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My letter to the NY Times re: The Boston Fed as Community Organizer

Thursday, January 23rd, 2014 by posted in Economics, Law, Politics, Regulation, Socialism.

Re: Boston Fed as Community Organizer Dear Sirs: This PR campaign by the Boston Fed is not authorized by its mandate.  More importantly, the Fed has no idea what businesses to support.  This is the role of the entrepreneur, who

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Legislating Banking Confusion through Conflicting Laws

Thursday, January 23rd, 2014 by posted in Banking, Law, Regulation.
Confusing_street_signs teaser

What do the following road signs share in common? You probably answered that they are all confusing, and I would agree. Some of you would have answered that they all involve conflict, and that too is correct. The most astute


Healthcare: High Prices and Few Kidneys

Wednesday, January 22nd, 2014 by posted in Capitalism, Economics, Health Care, Politics, Regulation.

Start with a simple proposition: America does not have a healthcare problem. The services provided are the best on this planet, and people from around the world travel to its hospitals and clinics to seek treatment. If they can afford

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My letter to the Wall Street Journal re: Central bankers cannot “buy time” for politicians

Tuesday, January 21st, 2014 by posted in Banking, Capitalism, Economics, Politics, Regulation.

Re: Euro Zone Must Defeat the Deflation Ogre, by Simon Nixon Dear Sirs: Simon Nixon does an admirable job of showing that “cronyism, corruption, and vested interests” are a greater threat to the Euro Zone nations that the so-called (by

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How Government Cutbacks Ended Sweden’s Great Depression

Monday, January 20th, 2014 by posted in Regulation, Socialism.
stockholm teaser

Reprinted from During the recent financial crisis, Sweden has emerged as one of very few financially sound economies. The country’s strong position, setting it apart from most Western nations, makes it an interesting example of what could — or

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Tens of thousands of Canadians flee Canada

Sunday, January 19th, 2014 by posted in Civil Liberties, Economics, Health Care, Politics, Regulation.

Canada is amongst the top countries in the world when it comes to safety and security. So what could be so bad that it enticed tens of thousands of Canucks to flee the country in 2013? How about socialized healthcare?


A Question for Ford Motor Company

Saturday, January 18th, 2014 by posted in Capitalism, Economics, Regulation, Trade.

Re: Ford threatens to leave Britain if Britain leaves the EU Would Steve Odell change his mind if, at the same time that Britain left the EU, it adopted unilateral free trade?  I don’t see why he would not (change

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The Dao of the Austrian Investor

Friday, January 17th, 2014 by posted in Economics, Lifestyle, Regulation.
chicago board of trade teaser

Reprinted from [The Dao of Capital: Austrian Investing in a Distorted World. By Mark Spitznagel. Wiley Press, 2013.] The economy is extremely complex. As Leonard Read taught, no single individual in the world knows how to make something as simple

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The CBC is no good, and is not a Public Good

Thursday, January 16th, 2014 by posted in Politics, Regulation, Socialism.
cbc teaser

“In the beginning was The Hockey. And The Hockey was with the CBC. And The Hockey was the CBC.” For almost all of us, “Hockey Night in Canada” was an essential part of growing up (or being grown up). It


Help a Real Victim of the Minimum Wage

Tuesday, January 14th, 2014 by posted in Capitalism, Economics, Education, Politics, Regulation.

It is easy to sympathize with 33-year-old Acsana Fernando. Since immigrating to Canada from Bangladesh as a refuge in 2002, she has struggled to find her footing. Bouncing from job to job trying to eke out a living, Ms. Fernando


Unemployment Benefits and the Disutility of Labor

Thursday, January 9th, 2014 by posted in Economics, Regulation, Socialism.
unemployment benefits

Nineteenth century American politician and newspaper editor Gideon Tucker once wrote, “no man’s life, liberty or property are safe while the Legislature is in session.” The quote has been popularly attributed to Mark Twain, and is invoked in polemics damning

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The problem with wind and solar as power sources

Wednesday, January 8th, 2014 by posted in Economics, Environment, Regulation.

Re: Renewable energy fiasco in Germany Here are the basics of electricity generation–it must provide either base power or on-demand power, and it cannot be stored.  Base power today is provided mostly by nuclear and coal plants and some hydroelectric. 


Bill de Blasio and his Horses

Tuesday, January 7th, 2014 by posted in Law, Philosophy, Regulation.

Stop me if you’ve heard this one before. A new political leader is swept into power. The voters, with their bleeding hearts and gleaming eyes, are ready for change. They want a great leap forward. “Out with the oppressive old,

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Fractional-“Collateral” Money Creation

Friday, January 3rd, 2014 by posted in Banking, Capitalism, Economics, Regulation.

Economists view the money creation process through two separate channels. Each has its own economic effects as well as risks. In the current fiat monetary system, central banks can increase the amount of base money through their open-market operations. The


China’s Failing One-Child Policy

Monday, December 30th, 2013 by posted in Capitalism, Economics, Regulation.
china one child teaser

Implemented in 1979 in a bid to alleviate social, economic and environmental problems in China, the country’s one-child policy was once heralded as a textbook example of good government policy. Faced with a reduction in the availability of health-care services

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A Simple Math Question for Bankers

Saturday, December 28th, 2013 by posted in Banking, Economics, Education, Law, Regulation.

Think back to your high-school math class, and reminisce about this question: “Train A departs from Union Station at noon travelling eastward to Halifax at a speed of 80km/hr. Train B departs three hours later from the same station travelling


Rogoff, Reinhart and Ricardian Equivalence

Tuesday, December 24th, 2013 by posted in Banking, Economics, Regulation.

The largest economics controversy of the year belonged to Ken Rogoff and Carmen Reinhart for their research describing the relationship between economic growth and government debt. Their research, based on their popular book looking at the striking similarities between recurring

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It’s Not About Rights

Saturday, December 14th, 2013 by posted in Law, Philosophy, Regulation.
hayes carney

The idea of a government-supplied basic income is, once again, making rounds. The proposal is even tugging on the ear of some so-called libertarians. And yet, a tax-financed income for all is nothing new in the realm of political discourse.

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A Christmas Gift for Torontonians

Saturday, December 14th, 2013 by posted in Economics, Politics, Regulation.

Do you shop at Home Depot? If so, then I have some good news for you this Christmas season. It turns out that Home Depot’s higher ups have decided to stage a big expansion in Canada. They are going to


My letter to the NY Times re: Free Market Capitalism Works Every Time

Thursday, December 12th, 2013 by posted in Economics, Regulation.

Re: Dwindling Tools to Raise Wages, by Eduardo Porter Dear Sirs: Economic law is a deductive and not empirical science, meaning that market research cannot determine the effects of raising the minimum wage.  We know by the laws of logical deduction

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