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Fraud or Freedom?

Thursday, March 20th, 2014 by posted in Civil Liberties, Law.

Most libertarians recognize fraud as a form of theft, and therefore a form of coercion that violates the non-aggression principle and should be subject to legal reprisal. In general, I agree. But what constitutes fraud? The case of Kevin Trudeau

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Politicians Prevent Cooperative, International Exchange

Thursday, March 20th, 2014 by posted in Uncategorized.

From today’s Open Europe news summary: Speaking in the Bundestag this morning, Chancellor Angela Merkel warned that due to the complexity of the negotiations over the EU-US free trade agreement, the risk of failure had to be taken seriously, although

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Episode 57: Detlev Schlichter – Paper Money Collapse

Wednesday, March 19th, 2014 by posted in Economics, History.

Catch one of the latest episodes of Better Red Than Dead, starring Mises Canada Executive Director Redmond Weissenberger and economist Detlev Schlitcher. Detlev S. Schlichter is an Austrian School economist and author. His book Paper Money Collapse – The Folly of Elastic

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Mises on Al Jazeera on the Basic Income

Wednesday, March 19th, 2014 by posted in Announcements, Economics.

I’m going to be Al Jazeera English Thursday, March 20th at 3:30 pm EST to discuss the merits of the basic income–live!   Tune in, or find the livestream here: http://www.aljazeera.com/watch_now/   Ash Navabi is a student at Ryerson University.

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A Typical Day in Europe: getting a handout or desiring autonomy

Wednesday, March 19th, 2014 by posted in Civil Liberties, Economics, Politics.

(My comments in italics below the news reports) From today’s Open Europe news summary: The Greek government reached a deal with the EU/IMF/ECB Troika yesterday, paving the way for the next disbursement of €10bn in bailout funds, which Greece hopes

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The Continuing Importance of Capital Theory

Tuesday, March 18th, 2014 by posted in Economics.

There are many ways in which the Austrian School is distinct from not just the Keynesian approach but also the Chicago School. One of the most important–especially in our times–is that the Austrians have a much richer theory of the

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Some Thoughts on the Latest Medical Marijuana Mayhem

Tuesday, March 18th, 2014 by posted in Civil Liberties, War on Drugs.

We can all sleep safe and sound tonight knowing that Health Canada and the RCMP are working to ensure “public safety.” In two weeks, 37,000 licensed marijuana growers will effectively become criminals when the new medical marijuana law takes effect.

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Why Conservatism Shouldn’t Be Ditched

Tuesday, March 18th, 2014 by posted in Philosophy, Politics.

Conservatism is a dirty word. People often misuse it, whether speaking of themselves or others. It rarely means what it describes. Ask any man off the street what a conservative is, and they’ll likely tell you he is a bigoted

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What Was “The Coyne Affair” ?

Monday, March 17th, 2014 by posted in Banking, Economics, History.

James Elliott Coyne would have been 104 years old this July, if he had lived past the ripe old age of 102. A lawyer by training, Coyne first joined the Bank of Canada in 1938 in the Research Department, but

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Wikipedia and the Decentralization of Medicine

Monday, March 17th, 2014 by posted in Capitalism, Economics, Health Care.

Remember when you were in college and your professors all went into fits of red-faced, paralyzing rage at the very idea of using Wikipedia as a source for a paper? Well then, you clearly didn’t go to medical school, because

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The Perverse Economic Incentives of the State

Saturday, March 15th, 2014 by posted in Capitalism, Economics.

My CPA sent me the taxes for 2013, and I was stunned to discover that my consulting business owed the State of Tennessee $1,600. It’s a long story, but I had conducted my affairs last year in such a way

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Episode 55: Predrag Rajsic – The Economy of Tito’s Yugoslavia, Delaying the Inevitable Collapse

Saturday, March 15th, 2014 by posted in Capitalism, History.

Catch one of the latest episodes of “Better Red Than Dead,” hosted by Mises Canada Executive Director Redmond Weissenberger and Predrag Rajsic. Predrag Rajsic specializes in production economics and economics of markets with substantial market exchange restrictions. His research interests

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The Failure of Keynesianism

Saturday, March 15th, 2014 by posted in Banking, Capitalism, Economics, History.

It’s hard not to agree with the old aphorism “history doesn’t repeat itself, but it does rhyme.” It’s nice to think we learn from our mistakes; yet we always seem to repeat them at some later date. Reading the daily

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A Useless Minimum Wage Chart

Saturday, March 15th, 2014 by posted in Capitalism, Economics.

In the minimum wage debate in the United States, one of the key arguments is that the minimum wage hasn’t kept pace over the decades, and so raising it (as President Obama wants to do) shouldn’t really hurt anything. One

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More Insanity from the European Union

Friday, March 14th, 2014 by posted in Capitalism, Economics, Regulation.

Fascinating excerpts from the March 14, 2014 Open Europe news summary in italics and my comments below each: All mobile phones and some other electronic appliances on the European market will have to come with a standard charger by 2017

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Our Unrepentant Fed

Thursday, March 13th, 2014 by posted in Banking, Capitalism, Economics, Politics.

Re: Fed nominee Fischer says easing still needed amid unemployment The above Bloomberg article on Stanley Fischer as the Fed’s nominee for its number two person bodes ill for America and the world.  Fischer has spent his entire adult life

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Mt. Gox Problems Mount

Thursday, March 13th, 2014 by posted in Banking, Economics.

In the aftermath of the demise of bitcoin bank Mt. Gox comes a few startling revelations. A newly released “Crisis Strategy Draft” confirms some unfortunate truths long suspected of its handling of clients’ bitcoin deposits. (The document might be a

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Sociologists Spot the Blinders of Macroeconomics

Wednesday, March 12th, 2014 by posted in Banking, Economics, History.

Sociology is the last place from which one would expect helpful insights into the workings of the Fed.   While at one time the field produced some illuminating work on economic topics — think of Max Weber’s The Protestant Ethic

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Austrian vs. the Keynesian Herd

Wednesday, March 12th, 2014 by posted in Banking, Economics.

After a crash everyone asks, “what were they thinking?”  However, most of Wall Street takes the words of John Maynard Keynes to heart. In 1931 he said,  “A sound banker, alas, is not one who foresees danger and avoids it,

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Slavery Could Not Persist in an Otherwise Free Market, Part II

Tuesday, March 11th, 2014 by posted in Capitalism, Economics.

In a previous post, I elaborated on Ludwig von Mises’ comments to argue that human slavery could not persist in an otherwise free market. Mises claimed that free labor was more productive than slave labor, and I used this empirical

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