Re: Banks face pushback over surging compliance and regulatory costs Re: ECB warns of risks posed by shadow banking sector Dear Sirs: Nowhere in your excellent article about shareholder concern over whether banks are spending their regulatory compliance money wisely
Archive for May, 2015
My letter to the Financial Times, London re: Do bank regulations actually work?
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Production Versus Consumption Part 2
Technology and Capital Goods This essay originally appeared in the October 1964 issue of The Freeman. An abridged and slightly revised version subsequently appeared in The Objectivist Forum of August 1980. The present, unabridged version incorporates most of the wording
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John Nash’s Equilibrium Concept in Game Theory
With the tragic deaths (in a taxi accident) of John Nash and his wife, people have been explaining Nash’s contributions to the general public. The single best piece I’ve seen so far is this one by John Cassidy. However, even
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Production Versus Consumption Part 1
PRODUCTION VERSUS CONSUMPTION This essay originally appeared in the October 1964 issue of The Freeman. An abridged and slightly revised version subsequently appeared in The Objectivist Forum of August 1980. The present, unabridged version incorporates most of the wording changes
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How Does It Know?
IMF Says China’s Currency No Longer Undervalued The International Monetary Fund announced on Tuesday that for the first time in over a decade China’s currency is no longer undervalued (SCMP). U.S. policymakers have long criticized China’s artificial weakening of the renminbi,
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Greece Needs a Magic Formula
Originally appeared at Forbes.com If your only ambition is to go from terrible to mediocre — to get your country off the international business pages so it can suffer in anonymity — then you can perhaps argue that most things
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Walter Block Responds on Negative Interest Rates
I thank this author: Bhansali, Vineer. 2015. “Look at Negative-Yielding Bonds as Insurance.” May 20; for mentioning an old publication of mine: Block, Walter E. 1978. “The Negative Rate of Interest: Toward a Taxonomic Critique,” The Journal of Libertarian Studies: An Interdisciplinary
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A Portrait of the Classical Gold Standard
Reprinted from Mises.org “The world that disappeared in 1914 appeared, in retrospect, something like our picture of Paradise,” wrote the economist Cecil Hirsch in his June 1934 review of R.W. Hawtrey’s classic, The Art of Central Banking (1933). Hirsch bemoaned
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Should We Dump the Euro?
The Greek drama continues to unfold with the risk of a “Grexit” becoming increasingly likely. Yet, a large majority of the Greek people want to keep the euro. This would force the Greek government to live within its means, which
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“Utility” in Economics vs. “Happiness” in Normal Conversation
In my last blog post here at Mises CA, I picked up on a dispute over interpersonal utility comparisons that involved some prominent free-market economists. David R. Henderson (whose side I had taken) linked to my post with approval at
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Can We Compare People’s Utilities?
There has been a flareup in free-market economist circles over the issue of “interpersonal utility comparisons.” First Tyler Cowen wrote a post that took it for granted that a rich man got less utility from an extra dollar than a
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My letter to the NY Times re: Why laid off American workers can’t find jobs
Re: The Perils of Globalization Dear Sirs: I believe that Binyamin Appelbaum may have unwittingly answered his own question about why American workers who lose their jobs-as illustrated by the former Maytag employees in Galesburg, Illinois-have such a difficult time
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Stones into Bread: The Keynesian Miracle
[Originally printed in Plain Talk, March 1948, and reprinted in Planning for Freedom]. Reprinted from Mises.org The stock-in-trade of all Socialist authors is the idea that there is potential plenty and that the substitution of socialism for capitalism would make it possible
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Greeks get Mercedes and BMW’s; Germans get depreciating euros
Re: Where Greeks Are Stashing Their Cash Ludwig von Mises characterized the third and final stage of a currency’s collapse, where people are desperate to exchange their currency for almost anything of real value, as a “crack up boom”. Notice
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The Temptations of Emperors: How Lincoln and Roosevelt Mocked Constitutional Restraint
Oh, how we fret! Rightfully, of course, for nothing is more frightening to the American Mind than the specter of overweening authority. During the second Bush Administration, the Left was beside itself with concern over executive overreach (from the Iraq
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Leading German Keynesian Economist Calls For Cash Ban
Reprinted from Zerohedge.com It’s official: the world has gone central-planner crazy. Monetary policy, whether in the form of “conventional” methods such as the micromanagement of policy rates or so-called “unconventional” measures such as QE, has proven utterly ineffective when it
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The War on Cash Destroys a Small Entrepreneur
Reprinted from LewRockwell.com Lyndon McClellan is a small entrepreneur who owns and operates L & M Convenience Mart in Fairmont, North Carolina. L & M comprises a gas station, convenience store, and a small restaurant serving hot dogs, hamburgers, and catfish
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Is the “Austrian School” a Lie?
Reprinted from the Freeman Do those of us who use the word Austrian in its modern libertarian contextmisrepresent an intellectual tradition? We trace our roots back through the 20th century’s F.A. Hayek and Ludwig von Mises (both served as advisors to FEE)
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May Mises Meet!
It’s time for the alliterative May Mises Meet! This only happens twice a year, so make sure you can make it out! Come on out to the Pauper’s Pub for Mises Canada’s monthly meet up on Tuesday, May 19 at
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