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Will someone please stop this man before he hurts himself?

Wednesday, November 26th, 2014 by posted in Banking, Capitalism, Economics.

From today’s Open Europe news summary: Juncker unveils his €315bn investment package for Europe Speaking to the European Parliament this morning, European Commission President Jean-Claude Juncker unveiled his plan for a €315bn investment fund – backed by €8bn from the

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Government debates fractional-reserve banking

Wednesday, November 26th, 2014 by posted in Banking, Capitalism, Economics.

Three cheers to Steve Baker, Conservative MP from Wycombe, for raising the delicate yet important of matter of fractional-reserve banking in Britain´s House of Commons. We are in a debt crisis of historic proportions because for far too long profit-maximising

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The Fraud in Fractional Reserve Banking

Wednesday, November 26th, 2014 by posted in Banking, Economics.
bankvault1_teaser

Suppose you bring a fur coat to a dry cleaner, and discover that the owner allowed his wife to wear it before cleaning it (which is also the subject of an episode from Seinfeld).  Or, suppose you gave your car keys

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Is Scott Sumner “the NGDP Guy”?

Tuesday, November 25th, 2014 by posted in Economics.
Real Fed Funds

In a recent post at EconLog, leading Market Monetarist Scott Sumner complained that he had been pigeonholed: I was recently reading a new book on monetary policy alternatives, edited by Larry White. One thing I noticed was that when my

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The Path to the Perfect Reserve Currency

Tuesday, November 25th, 2014 by posted in Banking, Economics, Politics, Regulation.

Much has been written lately, including by me, about the coming rejection of the dollar as the primary reserve currency of the world’s most important central banks. My prediction is based upon two things: one, that the Federal Reserve is

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The Case Against Rent Control

Tuesday, November 25th, 2014 by posted in Capitalism, Economics, Regulation.
apartment_teaser

Reprinted from The Freeman To someone ignorant of economic reasoning, rent control seems like a great policy. It appears instantly to provide “affordable housing” to poor tenants, while the only apparent downside is a reduction in the income flowing to

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Time to Raise Rates?

Tuesday, November 25th, 2014 by posted in Banking, Capitalism, Economics.

Canada emerged relative unscathed from the financial crisis of 2008. Indeed, over the last six years growth has been relatively robust and to venture out in Toronto, Calgary or Vancouver right now one would think they were in the midst

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Why Banking, Corporate America And The Government Need Each Other

Monday, November 24th, 2014 by posted in Capitalism, Economics, Foreign Policy.
jpmorgan

Reprinted from GoldSilverWorlds.com Content: This paper summarizes an outstanding essay written by Murray N. Rothbard in 1984, which appeared the first time in World Market Perspective and later under the same title as a monograph produced by the Center for

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Hayek, Statistics, and Trade-Cycle Theory

Friday, November 21st, 2014 by posted in Economics.
hayek

Austrian economics is often caricatured and criticized because of its approach, or deliberate lack of an approach, to mathematical models, multivariable calculus, and econometrics. Attacks are leveled against Austrians such as Mises, Rothbard, and Kirzner for their failure or refusal

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Gordon Tullock, Student of Society

Friday, November 21st, 2014 by posted in Economics, History.
tullock

Reprinted from the Freeman Gordon Tullock stood transfixed by an anthill outside the Center for Public Choice in Virginia. When another scholar asked him what he was doing, Tullock replied brusquely: “Research.” It must have indeed been research, because Tullock

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Changing the World: Technology Versus Politics

Thursday, November 20th, 2014 by posted in Capitalism, Civil Liberties, Economics.
smartphone1_teaser

Reprinted from Casey Research We were all supposed to go vote on Tuesday. It’s our civic duty, we’re told. If you want change, your vote is more important than anyone else’s. What a crock. Technology has replaced politics as the

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The Socialist Wind from the South

Wednesday, November 19th, 2014 by posted in Economics, Foreign Policy.
border_crossing_teaser

Reprinted from Le Quebecois Libre As everybody knows, the United States is a mean country where dog-eat-dog capitalism reigns, where the poor die of hunger in the streets or of illnesses at the doors of hospitals whose treatments they cannot

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Planning begins for a euro-free Europe

Wednesday, November 19th, 2014 by posted in Economics, Trade.

From today’s Open Europe news summary: In an interview with RTL, Dutch Finance Minister Jeroen Dijsselbloem admitted that the Dutch government looked at what would happen if plans to save the euro “didn’t succeed”. His predecessor Jan Kees de Jager added separately

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The Skyscraper Curse in Alberta

Tuesday, November 18th, 2014 by posted in Economics.
stantec-tower

The Skyscraper Index shows a correlation between the construction of large, record-setting buildings and economic busts. Of course, correlation is not causation, but it’s interesting to note how accurate this index is. Created by economist Andrew Lawrence in 1999, the

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Education and the Racist Road to Barbarism

Tuesday, November 18th, 2014 by posted in Capitalism, Economics, Environment, History.
ShipPaintingGordonGrant_teaser

A Demonstration of the Objective Superiority of Western Civilization and Slap in the Face of Cultural Relativism and Political Correctness CONTENTS Introduction The Nature of Western Civilization The Universalizability of Western Civilization The Standard for Judging a Civilization: the Objective

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A Response: Defending Anarcho-Capitalism

Monday, November 17th, 2014 by posted in Capitalism, Economics, Philosophy, Politics.
fo_portrait_new_york_07

In a 1901 letter to novelist John Galsworthy, Polish author Joseph Conrad described “skepticism” as “the tonic of minds, the tonic of life, the agent of truth – the way of art and salvation.” Men hardly write letters anymore. Post

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Hey Austrians, Where Is the Inflation?

Monday, November 17th, 2014 by posted in Banking, Capitalism, Economics.
inflation teaser

Reprinted from Liberty.me Hey Austrians, Where Is the Inflation? Of all the criticisms that Austrian economists receive, this complaint is the most reasonable and legitimate of all. Many Austrian economists (so I’m told) have predicted that when Ben “The Bubble”

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NGDP Is a Concept Constructed By Economists

Sunday, November 16th, 2014 by posted in Economics.
Wheat harvest

Long-time readers know that I am not a fan of the Market Monetarist approach to monetary policy, in which central banks are supposed to target a steadily growing level for nominal Gross Domestic Product (NGDP). However, in this post I

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Food Banks and the Basic Income Model

Thursday, November 13th, 2014 by posted in Economics, Socialism.
Screenshot from 2014-11-13 20:15:43

Did you know that nearly a million Canadians are now using food banks each month? According to HungerCount, there has been a 25% increase in food bank usage since the Financial Crisis six years ago. HungerCount Reports are considered to

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Will Foreign Loans Make Us Rich?

Thursday, November 13th, 2014 by posted in Capitalism, Economics, Trade.
ContainerShip_teaser

[Reprinted from Will Dollars Save the World? (1947)] One of a number of posters created by the Economic Cooperation Administration, an agency of the US government, to sell the Marshall Plan in Europe. Note the pivotal position of the American flag.

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