L’externalité, le bien public, et l’intervention de l’État

Wednesday, August 19th, 2015 by posted in Capitalism, Economics, Education.

Un argument classique en faveur de l’intervention de l’État dans l’économie consiste à stipuler qu’il faut corriger les « échecs du marché ». Sans grande surprise, les économistes contemporains en dénombrent plusieurs. Je veux ici présenter deux exemples analytiquement similaires de ces

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Don’t Call it a Recession!

Thursday, July 30th, 2015 by posted in Politics.

“But pretty soon the word “recession” also became too harsh for the delicate sensibilities of the American public. It now seems that we had our last recession in 1957–58. For since then, we have only had “downturns,” or, even better,

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Stephen Poloz’s Zen Moment

Thursday, July 16th, 2015 by posted in Economics, Politics.

To cut or not to cut, that is the question. And fortunately for Bank of Canada Governor Stephen Poloz, it was a pretty easy question. A lagging US recovery, China’s downturn, lower oil prices and “bad weather” all contributed to

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The Logic of Interventionism, or How to Wake up in a Prison

Wednesday, July 1st, 2015 by posted in Capitalism, Economics.

Reprinted from Archaic Financial Freedom The mainstream press is still full of articles about the alleged evils of cash, which we regard as a typical “trial balloon” launched by the powers-that-be. The way this works is that they get

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The Truth in Non-Intellectuals

Wednesday, May 7th, 2014 by posted in Foreign Policy, Politics, Regulation.

According to a new poll conducted by the Wall Street Journal and NBC News, average Americans are becoming increasingly wary of Uncle Sam’s prominent role in global affairs. Almost half of those surveyed want Washington to be “less active on

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DS joins Mises Canada

Tuesday, April 15th, 2014 by posted in Uncategorized.

Interest in the Austrian School of Economics and the work of Ludwig von Mises has been on the rise for some time, and happily, this trend seems to be continuing, as can be seen, among other things, from the spread

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Thankful for the Iran Deal

Saturday, November 30th, 2013 by posted in Foreign Policy, History.
Food items are placed in trolleys as customers stand in line to pay for their goods in Tehran

It’s the time of the year when families gather and reminisce on what they are thankful for. Unfortunately, the message of Thanksgiving has become a clichéd sentimentality in our culture of surface-level entertainment. Still, it’s one worth revisiting from time

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Mark Carney’s False Ideology

Mark Carney

Neil Macdonald of the CBC recently did an investigative piece on central bankers and what they’re doing to the world’s economies. Mark Carney was featured heavily. He told Macdonald, “there is no secret cabal orchestrating things,” despite CBC’s own findings

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The Ontario Teacher’s Ponzi Plan

Tuesday, October 16th, 2012 by posted in Economics, Education.

The 21st century has been one marked by low interest rates and even lower real interest rates. In response to the dot-com crisis of 2001 Western governments embarked on a policy of low interest rates in order to stimulate the


The Economics of Gambling

Tuesday, March 27th, 2012 by posted in Capitalism, Lifestyle, Regulation.
Lucky Dice

Just a few days ago the US Department of Homeland Security seized and shut down the Canadian sports gambling site  Bodog did not have any American clients, and thought that they had removed all legal liability from US laws

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Sorry Matt, You Don’t Know What Austrian Econ Is

Sunday, January 8th, 2012 by posted in Capitalism, Economics.

Keynesian blogger extraordinaire Matt Yglesias’ new Slate article is yet another attempt from a mainstream econ pundit to delegitimize the Austrian school by misrepresenting key aspects and its applicability to the crisis today.  Robert Wenzel has already done a superb

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Just Another Case of Law Shirking by Desperate Politicians

Sunday, January 1st, 2012 by posted in Law.

As the Republican presidential candidate primary elections heat up, it looks like another case of “the law is flexible for me and not you” has made an appearance.  From CBS News: FORT DODGE, Iowa – Texas Gov. Rick Perry, former

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Jim Rogers and Marc Faber 2012 Predictions

Tuesday, December 27th, 2011 by posted in Capitalism, Economics.

Often the only two Austrian-minded investors with a clue, both Rogers and Faber see the same things coming in 2012: more government spending, more debt accumulation, another economic downturn, and, of course, more money printing. [youtube_sc url=] Australia Financial

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Extreme Financial Interconnectedness- Is It A Problem?

Tuesday, December 20th, 2011 by posted in Economics.

A recently released research paper from a number of economists titled “Econometric Measures of Connectedness and Systematic Risk In The Finance and Insurance Sectors” contains this interesting graphic highlighting the substantial increase in financial interconnectedness over the past 15 years

Comments are off for this post Christmas Savior or Grinch

Wednesday, December 14th, 2011 by posted in Capitalism, Economics, Uncategorized.

One of the key lessons in economics is recognizing the difference between what is good for the producer and what is good for the consumer.  Those who decry “unfair” business practices often do so in order to gain special privileges

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Brazil Changes Measure To Underscore Inflation (Print More)

Wednesday, December 7th, 2011 by posted in Capitalism.

Via Bloomberg Businessweek (h/t Redmond Weissenberger) A change in the way Brazil gauges inflation will help the central bank near its targets, enabling it to keep cutting interest rates, said Guilherme Figueiredo, hedge fund director at M. Safra & Co.Figueiredo’s

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New Bloomberg Info On Fed Bailouts

Monday, November 28th, 2011 by posted in Capitalism, Economics, Politics.

Last August, Bloomberg news released some uncovered details from its hard fought “Right to Know” request it launched against the Federal Reserve and its actions during the heat of the financial crisis.  Though lauded with praise by numerous media outlets,

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Chairman of AIG Defends Wall Street Bailout

Thursday, November 17th, 2011 by posted in Uncategorized.

Stop me if you have heard this one before-“Wall Street needed bailed out or else the world economy would have gone over a cliff.”  That’s it, end of story.  The possibility that anything but grey skies and storm clouds waited

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Frum Drinks the Kool-Aid

Frum Mug

A recent statement by David Frum has been making the rounds on the internet recently that should give everyone pause: Imagine, if you will, someone who read only the Wall Street Journal editorial page between 2000 and 2011, and someone in

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What’s Really Wrong with the Healthcare Industry

Wednesday, September 28th, 2011 by posted in Capitalism, Economics, Health Care, Intellectual Property, Law, Regulation.
Uncle Sam is Sick

Originally Posted on, Wednesday, May 26th, 2010. On May 3, 2010, I gave a talk to a class of students studying public health policy at the University of Washington. I began the talk by asking the students how many