Venezuela declared home rule from Spain

On April 19th, 1810, Venezuela overthrew its Spanish colonial masters and established a Junta Suprema de Caracas to take power, beginning a war of independence. There were reverses and reconquests along the way, but the incident initiated a train of events that led to full independence from Spain. Venezuela was the first Spanish colony in America to declare independence.The country is well situated and exported agricultural crops including...

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My intrepid Mercatus Center colleague Veronique de Rugy rightly bemoans government subsidies for producers and drivers of electricity-powered vehicles. A slice: Almost 80% of those utilizing the EV tax credit have incomes over $100,000, making it not just a corporate handout but also a transfer from all workers to wealthier Americans. And despite its advocates’ claims, the EV tax credit fails to reduce the alleged threat of climate change....

F. A. Hayek: Economics, Political Economy and Social Philosophy — the podcasts

My book on Hayek was published last September.  Since that time I have presented the book at several colleges and universities, and did multiple podcasts. I am going to provide links to those here so readers can track them down easily.  I still would love to do one with Russ Roberts at EconTalk, as I think we could have a great conversation on Hayek.  That is a hint for those who know Russ to write to him :) My new book (with Paul Aligica and...

No Joy In Never-Trumpville: Mighty Mueller Has Struck Out, Part 1

When Should You Sell Your Gold and Silver? (GoldCore Video)

[embedded content] Watch Video Here – Your family who once dismissed you as a crazed gold bug, now herald you as an investment guru! – When there is widespread confidence in the dollar, euro, pound and all fiat currencies – When the next financial and monetary crisis is over and a degree of stability and sanity prevails! – When the massive global debt bubble has burst and the debt burden has been reduced or eliminated – When...

Coffee Robots, Struggling Lobbyists, and Questionable Diets

Want weekend reads delivered to your inbox every Friday afternoon? Click here to sign up. Electric Scooters Have Zipped by Docked Bikes in Popularity Cathy Bussewitz | The Associated Press | Tweeted by Jennifer Huddleston In the heated competition between micromobility startups, people took two million more rides on shared electric scooters than docked bikes last year. Face It: You (Probably) Got a Tax Cut Ben Casselman and Jim Tankersley |...

Fun on Friday: What’s the Big Deal About the Stanley Cup?

So, what do you think about the Muller report? I think it completely exonerates the president! No, wait. I think it shows he’s absolutely guilty and should be impeached! No, wait…Actually, I think the whole thing goes to show how people can spin political theater any way they want to, depending on their political proclivities. I don’t really have any political proclivities – at least not when it comes to party politics. I haven’t been...

Bohm-Bawerk’s Own Theory of Interest

In ep. 28 of the Bob Murphy Show, I lay out Bohm-Bawerk’s own theory of interest.

Ep. 1388 Abolish the CIA

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California’s Housing Bubble Counts on Blistering Population Growth, But it’s Fizzling

Los Angeles population drops, San Francisco & Silicon Valley population rises least since 2010, North Bay’s population drops. The housing market in California with its sky-high home prices depends on blistering population growth. So here we go. The population of Los Angeles County, at 10.1 million, declined by about 13,200 people (-0.1%) in the 12 months through July 1, 2018, according to the Census Bureau’s new estimates. It was the...

Russia’s Military Doctrine For 2019 And Beyond

Submitted by South Front The term “Gerasimov Doctrine”, apparently wholly made up Mark Galeotti who, to his credit, owned up to his mistake, has been used by the Western media to the point of obscuring the real work on developing national security doctrines for Russia’s 21st century needs.  In this work, General Valeriy Gerasimov, Chief of General Staff of the Russian Federation Armed Forces, has played a major role. During a recent...

Necessity is the Mother of Invention – Retirees Desperate Reach for Yield

Ben Bernanke’s creativity inspired a generation of economists and central bankers. QE, ZIRP and NIRP established a new class of economics that is mathematically sound but practically disastrous. Billions of dollars were transferred from savers to investors to boost the economy, but the wizards of quant forgot that something has to give. In this case, it was the formation of a pension crisis that threatens the golden years of millions of...

Open Borders and Self-Determination

One of the main philosophical arguments against free immigration that Bas van der Vossen and Jason Brennan seek to rebut in their excellent In Defense of Openness is an argument offered by Christopher Wellman. (pp.48-52) Here I want to offer a simple and friendly substitute for their complex rebuttal of Wellman.  My substitute moves much more quickly to the core of the matter and avoids the surprisingly statist tone and terminology of the...

To Become an American, Prove You Haven’t Smoked Pot

One requirement for immigrants to naturalize and receive U.S. citizenship is that they affirmatively demonstrate “good moral character.” America’s nanny staters have decided that consuming marijuana in any form is, well, immoral. The Trump administration decided this week to clarify further that it is still immoral to use, share, sell, or manufacture marijuana that is legal at the state level. The updated guidance states: An applicant cannot...

New Inflation Indicator, Report 14 Apr

Last week, we wrote that regulations, taxes, environmental compliance, and fear of lawsuits forces companies to put useless ingredients into their products. We said: “For example, milk comes from the ingredients of: land, cows, ranch labor, dairy labor, dairy capital equipment, distribution labor, distribution capital, and consumable containers.” There are eight necessary ingredients, without which milk cannot be produced. But, today, the...

First Thoughts

The report (pdf) by Special Counsel Robert Mueller is out. Russiagaters will now try to find any word in there that they could use to contradict the report’s conclusion. While I intend to read the full report and to write about it, that will require more time. For now we are left with the remarks of Attorney General William P. Barr on the release of the report: As you know, one of the primary purposes of the Special Counsel’s investigation was...

No Joy In Never-Trumpville: Mighty Mueller Has Struck Out, Part 1

New Inflation Indicator, Report 14 Apr

Last week, we wrote that regulations, taxes, environmental compliance, and fear of lawsuits forces companies to put useless ingredients into their products. We said: “For example, milk comes from the ingredients of: land, cows, ranch labor, dairy labor, dairy capital equipment, distribution labor, distribution capital, and consumable containers.” There are eight necessary ingredients, without which milk cannot be produced. But, today, the...

First Thoughts

The report (pdf) by Special Counsel Robert Mueller is out. Russiagaters will now try to find any word in there that they could use to contradict the report’s conclusion. While I intend to read the full report and to write about it, that will require more time. For now we are left with the remarks of Attorney General William P. Barr on the release of the report: As you know, one of the primary purposes of the Special Counsel’s investigation was...