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I’ll punish you by starving my own people

Thursday, August 7th, 2014 by posted in Economics.

Re: Russia bans food imports from US and EU Putin has banned food imports from the US, EU, Canada, and Japan.  He is waging war against his own people in the misguided view that it is money that people desire and

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How Group Identities Endanger Freedom

Wednesday, August 6th, 2014 by posted in Philosophy.

There is a verbal sleight of hand practiced in politics so frequently that even the champions of free markets tend to fall into its trap. It is a fallacy of composition relating to the misidentification of a group with its

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On Krugman’s Arrogance

Monday, August 4th, 2014 by posted in Economics, Epistemology.

Economist Paul Krugman’s New York Times column dropped off my reading list months ago. His conscious effort to become a kind of parody of himself, a holier-than-thou hero fighting off the scourge of ignorant free marketeers, was too much of

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Review: The Murder of the Middle Class

Monday, August 4th, 2014 by posted in Politics.

Wayne Allyn Root’s latest book, The Murder of the Middle Class, is the latest in a long line of political books pointing out the obvious shortcomings of the Obama administration and of progressive policies in general. In this respect, it

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Trade does not need to be managed

Monday, August 4th, 2014 by posted in Economics, Trade.

From today’s Open Europe news summary: Writing in the Telegraph, London Mayor Boris Johnson argues that “It is clear that 25 years ago we made a miscalculation about one of the consequences of EU enlargement. We were right to want to

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My letter to USA Today re: John Waggoner’s Sleight-of-Hand

Saturday, August 2nd, 2014 by posted in Law.

Dear Sirs: John Waggoner perpetrates a sleight-of-hand on his readers when he equates investing with gambling in regard to Paul Singer demanding repayment of his Argentine bonds.  Investing is ruled by law, and Mr. Singer is demanding that the law be upheld.

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London’s press jumps on QE bandwagon

Friday, August 1st, 2014 by posted in Banking, Capitalism, Economics.

First the Financial Times and now the Economist have jumped on the quantitative easing (QE) bandwagon and called for the European Central Bank to embark on a policy of buying assets in the open market at above market prices–with printed money, of course.  What

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Argentina: Another Keynesian Success Story That Wasn’t Their Fault

Thursday, July 31st, 2014 by posted in Economics.

On July 30 S&P declared Argentina’s government technically in default on $13 billion of its sovereign bonds that were restructured after the government’s previous default back in 2002. Inasmuch as several of the world’s major Keynesian bloggers never tire of pointing

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I’ll punish you by starving myself!

Thursday, July 31st, 2014 by posted in Economics, Politics.

A quote from one of the news summaries found on Open Europe today: “Russia also announced a ban on some fruit and vegetables imports from Poland, and is considering expanding the ban to the entire EU.” I doubt that Putin

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Cultonomics and the Austrian School

Thursday, July 31st, 2014 by posted in Economics, Epistemology.

Mainstream economists have long derided the Austrian School as a “cult”. Professor Walter Block recounts stories from Nobelists Gary Becker and James Buchanan off-handedly referring to the cultish Austrians. When pressed by Professor Block, Becker said, “By a cult I

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Nothing has changed in over two hundred years

Wednesday, July 30th, 2014 by posted in Economics, Politics.

From Edmund Burke’s Reflections on the Revolution in France. (Just substitute “dollar” for “assignats“.  Nothing has changed.) “Assignats.  Is a fleet to be fitted out?  Assignats.  If sixteen millions sterling of these assignats forced on the people leave the wants of the state

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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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