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Three questions for Andrew Haldane, chief economist at the Bank of England

Friday, September 25th, 2015 by posted in Economics.

Re: From ZIRP TO NIRP by Alasdair Macleod 1. What exactly is wrong with price deflation? 2. In a world of increasing productivity, are not lower prices inevitable? 3. Are not lower prices beneficial, in that all society enjoys an increasing

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The Righteous Bosses of the New Deal

Thursday, September 24th, 2015 by posted in Economics, History, Regulation.

[The Roosevelt Myth (1948)] Reprinted from There never has been in American politics a religion so expansively and luminously righteous as the New Deal. From the beginning to the end it was constant in one heroic enterprise — war

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Free banking vs the real bills doctrine

Monday, September 21st, 2015 by posted in Banking.

The problem with the “real bills” doctrine Re: Free banking vs.the real bills doctrine I wrote the letter below to Don Boudreaux of Cafe Hayek. Under the real bills doctrine banks would be allowed to create demand deposits backed by

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September Toronto Mises Meet!

Thursday, September 10th, 2015 by posted in Uncategorized.

Join Mises Canada on THURSDAY, September 24 for our monthly Mises Meet! Chat with fellow lovers of liberty and Austrian economics, libertarian theory, current dastardly political events, and liberty-promoting technologies. Speaking of liberty-promoting technologies, this month our special speaker will

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Third Annual International Conference of Prices & Markets: Papers & Proceedings

Wednesday, September 9th, 2015 by posted in Announcements, Economics, Events.

On November 7-8, 2014, the Ludwig von Mises Institute of Canada hosted the 3rd annual International Conference of Prices & Markets (formerly the Toronto Austrian Scholar’s Conference). The event took place at the University of Toronto, and held an opening reception the

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My letter to the Philadelphia Inquirer re: the crude oil export ban

Sunday, September 6th, 2015 by posted in Capitalism, Civil Liberties, Economics, Mises on Policy, Politics.

Re: Debate swirls over lifting crude-oil export ban Dear Sirs: The answer to your headline question on the front of Sunday’s business section is self-evident. The crude oil export ban cannot be justified on any economic or moral basis. It

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My letter to the NY Times re: New icebreakers to the Arctic for what purpose?

Thursday, September 3rd, 2015 by posted in Economics, Environment, Politics.

Re: Obama Calls for More Coast Guard Icebreakers to Gain Foothold in Arctic Dear Sirs: President Obama’s call for Congress to fund new icebreakers for the Arctic is troubling. Whereas, most nations of the world see the receding icecap as

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Yes, you do understand economics!

Thursday, September 3rd, 2015 by posted in Economics.

The following conversation between my good friend Michael McKay and a friend of his illustrates that we all understand and use economic principles every day. In fact we could  not function without understanding these basic economic principles. Pat Barron  

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The Telegraph condemns QE (sort of)

Wednesday, September 2nd, 2015 by posted in Banking, Capitalism.

The Telegraph last week printed a very muddled article by Jeremy Warner entitled “Jeremy Corbyn’s plan to turn Britain into Zimbabwe” that unintentionally made the case against the quantitative easing that is destroying market economies around the globe. Corbyn, who

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The implications of a reduction of Chinese holdings of US government debt

Sunday, August 30th, 2015 by posted in Economics, Politics.

Dear Readers, Below is my response to a reader of my blog, who asked about the implications of China reducing its holdings of US treasury debt. Pat Barron Dear Lawrence, I think that in the simplest terms, China is exiting

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My letter to the Financial Times, London re: The FT sides with counterfeiters and confiscators

Friday, August 28th, 2015 by posted in Banking, Civil Liberties, Law, Regulation.

Re: The case for retiring another barbarous relic Dear Sirs: I was appalled at your supposed “case” for eliminating cash, which you yourselves describe as the peoples’ “go-to safe asset”. And what IS your case? One, “cash…limits the central banks’

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My letter to The Times, London re: Legal tender laws protect unsound money

Thursday, August 20th, 2015 by posted in Economics, Law, Politics, Regulation.

Dear Sirs: I will not take the time required to refute point-by-point Mr. Ed Conway’s latest attack upon a gold-backed currency. It is obvious that he is completely ignorant of monetary theory and history. Rather, I will ask Mr. Conway

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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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Trump: The Art of the Bureaucrat

Monday, August 17th, 2015 by posted in Mises on Policy, Politics.

Donald Trump says America’s problems are managerial. The political class is “stupid,” and “horrible negotiators.” He can fix the country’s problems instantaneously with his own entrepreneurial ability and by drafting into government service the likes of multi-billionaire Carl Ichan. Trump


Austrians vs. The World On Canadian Fiscal Austerity

Thursday, August 13th, 2015 by posted in Economics.

I don’t know whether this is something the average Canadian discusses over coffee, but the sharp fiscal turnaround in the mid-1990s is still providing fodder for today’s economists to argue. In September 2014, I summarized the Canadian budget triumph, in


Oh, the horror of cheaper Chinese goods!

Wednesday, August 12th, 2015 by posted in Economics, Politics, Regulation, Socialism, Trade.

Re: Cheaper Chinese Currency Has Global Impact China’s money dictators have decided to put all Chinese exports on sale, allowing people in foreign countries to buy more Chinese goods for the same amount of local currency or invest in any

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Krugman Unwittingly Makes the Case for Cutting Government Spending

Monday, August 10th, 2015 by posted in Economics.

Ah, it was so much easier to be a Keynesian before the Internet remembered everything… From 2010 through 2013, Paul Krugman had been hitting his New York Times readers with two main points: (1) The U.S. government was irrationally turning towards fiscal


Gold Prices Disprove Krugman

Friday, August 7th, 2015 by posted in Economics.

Recently Krugman wrote an op ed ridiculing Ron Paul titled, “The Old Man and the CPI.” (In case you don’t get the reference, he’s alluding to Hemingway.) Ron Paul has responded in this video, but I want to focus on

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QE is “Not on the Table,” says Joe Oliver

Thursday, August 6th, 2015 by posted in Politics.

In a world where central banks are given free rein over the supply of money and credit, and where any examination of these secretive institutions is considered interference with their “independence,” Finance Minister Joe Oliver’s comments about QE have not

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Reminder: Patent Trolls Are Not the Worst Thing About Intellectual Property

Wednesday, August 5th, 2015 by posted in Uncategorized.

Patent trolls are companies whose entire business model is to file patent suits against legitimate businesses, in order to extort them for money. Patent trolls are bad. However, they are not the worst thing about the current intellectual property regime.