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Literature and Totalitarianism

Wednesday, March 26th, 2014 by posted in History, Law, Philosophy.
orwell tease

I said at the beginning of my first talk that this is not a critical age. It is an age of partisanship and not of detachment, an age in which it is especially difficult to see literary merit in a

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Stealth Inflation

Tuesday, March 25th, 2014 by posted in Banking, Capitalism, Economics, History.

Central bankers have managed to obscure the effects of money printing. But market efficiency gains can’t hide the problems forever.    Six years into recovery and the economy worldwide is punk, despite central bankers’ belief they can inject just the

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Culture in a Cage

Monday, March 24th, 2014 by posted in Economics, History.
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Reprinted from FEE.org Recently, three children from a little-known forest tribe in India approached a nearby village and asked to join their school. The teachers, however, were forbidden by law from admitting the kids. This is because the Indian government prohibits regular

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Hazlitt’s Timeless Wisdom

Friday, March 21st, 2014 by posted in Banking, Capitalism, Economics, History.

CNBC’s Rick Santelli used his “Santelli Exchange” segment on March 14th to highlight the wisdom of Hazlitt’s Economics in One Lesson written in 1946. The financial network’s tea party rabble rouser and sparring partner to economist Steve Liesman said, Warren

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Overthrowing Smith & Marx: Profits, Not Wages, as the Original and Primary Form of Labor Income

Friday, March 21st, 2014 by posted in Capitalism, Economics, History.
karl_marx-adam_smith teaser 1

Remarks at the Conferral of Honorary Doctorate from Universidad Francisco Marroquin, July 9, 2013 A video of the degree ceremony appears at http://newmedia.ufm.edu/reismandoctoraldegree The author wishes to note that a full and comprehensive development of the foundations of this article and its

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Inflation Then and Now

Thursday, March 20th, 2014 by posted in Banking, Economics, History.
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Reprinted from Pembroke Daily Observer The struggle between the National Union of Mineworkers under Arthur Scargill and the government of the United Kingdom under Margaret Thatcher began thirty years ago this past week. The miner’s strike of 1984-1985 is remembered

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Episode 57: Detlev Schlichter – Paper Money Collapse

Wednesday, March 19th, 2014 by posted in Economics, History.
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Catch one of the latest episodes of Better Red Than Dead, starring Mises Canada Executive Director Redmond Weissenberger and economist Detlev Schlitcher. Detlev S. Schlichter is an Austrian School economist and author. His book Paper Money Collapse – The Folly of Elastic

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What Was “The Coyne Affair” ?

Monday, March 17th, 2014 by posted in Banking, Economics, History.
JamesCoyne

James Elliott Coyne would have been 104 years old this July, if he had lived past the ripe old age of 102. A lawyer by training, Coyne first joined the Bank of Canada in 1938 in the Research Department, but

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Episode 55: Predrag Rajsic – The Economy of Tito’s Yugoslavia, Delaying the Inevitable Collapse

Saturday, March 15th, 2014 by posted in Capitalism, History.
predrag

Catch one of the latest episodes of “Better Red Than Dead,” hosted by Mises Canada Executive Director Redmond Weissenberger and Predrag Rajsic. Predrag Rajsic specializes in production economics and economics of markets with substantial market exchange restrictions. His research interests

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The Failure of Keynesianism

Saturday, March 15th, 2014 by posted in Banking, Capitalism, Economics, History.
keynes

It’s hard not to agree with the old aphorism “history doesn’t repeat itself, but it does rhyme.” It’s nice to think we learn from our mistakes; yet we always seem to repeat them at some later date. Reading the daily

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The Economy of Tito’s Yugoslavia: Delaying the Inevitable Collapse

Thursday, March 13th, 2014 by posted in Economics, History, Socialism.
propala fabrika

There seems to be a resurgence of nostalgia for the “good old days” among the citizens of countries that were once known under the common name of Socialist Federal Republic of Yugoslavia.  This article is dedicated to all of us

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Sociologists Spot the Blinders of Macroeconomics

Wednesday, March 12th, 2014 by posted in Banking, Economics, History.

Sociology is the last place from which one would expect helpful insights into the workings of the Fed.   While at one time the field produced some illuminating work on economic topics — think of Max Weber’s The Protestant Ethic

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Boosting the Bust

Friday, March 7th, 2014 by posted in Banking, Capitalism, Economics, History.
federal reserve teaser

The root cause of the crisis is the credit money system Economic data suggest that the large economies around the world – the US, Europe and Japan – are working themselves out of the latest financial and economic crisis. Output

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Rothbard’s Remedy

Thursday, March 6th, 2014 by posted in Economics, History.
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Reprinted from FEE.org Economic theories don’t lend themselves to laboratory testing, so the work of a national appraisal firm is especially enlightening. A new study lends support to the Austrian business cycle theory, which says that the less government is

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Peter Boettke Interview

Wednesday, March 5th, 2014 by posted in Economics, History, Philosophy.
Opera-Vienna-Austria-2005 teaser

Reprinted from TheBestSchools.org Austrian economics, of course, is the school of thought which holds that the free market is basically self-regulating and that the government’s role should be limited to providing a reliable and predictable legal structure within which all

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Misunderstanding Machiavelli

Tuesday, February 25th, 2014 by posted in Capitalism, Economics, History, Philosophy, Politics.
machiavelli

An op-ed page discussion of Niccolo Machiavelli’s The Prince is the last place to expect another bit of carping about present-day inequalities of wealth. But that’s what the Toronto Star presented its readers today in a mini-symposium commemorating the 500th anniversary of

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Stalin’s Apologists

Tuesday, February 25th, 2014 by posted in Capitalism, History.
stalin teaser

It’s a sad fact of the world today that there are people still enamored with the murderous rule of socialist tyrant Joseph Stalin. There are various groups around the world dedicated to washing the blood from his hands and transforming

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Say’s Law and the Permanent Recession

Monday, February 24th, 2014 by posted in Capitalism, Economics, History.
jean-baptiste-say teaser

Mainstream media discussion of the macro economic picture goes something like this: “When there is a recession, the Fed should stimulate. We know from history the recovery comes about 12-18 months after stimulus. We stimulated, we printed a lot of

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Mises and Schumpeter: Friendly Rivals?

Tuesday, February 18th, 2014 by posted in Economics, History, Philosophy.
pruckel teaser

Reprinted from Mises.org Ludwig von Mises and Joseph Schumpeter are the most famous economists trained by the older Austrian School, although generally Schumpeter has received the lion’s share of attention.[1] This is especially true, for example, in the field of entrepreneurship.

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Turning Their Backs on Sweden’s Welfare State

Wednesday, February 12th, 2014 by posted in Capitalism, History, Regulation.
Stockholm-City-Sweden-Wallpaper teaser

Reprinted from Circle Bastiat As noted by e.g. Reason.com, Yahoo! News recently reportedthat Swedes are increasingly turning their backs on their globally lauded utopian welfare state. While very little known, Sweden’s welfare state “worked” through the early 1970s thanks to deliberately preserving

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