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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,

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On Being Long-Lived

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

Ezekiel Emanuel, premier progressive thinker and one of the chief architects behind the Orwellian-named Affordable Care Act, wants to die at age 75. Fair enough, that’s his prerogative. But there’s something chilling about the cold and calculating nature of his

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The Dangers of Econ 101 in the Minimum Wage Debate

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

Minimum wage opponents often illustrate its effects with the standard, econ 101 treatment of price controls: They draw a supply-and-demand graph for low-skilled labour with a price floor set above the market-clearing wage creating a surplus of low-skilled labour. I

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On Quacks, Frauds, and Scam Artists

Tuesday, October 14th, 2014 by posted in Capitalism, Health Care.

For some time now, the scientific community has had its eye on taking down popular television host and alleged physician, Dr. Oz. Notorious for being a publicity grabber and pushing cures on his fawning audience that are dubious at best,

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Cable TV Sinks, Waiting For Crisis

Tuesday, October 14th, 2014 by posted in Economics.

We’ve got Ebola, ISIS, and mid-term elections and cable news ratings are still in the toilet.  “This has been a tough year all around,” Phil Griffin, the president of MSNBC says. “All three cable news channels are drawing a smaller

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Montreal’s Economic Bilingualism

Tuesday, October 14th, 2014 by posted in Economics.

As a resident of Montreal and an Anglo-Quebecer by birth, I have gotten to know the city fairly well in my three years here as a student. Montreal is generally known as the “cultural capital” of Canada, and with the

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A Sensible Central Banker?

Saturday, October 11th, 2014 by posted in Banking, Capitalism, Economics.

With all the lunacy coming from the world’s central bankers since, well, ever, it’s refreshing to hear something (anything!) sensible coming from one of them finally. Bank of Canada Governor Stephen Poloz’s recent announcement that the BoC would stop using

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Befuddled Keynesians attack German responsibility

Friday, October 10th, 2014 by posted in Economics.

Re: Germany’s Insistence on Austerity Meets With Revolt in the Eurozone Re: I.M.F. Asks Rich Countries for Support These two article in the New York Times from Wednesday of this week illustrate the confusion and increasing stridency of Keynesian school

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Libertarianism, Socialism, and Subjectivism

Friday, October 10th, 2014 by posted in Philosophy.

Consistency. This is undoubtedly the one word that any libertarian, when given the chance to describe their philosophy, would pick. Interestingly enough, when there is a remarkable amount of diversity amongst the rationalization of the libertarian position. The intellectual grounding

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An opportunity to educate the public is squandered

Friday, October 10th, 2014 by posted in Banking, Economics, Law, Politics.

From today’s Open Europe news summary: Hans-Werner Sinn: Some countries should be allowed to temporarily leave the euro Open Europe yesterday hosted the launch of Professor Hans-Werner Sinn’s new book, ‘The euro trap: on bursting bubbles, budgets and beliefs’. At

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Be Careful When you Wish for a Weak Dollar

Friday, October 10th, 2014 by posted in Economics.

A little over a year ago, Canadians were alarmed by the surging loonie. As the argument went, foreigners (and Americans in particular) couldn’t afford to buy Canadian-made goods. Since the country couldn’t compete, better get the Bank of Canada on

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A way to look at Fed mismanagement of the dollar

Thursday, October 9th, 2014 by posted in Banking, Economics.

Here’s an interesting little calculation of how many dollars the Fed would have to charge for an ounce of its gold reserve in order to cover all of M1. (M1 is the narrowest definition of money, which includes cash and

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Some Fortunate Facts about Ebola

Thursday, October 9th, 2014 by posted in Health Care.

With reporters of the Western World losing their heads over the outbreak of the Ebola virus, it’s helpful to put it in the context of other diseases. This year roughly 8,000 West Africans have contracted the disease, mostly limited to

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Getting Conned by CONs

Wednesday, October 8th, 2014 by posted in Health Care.

In the healthcare industry, a certificate of need, also known by the acronym CON, is an anticompetitive licensing restriction allegedly designed to promote fair competition by requiring hospitals to demonstrate the need for certain projects and services in order to

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Venezuela’s Biggest Shortage

Wednesday, October 8th, 2014 by posted in Capitalism, Civil Liberties, Economics, Regulation.

Venezuela’s socialist government has beset the population with all sorts of terrible travesties, from high inflation to shortages of toilet paper. Now the country’s poor citizens have one more shortage to grapple with: breast implants. Apparently the country’s restrictive currency

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Bubbly Real Estate and Greater Fools

Tuesday, October 7th, 2014 by posted in Economics.

The Fed has more than quadrupled its balance sheet from 2008 to now, attempting to create jobs. The result; a 1.7 million increase in the number of unemployed, a 2.5 million increase in the number of those employed part-time for

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