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My letter to the Financial Times, London re: Socialized monetary union means constant meddling into sovereign affairs

Tuesday, June 24th, 2014 by posted in Capitalism, Economics, Socialism.

Dear Sirs: Wolfgang Munchau’s post on June 23rd titled “Merkel versus Renzi for the future of the eurozone” illustrates the inherent weakness of the European Monetary Union.  Like all socialized services, the EMU requires constant meddling by foreigners into the

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End QE and Pop the Stock Bubble

Tuesday, June 24th, 2014 by posted in Economics.

Writing in the Financial Times this weekend, John Authers is concerned with the lack of volatility in the stock market. More remarkable than the market’s level has been its consistency. The US not seen a correction (a top-to-bottom fall of

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A New Natural Law

Monday, June 23rd, 2014 by posted in History, Law, Philosophy.

I’m often given the opportunity to speak to young interns about liberty and economics. These discussions cover a whole range of topics including anti-trust laws, private police, anti-discrimination legislation, and national defense. On some occasions, I give them Bryan Caplan’s

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A Weak Critique on Libertarianism

Monday, June 23rd, 2014 by posted in Civil Liberties, Philosophy, Politics.

When Adam Smith wrote about the division of labor in The Wealth of Nations, the industrial revolution was just getting under way. For the first time in human history, economic growth of 2% per annum was beginning. Agrarian countries started

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David Clement Joins Mises Canada As VP Of Operations

Monday, June 23rd, 2014 by posted in Announcements.

MEDIA RELEASE DAVID CLEMENT JOINS MISES CANADA AS VP OF OPERATIONS Toronto, Canada, JUNE 23, 2014 - Mises Canada is excited to announce David Clement has joined us as Vice-President of Operations. Along with working at Mises Canada, David is currently on the

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Romanticism and Liberty

Monday, June 23rd, 2014 by posted in Lifestyle, Philosophy.

Libertarianism is, first and foremost, a political philosophy, and as such most of its discussions are confined to the comparatively dry realms of politics, economics and law. Intellectuals can spend their whole lives engaging in lofty, academic discourse that few

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My letter to the Philadelphia Inquirer re: Wanting to jail the wrong bankers

Monday, June 23rd, 2014 by posted in Banking, Economics.

Dear Sirs: Mr. Joseph N. Distefano’s column “Should some bankers be in jail?” targets the wrong the bankers.  Sure, private sector banks made what ultimately came to be revealed as bad loans, but why would they do this?  There is

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Make a New Nation, in the Digital Cloud

Sunday, June 22nd, 2014 by posted in Capitalism, Law, Regulation.

We’ve come a long way in 100 years. We’ve moved from the first terrifying experiment in the use of violence as a universal tool of world order – embodied in the murderous “Great War” — to the point where we

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Understanding the Price Level

Sunday, June 22nd, 2014 by posted in Capitalism, Economics.

When I teach Austrian economics, I spend a lot of time explaining the three uses of money–holding, spending, and investing–and how only spending and investing affect the overall price level.  This helps my students understand that the total money supply

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Krugman: Whether “Potential GDP” Is Way Down or Unchanged, It Proves We Need Stimulus

Saturday, June 21st, 2014 by posted in Economics.

The time span between utterly contradictory Krugman talking points keeps shrinking. The latest example involves the notion of “potential GDP” and how it relates to the case for government stimulus. In less than a year, Krugman went from arguing that

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End Ottawa´s Equalization Program

Friday, June 20th, 2014 by posted in Capitalism, Economics.

Hot off her Ontario electoral win, Kathleen Wynne is taking aim at Ottawa. The federal government´s equalization program distributes money between the provinces to help those with less fiscal capabilities deliver the same services. In an interview with the CBC,


My letter to National Review Magazine re: Free trade is NOT a “prisoner dilemma”

Friday, June 20th, 2014 by posted in Capitalism, Economics, Politics.

Dear Sirs: I despair that National Review has run such a piece of economic ignorance as Oren Cass’s “Fight the Dragon”, in which he calls on the US to wage economic war on China.  The basis of his claim that

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Public Sector Strikes Need Competition

Friday, June 20th, 2014 by posted in Capitalism, Economics.

It’s not often police officers and firefighters light fires in the streets (in front of City Hall no less). That’s exactly what happened in Montreal recently, as public union members protested the Quebec government’s intent to reform their municipal pension


NPR Guest Sounds Rothbardian on Nature of the State

Thursday, June 19th, 2014 by posted in Law, Politics.

During a June 18, 2014 interview on the NPR show “All Things Considered,” the guest was discussing the funding of the ISIS group that is currently taking over positions in Iraq. Ironically, the framing of the issue by NPR was very Rothbardian. The

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ORPP on CityTV Toronto

Thursday, June 19th, 2014 by posted in Announcements, Education, Politics, Socialism.

On June 16, 2014 Chris Horlacher, Vice-Chairman of Mises Canada, appeared on CityTV Toronto with Melanie Ng to discuss the Liberal Party’s proposed new Ontario Retirement Pension Plan (ORPP).  Below is a video of the segment that aired. Chris has

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Rent Seeking, the Lanham Act, and Pomegranates

Thursday, June 19th, 2014 by posted in Economics, Law.

The Lanham Act, originally enacted in 1946, is the premier law protecting trademark law in the United States. I have gone on record multiple times opposing the idea of intellectual property, including trademarks, and have no intention of repeating those

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How to follow IMF advice

Thursday, June 19th, 2014 by posted in Capitalism, Economics, Regulation.

From today’s Open Europe news summary: The FT reports that the IMF will today urge the ECB to consider US-style ‘quantitative easing’, including “large scale” purchases of government bonds, to tackle low inflation and boost growth in the eurozone. FT More monetary

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My letter to the Financial Times, London re: Fed oversight will not prevent shadow bank losses

Wednesday, June 18th, 2014 by posted in Banking, Economics, Regulation.

Dear Sirs: In his June 17th essay titled “Make shadow banks safe and private money sound” Mr. Paul McCulley displays a good understanding of the functional mechanics of commercial bank credit creation, shadow bank credit creation, and the powers of

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Inequality Did Start Around 1970

Wednesday, June 18th, 2014 by posted in Banking, Economics.

In this post by Bob Murphy, some commenters disagree with the use of the early 1970s as the point when income and wealth inequality started to become a problem. Thomas Piketty has recently gained some fame for pointing this out.


Government Motors Fails Again

Tuesday, June 17th, 2014 by posted in Uncategorized.

Reposted from Forbes General Motors has provided more fodder for Chief Executive Officer Mary Barra’s return engagement with Congress.The Detroit-based automaker recalled another 3.16 million 2000 to 2014 model year vehicles, according to a U.S. regulatory filing Monday. It was

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