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Robert Reich Literally Doesn’t Understand the First Thing About Price of Labor

Sunday, March 22nd, 2015 by posted in Economics, Education.

Young people might think of Robert Reich as an annoying guy on the Internet who amasses an astonishing number of Likes and Re-Tweets, considering the number of fallacies in his social media posts. And yet, he actually has an impressive resume, having

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My letter to the NY Times re: Mr. Kuroda has put the cart before the horse

Friday, March 20th, 2015 by posted in Economics.

Re: Japan’s Central Bank Warns of Temporary Return to Deflation Dear Sirs: BOJ governor Kuroda and his supporters should question the very foundation of their beliefs that inflation is “…crucial to rekindling growth…” and that “a ‘deflationary mindset’ is behind

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The Federal Reserve Bank Must Be Destroyed!

Thursday, March 19th, 2015 by posted in Civil Liberties, Economics, Foreign Policy, Politics.

“Delanda est in Susidium Foederatum Bank” (The Federal Reserve Bank Must be Destroyed) During the years of the Roman Republic, Cato the Elder ended every speech with the phrase “Delanda est Carthago” (Carthage must be destroyed). Rome had fought two

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My letter to the NY Times re: False love affair with inflation

Wednesday, March 18th, 2015 by posted in Economics.

Re: Asia Rushes to Lower Rates, But Maybe Not Fast Enough by Neil Gough Dear Sirs: In the first two short paragraphs of his article Mr. Gough reveals the premise upon which his title depends. Since his premise is faulty, the

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World’s Oldest Central Bank Asks Paul Krugman To Shut Up

Tuesday, March 17th, 2015 by posted in Banking, Capitalism, Economics.

Reported from Zero Hedge About a year ago, everyone’s favorite easy money advocate Paul Krugman accused the world’s oldest central bank of turning Sweden into Japan by adopting a policy of “sadomonetarism.” The Riksbank, Krugman claimed, unnecessarily transformed itself from

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Conservatism Against Rolling Back the State

Monday, March 16th, 2015 by posted in Epistemology, Philosophy, Politics.

American historian Robert Conquest is getting up there in years. The Hoover Institution fellow is just three years shy of the big 1-O-O. Despite having received the Presidential Medal of Freedom (and various other awards from different countries), few people

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Who Will Regulate the Bank Regulators?

Monday, March 16th, 2015 by posted in Banking.

A fascinating report by Finn Poschmann from the C.D. Howe Institute discusses the history of bank regulation in the U.S., Canada, and U.K. It explains the movement away from shareholder liability in banks, towards the current system where taxpayers are ultimately on

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My letter to the NY Times re: Currency debasement destroys capital

Sunday, March 15th, 2015 by posted in Economics, Politics.

Re: Delight or Dread as Euro Falls Dear Sirs, Of all the economic fallacies perpetrated on the public by so-called “macro economists”, recommending currency debasement as the path to economic recovery and permanent prosperity may well be the most destructive.

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Upcoming Toronto Bitcoin Event

Wednesday, March 11th, 2015 by posted in Events.

For our Toronto readers, Tuesday March 17 at the MaRS Discovery District will be the first ever Decentralized Technology (DEC_TECH) event. Learn more here: http://www.meetup.com/DEC_TECH/events/220935201/?a=me1_grp&rv=me1&_af_eid=220935201&_af=event From the event description: DEC_TECH events will bring the Toronto community together to learn and discuss the growing space of

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A good lesson from Greece in the difference between private and public finance

Tuesday, March 10th, 2015 by posted in Banking, Capitalism, Economics, Politics.

From today’s Open Europe news summary (my emphasis): Greece to start technical talks with creditors tomorrow amid criticism that too much time is being wasted Eurozone finance ministers agreed yesterday that officials from the Greek government and the EU/IMF/ECB Troika

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In Further Defense of Political Dynasty

Tuesday, March 10th, 2015 by posted in Philosophy, Politics.

When the chatter heads in Washington are uptight about something, you can usually bet it’s good. The recent brouhaha amongst the political class was sparked by a Washington Post column trollishly titled “In Defense of Political Dynasties.” Written by George

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How not to win friends!

Monday, March 9th, 2015 by posted in Capitalism, Economics, Foreign Policy, Politics, Socialism.

From today’s Open Europe news summary: Greek Defence Minister: We’ll flood Europe with refugees if Greece is ‘hit’ by Germany; Speaking at a meeting of Independent Greek MPs yesterday, party leader and Greek Defence Minister Panos Kammenos argued that “If

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The Threat to the Dollar as the World’s Primary Reserve Currency

Saturday, March 7th, 2015 by posted in Economics, Politics, Trade.

(Following is the text of a speech given today at Drake University at the annual convention of the Iowa Association of Political Scientists.)   The Threat to the Dollar as the World’s Premier Reserve Currency …but does it really matter?

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Since When Is Honduras a Libertarian Paradise?!

Friday, March 6th, 2015 by posted in Capitalism.

It’s probably a good sign that the attacks on libertarianism are getting even more ridiculous. A recent Salon piece by Edwin Lyngar claims that his recent trip to Honduras proves that the principles espoused by people like Ayn Rand and

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My letter to the NY Times re: Japan’s Solar Mandates Lack Free Market Coordinating Function

Friday, March 6th, 2015 by posted in Economics, Regulation.

Re: Japan’s Growth in Solar Power Falters as Utilities Balk Dear Sirs: One of the prime reasons for the failure of Japan’s solar power initiatives is the government’s ignorance of the coordinating function of the the free market. The article

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Does Walmart Prove Minimum Wage Laws Will Help Workers?

Thursday, March 5th, 2015 by posted in Economics.

In a recent column Paul Krugman has one of the most curious arguments supporting the minimum wage that I’ve ever seen from a professional economist: A few days ago Walmart, America’s largest employer, announced that it will raise wages for half

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My letter to the NY Times re: Keynesian macro economists are confused

Wednesday, March 4th, 2015 by posted in Economics.

Re: Saving Big on Energy Bills, People Take It to the Bank, by Nelson D. Schwartz Dear Sirs: Keynesian school macro economists may be scratching their heads that the spending numbers that they hold so dear are not increasing, but

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First Call for Papers for ICPM 2015!

Tuesday, March 3rd, 2015 by posted in Announcements.

The Mises Institute of Canada, along with its scholarly publication the Journal of Prices and Markets (http://pricesandmarkets.org/), is hosting the 4th annual International Conference of Prices and Markets is being held November 6th-7th 2015 in Toronto, Ontario! Consider this announcement

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Water Rights and Chinatown

Tuesday, March 3rd, 2015 by posted in Politics, Regulation, Socialism.

Does a warning mean anything if nobody listens? With the precarious case of Lake Mead, doomsayers never seem to break the surface. For years, reports of the lake’s declining levels have popped up in the news. Yet residents of the

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Paul Krugman Is the Brian Williams of Economics Bloggers

Sunday, March 1st, 2015 by posted in Economics.

Paul Krugman knows a lot of economic theory and is a very clever writer, but you should never ever trust him to recount tales of battles between Keynesians and other schools of thought. His misrememberings in this realm are so

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