Mises Canada
Mises Canada
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  • Reprinted from Mises.org For most financial commentators an important factor that either reinforces or weakens the effect of changes in money supply on economic activity and prices is a velocity of money. It is alleged that when the velocity of money rises, all other thing being equal, the buying power of money declines (i.e., the prices […]

Mises Canada
Mises Canada
Blog Post
  • [The Capitalist and the Entrepreneur (2010)] Reprinted from Mises.org While Schumpeter, Kirzner, Cantillon, Knight, and Mises are frequently cited in the contemporary entrepreneurship literature in economics and management, much of this literature takes, implicitly, an occupational or structural approach to entrepreneurship. Any relationship to the classic functional contributions is inspirational...

Mises Canada
Mises Canada
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  • Excerpted from Epistemological Problems of Economics. Reprinted from Mises.org The reproach of individualism is commonly leveled against economics on the basis of an alleged irreconcilable conflict between the interests of society and those of the individual. Classical and subjectivist economics, it is said, give an undue priority to the interests of the individual over those of […]

Mises Canada
Mises Canada
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  • Reprinted from FEE.org In Internet slang, they are called the HODLers, the people who are clinging to their Bitcoin and refusing to spend it. Instead, they just refresh their wallet apps, feeling richer by day while deferring consumption. Many of these burgeoning millionaires live like paupers. I’ve met many of them: all over the U.S., in […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from Mises.org The skyrocketing price of Bitcoin has dominated the financial news for the past few weeks, and the usual suspects are queuing up to offer predictions about its continued rise or inevitable fall. Yet it’s not all good news for fans of the cryptocurrency: in a notable decision, the digital distribution platform Steam […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from Mises.org Recently Senator Ted Cruz aggressively questioned Janet Yellen on the Fed’s possible role in causing the financial crisis and subsequent recession. In particular, he claimed that “in the summer of 2008” the Fed “told markets that it was shifting to a tighter monetary policy,” and that this announcement “set off a scramble for cash, […]

Mises Canada
Mises Canada
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  • Reprinted from FEE.org When Murray Rothbard’s America’s Great Depression first appeared in print in 1963, the economics profession was still completely dominated by the Keynesian Revolution that began in the 1930s. Rothbard, instead, employed the “Austrian” approach to money and the business cycle to explain the causes for the Great Depression, and to analyze the misguided and counterproductive po...

Mises Canada
Mises Canada
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  • A few days ago my wife and I watched a fascinating program on PBS. The long running Nova series featured the history and accomplishments of the Hubble Space Telescope. The program was titled Invisible Universe Revealed. This episode was composed of three parts.   The first third of the program explained how the astronomers secured […]

Mises Canada
Mises Canada
Blog Post
  • With President Trump’s proposed tax cuts on the table, the conservatives are making their traditional argument that increased government revenues from increased economic growth will offset reduced tax receipts from lower tax rates, and will prevent the budget deficit from increasing. Tax cuts pay for themselves, they argue. Tax cuts do grow the economy, but […]

Mises Canada
Mises Canada
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  • [This article was originally published in 1947 as a pamphlet from Human Events Associates. It was reprinted in 1962 as chapter 22 of of Out of Step: The Autobiography of an Individualist.] Mises.org The Encyclopaedia Britannica defines taxation as “that part of the revenues of a state which is obtained by the compulsory dues and charges upon its subjects.” […]

Mises Canada
Mises Canada
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  • Reprinted from Mises.org In 1944 Professor Hayek emphasised that sustainable employment depends on an appropriate distribution of labour among the different lines of production. This distribution must change as circumstances change. Sustain able employment thus depends on appropriate changes in relative real wage-rates. If established producers—both unions and capitalists—prevent such relative cha...

Mises Canada
Mises Canada
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  • [This article is excerpted from Economic Thought Before Adam Smith.] Reprinted from Mises.org The views of the great philosopher Aristotle are particularly important because the entire structure of his thought had an enormous and even dominant influence on the economic and social thought of the high and late Middle Ages, which considered itself Aristotelian. Although Aristotle, […]

Mises Canada
Mises Canada
Blog Post
  • In a now-famous appearance on Joe Rogan’s podcast, psychologist Jordan B. Peterson pointed out how strange it is that many politically-engaged young people are preoccupied with reorganizing society and the economic system when they can’t even organize their own bedrooms. He said: …don’t be fixing up the economy, 18-year-olds. You don’t know anything about the […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from Mises.org January is that time of year where resolutions get made. Improvements to guide your behavior over the next twelve months and hopefully allow you to usher in the coming year a better person than you once were. That the resolution making of January follows the gift giving of Christmas generally means that […]

