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Greeks get Mercedes and BMW’s; Germans get depreciating euros

Monday, May 18th, 2015 by posted in Banking, Economics.

Re: Where Greeks Are Stashing Their Cash Ludwig von Mises characterized the third and final stage of a currency’s collapse, where people are desperate to exchange their currency for almost anything of real value, as a “crack up boom”. Notice

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The War on Cash Destroys a Small Entrepreneur

Friday, May 15th, 2015 by posted in Banking, Capitalism, Economics, Regulation.
100-dollar-bills-cash teaser

Reprinted from LewRockwell.com Lyndon McClellan is a small entrepreneur who owns and operates L & M Convenience Mart in Fairmont, North Carolina.  L & M comprises a gas station, convenience store, and a small restaurant serving hot dogs, hamburgers, and catfish

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Is the “Austrian School” a Lie?

Friday, May 15th, 2015 by and posted in Economics, Education, History, Philosophy.
MisesLibrary (1) teaser

Reprinted from the Freeman Do those of us who use the word Austrian in its modern libertarian contextmisrepresent an intellectual tradition? We trace our roots back through the 20th century’s F.A. Hayek and Ludwig von Mises (both served as advisors to FEE)

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“Surviving Or Thriving” – What Canada’s 40% Surge In Meat Prices Means

Thursday, May 14th, 2015 by posted in Capitalism, Economics, Regulation.
TENDERLOIN_teaser

Reprinted from Zerohedge: On the surface, Canada’s 1.2% inflation is negligible, and barely enough to keep up with the pace of overall growth as mandated by a few central bank academics. It is below the surface, however, that one finds

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Canada’s Central Bank is Headed by a Comedian

Wednesday, May 13th, 2015 by posted in Banking, Capitalism, Economics.
poloz_teaser

Reprinted from Acting-man.org Yet Another Delusional Bubble Blower Canada is home to one of the most egregious housing and credit bubbles in the world – a legacy of its former central bank governor Mark Carney, who is now blowing a

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Do Critics Think Walmart Water Bottles Fall From the Sky?

Tuesday, May 12th, 2015 by posted in Economics.
Walmart bottle

The latest outrage concerning the California water drought–the economics of which I explain in this short YouTube video–is that Walmart is earning an unconscionable profit in bottling and reselling water back to California residents. Here’s a RawStory summary of a

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Naomi Klein’s Vain Search For The Bullies of Branding

Tuesday, May 12th, 2015 by posted in Capitalism, Economics.
billboard-original-EMC-lg-teasr

Reprinted from LewRockwell.com In happier times, Toronto’s garment district was abuzz with Trotskyite debate and the wrangling of trade union leaders, laments Naomi Klein in her book, No Logo: Taking Aim at the Brand Bullies. Now, she says, the district’s

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Was It Carly Fiorina’s Job to Create Jobs at Hewlett-Packard?

Monday, May 11th, 2015 by posted in Economics.
Carly Fiorina speaks at the Conservative Political Action Conference in Oxon Hill

It caused quite a chortle in political circles when Republican presidential nominee Carly Fiorina’s campaign team failed to lock-down an important website. Specifically, a critic of Fiorina grabbed CarlyFiorina.org and used it to condemn the massive layoffs she oversaw while

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Unintended Consequences

Monday, May 11th, 2015 by posted in Capitalism, Economics.
smartcity_teaser

Reprinted from Prices and Markets It is trivial to say that any cardinal number can be added to another to answer the question of “how many” or “how much” of something there is. The trick lies in teasing some relevance

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Earth Day: 22 Ways to Think about the Climate-Change Debate

Friday, May 8th, 2015 by posted in Capitalism, Economics, Environment.
global warming teaser

Reprinted from the Freeman Reasonable people can disagree about the nature and extent of climate change. But no one should sally forth into this hostile territory without reason and reflection. “Some scientists make ‘period, end of story’ claims,” writes biologist

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Trade Autarky: Do It For the Children!

Thursday, May 7th, 2015 by posted in Economics, Trade.
imports

Walking out of the grocery store today I saw this sticker:   What was impressive about this sentiment is that it doesn’t even focus on a trade deficit. No, just the brute fact of buying imports per se is (apparently)

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The problem isn’t overproduction; it’s malinvestment

Tuesday, May 5th, 2015 by posted in Capitalism, Economics, Socialism.

Mr. Max Ehrendfreund, writing in the Washington Post’s Wonkblog, believes that he has discovered something new: that the world is producing too much and doesn’t know what to do with it. His solution, of course, is to confiscate the overproduced

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Give the free market a chance!

Saturday, May 2nd, 2015 by posted in Economics.

Re: US jobs relapse raises fresh doubts on Fed tightening This link to a recent Telegraph (of London) Ambrose Evans-Pritchard (AEP) report is typical of the trap that Keynesians have built for themselves. AEP well articulates their dilemma, stating: “…the

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Apartment hunting in Paris reminds me why I’m a conservative

Friday, May 1st, 2015 by posted in Capitalism, Economics.
paris1_teaser

Reprinted from The Week My family and I live in Paris. There are many nice things about Paris, as everyone on the planet knows. Apartment hunting is not one of them. Nevermind the extortionary rents. To rent an apartment, you

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My letter to the NY Times re: Rattle those bones, blow that smoke, and bleed the patient until he recovers!

Thursday, April 30th, 2015 by posted in Economics.

Re: Is 2% Inflation enough? Dear Sirs: As you note, the Fed has held “its benchmark rate near zero…since December 2008″, but without the result promised by econometric models. Therefore, those Keynesian economists you quote want even more money printing.

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Freedom of Opportunity Not Equality of Opportunity Part 2

Tuesday, April 28th, 2015 by posted in Capitalism, Economics.
hopper_painting_teaser

This essay shows that the goal of equality of opportunity is both absurd and vicious. Achieving it would require that children all be raised in the same environment and have the same genetic inheritance. In contrast, the essay shows that

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3rd International Conference of the “Ludwig von Mises and Contemporary Societies” cycle: “LIBERALISM, POSTCOMMUNISM AND REFORMS”. Lviv, October 1-2, 2015.

Monday, April 27th, 2015 by posted in Economics.

On the initiative of the Department of Political Science and Philosophy LRIPA NAPA and other institutions a series of conferences in honor of the famous Austrian scientist, liberal thinker and our countryman Ludwig von Mises is held in Lviv. In

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Freedom of Opportunity Not Equality of Opportunity Part 1

Monday, April 27th, 2015 by posted in Capitalism, Economics.
hopper-small-office-image_teaser

This essay shows that the goal of equality of opportunity is both absurd and vicious. Achieving it would require that children all be raised in the same environment and have the same genetic inheritance. In contrast, the essay shows that

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My letter to the WSJ re: Austrians understand why there is a commodity glut

Saturday, April 25th, 2015 by posted in Economics.

Re: Glut of Capital and Labor Challenge Policy Makers Dear Sirs: The worldwide commodity glut is not a surprise to Austrian school economists. It is a wonderful example of the adverse consequences of monetary repression to drive the interest rate

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Do We Owe the Weekend to Labor Unions?

Thursday, April 23rd, 2015 by posted in Economics.
Yay unions

On Twitter the following graphic caught my eye: There are two problems with this argument, one obvious and one more subtle. The obvious problem is that it commits the post hoc ergo propter hoc fallacy. Rather than spelling out what

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