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The Greek deal won’t solve anything

Monday, February 23rd, 2015 by posted in Economics, Politics, Regulation.

Since the Greek deal contains absolutely zero pro-market reforms, it won’t fix anything. Raising taxes, cutting down on tax evasion and smuggling, even if successful in raising tax revenue, simply entrench government at its current and possibly higher level. The

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The Government Bundle: Would You Like War with Your Health Care?

Monday, February 23rd, 2015 by posted in Economics, Law, Regulation.
ontario-pc-leader-tim-hudak

A recent business innovation that has seen wide market acceptance is the bundling of goods and services.  For example, telecommunications providers such as Bell and Rogers often bundle their phone and Internet services.  Such bundling provides substantial benefits for both

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My letter to the NY Times re: Why the Fed is perplexed about interest rates

Sunday, February 22nd, 2015 by posted in Economics, Regulation.

Re: Fed Appears to Hesitate on Raising Interest Rates Dear Sirs: Austrian School economists are not at all perplexed about what to do with interest rates, because our understanding of economics and especially monetary policy is superior to that of

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“Gold is a noble metal…”

Saturday, February 21st, 2015 by posted in Economics.

Re: Gold coins, at bottom of sea for millennium, go on display A wonderful little report about a recent discovery of gold coins off the coast of Israel, which confirms why gold is the premier store of value since time

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How Markets Tell the Truth and Politics Tells Lies

Friday, February 20th, 2015 by posted in Capitalism, Economics.
fingers-crossed-t

Reprinted from the Freeman Have you ever tried to work with people you couldn’t depend on to tell you the truth? It isn’t pretty. Without the ability to rely on what you’ve been told (or the assurance that you’ve been

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Scott Sumner and the Lead Up to the Great Recession

Wednesday, February 18th, 2015 by posted in Banking, Economics, History.
Obama Economy

Scott Sumner poses a question, and his answer over at Econlog: 1. What would it look like if it looked as though interest rates fell for some reason other than the Fed cutting interest rates with an expansionary monetary policy?  

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The Common Sense of Progress Part 2

Wednesday, February 18th, 2015 by posted in Economics, Philosophy, Politics.
italian_painting_t

Reprinted from The Constitution of Liberty by F. A. Hayek via Freeman Short-term Gain: Long-term Loss Therefore, there must be two different ways of looking at the possibility of reducing inequality and abolishing poverty by deliber­ate redistribution—that is, from a

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The Common Sense of Progress Part 1

Tuesday, February 17th, 2015 by posted in Economics, Philosophy, Politics.
AnticStore-Large-Ref-27694_02_t

Reprinted from TheConstitution of Liberty by F. A. Hayek via Freeman If today in the United States or western Europe the relatively poor can have a car or a refriger­ator, an airplane trip or a radio, at the cost of

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A Way Forward for Greece

Monday, February 16th, 2015 by posted in Banking, Capitalism, Economics.
greece_banks_teaser

The current Greek crisis is exposing the elephant in the room – a worldwide problem getting progressively worse by the day. It’s a problem that has plagued developed economies for the last two centuries. A problem currently metastasized into a full-blown cancer

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My letter to the Philadelphia Inquirer re: Will a new bomber bring prosperity?

Sunday, February 15th, 2015 by posted in Economics.

Re: Will a new bomber bring boom times? on Page A8 of Sunday February 15, 2015 issue of Philadelphia Inquirer – Philly Edition Dear Sirs: Ignore for the moment whether or not the US actually needs a new stealth bomber, which is

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Pundits: Only a Crazy Person Would Doubt the Fed!

Friday, February 13th, 2015 by posted in Capitalism, Economics.
RandPaul

Senator Rand Paul’s recent speeches against the Fed have elicited scorn from the financial and economic blogosphere. Our technocratic wonks assure us that central banks are quite trustworthy, and only a crank or charlatan would want more accountability for the

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Perhaps Krugman’s Grandson Will Understand Government Debt

Thursday, February 12th, 2015 by posted in Economics.
krugman090421

Oh boy here we go again… In two recent posts, Paul Krugman has once again hoisted up a fallacy in his attempt to educate the masses on the proper way to analyze government debt. This is particularly frustrating since a

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What Economic Elites Don’t Want You to Know about Crashes

Thursday, February 12th, 2015 by posted in Banking, Capitalism, Economics.
Brooklyn-Bridge-New-York-1905-1920_t

Reprinted from the Freeman James Grant. The Forgotten Depression: 1921: The Crash That Cured Itself. Simon & Schuster, 2014. 273 pages. The Great Recession drags on everywhere except for Wall Street, Washington, DC, and Ben Bernanke’s consciousness. “By stabilizing the

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My letter to the NY Times re: How much more government “help” can the poor withstand?

Wednesday, February 11th, 2015 by posted in Economics, Politics.

Re: Consumer Protection Agency Seeks Limit on Payday Lenders Dear Sirs: Although one loses count very quickly, government’s attacks upon the poor seem to come in three’s. First government fights the dreaded specter of deflation, meaning lower prices, by its

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3 Myths about “Tax Reform”

Wednesday, February 11th, 2015 by posted in Capitalism, Economics.
IRS-tax-form-teaser

Reprinted from The Freeman Conservative pundits are supposed to be hard-nosed and economically savvy, but when it comes to tax reform they can be as emotional and misguided as progressives. The question of tax reform may be a moral issue,

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John Bugas: G-Man, Ford Executive, Misesian?

Wednesday, February 11th, 2015 by posted in Capitalism, Economics.
JSBugas

John Bugas and Consumer Sovereignty The economist Ludwig von Mises made the notion of “consumer sovereignty” a key plank in his economic analysis and defense of the market economy. John Bugas, a colorful character who rounded up “public enemies” for

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On The Fallacy of “We Make Too Much”

Tuesday, February 10th, 2015 by posted in Capitalism, Economics.
fred_reed

Murray Rothbard had a saying about economics: “It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to

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Why Private-Sector Services Seem to Be More Expensive

Tuesday, February 10th, 2015 by posted in Capitalism, Economics.
Auto-Mechanic-Garage-te

Reprinted from Mises.org Imagine you are a promising car mechanic who wants to open a new car repair shop. You would like to provide basic services to low-income citizens at affordable prices. You would charge a bare minimum for your

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Wrong policies for Greece

Monday, February 9th, 2015 by posted in Economics, Politics.

From today’s Open Europe news summary: Greek PM refuses to change course ahead of crucial week of meetings with Eurozone partners “…Greek Prime Minister Alexis Tsipras…reiterated his plan to increase the minimum wage, halt privatisations, reopen closed public broadcaster ERT

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The real interpretation of high German exports

Monday, February 9th, 2015 by posted in Economics.

From today’s Open Europe news summary: German exports hit record high in 2014 German exports hit a record-high of €1.13 trillion in 2014, a 3.7% increase from 2013, the Federal Statistics Office announced on Monday. German imports increased by 2%

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