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Europe’s banks are going bust, and accounting tricks will not save them

Saturday, October 25th, 2014 by posted in Banking, Economics.

Europe’s Gong Show at Work: Back Taxes and Busted Banks The EU is doing everything it can to paper over the fact that its policies have turned the banks into what David Stockman likes to call “Roach Hotels”, where bad

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Cass Sunstein Doesn’t Understand Rationality

Friday, October 24th, 2014 by posted in Economics.

People are still apparently paying attention to Cass Sunstein and his insidious brand of “nudge” economics, and so it is necessary to continually expose the economic, ethical, and moral fallacies inherent in his philosophy. In brief, Sunstein contends that humans

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Legal Victory for the IRS

Friday, October 24th, 2014 by posted in Capitalism, Economics.

With the IRS scandals of early 2014 all but a distant memory, some closure is coming to the groups that the long arm of the tax law harassed. Unfortunately the verdicts aren´t going the way the affected would like. The

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Why Money Doesn’t Measure Value

Thursday, October 23rd, 2014 by posted in Economics.

Anyone who knows him personally would attest that David Gordon is a troublemaker. He lived up to this label with a recent review of the new book by Steve Forbes and Elizabeth Ames. Gordon took them to task for referring


There Was No Contagion

Thursday, October 23rd, 2014 by posted in Banking, Capitalism, Economics.

If you use the word “contagion” these days, people are likely to think you’re talking about ebola. Backup five years ago, and contagion was the buzzword to describe the financial crisis. The European government bond market was falling apart, and

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The End of Suffering

Wednesday, October 22nd, 2014 by posted in Philosophy.

The alleviation of human suffering is a noble and admirable goal. Indeed, the vast majority of all of men’s efforts throughout the centuries have been directed towards reducing suffering, from medicine and technology, to philosophy and religion. Anything we can


CATO Institute Creates new fed-focused Center for Monetary and Financial Alternatives.

Tuesday, October 21st, 2014 by posted in Uncategorized.

From the Wall Street Journal: The Cato Institute has some bones to pick with the Federal Reserve. The Washington libertarian think tank this week will launch a new Center for Monetary and Financial Alternatives. Its goal: challenge the central bank’s

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Connecticut’s Homeschooling Crackdown

Tuesday, October 21st, 2014 by posted in Education.

Never to let a good crisis go to waste, the state is using this as a chance to crack down on a practice it has long disapproved of: homeschooling. Reportedly as a response to the high profile shooting at Sandy

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The Tragedy of NATO: Economic Problems Embedded in Collective Security Agreements

Monday, October 20th, 2014 by posted in Economics, Foreign Policy, Politics, Socialism.

The economic phenomenon known as the “Tragedy of the Commons” instructs us that commonly held resources that are insufficiently protected will be plundered to extinction. The phenomenon was recognized in the early nineteenth century to explain why the commons in

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The Misguided Push for STEM

Monday, October 20th, 2014 by posted in Capitalism, Economics, Education.

The higher education system is a mess, and it seems the more we try to fix it, the worse it becomes. With a parade of unflattering test score comparisons constantly being trotted out, widespread unemployment, and a mismatch of skills

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Fractional Reserve Banking, the Euro, and the benefits of a New German Deutsche Mark

Sunday, October 19th, 2014 by posted in Banking, Economics.

In this thirty minute interview on Power Trading Radio I discuss fractional reserve banking, the euro, and the beneficial effect of a reinstated German deutsche mark. Interview with Patrick Barron on Power Trading Radio Patrick Barron is a consultant to

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The Fed’s Price Control and Pavlov’s Traders

Saturday, October 18th, 2014 by posted in Banking, Economics.

Pavlov observed that his dogs would salivate when they saw anything associated with food. He introduced sounds into this association and dogs would salivate upon hearing the sound. And so it goes with the Federal Reserve and stock traders. On

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October Mises Meet! This Tuesday!

Saturday, October 18th, 2014 by posted in Announcements, Events.

Get your pumpkin spice-infused dose of liberty while it lasts! Join the Ludwig von Mises Institute of Canada for our monthly meet up this Tuesday, October 21, at 7 pm, at the Pauper’s Pub! Enjoy food, beverage, and discussion of all

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John Tamny Needs to Stop Lecturing People on Mises’ Monetary Views

Friday, October 17th, 2014 by posted in Economics.

John Tamny has an unfortunate habit of criticizing Austrian economists by citing the legacy of Ludwig von Mises, when it is clear that Tamny doesn’t know what he’s talking about. Let me be clear: I am all for people criticizing


Free Not to Vote

Friday, October 17th, 2014 by posted in Politics.

The 2014 U.S. midterm elections are coming up, and I don’t intend to vote. A vote is like virginity: you don’t give it away to the first flower-bearing suitor. I haven’t been given a good reason, let alone flowers, to

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Occupational Licensure Strikes Again

Friday, October 17th, 2014 by posted in Capitalism, Economics.

It’s that time of year again: the time where I go on and on about a subject nobody but me cares about. That’s right, it’s occupational licensure! This is a subject that does not get nearly enough attention from the

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The IMF and Austrian Theory

Friday, October 17th, 2014 by posted in Banking, Capitalism, Economics.

Back in the early 1960s, financial journalist Henry Hazlitt warned against efforts to create an international system to help facilitate the smooth transfer of currencies. Representatives from the world’s leading governments were attempting to increase liquidity in global markets. They

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No Virginia, Reagan Had a Better Economic Record Than Obama

Thursday, October 16th, 2014 by posted in Economics.

As part of their campaign to deny that large hikes in the minimum wage or federal income tax rates will have any appreciable downsides, a popular move among progressive pundits lately has been to argue that the economic recovery under Obama

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Krugman Needs to Read Christina Romer on Taxes

Thursday, October 16th, 2014 by posted in Economics.

In a recent blog post Paul Krugman made the following offhand remark regarding taxes and economic growth:  There are growing hints that if Republicans take the Senate, they will voodooize the CBO, making “dynamic scoring” — that is, the assumption

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Market Monetarists Undercut Each Other

Wednesday, October 15th, 2014 by posted in Economics.

For the die-hard fan of “market monetarism,” the present post will seem cheeky at best. Nonetheless, I thought it worth bringing up something ironic that happened in the blogosphere’s full-court press of advancing the new approach to monetary policy. Specifically,