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Lies for Empire

Tuesday, July 29th, 2014 by posted in Foreign Policy, Politics, Regulation.

In his provocative cover story “Why Liberalism Means Empire” for The American Conservative, Daniel McCarthy makes a rather astounding claim: that liberalism, or rather laissez faire secular order, needs a state hegemon to be long-lasting. I call this argument astounding because

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Six Current Economic Myths and Realities

Tuesday, July 29th, 2014 by posted in Economics, Education.

The following are six of the most prevalent economic myths that appear time and again in the mainstream media.  I will give a brief description of each and a brief description of the economic reality, as seen from an Austrian

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I’m Shocked! Shocked!

Tuesday, July 29th, 2014 by posted in Economics, Politics.

From today’s Open Europe news summary: In its quarterly report, the Greek Parliament’s State Budget Office has warned that Greece will require a third bailout package to avoid a default, and that despite capital injections, the problems of the country’s banks

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Mathematical Economics vs. “Literary” Economics?

Monday, July 28th, 2014 by posted in Economics.

Famed Chicago economist John Cochrane has recently returned from a seminar at the National Bureau of Economic Research (NBER, the organization tasked with determining whether the economy is in a recession or not, and where Ludwig von Mises was employed

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Easy Money Blood Thinners

Monday, July 28th, 2014 by posted in Banking, Capitalism, Economics.

Reprinted from the Pembroke Observer Since the collapse of Lehman Brothers investment bank in 2008, central banks around the world have created trillions of additional dollars, yen, euros and renminbi. In the immediate aftermath of Lehman’s bankruptcy other banks, unsure

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Distinguishing “Land” From “Capital Goods”

Saturday, July 26th, 2014 by posted in Economics.

Gene Callahan asks why Austrian economists distinguish between “land” and “capital goods” as separate factors of production.  It’s an interesting question. In the present post, I’ll go over the prima facie reasons one would be tempted to abandon the classical

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Governments Collude to Fleece the World

Friday, July 25th, 2014 by posted in Capitalism, Economics, Politics.

Re: Luxembourg tax regime under siege This recent article by Vanessa Houlder of the Financial Times, London, details the economic success that Luxembourg has enjoyed by keeping its business tax rates at a moderate level and the threat to that success

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Metal Machine Parenting

Friday, July 25th, 2014 by posted in Lifestyle, Regulation.

It’s the stuff of nightmares. Metal demons frankensteined into being for the purpose of molding children’s behavior to fit the government’s definition of “acceptable.” Is this the plot of a low-budget 1950s science fiction film? Am I going to wake

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Mises Canada’s Emerging Scholar Program

Thursday, July 24th, 2014 by posted in Announcements, Education.

Do you like to write about the economy? Does central banking get you down? Do you have career ambitions in academia or finance? Do you like to write about economics? Then apply to Mises Canada’s Emerging Scholar Program! The Emerging

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On Mises’ Definition of the Term “Inflation”

Thursday, July 24th, 2014 by posted in Economics.

Lately an old controversy has flared up again, but with an interesting twist. Literally for decades, followers of Ludwig von Mises have lamented the fact that the word “inflation” now generally means “an increase in (consumer) prices,” whereas historically it

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Are Libertarians Pacifists?

Thursday, July 24th, 2014 by posted in Philosophy.

For most libertarians, the central tenet governing all politically philosophy is the Non-Aggression Principle (NAP). The NAP states that we must never use force against another person, except in the prevention of force itself. By consistently applying the NAP, as

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From the “You can’t make this stuff up” department

Wednesday, July 23rd, 2014 by posted in Economics.

Re: EU threatens Germany with fine for running too large a surplus Ambrose Evans-Pritchard of the Daily Telegraph reports that the International Monetary Fund is criticizing Germany for running too large a trade surplus with the other European Monetary Union states

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Canada Versus Crooners

Wednesday, July 23rd, 2014 by posted in Regulation.

Government regulations destroy  many things that are important to us. Licensing laws prevent us from practicing our chosen profession. Taxes rob us of our hard earned money. Lately, the food police have been trying to take away our most cherished,

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The Decline of Influence

Tuesday, July 22nd, 2014 by posted in Foreign Policy, History, Philosophy.

The world is seemingly aflame in chaos right now. The Israeli military has invaded the Gaza strip after the breaking of an 18-month cease-fire agreement. Which side broke the accord is still an open question. A commercial airliner was shot

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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 Danger of Analogy

Monday, July 21st, 2014 by posted in Philosophy.

In the employment of analogy, one must always exercise extreme caution. A bad analogy is apt to lead the reader away from the salient point, and down any number of blind alleys leading to false conclusions. A prime example of

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My letter to the Financial Times, London re: Eurozone needs quantitative easing

Monday, July 21st, 2014 by posted in Economics.

Re: Eurozone needs quantitative easing Dear Sirs: All the so-called benefits that you expect the eurozone countries to derive from a European Central Bank program of quantitative easing are myths.  Myth number one: QE will spur an economy to greater production.

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Krugman: CBO Doesn’t Know How to Read Its Own Report

Sunday, July 20th, 2014 by posted in Economics.

Paul Krugman reads the latest long-term forecast from the US Congressional Budget Office (CBO) and he likes what he sees. Even though the nearby graph is the CBO’s projections for the growth of federal debt, Krugman nonetheless offers this rosy

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Continuing My Chats With Noah Smith

Saturday, July 19th, 2014 by posted in Economics.

Economist Noah Smith has fired another volley against Austrian economics, in response to my Mises Canada defense against his original attack featured on Bloomberg. Much to my surprise, several of my followers asked that I answer Noah yet again. I thus

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MH17 Madness

Saturday, July 19th, 2014 by posted in Civil Liberties, Economics, Events.

The more things change, the more they stay the same. The furor over the downing of MH17 has brought forward the predictable public ire. Blood for blood seems to be the most advocated solution now, and politicians in the Western

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