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Non-Initiation of Aggression Is Necessary, But Not Sufficient, For Being a Nice Guy (or Gal)

Friday, July 11th, 2014 by posted in Economics, Law, Philosophy.
rothbard

This is a minor point, but believe it or not, I have to make it: Libertarian ethical theory (as developed, for example, by Murray Rothbard in Ethics of Liberty) does NOT say: “As long as you don’t initiate aggression, you

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A treaty with the EU or the ECB means nothing

Friday, July 11th, 2014 by posted in Economics.

From today’s Open Europe news summary: French Economy Minister Arnaud Montebourg said yesterday, “[It is] inevitable that the ECB goes even further in its non-conventional monetary policies, by finally proceeding to the purchase of public debt securities if the euro

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College is Expensive Because High School is a Failure

Friday, July 11th, 2014 by posted in Capitalism, Economics, Education.
collegeclassroom teaser

It is easy to bemoan some prices for being too high. Economists, good economists at least, don’t take this tack. One of the great lessons in economics is that there is no such thing as a good (low) price or

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First Derivatives Are a Tough Knut for Krugman to Crack

Friday, July 11th, 2014 by posted in Banking, Economics.
Wicksell

In a recent blog post, Paul Krugman tries to invoke the legacy of Knut Wicksell to prove that asset markets aren’t in a massive bubble. This is ironic, since Ludwig von Mises’ own theory of the business cycle drew on

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“I’ve Been a Frickin’ Entrepreneur For 30 Frickin’ Years”

Thursday, July 10th, 2014 by posted in Economics.
2014.07 Dr Evil Vegas

I’m at FreedomFest in Las Vegas with Mises Canada, spreading the word about free markets in energy. But I wanted to make a quick post about this fantastic individual I met outside of the hotel:     The people I

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The Rebirth of Austrian Economics

Wednesday, July 9th, 2014 by posted in Economics, History, Philosophy.
South_Royalton_Vermont teaser

Reprinted from Liberty.me Forty years ago, during the week of June 15-22, 1974, the Austrian School of Economics was reborn during a conference in the small New England town of South Royalton, Vermont. Why was this important? Because the economists

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How to Fight the Ex-Im Bank

Monday, July 7th, 2014 by posted in Capitalism, Economics.
exportimportbank

In politics, words can be dangerous weapons. The terms we use can either accurately or inaccurately reflect what the government is up to. George Orwell understood this better than anyone, and his essay “Politics and the English Language” is a

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On Anarchic Reinforcement

Monday, July 7th, 2014 by posted in Capitalism, Economics, Law.
london

In rebuttal to “Is It a Contradiction?“ Mr. Bulbasaur does not, so far as I can see, offer an argument for his claim that anarchy and capitalism are mutually incompatible. Whether they are required careful analysis, not name-calling and bluster.

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Central Planning by Central Bankers

Monday, July 7th, 2014 by posted in Banking, Capitalism, Economics.
federalresrve teaser

Reprinted from GaryNorth.com One of the problems that anyone who is critical of the Federal Reserve System faces is the fact that he is regarded as someone without any expertise in the area of money and banking. In a 2009

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Tyler Cowen, War, What is it Good For?

Sunday, July 6th, 2014 by posted in Economics.
tylercowena

Check out the podcast discussion between Mises Canada Executive Director Redmond Weissenberger and editor-in-chief James E. Miller on the latest episode of Better Red Than Dead. You can download and listen here.  

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Noah Smith Boldly Goes Where Thousands of Austrian Critics Have Gone Before

Friday, July 4th, 2014 by posted in Economics.
Gary_Mitchell_After

When a smart-aleck like economist Noah Smith pens an absurd critique–which mentions me by name–full of name-calling but bereft of actual arguments, it places me in an awkward position. On the one hand, if I answer Noah, it rewards him

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The Dow’s All-Time High

Friday, July 4th, 2014 by posted in Economics.

The Dow Jones Industrials just closed above 17,000 for the first time ever. While they are celebrating the 4th of July, Americans can rejoice in the good fortune the stock market is giving them. But wait, what’s actually driving the

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Krugman’s Bogus Belgium Boosting

Thursday, July 3rd, 2014 by posted in Economics.
Belgium vs France deficit

Using the World Cup news hook, Paul Krugman recently compared the economic performance of Belgium with France and the Netherlands. In a post titled, “The Secret of Belgium’s Success,” Krugman first showed that Belgium had weathered the financial crisis better

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Whiskey: For Drinking or Hoarding?

Thursday, July 3rd, 2014 by posted in Banking, Capitalism, Economics.
whiskey teaser

Reprinted from Casey Research A comedian quipped a few years ago, “You might be a redneck if your 401(k) is invested in NASCAR decanters.” When cheap money creates bubbles, suddenly the absurd become investment strategies. Whiskey, for instance, isn’t just

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I’ll punish you by starving my own people!

Thursday, July 3rd, 2014 by posted in Economics, Politics.

From today’s Open Europe news summary: EUobserver reports that Russia has retaliated against the signing of a new trade treaty between Moldova and the EU, by banning the imports of processed beef, horse meat, lamb and pork from Moldova. EUobserver Who

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Asset Bubbles Aren’t Yellen’s Problem

Thursday, July 3rd, 2014 by posted in Banking, Economics.

Speaking at an IMF sponsored event, Fed Chairwoman Janet Yellen warned of growing risk factors in several asset classes. Unfortunately, she doesn’t see the most aggressive monetary policy in American history as the cause. Analysts said Yellen was pushing back

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All Brazilians Love Soccer. What’s Wrong With Me?

Wednesday, July 2nd, 2014 by posted in Economics, Politics.

One of the first questions I am asked upon meeting someone new is: “You’re Brazilian! You must be so thrilled to be hosting the world cup, eh? Are you a big soccer fan?” Of course I am! Just as all

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Deposit Insurance is a Gamble

Tuesday, July 1st, 2014 by posted in Banking, Economics.

In a letter to the Economist on May 3rd, Mark Neale, Chief Executive of the UK’s Financial Services Compensation Scheme (the country’s deposit insurance provider), chastised the magazine for its view of deposit insurance as a “corrosive trend” in the

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A Plutocrat for Poverty

Monday, June 30th, 2014 by posted in Capitalism, Economics.
nick_hanauer_lg

In America, and to a certain extent in Canada, rich businessmen are seen as savvy at their craft. After building an empire of wealth, it’s hard to challenge a successful person’s view of market economies. Business owners have to make

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Bank of England Governor will hold back the tides

Monday, June 30th, 2014 by posted in Economics.

Re: The new normal is 2.5%, not 5% benchmark interest rate   Mark Carney, Governor of the Bank of England: “Why is that the case? Things have changed. Households have a lot of debt. The Government is consolidating its financial position.

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