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The Fed and Mr. Krugman: The Price of Nuts

Friday, September 5th, 2014 by posted in Banking, Economics.

The pine nuts I like to sprinkle on my salads have become so precious the price jumped from an already outrageous $5.99 per 4 ounce container to $6.99 this past week. One person who is happy about this is the

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Who Will Defend the Rule of Law in Europe?

Friday, September 5th, 2014 by posted in Uncategorized.

From Open Europe news summary of September 5, 2014: ECB surprises markets with rate cut and purchases of private assets; Ruparel: Pressure rises on eurozone governments as ECB nears end of its policy tools The ECB yesterday surprised markets by

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Sin City’s Darker Twin

Thursday, September 4th, 2014 by posted in Politics.

As the camera zooms in on the dried monkey skeletons on display, a scowling vendor angrily waves it away, cursing in Mandarin. “Here, photography is not always welcome” says the narrator. This scene from The Mong Lah Connection took place

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Finally, the Fed Blames Itself

Wednesday, September 3rd, 2014 by posted in Banking, Capitalism, Economics.

This is an historic time. After six years of the most novel and expansive monetary policies since its creation 100 years ago, the Fed is finally ready to admit its role in prolonging the current recession… kind of. Two economists

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Unions are Not Capitalism

Tuesday, September 2nd, 2014 by posted in Capitalism, Economics.

Labor unions are a dying breed. According to the Pew Research Center, union membership in America “is at its lowest level since the Great Depression.” In 1983, there were approximately 17.7 million union workers. Today, that number stands at 14.5

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More “Efficient Markets” Nonsense

Tuesday, September 2nd, 2014 by posted in Economics.

I’ve got yet another example of proponents of the Efficient Markets Hypothesis (EMH) writing things that at first sound profound, but upon further scrutiny descend into nonsense. However, whenever I write a post like this, people pounce on me and

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CALL FOR PAPERS: International Conference of Prices & Markets (Toronto, November 7-8)

Tuesday, September 2nd, 2014 by posted in Events.

Call for Papers: 2014 International Conference of Prices & Markets Toronto, Canada November 7-8, 2014 Reflective of the growing international participation at the Toronto Austrian Scholars Conference, the event has been rebranded as the International Conference of Prices & Markets in concert with the Mises Canada published Journal

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The Immunity Community

Tuesday, September 2nd, 2014 by posted in Law.

The doctrine of sovereign immunity derives from the English notion that “the king can do no wrong” and hence cannot be sued without his consent. The purpose of this doctrine was, in England, from at least the Middle Ages until

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Scott Sumner Skeptical of Heterodox Views, Unless They’re His

Monday, September 1st, 2014 by posted in Economics.

In a recent post at EconLog, Scott Sumner–one of the leading economists for “market monetarism”–lamented the “intellectual decay” (his term) of both sides in our polarized policy debates. Yet ironically, Sumner ended up destroying the foundation for his own brand

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Jared Bernstein Confirms That Austrians Aren’t Paranoid

Sunday, August 31st, 2014 by posted in Economics.

For years a growing number of self-identified Austrians have been warning that the USD’s days as the world’s reserve currency are numbered. For example, I myself recently wrote: I believe that the U.S. dollar, U.S. Treasuries, and the U.S. stock

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The Cycle of Dependency Can be Broken

Sunday, August 31st, 2014 by posted in Economics, Politics.

People respond to incentives. We all know this, and it is the basis for a great majority of economic policy decisions. The behavioralist school has increasingly argued in favor of “nudge” policies to induce people to behave as government would

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The War on Airbnb

Friday, August 29th, 2014 by posted in Capitalism, Economics.

The web startup Airbnb is finding itself in hot water lately. A peer-to-peer service that matches renters with rentiers, the company is under attack by entrenched lodging businesses such as hotels. It’s easy to see why. The company, which is

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Contra Krugman, Europe Shows Benefit of Lean Government

Friday, August 29th, 2014 by posted in Economics.

The great thing about Paul Krugman is that you just need to let him tie the rhetorical noose with which he hangs himself. The funniest example is when he asked a group of Canadians in a live forum whether they liked

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Flight of the Liberals

Thursday, August 28th, 2014 by posted in Capitalism, Economics.

Voting with your feet has long been an important part of the democratic process. When the laws of a town, state or even country become oppressive, citizens should be free to leave and seek more favorable conditions elsewhere. Yet while

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An Intuitive Guide to Intellectual Property

Thursday, August 28th, 2014 by posted in Economics, Intellectual Property.

These days, everyone and their mother seems to have an opinion on intellectual property. This has its positives and negatives. The positives are that the more people are aware of the issues affecting society, the more likely they are to

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Want to Hurt Pensioners? Expand Public Pensions

Thursday, August 28th, 2014 by posted in Capitalism.

Ask yourself the following questions. Do you feel as though you have insufficient funds to retire? Would you like to have more money for your retirement? Would you like the government to provide more savings programs or income supports for

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IMF: Risk of Another Housing Crash

Wednesday, August 27th, 2014 by posted in Banking, Capitalism, Economics.

The International Monetary Fund is warning that the world is at risk of “another devastating housing crash.” This is true for instance for Australia, Belgium, Canada, Norway and Sweden,” he said. In the wake of the global recession central bankers

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CBO Thinks Millions of Americans Aren’t Going to Sign Up for “Affordable” Care

Tuesday, August 26th, 2014 by posted in Economics, Health Care.

In June the U.S. Congressional Budget Office (CBO) updated its forecasts regarding the “individual mandate” component of the Affordable Care Act (ACA), also known as “ObamaCare.” Recall that the individual mandate is the tax levied on Americans who commit the

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Check out Mises Cuba

Monday, August 25th, 2014 by posted in Economics, Education.

Mises Institutes are popping up all over the world! A recent article at Forbes highlighted this worldwide movement. Check out one of the newest: Mises Cuba!

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Poloz is Gonna Leave ‘em Low

Monday, August 25th, 2014 by posted in Economics.

As Janet Yellen talked about the possibility of raising interest rates, Poloz’s comments followed with a definite no. We’re already bumped up to 1% and Canadian markets tend to react to American news anyway. Instead adding more speculative fire to

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