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Stephen Poloz’s Zen Moment

Thursday, July 16th, 2015 by posted in Economics, Politics.
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To cut or not to cut, that is the question. And fortunately for Bank of Canada Governor Stephen Poloz, it was a pretty easy question. A lagging US recovery, China’s downturn, lower oil prices and “bad weather” all contributed to

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How to Outsource Your Compassion to the Government

Thursday, July 16th, 2015 by posted in Capitalism, Economics.
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Reprinted from the Freeman I saw the mom and her two little kids camped out in the shopping center parking lot. She held a sign asking for help to feed them. I bought some oranges and bananas for them. Imagine

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The Chimera of Contracyclical Policies

Wednesday, July 15th, 2015 by posted in Banking, Capitalism, Economics.
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[Republished from Human Action (1949)] An essential element of the “unorthodox” doctrines, advanced both by all socialists and by all interventionists, is that the recurrence of depressions is a phenomenon inherent in the very operation, of the market economy. But while

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An economic myth that just will not die

Wednesday, July 15th, 2015 by posted in Economics.

An excerpt from today’s Open Europe news summary: Luc Coene, a member of the ECB’s supervisory board and a former Belgian Central Bank Governor, told Belgian daily De Tijd that a Grexit may have been a better option, arguing, “Because

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Frédéric Bastiat Deserves a Posthumous Nobel

Tuesday, July 14th, 2015 by posted in Capitalism, Economics, History.
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Reprinted from the Freeman If a posthumous Nobel Prize was awarded for crystal-clear writing and masterful storytelling in economics, no one would be more deserving of it than Frédéric Bastiat (June 30, 1801–December 24, 1850). He set the standard over a

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The House Bubble: A Documentary

Monday, July 13th, 2015 by posted in Economics, History.
bubble film

The idea was simple: Track down the people who predicted the housing crash and ask them what’s next. 35,000 miles and four years later, we’re test screening our first documentary “The Bubble” and finishing editing the follow up “The Bigger

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Gold and Economic Inequality

Friday, July 10th, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from Mises.org Inequality is a top news items for 2015 driven largely by the Baltimore riots, the minimum wage debate, Thomas Piketty’s bookCapital in the Twenty-First Century, and now the entry of socialist Bernie Sanders into the race for

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Baltimore’s Unemployed and the True Cost of Minimum Wages

Thursday, July 9th, 2015 by posted in Capitalism, Economics.
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Reprinted from Mises.org Since President Johnson first declared war on poverty in his 1964 State of the Union address, this war has cost US taxpayers $22 trillion. The primary implement of this war has and continues to be public assistance

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Capitalist Planning and Socialist Chaos Part 2

Wednesday, July 8th, 2015 by posted in Capitalism, Economics.
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Most of this essay has been extracted from portions of the author’s Capitalism: A Treatise on Economics, specifically pp. 137-139 and 269-273. Because of Its Destruction of the Price System, Economic Planning under Socialism Would Require the Existence of an

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Capitalist Planning and Socialist Chaos Part 1

Tuesday, July 7th, 2015 by posted in Capitalism, Economics.
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Most of this essay has been extracted from portions of the author’s Capitalism: A Treatise on Economics, specifically pp. 137-139 and 269-273.   Economic planning is almost always thought to be an activity performed by governments. In contrast, the activities

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My Advice for Greece

Monday, July 6th, 2015 by posted in Capitalism, Economics, Law, Politics, Regulation, Trade.

  Leave both the European Union (EU) and the European Monetary Union (EMU). These are very flawed institutions. In his prescient book Tragedy of the Euro, Professor Philip Bagus uses the term “misconstructed”, which I think is very descriptive of

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Patrick Barron interviewed re: The Greek Crisis

Friday, July 3rd, 2015 by posted in Banking, Capitalism, Economics, Socialism.
Patrick Barron interviewed re: The Greek Crisis

Patrick Barron: The Greek Crisis and the Impossibility of the Euro Published on Jul 2, 2015 Jeff Deist and Patrick Barron discuss European integration, which pits creditor nations like Germany against hapless debtors like Greece under the yoke of the

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La subvention et le calcul économique

Thursday, July 2nd, 2015 by posted in Economics, Politique.

1.Le calcul économique Dans une économie complexe, la monnaie, les échanges, et la propriété privée des moyens de production permettent le calcul économique. Ainsi, un entrepreneur saura s’il a alloué avec succès les ressources productives à sa disposition en comparant

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The Logic of Interventionism, or How to Wake up in a Prison

Wednesday, July 1st, 2015 by posted in Capitalism, Economics.
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Reprinted from Acting-man.org Archaic Financial Freedom The mainstream press is still full of articles about the alleged evils of cash, which we regard as a typical “trial balloon” launched by the powers-that-be. The way this works is that they get

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Glenn Greenwald and civil libertarians’ ‘double paradigm’ syndrome

Tuesday, June 30th, 2015 by posted in Civil Liberties, Economics, Foreign Policy.
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Those who value privacy intended as respect of individual property rights, for example in one’s own communications, will forever be in debt of Edward Snowden. And even those who today don’t value privacy will be. Snowden is the great hero

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UberPop: une “Pétition des fabricants de chandelles” version 2015

Thursday, June 25th, 2015 by posted in Economics, Politique, Regulation, Socialism, Uncategorized.

Avec tout le saccage que les conducteurs de Taxi furieux contre Uber Pop ont causé aujourd’hui à Paris. Rien ne vaut la célèbre satire du protectionnisme de Frédéric Bastiat pour nous remémoré l’absurdité de cette politique. Alors sans plus tarder,

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Krugman on 2013: Heads He’s a Scientist, Tails You’re a Jerk

Thursday, June 25th, 2015 by posted in Economics, Uncategorized.
krugman vs austerians

Oh boy. Paul Krugman keeps digging himself into a deeper hole with his botched 2013 austerity predictions. In this post, as a service to future archeologists, I want to (a) document Krugman’s shamelessness but (b) also explain that his excuses

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Hayek on the Business Cycle

Thursday, June 25th, 2015 by posted in Banking, Economics.
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[Introduction to Prices and Production and Other Works by F.A. Hayek. Reprinted from Mises.org] Friedrich A. Hayek was barely out of his twenties in 1929 when he published the German versions of the first two works in this collection, Monetary

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Greece illustrates 150 years of socialist failure in Europe

Wednesday, June 24th, 2015 by posted in Capitalism, Economics, Socialism.

Greece cannot pay its debts…ever. Nor can several other members of the European Union. That’s why Europe’s elite are loath to place Greece in default. If Greece is allowed to abrogate its debts, why should any of the other debtor

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To Taylor, Love Freedom

Tuesday, June 23rd, 2015 by posted in Economics, Intellectual Property, Music.
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Dear Taylor Swift, You recently wrote an open letter to Apple, Inc. (To Apple, Love Taylor) where you spelled out your decisions on why you will not be allowing them to stream your album, 1989, without paying you for the

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