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One-Dimensional Thinking on Drug Legalization

Monday, November 17th, 2014 by posted in Capitalism, War on Drugs.

The libertarian movement is often dismissed as consisting of a bunch of hippy stoners who just want to take drugs and do whatever they want. Of course, this is an unfair and untrue generalization that ignores the centuries of political

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NGDP Is a Concept Constructed By Economists

Sunday, November 16th, 2014 by posted in Economics.

Long-time readers know that I am not a fan of the Market Monetarist approach to monetary policy, in which central banks are supposed to target a steadily growing level for nominal Gross Domestic Product (NGDP). However, in this post I

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Tax Avoidance is NOT Tax Evasion

Friday, November 14th, 2014 by posted in Politics, Regulation.

From today’s Open Europe news summary: The Telegraph reports that David Cameron is expected to use the G20 gathering of world leaders this weekend to press for greater sharing of tax information to crackdown on avoidance. Open Europe’s Raoul Ruparel is quoted

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Food Banks and the Basic Income Model

Thursday, November 13th, 2014 by posted in Economics, Socialism.

Did you know that nearly a million Canadians are now using food banks each month? According to HungerCount, there has been a 25% increase in food bank usage since the Financial Crisis six years ago. HungerCount Reports are considered to

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Social Pressure Triumphs Again

Thursday, November 13th, 2014 by posted in Capitalism, Law, Lifestyle.

Google Glass is basically dead. The innovative technology from the largest, most exciting tech firm out there was supposed to usher in a brave new world of wearable computers, revolutionize communication and take humanity the next step down the inevitable

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Europe 25 years after the fall of the iron curtain

Wednesday, November 12th, 2014 by posted in Capitalism, Economics, Mises on Policy, Politics.

Play video 01:38:28 Added on 11/12/14 178 views Many thanks to my friend Dr. Philip Bagus for forwarding the link to me. In addition to the address by former Czech president Vaclav Klaus, there were excellent presentations by Dr. Bagus

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Martin Wolf Unwittingly Confirms Austrian Business Cycle Theory

Tuesday, November 11th, 2014 by posted in Economics.

In the summer I wrote a post for Mises CA explaining that Jared Bernstein had unwittingly confirmed that the Austrian financial commentators weren’t paranoid for warning people that the USD’s days as the world’s reserve currency were numbered. Today I

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Government Revenue, Democratic Control, and the Squamish Nation

Tuesday, November 11th, 2014 by posted in Politics.

Ludwig von Mises wrote that, “[d]emocratic control is budgetary control. The government has but one source of revenue—taxes. … But if the government has other sources of income it can free itself from this control.”[1] This principle is particularly important

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Maastricht Treaty? We don’t need no stinkin’ Maastricht Treaty!

Tuesday, November 11th, 2014 by posted in Banking, Economics, Law, Politics.

From today’s Open Europe news summary: ECB Executive Board member Yves Mersch said yesterday that the ECB will begin purchasing Asset Backed Securities (ABS) next week. He added that, “should the situation deteriorate further”, purchases of sovereign debt remain an

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“Malinvestment” in the google books “Ngram Viewer”

Monday, November 10th, 2014 by posted in Uncategorized.

An interesting result from the google Ngram viewer – the use of the term “malinvestment” over the last 100 years. https://books.google.com/ngrams Redmond is the director of the Ludwig von Mises Institute of Canada.

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Economics is a Philosophy of Tolerance

Monday, November 10th, 2014 by posted in Economics.

The world is full of snobs. There are music snobs who complain that most people prefer Lady Gaga to Stravinsky, film snobs who complain that most people prefer action movies to art films, and food snobs who complain that most

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The EU’s anti-competitive tax policy

Monday, November 10th, 2014 by posted in Capitalism, Economics, Law, Politics, Regulation.

From today’s Open Europe new summary: Following the release of thousands of secret documents detailing how Luxembourg helped companies avoid paying taxes, an FT leader argues, “For the sake of his own credibility – and that of the commission – [Jean-Claude Juncker]

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Carbon Tax “Win-Win” Too Good To Be True

Saturday, November 8th, 2014 by posted in Uncategorized.

In a new paper for the Ottawa-based Macdonald-Laurier Institute (MLI), I take on the claim that a carbon tax could produce a “win-win” outcome of reduced climate change damage coupled with stronger conventional economic growth. In both the United States

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The Vacuity of Scott Sumner’s Approach to Monetary Policy

Thursday, November 6th, 2014 by posted in Economics.

Long-time readers of this blog know that I have been very critical of “market monetarism,” especially in the hands of Scott Sumner–undoubtedly the school’s leading economist-blogger. In the present post, I don’t want to talk about the effects of his

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In Defense of Peter Schiff

Thursday, November 6th, 2014 by posted in Banking, Capitalism, Economics.

The financial television channel CNBC has hit hard times. Nielsen ratings show the network’s viewership is at a 21 year low. This is a far cry from two decades ago. The dot-com bubble of the late 90s and early aughts

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ICPM Opening Reception, This Friday!

Thursday, November 6th, 2014 by posted in Announcements.

Join us for our opening reception of the International Conference of Prices and Markets 2014 at Paupers Pub located at 539 Bloor Street W, Toronto ON this Friday, November 7th, at 6PM! Hosted by the Ludwig von Mises Institute of

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An Alternative to the Minimum Wage

Wednesday, November 5th, 2014 by posted in Capitalism, Economics.

Canada’s top central banker, Stephen Poloz, has sparked some controversy by suggesting that unemployed youths should offer to work for free (gasp!). When I bump into youths, they ask me, you know, ‘What am I supposed to do in a

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Milking the Dairy Industry

Monday, November 3rd, 2014 by posted in Economics.

A recent CBC report exposes that Newfoundlanders and Labradorians often pay at least twice as much for dairy than Ontarians. Indeed, milk consumers in Windsor can often expect to pay around 91 cents per litre, while it’s been reported in

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An Open Letter to Janet Yellen Pt. II

Monday, November 3rd, 2014 by posted in Economics.

(Read part I here.) Money printing does generate tremendous income for Wall Street “fat cats”. Such income, however, is more than off-set by the loss of working people. Money printing is thus the most vicious redistribution of wealth. It has

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An Open Letter to Janet Yellen Pt.I

Monday, November 3rd, 2014 by posted in Economics.

Dear Chairwoman Yellen, This is an open letter urging you to stop money printing immediately. It has created worse economic inequality and tremendously hindered the economic recovery from the longest recession in history. You have said that you are extremely

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