Mises Canada
Mises Canada
Blog Post
  • Fractional reserve banking (FRB) is fraudulent. It should be prosecuted as a crime rather than accepted as normal practice under current banking laws. Any society that respects property rights and the rule of law would not allow it. For those unfamiliar with the term fractional reserve banking or not quite confident of its complete meaning, […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from FEE.org December 19 marks the birth of John Taylor of Caroline, who remains virtually unknown, despite being called “the most impressive political theorist that America has produced.” Taylor, who served in the Continental Army, Virginia Legislature and U.S. Senate, was an Antifederalist, opposed to the overpowering central government he believed the Constitution would […]

Mises Canada
Mises Canada
Blog Post
  • From “The Exhaustion of the Reserve Fund” in Human Action, Chapter XXXVI by Ludwig von Mises. Reprinted from Mises.org The idea underlying all interventionist policies is that the higher income and wealth of the more affluent part of the population is a fund which can be freely used for the improvement of the conditions of the […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from FEE.org In August 1914, Europe’s major powers threw themselves into war with gleeful abandon. Germany, a rising power with vast aspirations, plowed across Belgium, seeking to checkmate France quickly before Russia could mobilize, thereby averting the prospect of a two-front war. Thousands of young Germans, anticipating a six-week conflict, boarded troop trains singing […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from Mises.org I applaud the online magazine Slate for its recurring series on “the dismal science,” as they call it. Rather than boring discussions of the housing market or the NASDAQ index, economists such as Steven Landsburg and others tackle interesting issues. Don’t get me wrong, I just about always disagree with the columns. […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from LewRockwell.com At the heart of the Christmas story rests some important lessons concerning free enterprise, government, and the role of wealth in society. Let’s begin with one of the most famous phrases: “There’s no room at the inn.” This phrase is often invoked as if it were a cruel and heartless dismissal of […]

Mises Canada
Mises Canada
Blog Post
  • Reprinted from Mises.org The Christmas Truce, which occurred primarily between the British and German soldiers along the Western Front in December 1914, is an event the official histories of the “Great War” leave out, and the Orwellian historians hide from the public. Stanley Weintraub has broken through this barrier of silence and written a moving […]

Mises Canada
Mises Canada
Blog Post
  • Tucker, Jeffrey A. “Is Christmas Inefficient?” The Free Market 15, no. 12 (December 1997). Reprinted from Mises.org After hundreds of years of attacks on Christmas, economists have finally gotten into the act. Yale University’s Joel Waldfogel, writing in the American Economic Review, condemns what he calls “The Deadweight Loss of Christmas.” Once you cut through the […]

Mises Canada
Mises Canada
Blog Post
  • 20This article is excerpted from The Anti-Capitalistic Mentality (1956), section III, “Literature Under Capitalism.” Reprinted from Mises.org The Market for Literary Products Capitalism provides many with the opportunity to display initiative. While the rigidity of a status society enjoins on everybody the unvarying performance of routine and does not tolerate any deviation from traditional patter...

Mises Canada
Mises Canada
Blog Post
  • Reprinted from AEI In 1845, during a period when there was a rising tide of protectionism in France, the French economist Frederic Bastiat (pictured above) wrote a famous satirical parable known as “The Candlemakers’ Petition.” In that famed economic fable, Bastiat humorously wrote to the French parliament on behalf of French candlemakers and lantern makers […]

Mises Canada
Mises Canada
Blog Post
  • [From Man, Economy, and State, with Power and Market] Reprinted from Mises.org Up to this point we have discussed the case in which the owners of land and labor, i.e., of the original factors, restrict their possible consumption and invest their factors in a production process, which, after a certain time, produces a consumers’ good to […]

Mises Canada
Mises Canada
Blog Post
  • This article is excerpted from chapter XVIII of Frank Chodorov’s Out of Step. Reprinted from Mises.org The dogma that the State or the Government is the embodiment of all that is good and beneficial and that the individuals are wretched underlings, exclusively intent upon inflicting harm upon one another and badly in need of a guardian, is […]

Mises Canada
Mises Canada
Blog Post
  • Ludwig von Mises, in his masterpiece Human Action, presents and explains the entire body of economic theory as implied in, and deducible from, one’s conceptual understanding of the meaning of action (plus that of a few general, explicitly introduced assumptions about the empirical reality in which action is taking place). He calls this conceptual knowledge the […]

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