Federal_Reserve teaser

We currently face a monumental dilemma. How do we extract ourselves from all this excessive debt without crashing the world economy? There is a solution which is totally counterintuitive: print even more money. In other words, to get out of

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The Myth of a Middle Class

Tuesday, December 16th, 2014 by posted in Capitalism, Economics.
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Reprinted from Mises.org Almost a year ago, during the State of the Union address, President Obama came up with another plan to ease the economic burden on middle-class families. No news here. In fact, he gave that same do-or-die case

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