Last spring, I went to put a set of summer tires on my vintage BMW alloy wheels, but this routine operation did not turn out as planned. The e-mail below gives a fairly complete account of the event. I sent
free trade
Should We Trust Economists?
We live in a complex world. So logically we need complex solutions to our problems, right? Not according to certain people; according to them, we just have to follow the advice of economists. That way, most of our problems would
On the Freedom Of Movement
[This article is excerpted from Liberalism, Chapter 3] 8. Freedom of Movement Liberalism has sometimes been reproached on the ground that its program is predominantly negative. This follows necessarily, it is asserted, from the very nature of freedom, which can
Why Free Trade Matters
[This article is excerpted from Liberalism, Chapter 3] 7. Free Trade The theoretical demonstration of the consequences of the protective tariff and of free trade is the keystone of classical economics. It is so clear, so obvious, so indisputable, that
Why Colonialism Ends
[This article is excerpted from Liberalism, Chapter 3] 6. Colonial Policy The considerations and objectives that have guided the colonial policy of the European powers since the age of the great discoveries stand in the sharpest contrast to all the
The Political Foundations of Peace
[This article is excerpted from Liberalism, Chapter 3] One would think that after the experience of the World War the realization of the necessity of perpetual peace would have become increasingly common. However, it is still not appreciated that everlasting
Harper and Real Free Trade
Last February while Prime Minister Stephen Harper was visiting Beijing, he and China President Hu Jintao made great strides in establishing a trade agreement known as Canada-China Foreign Investment Promotion and Protection Agreement (FIPA). On September 9, 2012 the deal
The Only International Economic Policy that a Country Needs: “Mind your own business and set a good example”
The international economic scene is dominated by state interventions at all levels. Daily we read of disputes over exchange rate manipulation, protectionist tariffs followed by retaliatory tariffs, highly regulated free trade blocs that erect trade barriers to non-bloc nations, bilateral
Tariffs as Welfare State Economics
Reprinted from LewRockwell.com (for Mises.ca readers, substitute “America” with “Canada” as economic laws aren’t limited by arbitrary national boundaries) I have found over the years that when I debate with people who promote tariffs, meaning sales taxes on imported goods
Lies, Special Interests and Plastic Bags
The environmental movement continues its jack-booted march down the road to serfdom. I normally wouldn’t mind, except that they’re taking us all with them. Before I get in to the meat of this article I think it would help for
The Systematic Organization of Hatreds
Originally posted at The Beacon blog of the Independent Institute on 5/5/2012 In the mid-1970s, I began to do consulting work in addition to my academic work. By that time, I had become familiar with how economists generally analyze cooperation
Who Needs One Big Market?
[Originally published as an Independent Institute Research Article, March 18th, 2009] I. One Big Market It is remarkable that the prospect of One Big Market—planetary, inescapable, open all hours—raises no questions for libertarians, who scorn the idea of One Big
What is Laissez-Faire?
[Originally posted at The Daily Reckoning, Sunday, December 18th, 2011] The latest data show that book sales are way up this season. So much for the prediction that books will be killed by technology. On the contrary, technology has enabled
Flaherty Eliminating Tariffs
From Reuters (ht Mark Perry): Canadian Finance Minister Jim Flaherty said on Sunday the government would eliminate tariffs on dozens more products used by Canadian manufacturers, aiming to lower their costs and encourage more hiring.The initiative would scrap custom duties
Why Was There No Canadian “Civil War”?
Some Canadians seem prone to assume that all the fire and brimstone of North American history was naturally in the U.S., while the genteel “peace and good government†tradition equally as naturally informed the more sedate history of Canada. Yet,
Can Precious Metals Save Your Portfolio?
With the recent market turmoil, investors of all types are increasingly turning to an asset class that has been out of favour for decades; precious metals. Gold in particular is attracting serious attention. In recent months we’ve seen Bill Gross
Fundamental Economic Concept Lost in Translation
The principle of comparative advantage is one of the fundamental insights of economics. In everyday language, this principle teaches us that we can produce more goods in total if each of us specializes in the production of a product he
The Case of Algeria
Having been totally unaware of the socio-economic strife occurring in two North African countries since the end of 2010, I was surprised to hear an NPR broadcast concerning this topic on January 11th. What I wasn’t surprised about was the
Ten Great Economic Myths
Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an
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