Austrian Economic Blogs
Adam Smith Institute
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There’s a reason to have private ownership of something like Hastings Pier – to cover the losses
The "community organisers" who lost out in their bid to purchase the bankrupt Hastings Pier are complaining. Yet there's a good reason to have such things in private hands. Shareholders, private such, don't just collect the profits when there are any, they also pay the losses when there are such:Campaigners fighting to save Hastings pier for the community are “devastated and furious” over its sale to a businessman for a fraction of...
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Wood and trees – Tesco the best, Waitrose the worst for food waste, apparently
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Perhaps it should solve the problem, but does it?
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The document that changed the world
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It’s definitely, absolutely, a measurement error – just, well, how large a one is it?
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Madsen Moment – The Minimum Wage
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Reality in the NHS
LewRockwell
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Trump Confounds the Pundits
What will come out of this week’s summit between Donald Trump and Kim Jong-un of North Korea remains to be seen, and one must hope for the best, but the bullets are already beginning to fly in the US media with The New York Times’ Nicholas Kristof declaring impulsively somewhat implausibly that Trump gave away the store by canceling military training exercises with South Korea and in legitimizing Jong-un’s rule by meeting with him without...
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Another Florida Tragedy
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Questionable Tactics
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Follow the White Rabbit?
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Father Brown
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Elon Needs More Money
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Why Americans (and Koreans) Can Sleep Better
Cato Liberty
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Will Tariffs Consume the Tax Reform Benefits U.S. Manufacturers Were Expecting?
Former White House economist Gary Cohn expressed concerns yesterday that Trump’s tariffs would erode the benefits from tax reform. Since the on-again-off-again 25 percent tariffs on imports from China are—as of 3:23pm, Friday, June 15, 2018—“on again,” let me share this back-of-the-envelope analysis that shows why Cohn’s concerns are justified. Certainly, the additional profits expected from the reduction in corporate rates from 35 to 21...
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Some Doubts about Hate Speech
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President Trump’s Curious Obsession with Crime
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Tariff Fatigue
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Some Good—Mixed with Much Bad—in GOP Immigration Deal
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I Will Bet Drew Altman $100 that ObamaCare’s Preexisting Conditions Are Unpopular
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A “Significant” Goof in Nature Climate Change?
Mauldin Letter
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The Pension Train Has No Seat Belts
In describing various economic train wrecks these last few weeks, I may have given the wrong impression about trains. I love riding the train on the East Coast or in Europe. They’re usually a safe and efficient way to travel. And I can sit and read and work, plus not deal with airport security. But in this series, I’m concerned about economic train wrecks, of which I foresee many coming before The Big One which I call The Great Reset, where...
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Debt Clock Ticking
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The Italian Trigger
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High Yield Train Wreck
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Train Crash Preview
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Credit-Driven Train Crash, Part 1
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Thoughts from the Mailbox
Max Keiser
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Want Widespread Prosperity? Radically Lower Costs
It’s easy to go down the wormhole of complexity when it comes to figuring out why our economy is stagnating for the bottom 80% of households. But it’s actually not that complicated: the primary driver of stagnation, decline of small business start-ups, etc. is costs are skyrocketing to the point of unaffordability. As I have pointed out many times, history is unambiguous regarding the economic foundations of widespread prosperity: the core...
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Thanksgiving Dinner Is Not Usually Served On A Silver Platter But This Year We May See Just That
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Money and Markets Infographic Shows Silver Most Undervalued Asset
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[KR1151] Keiser Report: Will Weapons of Mass Financial Destruction Be Used against Qatar?
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The Great Retirement Con
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Today No Metals Die: Gold & Silver Prices Rise To Finish The Week Strong
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The Demise of Dissent: Why the Web Is Becoming Homogenized
EconLog Library
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How to Believe in Free Speech
Almost all libertarians earnestly say, "I believe in free speech." Normally, though, this goes way beyond the right to speak freely. Most libertarians also believe that free speech "works" in some sense - that given a free exchange of ideas, the truth will at least ultimately prevail.On reflection, this is an awkward position. Western countries don't have completely free speech, but they are amazingly close to this...
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Why the Singapore summit might be a net plus
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War Fighting and the Loss of Liberty
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Koyama Responds on State Capacity
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Why the Surveillance State is Dangerous
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Good and bad nationalism
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Chronology of Past Jobs I Have Had, Part 2
Cafe Hayek
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Quotation of the Day…
… is from page 226 of Douglas Irwin’s superb 1996 book, Against the Tide: An Intellectual History of Free Trade: Consequently, despite the abundant and repeated criticisms that have been made about the theoretical case for free trade, the broad presumption behind free trade has not been substantially undercut, but has remained intact. DBx: Indeed so. And Doug’s point is no less true in 2018 than it was when he published these words in 1996....
