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Can a Leopard Change Its Spots?

Monday, July 21st, 2014 by posted in Capitalism, Politics, Regulation.

Last month an article entitled “The Lack of Major Wars May Be Hurting Economic Growth” was published in the New York Times. On first glance I thought the author, Tyler Cowen, was going to offer a standard argument for increased

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The Ever-Tightening Noose of Airport Security

Friday, July 18th, 2014 by posted in Regulation.

How afraid are you when you get on a plane? More importantly, how afraid should you be? Ever since the terrorist attacks on September 11, 2001, fear of flying has been a constant presence in the western world. Immediately following

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New digital currency backed by gold

Thursday, July 17th, 2014 by posted in Civil Liberties, Economics, Politics, Regulation.

Gold backed digital currency People often ask me how gold can be used as a currency, since it would be almost impossible to create a coin that would be small enough to conduct everyday transactions, such as buying a cup

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Felipe VI, Vivat Rex

Wednesday, July 2nd, 2014 by posted in Philosophy, Politics, Regulation.
spain-king-felipe teaser

On 20 June 2014, a man little known outside the Spanish-speaking world became a little better known as Felipe Juan Pablo Alfonso de Todos los Santos de Borbón y de Grecia succeeded his father to become King Felipe VI of


Living Like a Refugee

Tuesday, July 1st, 2014 by posted in Capitalism, Regulation.
Waiting-in-Airport teaser

Reprinted from For one evening, I was the most valuable person in the world. About 10 people regarded me this way, in any case. They were 10 among five hundred of my fellow refugees, sleeping on cots under bright

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My Trip Through Detroit

Monday, June 23rd, 2014 by posted in Law, Regulation.
tsa teaser

On 5th March 2014, I was detained at Detroit airport, just before I was to board the plane. “I will decide if you will go on this plane or not,” shouted a US custom official with an stress on “I”,


Make a New Nation, in the Digital Cloud

Sunday, June 22nd, 2014 by posted in Capitalism, Law, Regulation.

We’ve come a long way in 100 years. We’ve moved from the first terrifying experiment in the use of violence as a universal tool of world order – embodied in the murderous “Great War” — to the point where we

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How to follow IMF advice

Thursday, June 19th, 2014 by posted in Capitalism, Economics, Regulation.

From today’s Open Europe news summary: The FT reports that the IMF will today urge the ECB to consider US-style ‘quantitative easing’, including “large scale” purchases of government bonds, to tackle low inflation and boost growth in the eurozone. FT More monetary

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My letter to the Financial Times, London re: Fed oversight will not prevent shadow bank losses

Wednesday, June 18th, 2014 by posted in Banking, Economics, Regulation.

Dear Sirs: In his June 17th essay titled “Make shadow banks safe and private money sound” Mr. Paul McCulley displays a good understanding of the functional mechanics of commercial bank credit creation, shadow bank credit creation, and the powers of

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The Minimum Wage Law and Welfare Payments

Wednesday, June 18th, 2014 by posted in Capitalism, Economics, Regulation.
minwage teaser

Reprinted from I think it important to pulverize the case for the minimum wage law. I am guided in this determination by the Jesuit notion of the preferential option for the poor. (Hey I have spent 14 years teaching

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In Defense of the Silk Road

Monday, June 16th, 2014 by posted in Capitalism, Regulation, War on Drugs.
silk_road01 teaser

Reprinted from Remember Napster? It was a solution that was strangled by government. But this action killed nothing. It started a new era of file sharing and online music distribution that has changed the dynamic of the world economy.

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Measuring Unemployment

Tuesday, June 10th, 2014 by posted in Capitalism, Economics, Regulation.
unemploymentline teaser

Unlike other factors of production, it’s difficult to define when and how many workers are unemployed. A weight of steel or a kilowatt hour of electricity is either employed or not. A human, on the other hand, can be classified


Why is There So Much Confusion in Macroeconomics?

Monday, June 9th, 2014 by posted in Capitalism, Economics, Philosophy, Regulation.
money-printing1 teaser

Should we print, not print? Stimulate, not stimulate? Is austerity the right or wrong policy? Is government spending or printing effective? If we ask two economists these questions, we will likely get three opinions for each question. Economists seem confused,


Down with Legal Tender

Friday, June 6th, 2014 by posted in Banking, Capitalism, Economics, Regulation.
canadiancurrency teaser

[This article is excerpted from chapters 4, 5, and 6 of Denationalisation of Money: the Argument Refined.] Reprinted from When one studies the history of money, one cannot help wondering why people should have put up for so long with

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America’s Electronic Police State

Thursday, June 5th, 2014 by posted in Civil Liberties, Intellectual Property, Regulation.
cameras teaser

Reprinted from The modern surveillance state is referred to as an electronic police state because it uses technology to monitor people in order to detect and punish dissent. The authorities exert social control through spying, harsh law enforcement, and

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Crony Capitalism has Government Approval

Tuesday, June 3rd, 2014 by posted in Banking, Capitalism, Regulation.
capitalism teaser

Reprinted from Canadian Electronics Magazine When Judge Richard Posner, the prolific conservative intellectual, released his book “A Failure of Capitalism: The Crisis of ‘08 and the Descent Into Depression” last year, you might have thought the final verdict was in:

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Minimum Wage: Making People Useless

Monday, June 2nd, 2014 by posted in Capitalism, Economics, Regulation.
minimum-wage teaser

Reprinted from Casey Research Karl Marx must be smiling. It’s capital vs. labor all over again. Income inequality is on the tip of every pundit and politician’s tongue. Thomas Piketty’s bestselling nonfiction tome, Capital in the Twenty-First Century, lends credibility to the

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The real cause of European budget indiscipline

Thursday, May 22nd, 2014 by posted in Economics, Politics, Regulation.

From today’s Open Europe news summary: In a comment piece for FAZ, German Finance Minister Wolfgang Schäuble reiterates his call for an EU budgetary commissioner with powers to veto national budgets. He also suggests Europe should be a “multi-layered democracy:

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Why Central Bank Stimulus Cannot Stimulate an Economic Recovery

Tuesday, May 20th, 2014 by posted in Banking, Capitalism, Economics, Regulation.

Today every central bank on the planet is printing money by the bucket loads in an attempt to stimulate their economies to escape velocity and a sustainable recovery.  They are following Keynesian dogma that increasing aggregate demand will spur an

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The Folly of Government Bank Regulation

Monday, May 19th, 2014 by posted in Banking, Capitalism, Economics, Regulation.
VA/DOD Response to Certain Military Exposures

Nothing gets the liberal press’s pom-poms twirling like the threat of bank regulation. Ever since the financial crisis in 2008 and subsequent bailout of Wall Street, progressive pols have had their sights set on the banking class. The animosity makes

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