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Is There Such a Thing as a Shameful Job?

Sunday, March 30th, 2014 by posted in Economics.

For individuals living in poverty, the government guarantees a minimum standard of living through the provision of social assistance. Poverty reduction may be a strong argument in fav Larissa Flister is an economist and graduate student at the University of Regina,

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Exceptionalism as a Foreign Policy Justification

Sunday, March 30th, 2014 by posted in Foreign Policy.

American exceptionalism is a common theme in any policy debate surrounding the United States. We have to protect American manufacturing, protectionists ignorant of economics argue, because America is exceptional. We have to pass expansive welfare programs to care for the

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A Lifeboat for Jerome Murdough

Saturday, March 29th, 2014 by posted in Capitalism, Politics, Regulation.

In his Ethics of Liberty, libertarian theorist Murray Rothbard makes short work of popularly employed “lifeboat situations.” Devising untenable situations to trip up ideologues is a common tactic of debaters (admittedly, I am prone to the same behavior from time

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Privatize Outer Space!

Friday, March 28th, 2014 by posted in Economics.

“The Planetary Society” is trying to whip up public action in the United States to pressure the federal government to restore spending programs for NASA. The website tells the reader, “For decades, Jupiter’s moon Europa has cried out for exploration.

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How the Food Police Undermine Human Intentionality

Friday, March 28th, 2014 by posted in Philosophy, Regulation.

One of the key things that separates humans from animals is the ability to make plans and then act on those plans. That humans have intentions is the basis of all morality, economics, and law. As such, it is important

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The wages of public control of the economy

Friday, March 28th, 2014 by posted in Capitalism, Economics, Environment, Foreign Policy, Politics.

From today’s Open Europe news summary: German Energy Minister warns that there is “no reasonable alternative” to Russian gas German Minister for Economic Affairs and Energy, Sigmar Gabriel, yesterday warned that there is “no reasonable alternative” to Russian gas imports,

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The New Deal for the Youth?

Thursday, March 27th, 2014 by posted in Capitalism, Economics, Regulation.

“It’s time for Canada to offer a new deal to its young people.” That’s how the uber-liberal state worshippers at the Broadbent Institute introduced a new plan to fix the Great North’s ailing economy and boost the job prospects of

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What can we expect from new Fed Chairman Janet Yellen?

Thursday, March 27th, 2014 by posted in Banking, Economics, Politics.

No change. Oh, you want more?  Well, OK, I suppose I can give more of an explanation than that.  Groucho Marx used to tell a joke on himself that “I wouldn’t want to belong to any club that would admit

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Did the Government Pay for WW2 with Interest-Free Loans?

Thursday, March 27th, 2014 by posted in Economics, History.

Did the government of Canada use the Bank of Canada to fund World War 2 with interest-free loans? It’s a claim that is often made by the Canadian Greenbackers (or Loonies, as I like to call them). The Loonies maintain

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Kevin Williamson of National Review channels Jean Baptiste Say

Thursday, March 27th, 2014 by posted in Economics.

Dear Sirs: In his recent essay, “To Work Is to Live”, Kevin D. Williamson gave about as nifty an explanation of Say’s Law as you will find anywhere.  We buy goods with other goods, and money is merely the indirect

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Cuba Woos Foreign Investors

Wednesday, March 26th, 2014 by posted in Capitalism, Economics, Socialism.

One of socialism’s last men standing, Cuba has recently softened its stance on foreign investment. In a bid to attract capital to the stagnant economy, a newly proposed foreign investment law would cut taxes on foreigners in half to 15%

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The EU Cannot Be Reformed, Because It Does Not Honor the Rule of Law

Wednesday, March 26th, 2014 by posted in Capitalism, Economics, Law, Politics.

From today’s Open Europe news summary: Swidlicki: Clegg/Farage debate risks establishing false ‘all-or-nothing’ choice and ignoring public appetite for EU reform Writing on Liberal Democrat Voice ahead of the first EU debate between Nick Clegg and Nigel Farage tonight, Open

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Insanity and Human Action

Wednesday, March 26th, 2014 by posted in Law, Philosophy.

I just finished reading Insanity: the Idea and Its Consequences by Thomas Szasz, the renowned libertarian psychiatrist. In it, he stresses the importance of human action, praxiology, and even takes Ludwig von Mises to task for falling into the trap

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Brazil’s Slow Default

Wednesday, March 26th, 2014 by posted in Economics.

After flying high for several years, Brazil’s luck is quickly running out. Citing bad economic management and one-off accounting tricks that flattered its public finances, credit rating agency Standard & Poors has downgraded the country’s debt to BBB-, just one

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Stealth Inflation

Tuesday, March 25th, 2014 by posted in Banking, Capitalism, Economics, History.

Central bankers have managed to obscure the effects of money printing. But market efficiency gains can’t hide the problems forever.    Six years into recovery and the economy worldwide is punk, despite central bankers’ belief they can inject just the

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Creating Unemployment and Poverty

Tuesday, March 25th, 2014 by posted in Capitalism, Economics, Politics, Regulation.

From today’s Open Europe news summary: In an interview with Die Welt, Jean-Claude Juncker, the EPP’s candidate for European Commission President, argues, “As Europeans we have been active in many areas except for social policy where we have taken a

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Anthropomorphizing the Banking System

Tuesday, March 25th, 2014 by posted in Banking, Capitalism, Economics.

Re: European Officials Reach Deal on Failed-Bank System The European Union’s attempt to create one bank regulator with the power to shut down and bailout problem banks will fail, because it does not address the cause of generalized bank failures. 

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The Unemployment Mirage

Tuesday, March 25th, 2014 by posted in Capitalism, Economics.

The rate of unemployment is one of the key metrics by which we tend to judge the health of an economy. If unemployment is low, we tend to say that the economy is strong. If unemployment is high, we conclude

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Intellectual Property and Comparative Advantage

Monday, March 24th, 2014 by posted in Capitalism, Economics, Intellectual Property.

People like Intellectual Property laws because they do not grasp how we, ourselves, are beneficiaries of other people’s productivity. We have a tendency to sue and chase after people who “stole ideas”. We praise “originality” and demonize copying, because we

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Don’t Believe In Free-Market Medicine? Have You Ever Seen the Inside of a Venezuelan Supermarket?

Sunday, March 23rd, 2014 by posted in Capitalism, Economics.

Reprinted from RayHarvey.org It was in early autumn of 1989 that the drunkard Boris Yeltsin, soon-to-be president of the Soviet Union, visited, for the first time in his life, a supermarket in Houston, Texas. Not long afterward, in his autobiography Against

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