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Is Scott Sumner “the NGDP Guy”?

Tuesday, November 25th, 2014 by posted in Economics.

In a recent post at EconLog, leading Market Monetarist Scott Sumner complained that he had been pigeonholed: I was recently reading a new book on monetary policy alternatives, edited by Larry White. One thing I noticed was that when my

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The Path to the Perfect Reserve Currency

Tuesday, November 25th, 2014 by posted in Banking, Economics, Politics, Regulation.

Much has been written lately, including by me, about the coming rejection of the dollar as the primary reserve currency of the world’s most important central banks. My prediction is based upon two things: one, that the Federal Reserve is

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Time to Raise Rates?

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

Canada emerged relative unscathed from the financial crisis of 2008. Indeed, over the last six years growth has been relatively robust and to venture out in Toronto, Calgary or Vancouver right now one would think they were in the midst

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Pop Art and Intellectual Property

Monday, November 24th, 2014 by posted in Intellectual Property.

One of the most iconic painters of the 20th century was Roy Lichtenstein, a New York based artist who, alongside Andy Warhol, came to fame as one of the defining voices in the American Pop Art movement. Pop Art was

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Fun at the International Conference on Prices and Markets

Saturday, November 22nd, 2014 by posted in Toronto Austrian Scholars Conference.

It was my pleasure to attend Mises Canada’s “International Conference on Prices and Markets” on November 7 and 8 in beautiful Toronto. Redmond Weissenberger and David Howden were hosts and organizers for our truly jolly group of around seventy attendees.

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There is No Right to be Forgotten

Friday, November 21st, 2014 by posted in Civil Liberties, Philosophy.

The freedom of information offered by the internet has had drastic implications for liberty. To the benefit of individuals, it reduces information asymmetries with business and increases transparency in government. It allows us to make more informed decisions, where ignorance

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Hayek, Statistics, and Trade-Cycle Theory

Friday, November 21st, 2014 by posted in Economics.

Austrian economics is often caricatured and criticized because of its approach, or deliberate lack of an approach, to mathematical models, multivariable calculus, and econometrics. Attacks are leveled against Austrians such as Mises, Rothbard, and Kirzner for their failure or refusal

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Planning begins for a euro-free Europe

Wednesday, November 19th, 2014 by posted in Economics, Trade.

From today’s Open Europe news summary: In an interview with RTL, Dutch Finance Minister Jeroen Dijsselbloem admitted that the Dutch government looked at what would happen if plans to save the euro “didn’t succeed”. His predecessor Jan Kees de Jager added separately

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The Skyscraper Curse in Alberta

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

The Skyscraper Index shows a correlation between the construction of large, record-setting buildings and economic busts. Of course, correlation is not causation, but it’s interesting to note how accurate this index is. Created by economist Andrew Lawrence in 1999, the

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Catcalling as Free Speech

Tuesday, November 18th, 2014 by posted in Civil Liberties.

Lately, a series of videos have been making the rounds illustrating the kind of provocative comments women have to put up with when wandering the streets of busy cities by themselves. Men with low thresholds of personal shame frequently holler

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December Toronto Mises Meet!

Tuesday, November 18th, 2014 by posted in Events.

Winter is coming to the City of Toronto, so warm up your spirits with a dose of liberty! Join the Ludwig von Mises Institute of Canada for our monthly meet up this Tuesday, December 2, at 7 pm, at the Pauper’s

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A Response: Defending Anarcho-Capitalism

Monday, November 17th, 2014 by posted in Capitalism, Economics, Philosophy, Politics.

In a 1901 letter to novelist John Galsworthy, Polish author Joseph Conrad described “skepticism” as “the tonic of minds, the tonic of life, the agent of truth – the way of art and salvation.” Men hardly write letters anymore. Post

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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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