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Do Critics Think Walmart Water Bottles Fall From the Sky?

Tuesday, May 12th, 2015 by posted in Economics.

The latest outrage concerning the California water drought–the economics of which I explain in this short YouTube video–is that Walmart is earning an unconscionable profit in bottling and reselling water back to California residents. Here’s a RawStory summary of a

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Was It Carly Fiorina’s Job to Create Jobs at Hewlett-Packard?

Monday, May 11th, 2015 by posted in Economics.

It caused quite a chortle in political circles when Republican presidential nominee Carly Fiorina’s campaign team failed to lock-down an important website. Specifically, a critic of Fiorina grabbed and used it to condemn the massive layoffs she oversaw while

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Trade Autarky: Do It For the Children!

Thursday, May 7th, 2015 by posted in Economics, Trade.

Walking out of the grocery store today I saw this sticker:   What was impressive about this sentiment is that it doesn’t even focus on a trade deficit. No, just the brute fact of buying imports per se is (apparently)

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The problem isn’t overproduction; it’s malinvestment

Tuesday, May 5th, 2015 by posted in Capitalism, Economics, Socialism.

Mr. Max Ehrendfreund, writing in the Washington Post’s Wonkblog, believes that he has discovered something new: that the world is producing too much and doesn’t know what to do with it. His solution, of course, is to confiscate the overproduced

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Give the free market a chance!

Saturday, May 2nd, 2015 by posted in Economics.

Re: US jobs relapse raises fresh doubts on Fed tightening This link to a recent Telegraph (of London) Ambrose Evans-Pritchard (AEP) report is typical of the trap that Keynesians have built for themselves. AEP well articulates their dilemma, stating: “…the


Where to Earn a Degree in Liberty

Friday, May 1st, 2015 by posted in Education.

This piece originally appeared on FEE’s “Anything Peaceful” blog In 1946, Leonard Read founded the Foundation of Economic Education because he recognized that learning is the key to advancing human liberty. The effort that Read began nearly 70 years ago

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My letter to the NY Times re: Rattle those bones, blow that smoke, and bleed the patient until he recovers!

Thursday, April 30th, 2015 by posted in Economics.

Re: Is 2% Inflation enough? Dear Sirs: As you note, the Fed has held “its benchmark rate near zero…since December 2008”, but without the result promised by econometric models. Therefore, those Keynesian economists you quote want even more money printing.

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Baltimore, D.C., and Panem All in One

Monday, April 27th, 2015 by posted in Politics, Regulation.

The teen fiction series The Hunger Games is a hit in the United States, and it’s not hard to see why. The books, and spin-off movies, share an anti-authoritarian message combined with a complicated story of young romance. What’s really

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3rd International Conference of the “Ludwig von Mises and Contemporary Societies” cycle: “LIBERALISM, POSTCOMMUNISM AND REFORMS”. Lviv, October 1-2, 2015.

Monday, April 27th, 2015 by posted in Economics.

On the initiative of the Department of Political Science and Philosophy LRIPA NAPA and other institutions a series of conferences in honor of the famous Austrian scientist, liberal thinker and our countryman Ludwig von Mises is held in Lviv. In

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My letter to the WSJ re: Austrians understand why there is a commodity glut

Saturday, April 25th, 2015 by posted in Economics.

Re: Glut of Capital and Labor Challenge Policy Makers Dear Sirs: The worldwide commodity glut is not a surprise to Austrian school economists. It is a wonderful example of the adverse consequences of monetary repression to drive the interest rate

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Do We Owe the Weekend to Labor Unions?

Thursday, April 23rd, 2015 by posted in Economics.

On Twitter the following graphic caught my eye: There are two problems with this argument, one obvious and one more subtle. The obvious problem is that it commits the post hoc ergo propter hoc fallacy. Rather than spelling out what

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Critiquing a Monetary Reform for Iceland

Wednesday, April 22nd, 2015 by posted in Banking, Economics, Politics, Regulation.

The Prime Minister of Iceland recently commissioned a report by Frosti Sigurjonsson (henceforth referred to as “Mr. S”) to recommend a better money and banking system for Iceland. (I’m sorry, but isn’t Frosti a great first name for someone from

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SDAE Call for Papers

Tuesday, April 21st, 2015 by posted in Economics.

To all Austrian-minded scholars, The Society for the Development of Austrian Economics has put out a call for papers for their November meeting in New Orleans. See the link below for details.

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When Not Getting What You Pay for is Preferred

Monday, April 20th, 2015 by posted in Foreign Policy, Regulation.

In his book Bourbon for Breakfast: Living Outside the Statist Quo, libertarian writer Jeffrey Tucker sagaciously noted that we Americans “really don’t get all the government we pay for, and thank goodness. Lord protect us on the day that we

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Noah Smith Is Frank About Macro Models

Sunday, April 19th, 2015 by posted in Economics.

Lately some of the orthodox economists have been blogging in defense of standard macro models (even though they typically failed to predict the financial crisis of 2008). What caught my eye, however, was Noah Smith’s casual discussion of the state of


My letter to the NY Times re: Please, make me unemployed!

Friday, April 17th, 2015 by posted in Economics, Politics, Regulation.

Re: In test for unions and politicians, a nationwide protest on pay Dear Sirs: I find it incredible that anyone, especially the vaunted New York Times, would treat with respect the fallacious concept that pay can be set arbitrarily–and enforced

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Final Application Deadline for Rothbard U and Non-Student Registration News

Monday, April 13th, 2015 by posted in Announcements, Events.

July 15-18, 2015 Causal-Realist Economics, for the Real World. Toronto, ON “It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it

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Don’t Forget the Reasons People Don’t Believe in Your Social Cause

Monday, April 13th, 2015 by posted in Epistemology, History, Politics.

When it comes to Austrian economist and political thinker Friedrich Hayek, conservatives and libertarians are at odds. While conservatives like Hayek’s opposition to big government, they may disagree with his views on social progress. In the same vein, libertarians agree

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Will the New Banking Proposals in Iceland Save it from Economic Instability?

Monday, April 13th, 2015 by posted in Banking, Capitalism, Economics, Politics.

A recent proposal out of Iceland has been making the waves around economics blogosphere. In it, Frosti Sigurjonsson critiques the current fractional-reserve banking system and proposes instead a system he calls “Sovereign Money”. But what is “sovereign money”, how is


CA Drought Fault of Capitalism, If We Ignore Economics and Math

Tuesday, April 7th, 2015 by posted in Economics, Environment.

Once again, the popularity of the Facebook page “US Uncut” should make everybody consider moving to Canada. Regarding Governor Jerry Brown’s mandatory water restrictions in the state of California, the US Uncut page posted the following graphic (and accompanying text)