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Scott Sumner Skeptical of Heterodox Views, Unless They’re His

Monday, September 1st, 2014 by posted in Economics.

In a recent post at EconLog, Scott Sumner–one of the leading economists for “market monetarism”–lamented the “intellectual decay” (his term) of both sides in our polarized policy debates. Yet ironically, Sumner ended up destroying the foundation for his own brand

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Jared Bernstein Confirms That Austrians Aren’t Paranoid

Sunday, August 31st, 2014 by posted in Economics.

For years a growing number of self-identified Austrians have been warning that the USD’s days as the world’s reserve currency are numbered. For example, I myself recently wrote: I believe that the U.S. dollar, U.S. Treasuries, and the U.S. stock

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The Cycle of Dependency Can be Broken

Sunday, August 31st, 2014 by posted in Economics, Politics.

People respond to incentives. We all know this, and it is the basis for a great majority of economic policy decisions. The behavioralist school has increasingly argued in favor of “nudge” policies to induce people to behave as government would

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The War on Airbnb

Friday, August 29th, 2014 by posted in Capitalism, Economics.

The web startup Airbnb is finding itself in hot water lately. A peer-to-peer service that matches renters with rentiers, the company is under attack by entrenched lodging businesses such as hotels. It’s easy to see why. The company, which is

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Contra Krugman, Europe Shows Benefit of Lean Government

Friday, August 29th, 2014 by posted in Economics.

The great thing about Paul Krugman is that you just need to let him tie the rhetorical noose with which he hangs himself. The funniest example is when he asked a group of Canadians in a live forum whether they liked


Flight of the Liberals

Thursday, August 28th, 2014 by posted in Capitalism, Economics.

Voting with your feet has long been an important part of the democratic process. When the laws of a town, state or even country become oppressive, citizens should be free to leave and seek more favorable conditions elsewhere. Yet while

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An Intuitive Guide to Intellectual Property

Thursday, August 28th, 2014 by posted in Economics, Intellectual Property.

These days, everyone and their mother seems to have an opinion on intellectual property. This has its positives and negatives. The positives are that the more people are aware of the issues affecting society, the more likely they are to

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Want to Hurt Pensioners? Expand Public Pensions

Thursday, August 28th, 2014 by posted in Capitalism.

Ask yourself the following questions. Do you feel as though you have insufficient funds to retire? Would you like to have more money for your retirement? Would you like the government to provide more savings programs or income supports for

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IMF: Risk of Another Housing Crash

Wednesday, August 27th, 2014 by posted in Banking, Capitalism, Economics.

The International Monetary Fund is warning that the world is at risk of “another devastating housing crash.” This is true for instance for Australia, Belgium, Canada, Norway and Sweden,” he said. In the wake of the global recession central bankers

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CBO Thinks Millions of Americans Aren’t Going to Sign Up for “Affordable” Care

Tuesday, August 26th, 2014 by posted in Economics, Health Care.

In June the U.S. Congressional Budget Office (CBO) updated its forecasts regarding the “individual mandate” component of the Affordable Care Act (ACA), also known as “ObamaCare.” Recall that the individual mandate is the tax levied on Americans who commit the

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Check out Mises Cuba

Monday, August 25th, 2014 by posted in Economics, Education.

Mises Institutes are popping up all over the world! A recent article at Forbes highlighted this worldwide movement. Check out one of the newest: Mises Cuba!

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Poloz is Gonna Leave ‘em Low

Monday, August 25th, 2014 by posted in Economics.

As Janet Yellen talked about the possibility of raising interest rates, Poloz’s comments followed with a definite no. We’re already bumped up to 1% and Canadian markets tend to react to American news anyway. Instead adding more speculative fire to

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The Happiness Problem

Monday, August 25th, 2014 by posted in Economics, Philosophy.

In the ongoing march of scientism, the flawed worldview that everything in life is ultimately reducible to numbers and equations, researchers have been increasingly interested in attempting to measure people’s happiness in order to determine which economic and social policies

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Fifth Austrian Conference – November 17, 18th, 19th

Sunday, August 24th, 2014 by posted in Economics, Education.

Special Announcement – Fifth Austrian ConferenceWe are thrilled to inform you that –besides our outstanding list of Key Note Speakers( – the following scholars have already confirmed their presence at the FifthInternational Conference “The Austrian School of Economics in the

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Quebec Unions Fight Tooth and Nail for their Lavish Pension Plans

Sunday, August 24th, 2014 by posted in Politics, Regulation.

When unions see/feel that their “entitlements” are “under attack”, they fight tooth and nail to keep them. We saw how ugly it can become in Michigan in the midst of the debate for right-to-work. However, it’s likely to be very

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CBO Keeps Reducing Its Estimate of ObamaCare Benefits

Sunday, August 24th, 2014 by posted in Economics, Health Care.

I’ve been following the wonkish analysis of the Affordable Care Act–abbreviated as the ACA or often referred to as “ObamaCare”–from the beginning. I’ve noticed that even though most Americans think it grants “universal coverage” the same way that anybody can walk

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Judgement in Ferguson

Saturday, August 23rd, 2014 by posted in Civil Liberties, Politics, Regulation.

The Wall Street Journal recently ran an article on the misinterpretation of classic Shakespeare line: “The first thing we do, let’s kill all the lawyers.” Uttered by Dick the Butcher in “Henry VI, Part 2,” the phrase is interpreted as

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What Does Bitcoin Mean for Austrian Money Theory?

Friday, August 22nd, 2014 by posted in Economics, Philosophy.

Libertarians tend to agree with each other on most things. We all favor less government regulation, lower taxes, less involvement in international conflicts, and more personal freedom. There are a few areas, however, in which the movement remains sharply divided.


What If We Could Sell Our Kidneys?

Friday, August 22nd, 2014 by posted in Economics, Health Care, Law, Politics, Regulation.

According to the Kidney Foundation of Canada, one in 10 Canadians has kidney disease. Moreover, the number of Canadians being treated for kidney failure has tripled in the past two decades – and each day, 16 people are added to

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Banks Can Perform Their Two Functions With 100% Reserves

Thursday, August 21st, 2014 by posted in Banking, Economics.

In a recent post at Forbes, John Tamny made some very strong claims against the Austrian School. In the present post, I want to push back on just one of his points (though I think there are several problems with