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A typical EU solution

Thursday, April 17th, 2014 by posted in Capitalism, Economics.

From today’s Open Europe news summary: Meanwhile, French Prime Minister Manuel Valls yesterday unveiled his plan to cut public deficit by €50bn between 2015 and 2017. The new leader of the party, Jean-Christophe Cambadélis, said this morning, “We need to

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Why We Should Sell Alcohol at College Football Games

Thursday, April 17th, 2014 by posted in Capitalism, Economics.
beer teaser

Reprinted from Mises.org Selling alcohol at college football games sounds to many like a really bad idea, and many others are no doubt of the opinion that there are already too many drunk and intoxicated fans and college students. Alcohol

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Scary: Krugman’s Idea of ObamaCare Success Story

Wednesday, April 16th, 2014 by posted in Economics, Health Care.
Nobel Prize winning economist Krugman speaks during an interview in New York

Paul Krugman has made another installment in his campaign to promote the wonders of ObamaCare. In this post, Krugman laments that New Yorkers of all people don’t recognize how great the new health insurance regime is working  out. He tells

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Short Memories and Money Creation

Wednesday, April 16th, 2014 by posted in Banking, Economics.

Bankers have never been accused of having long memories, but the crash beginning in ‘08 took out nearly 500 banks. Most were victims of plunging real estate values that savaged real estate loan portfolios.  You’d think it would be a

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Meet “Lowflation”: Deflation’s Scary Pal

Wednesday, April 16th, 2014 by posted in Economics.
8934327e76fe0e6bd70e60ab6b426569f08ae6c5

Reprinted from LewRockwell.com In recent years a good part of the monetary debate has become a simple war of words, with much of the conflict focused on the definition for the word “inflation.” Whereas economists up until the 1960′s or

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Building Codes and the Centralization of Risk

Tuesday, April 15th, 2014 by posted in Capitalism, Economics.
IN7032

The earthquake that recently rocked Chile and the relatively small amount of damage, both human and structural, that resulted has led some to question whether building codes closer to home are too lax. If we just took a little more

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Deflation & Liberty (Pt. 5)

Tuesday, April 15th, 2014 by posted in Economics.
deflation-and-liberty

Inflation in the form of fractional-reserve banking and fiat money is ultimately a self-defeating practice. It bears in itself the germs of its own destruction and, as we shall see, deflation is the essential vehicle of this destruction. We can

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More Intimations by the European Central Bank of Currency Confiscation

Monday, April 14th, 2014 by posted in Banking, Capitalism, Civil Liberties, Economics.

From today’s Open Europe news summary: Draghi suggests that the ECB could ease policy further to tackle strong euro Speaking at the spring meetings of the IMF and World Bank over the weekend, ECB President Mario Draghi said that the

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Deflation & Liberty (Pt. 4)

Monday, April 14th, 2014 by posted in Economics.
deflation-and-liberty

How would money be produced in a free society? Let us first observe that the fact that the quantity of money is irrelevant for the wealth of a nation must not be confused with the ideal of stabilizing the quantity

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Draft Day: The Power of Subjective Thinking

Sunday, April 13th, 2014 by posted in Economics.

The New York Times sent its first string reviewer to weigh in on Ivan Reitman’s new film “Draft Day.” They don’t get any better than A.O. Scott, who gets off  sentences like, “Lately, Mr. Costner hasn’t been around much, and

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The Source of Economic Progress–the Primacy of the Individual

Saturday, April 12th, 2014 by posted in Civil Liberties, Economics, Philosophy, Politics.

Members of an Austrian school of economics forum to which I belong have been discussing the source of economic progress.  It began with the usual elements of capital, technological development, and managerial expertise before getting more philosophical when a member

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Deflation & Liberty (Pt. 3)

Friday, April 11th, 2014 by posted in Economics.
deflation-and-liberty

[This article is excerpted from Deflation & Liberty] From the standpoint of the commonly shared interests of all members of society, the quantity of money is irrelevant. Any quantity of money provides all the services that indirect exchange can possibly

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Higher Taxes Don’t Make Capitalism “Work Better”

Friday, April 11th, 2014 by posted in Capitalism, Economics, History.
doug_saunders

“Would Capitalism Work Better With Higher Taxes?” That’s the title of a new Globe and Mail editorial written by Doug Saunders. The question is innocent enough. The article treads lightly on the topic without ideological moralizing. The dilemma of how

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Deflation & Liberty (Pt. 2)

Thursday, April 10th, 2014 by posted in Economics.
deflation-and-liberty

[This article is excerpted from Deflation & Liberty] When it comes to matters of money and banking, all practical political issues ultimately hinge on one central question: Can one improve or deteriorate the state of an economy by increasing or

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The Obligation of Leisure

Thursday, April 10th, 2014 by posted in Economics.

The French government has long been a big fan of human rights. Of course one man’s rights are another man’s obligations. A new labour agreement in France will oblige employees to ignore their work emails once their working day is

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My letter to the NY Times re: Ignoring the elephant in the room

Wednesday, April 9th, 2014 by posted in Economics, Law, Regulation.

Re: Cities Advance Their Fight Against Rising Inequality Dear Sirs: The latest assault on economic science is led by the usual suspects–politicians, labor unions, intellectuals, and not-for-profit advocacy groups–who clamor for raising Seattle’s minimum wage to fifteen dollars an hour.  The

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The Greatest Economic Myth in the World Today

Wednesday, April 9th, 2014 by posted in Economics.

From today’s Open Europe news summary: New French PM calls for greater ECB action and criticises strong euro French Prime Minister Manuel Valls yesterday won a vote of confidence in the lower house of the French parliament by 306 to

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More IMF Meddling

Wednesday, April 9th, 2014 by posted in Banking, Economics.

The International Monetary Fund is up to its mixed messages again. This time it´s a dire warning about Canada´s future. The IMF has recently softened its outlook on Canada, warning that “”downside risks to the outlook still dominate, including from

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Deflation & Liberty (Pt. 1)

Wednesday, April 9th, 2014 by posted in Economics.
deflation-and-liberty

[This article is excerpted from Deflation & Liberty] The twentieth century has been the century of omnipotent government. In some countries, totalitarian governments have established themselves in one stroke through revolutions—apparently a bad strategy, for none of these governments exists

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Janet Yellen on Bubbles, Bailouts, and the Fed

Tuesday, April 8th, 2014 by posted in Banking, Economics.
rsz_janet-yellen

Transcribed from Janet Yellen’s Exclusive Interview Was the Federal Reserve justified in bailing out the entire financial system in 2008-9? This is why the Fed was originally set-up in 1913. It is to provide liquidity to the financial system as a

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