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Episode 40: Mark Thornton – Currency Wars, Depreciation, and Gold/Silver

Thursday, February 20th, 2014 by posted in Banking, Capitalism, Economics.

Make sure you catch Director of Mises Canada Redmond Weissenberger’s daily podcast “Better Red than Dead.” The latest episode features Mark Thornton, a senior resident fellow at the Ludwig von Mises Institute in Auburn, Alabama and the book review editor for

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Walter Block to Speak at Columbia University

Thursday, February 20th, 2014 by posted in Announcements, Events.

Mises Canada Board Member, economist, and libertarian theoretician Walter Block will be speaking at Columbia University on March 27, 2014. Reprinted from Circle Bastiat Thursday, March 27, 8:30pm 312 Mathematics Building, Columbia University (entrance at 116th and Broadway) From the press

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My letter to the NY Times re: Fuel Economy Economic Nonsense

Thursday, February 20th, 2014 by posted in Capitalism, Economics, Regulation.

Re: Obama Orders New Efficiency for Big Trucks Dear Sirs: President Obama needs a lesson in Econ 101.  Requiring that business meet a new fuel economy standard in order to achieve some environmental goal, no matter how discredited the theory,

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My letter to the NY Times re: A tale of two banking models

Thursday, February 20th, 2014 by posted in Banking, Capitalism, Economics, Regulation.

Re:  Fed Closes a Loophole for Banks Overseas Re: Lending Where Banks Can’t: Blackstone Thrives in Ireland Dear Sirs: These two articles appeared on the front page of your Business Day section on Wednesday, February 19, 2014.  Nothing could more completely

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Krugman Re-Writes His Stimulus History

Thursday, February 20th, 2014 by posted in Economics.

There’s always a danger in providing too much attention to blogger Paul Krugman, but he is definitely the Goliath of Team Keynes. Moreover, one of Krugman’s favorite rhetorical ploys is to constantly tell his readers that his predictions have been

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Politicized Science Loses Credibility

Thursday, February 20th, 2014 by posted in Environment, Politics.

Science has ceased to be a search for truth, and has instead become a tool of politics. Gone are the days of solitary researchers toiling away for years in their garages. Now, the vast majority of studies are conducted for

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David R. Henderson Points Out Huge Flaw in Pro-ObamaCare Claims

Thursday, February 20th, 2014 by posted in Economics, Health Care.

The good thing about the Internet is that there is a Hayekian safety net: When a bunch of free-market economists are idiots and overlook an obvious point, eventually somebody comes along to rescue them. For today’s example, we have the

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My letter to the NY Times re: The Fallacy of Planning–set Detroit free

Wednesday, February 19th, 2014 by posted in Capitalism, Civil Liberties, Economics, Politics, Regulation.

Re: A Picture of Detroit in Ruin Dear Sirs: Detroit does not need another worthless plan in order to deal with its problems.  To what end will a “blight plan” be put?  This is the question that should have been asked

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China’s Dollar Trap

Wednesday, February 19th, 2014 by posted in Capitalism, Economics, Foreign Policy, Politics.

Re: China Digs Itself Deeper into Dollar Trap This short Bloomberg article is written from a Chinese point of view; i.e., that China finds itself in a trap having sold over a trillion dollars in goods in exchange for what

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What Causes Inflation?

Wednesday, February 19th, 2014 by posted in Banking, Economics.

When the Bank of Canada talks about inflation, what they really mean is price inflation. That is, the general rise in prices of goods and services. Indeed, justification for the central bank is in its perceived ability “to contribute to

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The Right to Say No

Tuesday, February 18th, 2014 by posted in Law, Politics, Regulation.

In his book Groundwork of the Metaphysics of Morals, German philosopher Immanuel Kant deduced the axiomatic case for why theft is wrong. Because man should act, at all times, as if his behavior can be made universal in law, he

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Capitalism and Fast Food: Delicious Bedfellows

Tuesday, February 18th, 2014 by posted in Capitalism, Regulation.

The World Health Organization has released a lovely little report on the effects of economic deregulation on the consumption of fast food and the average Body Mass Index (BMI) of citizens. To the surprise of no one, the nutrition police

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Bernanke’s QE Programs: Has This EVER Worked in History?

Monday, February 17th, 2014 by posted in Economics.

Now that Ben Bernanke has handed over the keys of the Federal Reserve, there are all sorts of theoretical arguments, pro and con, concerning his bold quantitative easing (QE) programs, in which the Fed massively expanded its balance sheet: Many

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A. Traviss Corry Joins Mises Canada Advisory Board

Monday, February 17th, 2014 by posted in Announcements.

The Ludwig Mises of Canada strives to continually expand both the breadth of our mission and the reach of our organization. We pride ourselves on being an informed and active part of the greater discourse. This is achieved by welcoming

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My letter to Nat’l Review Magazine re: Mr. Beckworth’s wrong prescription for monetary stability

Sunday, February 16th, 2014 by posted in Capitalism, Economics, Politics.

Re: David Beckworth’s review of Money, Gold, and History by Lewis E. Lehrman   Dear Sirs: Austrian School economists recommend monetary freedom, not any specific state-supported money.  End legal tender laws and the most marketable commodities will be chosen as mediums

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Outlawing “Bankruptcy” in Europe

Sunday, February 16th, 2014 by posted in Banking, Education, Events, Politics, Politique, Regulation.

The European Union (EU) is currently discussing banning “bankruptcy.” Not the actual financial act, but the word. Apparently there is a stigma attached to going bankrupt. It leaves people thinking that perhaps you are not credit worthy and that they

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Yet More Clarification on ObamaCare Work Distortions

Sunday, February 16th, 2014 by posted in Economics, Health Care.

After publishing my recent post discussing how the proponents of the Affordable Care Act (ACA or “ObamaCare”) were making a distinction without a (significant) difference on the terms “substitution effect” versus “income effect,” I saw that Scott Sumner over at

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The real cause of sub prime lending

Saturday, February 15th, 2014 by posted in Banking, Capitalism, Economics.

Re: Wells returns to sub prime lending The author blames the banks, as if for some unknown reason bankers simply choose to expand lending to sub prime borrowers.  But the real source is the Fed’s artificial lowering of the interest

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“Income vs. Substitution Effects” Not the Issue With ObamaCare

Saturday, February 15th, 2014 by posted in Economics, Health Care.

With the Congressional Budget Office’s (CBO’s) recent announcement that the Affordable Care Act (aka “ObamaCare”) will lead to a long-term reduction of employment of (the equivalent of) 2.5 million full-time jobs, the economics pundits are arguing over the significance of

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Free Speech and the Police

Friday, February 14th, 2014 by posted in Civil Liberties, Law.

The traffic cop stands alone as one of the most unpleasant and unnecessary forms of law enforcement. Under the halfhearted guise of protecting public safety – a pretense that no one really buys into – these government agents spend most

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