Category Archives: News/ Lessons

Why Sound Money Does Not Need a Central Bank, Only the Rule of Law

The money that all nations use today is composed either of reserves created by a central bank and/or credit money created by banks via fractional reserve banking. In the first case, a central bank can create reserve money via open … Continue reading

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No Nation Can Harm Another Economically

My recent Mises Daily Article titled Two Common Objections to Unilateral Free Trade drew some criticism that I would like to answer.   Unilateral free trade rewards the country that adopts it   Several commented that my use of the … Continue reading

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Two Unfounded Objections to Unilateral Free Trade

  Recently I forwarded to my circle of friends what I considered to be a concise and accurate argument in favor of unilateral free trade. The author was Professor Don Boudreaux of George Mason University, writing in his daily blog … Continue reading

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The true reason for the EU’s call to beef up financial regulation

From today’s Open Europe news summary: European Commission considers beefing-up powers of pan-EU financial supervisors The Financial Times reports that the European Commission is considering plans to beef-up the powers of the three pan-EU financial supervisors, in a bid to … Continue reading

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End Banks’ Exemption from Normal Commercial Law

Mr. Burke asked me to respond to the article below about how banks engage in money creation. Like many such articles, the one by Mr. Werner seems almost designed to be confusing and obtuse. My short explanation attempts to inform … Continue reading

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A Sensible Economic and Foreign Policy: Part II

Part II:   A Sensible Foreign Policy: Mind Your Own Business and Set a Good Example   For the sake of peace and prosperity in the world, the US should take the true leadership role in proving to the world … Continue reading

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A Sensible Economic and Foreign Policy: Part I

A Sensible Economic Policy: Laissez Faire   The Misesean insight that all economics is based upon methodological individualism plus the no harm principle calls into question the raison d’ entre of the regulatory state, including legal tender laws; i.e., the … Continue reading

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Theresa May leads the singing of Kumbaya in Davos

  (Here’s my response to British Prime Minister Theresa May’s speech at the recent World Economic Forum in Davos, Switzerland. Find the full text of her speech below my comments.) Oh, boy…where to start?… If May wants to promote free … Continue reading

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A statist view of the world

From today’s Open Europe news summary: Meanwhile, The Guardian reported that Lodewijk Asscher, leader of the Dutch Labour party (PvdA), which is currently a partner in the ruling coalition government, has said “I propose to come to a new trade … Continue reading

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My letter to the NY Times re: Free basic income is not a solution to unemployment

Re: Free Money for the Jobless Dear Sirs: Your article about Finland’s experiment in providing a free basic income to the unemployed fails to address the main question–what exactly is the cause of unemployment and what is the best way … Continue reading

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