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Who Cares for Toronto’s Sidewalks?

Wednesday, August 20th, 2014 by posted in Capitalism, Economics, Environment, Law, Politics, Regulation.

In Toronto an important debate is starting to stir about who controls the sidewalks – the city or the owners of the adjacent properties. Sparking this debate is a bicycle owner, Lisa Ferguson, who thought her bike was stolen when

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Does Sexism Explain Dry Cleaning Prices?

Tuesday, August 19th, 2014 by posted in Capitalism, Economics.

A recent Vox article claimed in its title: “Dry cleaners charge women more, and it matters more than you realize.” Yet as with most of these analyses, the discussion ignores basic principles of economics. Rather than viewing an initially surprising


Mainstream Economists Rediscover the Marginal Pair

Tuesday, August 19th, 2014 by posted in Economics.

In his book, The Positive Theory of Capital,[1] Eugen von Böhm-Bawerk developed a theory of price formation centered around the valuations of the “marginal pairs.”[2] That is, there are four market participants whose subjective valuations play a special role in

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The Empirical Nature of the Praxeological Method

Tuesday, August 19th, 2014 by posted in Uncategorized.

The praxeological method has long been a category of Austrian economics that brings great interest to me. Originally, it was the “shiny” aspects of the school that drew me to Austrianism. Business cycle theory is just one such example. However,


Bird Lovers of the World, Unite!

Tuesday, August 19th, 2014 by posted in Economics, Environment.

Environmentalists think there are some free lunches out there, at least when it comes to energy production. Over the past decade green alternatives, such as solar and wind, have become popular alternatives to the older providers of energy, such as

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Ferguson’s Segregated Ruling Class

Monday, August 18th, 2014 by posted in Civil Liberties, Economics.

There might not be any easy answers to what’s going on in Ferguson, Missouri, but there are points that might make it just an extreme case of a more general problem. Some commentators have chimed in to claim that the

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The Lawyers’ Guild

Monday, August 18th, 2014 by posted in Education, Law.

Last month, thousands of recent law school graduates sat for a bar examination in their chosen state of practice. They were not undertaking a harmless rite of passage but overcoming a malicious obstacle: an artificial barrier to entry in the

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Oh, no! Not lower prices!

Monday, August 18th, 2014 by posted in Economics.

From today’s Open Europe news summary: Italian Finance Minister Pier Carlo Padoan has said in an interview that the ECB “has to be consistent and bring [eurozone] inflation close to 2%…which is very far from current levels.” Separately, Handelsblatt reports that the

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Germany cannot carry Europe any longer

Monday, August 18th, 2014 by posted in Economics, Politics.

From today’s Open Europe news summary: Persson: Eurozone still an awfully long way from becoming a healthy and vibrant economic bloc In the Sunday Telegraph, Mats Persson argued that while the risk of a euro breakup has subsided, “the currency zone

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Low Interest Rates Harm Everyone

Monday, August 18th, 2014 by posted in Banking, Capitalism, Economics.

It’s not just poor pensioners who are harmed by central banks’ ultra-low interest rate targets. Governments are now also getting squeezed. Pension plans like social security rely on, historically, fixed-income investments to provide returns for the future payouts. With interest

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Conservatives Embrace Disparate Impact?

Monday, August 18th, 2014 by posted in Law, Politics, Regulation.

Libertarians know politics is a poor man’s way to effect long-lasting change. Voting certainly brings immediate results. But it doesn’t change attitudes. It takes a sustained didactic campaign to spread ideas. And sometimes, circumstance plays a critical role in ensuring

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Debunking Piketty’s Capital with George Reisman

Saturday, August 16th, 2014 by posted in Capitalism, Economics.

John O’Donnell and special guest George Reisman discuss Piketty’s new book Capitol in the Twenty-First Century. They discuss Reisman’s recent review of the book entitled Wrong Theory/Destructive Program. They also discuss education and its lack of substance in the U.S.

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Against “The Pragmatic Libertarian Case for the Basic Income Guarantee”

Friday, August 15th, 2014 by posted in Uncategorized.

Self-styled “Bleeding Heart Libertarian” Matt Zwolinski is out with a new series of essays defending a “basic income guarantee” (BIG). For those who don’t know, a BIG is a program where the government gives everyone, regardless of wealth or income,

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The Economics of Immigration

Thursday, August 14th, 2014 by posted in Economics.

In economist George Borjas’ new book Immigration Economics, he poses a problem, which, on the surface appears to be unexplainable using the tools of classical economics. The problem is this: if an increase in the supply of a good tends

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August Mises Meet!

Thursday, August 14th, 2014 by posted in Events.

Summer is almost coming to an end, but the fight for liberty goes on!Join the Ludwig von Mises Institute of Canada for our monthly meet up on Tuesday August 26, at 7 pm, at the Pauper’s Pub! Enjoy food, beverage, and

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The Case Against a Maximum Wage

Wednesday, August 13th, 2014 by posted in Economics, Regulation.

The minimum wage has been such a hot topic of debate over the last year or so that journalists and commentators have apparently gotten sick of it and are instead proposing still crazier ideas of ways in which the government

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The Privilege of Watching War

Monday, August 11th, 2014 by posted in Foreign Policy, Lifestyle.

Iraq War the Third is now in its nascent stages. Last week, after a slew of confused press reports, President Obama ordered a number of airstrikes in the Northern territory of Iraq. This was called a “humanitarian intervention” to protect


Fed Fueled M & A Destroys Capital

Monday, August 11th, 2014 by posted in Banking, Economics.

The world’s central bankers have given companies the urge to merge. Merger and Acquisition (M&A) activity has already reached $2.2 trillion this year according to Thomson Reuters Deals Intelligence, up 70% from this time a year ago. The deals are

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Dating and Politics

Friday, August 8th, 2014 by posted in Politics.

Last fall, a study from the Pew Research Center’s Internet and American Life Project concluded that a majority of Americans believe online dating is “a good way to meet people.” When polled, six out of ten respondents had positive views

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Krugman Admits His Inflation Model Has Been Wrong Since Great Depression

Thursday, August 7th, 2014 by posted in Economics.

Precisely because Paul Krugman and I have had an unpleasant exchange of views on the subject, I realize there is a danger in me beating a dead horse, or appearing to be making excuses, whenever I return to the topic of