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Paper Submission Alert: Austrian Economics Research Conference 2015

Tuesday, December 9th, 2014 by posted in Capitalism, Economics, Education.

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. The conference is hosted by the Mises Institute at its campus in Auburn,

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Chris Rock: Bring the Pain of Economic Ignorance

Monday, December 8th, 2014 by posted in Capitalism, Economics, Regulation.

Late in his life, Murray Rothbard had a law that stated: “people tend to specialize in what they are worst at.” While the aphorism is definitely true about some specialists, more often than not the reverse is accurate. Artists have

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To LIcense or Not to License

Monday, December 8th, 2014 by posted in Capitalism, Economics.

Imagine the following scenario: Two adults, both in full possession of their faculties, agree to engage in a certain interaction, which they both expect to be mutually beneficial. But this activity is fraught with risk. There is a distinct imbalance

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Will Prediction Markets Undermine State Power?

Friday, December 5th, 2014 by posted in Economics.

Prediction markets are wonderful things. They apply the power of markets to elicit the best available entrepreneurial knowledge and insight, and they do so for things that ordinarily couldn’t be subject to market exchange. A steel futures market, a market

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Are these two events linked?

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

From today’s Open Europe news summary: According to documents seen by Reuters, Eurozone finance ministers are considering extending Greece’s bail-out programme, due to end this year, by six months to the middle of 2015. However, a Greek government official insisted that

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Hong Kongers vs. Mainlanders

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

Hong Kong has been enjoying a capitalist system since for a long time. Even after 1997, the region has kept this feature, which makes it significantly different from mainland China. However, tension between the people in Hong Kong and the

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The Rhetorical Significance of the 1920-1921 Depression

Wednesday, December 3rd, 2014 by posted in Economics.

Jim Grant has a new book out on the 1920-1921 depression in the United States, and the relevance it has for macro policy. (Here you can listen to Tom Woods interview Grant about the book.) Because of Grant’s book, mainstream

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Democracy or The Rule of Law

Tuesday, December 2nd, 2014 by posted in Politics.

One of the most heated topics last month was the protest in Hong Kong, led by students who were later joined by other Hong Kong citizens. The main issue between the government and the protesters is the Chief Executive Election

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John H. Dunn & The Financial Crisis of 1837

Sunday, November 30th, 2014 by posted in History.

It would be a grave mistake to neglect the financial crisis behind the Upper Canadian Rebellion of 1837 [1]. In the first half of the 19th century, Upper Canada was an economically-backward British colony. British money funded the roads, canals

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On the Swiss Gold Referendum

Sunday, November 30th, 2014 by posted in Banking, Capitalism, Economics.

The Swiss gold initiative has come and gone. It can be summarized as much ado about nothing. Even if it had passed, the initiative would have had no real impact on the Swiss National Bank’s ability to print money or

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The Continuing Story of Involuntary Servitude

Sunday, November 30th, 2014 by posted in Civil Liberties, Law.

The word slavery conjures up the most horrific images of evil and injustice in modern mind, on par with just about any other atrocity we can imagine. And rightly so. Nothing interferes with the fundamentally human right to control ones

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Krugman: “Sticky Wages I Win, Flexible Wages You Lose”

Sunday, November 30th, 2014 by posted in Economics.

The fun thing about Paul Krugman is that you often can use his own charts against him. For a recent example, consider the issue of “sticky wages.” One of the typical complaints against a hardline “the market always clears” position

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Is It Wrong to Require Work on Black Friday?

Thursday, November 27th, 2014 by posted in Capitalism, Economics.

Supporters of workers’ rights have two tropes they constantly revisit. The first is the argument for higher wages – either an increased minimum wage or the dreaded “living” wage. The demand for higher government-enforced pay seems incapable of dying a

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Egalitarianism without Equality is Tyranny

Thursday, November 27th, 2014 by posted in Education, Philosophy.

Egalitarianism is the favorite religion of the left.The idea of equality has always been cherished, from the French revolutionary cry of egalite, liberte, fraternite, to the modern obsession with income inequality being the source of all the world’s evils. It

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Property Rights as Social Justice Part II

Wednesday, November 26th, 2014 by posted in Philosophy.

Read Part I here. Accompanying the somehow lawful state and nearly lawless state is the state of war. Such phenomena do not appear accidental. It does not seem overly difficult to recognize that, when properties are not legally protected, it

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Will someone please stop this man before he hurts himself?

Wednesday, November 26th, 2014 by posted in Banking, Capitalism, Economics.

From today’s Open Europe news summary: Juncker unveils his €315bn investment package for Europe Speaking to the European Parliament this morning, European Commission President Jean-Claude Juncker unveiled his plan for a €315bn investment fund – backed by €8bn from the

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Criminal Justice as a Domestic and Local Phenomenon

Wednesday, November 26th, 2014 by posted in Law, Philosophy.

How ought we to treat criminals? How ought justice be dispensed? These are important questions, and trying to answer them raises many difficulties, not the least of which is that no two criminals are exactly alike in deed, in motive,

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Government debates fractional-reserve banking

Wednesday, November 26th, 2014 by posted in Banking, Capitalism, Economics.

Three cheers to Steve Baker, Conservative MP from Wycombe, for raising the delicate yet important of matter of fractional-reserve banking in Britain´s House of Commons. We are in a debt crisis of historic proportions because for far too long profit-maximising

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Sons of Anarchy!

Wednesday, November 26th, 2014 by posted in Events.

If you find yourself in the Vancouver area Friday, December 12th at 7:00pm, head on down to the The Railway Club (directions below) for a night of philosophical talks on anarchy. Hosted by LibertyMingle, Sons of Anarchy will feature three

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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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