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Poloz is Gonna Leave ‘em Low

Monday, August 25th, 2014 by posted in Economics.
0524poloz

As Janet Yellen talked about the possibility of raising interest rates, Poloz’s comments followed with a definite no. We’re already bumped up to 1% and Canadian markets tend to react to American news anyway. Instead adding more speculative fire to

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The Happiness Problem

Monday, August 25th, 2014 by posted in Economics, Philosophy.
frownyface

In the ongoing march of scientism, the flawed worldview that everything in life is ultimately reducible to numbers and equations, researchers have been increasingly interested in attempting to measure people’s happiness in order to determine which economic and social policies

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Piketty’s Capital: Wrong Theory Destructive Program

Monday, August 25th, 2014 by posted in Capitalism, Economics, History.
piketty4_teaser

This essay is available for sale as a Kindle book on Amazon.com for 99¢. Go to http://amzn.to/1nsDDLP.   Prelude to Piketty: The US Government’s Assault on the American Economic System Over the course of several generations, the US government has

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Fifth Austrian Conference – November 17, 18th, 19th

Sunday, August 24th, 2014 by posted in Economics, Education.
Austrian_conference

Special Announcement – Fifth Austrian ConferenceWe are thrilled to inform you that –besides our outstanding list of Key Note Speakers(http://bit.ly/1BJvsFx) – the following scholars have already confirmed their presence at the FifthInternational Conference “The Austrian School of Economics in the

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CBO Keeps Reducing Its Estimate of ObamaCare Benefits

Sunday, August 24th, 2014 by posted in Economics, Health Care.
CBO Coverage Over Time

I’ve been following the wonkish analysis of the Affordable Care Act–abbreviated as the ACA or often referred to as “ObamaCare”–from the beginning. I’ve noticed that even though most Americans think it grants “universal coverage” the same way that anybody can walk

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What Does Bitcoin Mean for Austrian Money Theory?

Friday, August 22nd, 2014 by posted in Economics, Philosophy.
bagogold

Libertarians tend to agree with each other on most things. We all favor less government regulation, lower taxes, less involvement in international conflicts, and more personal freedom. There are a few areas, however, in which the movement remains sharply divided.

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Life Without the McDouble

Friday, August 22nd, 2014 by posted in Capitalism, Economics.
mcdonaldst

Reprinted from The Freeman It thrills me when McDonald’s burgers get the attention they deserve. This happened last year when Stephen Dubner, co-author of Freakonomics, made the provocative statement that the McDouble is the cheapest and most nutritious food in human history. 

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What If We Could Sell Our Kidneys?

Friday, August 22nd, 2014 by posted in Economics, Health Care, Law, Politics, Regulation.
What If We Could Sell Our Kidneys?

According to the Kidney Foundation of Canada, one in 10 Canadians has kidney disease. Moreover, the number of Canadians being treated for kidney failure has tripled in the past two decades – and each day, 16 people are added to

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Banks Can Perform Their Two Functions With 100% Reserves

Thursday, August 21st, 2014 by posted in Banking, Economics.
teller

In a recent post at Forbes, John Tamny made some very strong claims against the Austrian School. In the present post, I want to push back on just one of his points (though I think there are several problems with

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Gold versus Fractional Reserves

Thursday, August 21st, 2014 by posted in Banking, Capitalism, Economics.
goldt

[This article originally appeared in The Freeman, May 1979.] The present worldwide inflation has done, and will continue to do, immense harm. But it may eventually lead to one great achievement. It may make it possible to restore (or perhaps it

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The Most Ethically Chilling Use of a “Steady State Equilibrium” I’ve Ever Seen

Wednesday, August 20th, 2014 by posted in Economics.
Everest

On the one hand, I obviously understand that economist Scott Sumner is being whimsical in this recent blog post where he offers “A utilitarian defense of reckless young men.” Yet on the other hand, Sumner’s analysis is horribly flawed, in

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Who Cares for Toronto’s Sidewalks?

Wednesday, August 20th, 2014 by posted in Capitalism, Economics, Environment, Law, Politics, Regulation.

In Toronto an important debate is starting to stir about who controls the sidewalks – the city or the owners of the adjacent properties. Sparking this debate is a bicycle owner, Lisa Ferguson, who thought her bike was stolen when

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World War One and the End of the Bourgeois Century

Wednesday, August 20th, 2014 by posted in Capitalism, Civil Liberties, Economics, History.
wwit

Reprinted from Mises.org Last week (two weeks ago – ed. note) marked the 100 Anniversary of the beginning of World War I. That war, which produced over 37 million casualties, not counting the related famines and epidemics that came in the

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Does Sexism Explain Dry Cleaning Prices?

Tuesday, August 19th, 2014 by posted in Capitalism, Economics.
Dry Cleaner

A recent Vox article claimed in its title: “Dry cleaners charge women more, and it matters more than you realize.” Yet as with most of these analyses, the discussion ignores basic principles of economics. Rather than viewing an initially surprising

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Mainstream Economists Rediscover the Marginal Pair

Tuesday, August 19th, 2014 by posted in Economics.
eugen

In his book, The Positive Theory of Capital,[1] Eugen von Böhm-Bawerk developed a theory of price formation centered around the valuations of the “marginal pairs.”[2] That is, there are four market participants whose subjective valuations play a special role in

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Bird Lovers of the World, Unite!

Tuesday, August 19th, 2014 by posted in Economics, Environment.

Environmentalists think there are some free lunches out there, at least when it comes to energy production. Over the past decade green alternatives, such as solar and wind, have become popular alternatives to the older providers of energy, such as

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Ferguson’s Segregated Ruling Class

Monday, August 18th, 2014 by posted in Civil Liberties, Economics.

There might not be any easy answers to what’s going on in Ferguson, Missouri, but there are points that might make it just an extreme case of a more general problem. Some commentators have chimed in to claim that the

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Oh, no! Not lower prices!

Monday, August 18th, 2014 by posted in Economics.

From today’s Open Europe news summary: Italian Finance Minister Pier Carlo Padoan has said in an interview that the ECB “has to be consistent and bring [eurozone] inflation close to 2%…which is very far from current levels.” Separately, Handelsblatt reports that the

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Germany cannot carry Europe any longer

Monday, August 18th, 2014 by posted in Economics, Politics.

From today’s Open Europe news summary: Persson: Eurozone still an awfully long way from becoming a healthy and vibrant economic bloc In the Sunday Telegraph, Mats Persson argued that while the risk of a euro breakup has subsided, “the currency zone

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Low Interest Rates Harm Everyone

Monday, August 18th, 2014 by posted in Banking, Capitalism, Economics.

It’s not just poor pensioners who are harmed by central banks’ ultra-low interest rate targets. Governments are now also getting squeezed. Pension plans like social security rely on, historically, fixed-income investments to provide returns for the future payouts. With interest

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