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Some Links
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A Protectionist is Someone Who…
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Quotation of the Day…
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A Protectionist is Someone Who…
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Quotation of the Day…
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An Open Letter to AEI’s James Pethokoukis
Robert Murphy
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Jeff Should Go to More Bible Sessions
One of the biggest stories this week was the Trump Administration (because Sessions said it and then Sarah Sanders endorsed the general principle without saying she knew his exact words) stance that Romans 13 justifies the policy of separating children from their parents who have entered the country illegally (and even those seeking asylum though it gets nuanced on this part). Here’s Sessions: [embedded content] Here are some of my thoughts on...
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Potpourri
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For the Purposes of the Current Debate, I Don’t Think Hayek Supported a “Basic Income Guarantee”
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Raimondo on Korea
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Potpourri
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Were Grateful
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Murphy Interviewed by Mance Rayder
Bleeding Hearths Libertarians
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Separation of Families is NOT Necessary for Detention.
Social Justice, Current Events I’ve noticed that many defenders of the hateful policy of separating families at the US border claim that this is “necessary” if they are going to be detained. That’s straightforwardly false. When Japanese-Americans were (utterly immorally, and utterly hatefully) “detained” in internment camps during the Second World War there was no...
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They Broke the Law
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Friday Links
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Effective Altruism for Open Borders?
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The Stoic Case Against Reading the News
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The Case Against Education: Some Thoughts
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Against International Law’s Economic Agnosticism
Mises Institute USA
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On War, Gold, and My Years in Congress
JEFF DEIST: What makes you optimistic, what makes you pessimistic about what you see in the US? RON PAUL: Well, if I look at the big picture including a long span of time, I would say conditions aren’t that bad, even though I often talk about all the bad things I anticipate and how it ...
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The Future of Government is Smaller
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Manufacturing Jobs Are Overrated
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Not Even the Pentagon Thinks Tariffs Are Needed for National Defense
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Michael Boldin Makes the Case Against Jeff Sessions
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El Acta del Patrón Oro de 1900 y sus consecuencias
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La economía al servicio del estado: El empirismo de Richard T. Ely
Mises institute Canada
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Wine, Art, and Ferraris: The Bubble in Luxury Goods
Reprinted from Mises.org The Bernanke-Yellen bubble is impacting many sectors of the economy. Agriculture land, motor vehicles and auto loans, banking, bonds, contemporary art, corporate stocks, higher education and student loans, mergers and acquisitions, ocean shipping and cruise lines, social media, technology, housing, real estate, and land markets have been noticeably affected. Credit-fueled bubbles generally have a wide-ranging effect on...
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Trade Wars Are Not Good And Easy To Win
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How Identity Politics Is Changing Universities
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Middle-of-the-Road Policy Leads to Socialism
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How To Calculate the Money Supply
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Gold Should be Viewed as Money — Not as an Investment Instrument
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The Free-Market Economics of the Late Scholastics
David Stockman’s Contra Corner
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The Shameful Prosecution Of Julian Assange By Imperial Washington
I know Julian Assange well; I regard him as a close friend, a person of extraordinary resilience and courage. I have watched a tsunami of lies and smear engulf him, endlessly, vindictively, perfidiously; and I know why they smear him. In 2008, a plan to destroy both WikiLeaks and Assange was laid out in a top secret document dated 8 March, 2008. The authors were the Cyber Counter-intelligence Assessments Branch of the US Defence Department....
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Why The Singapore Statement Paves The Way For Ending US Occupation Of South Korea
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Aluminum Sanctions Elicit Russian T-Bond Dumping—-How The Empire Is Losing It’s Grip On Global Finance
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May Retail Sales—-The Warning Signs Beneath
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The Great Fallacy—-You Can’t Inflate Your Way Out Of Bubbles
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May Industrial Production—Not Much But Oil
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$21.1 Trillion And Counting—Where Uncle Sam’s Debt Is
Peter Schiff
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A Boogeyman Lurking in the Shadows Of The Economy: SchiffGold Friday Gold Wrap 06.15.18
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.[embedded content]There is a boogeyman lurking in the shadows of the economy – inflation. In this episode of the SchiffGold Friday Gold Wrap, host Mike Maharrey talks about how inflation is already impacting the economy and puts it in context of the latest move by...
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Fun on Friday: The Great Trophy Debate – Stanley Cup v. FIFA
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“Sizzling” Retail Sales Numbers Inflated by Eroding Dollar
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Peter Schiff: The Fed Is Pushing Us Toward a No-Growth, High-Inflation Economy
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The Federal Reserve: Public Enemy Number One
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Focus on Fundamentals: Revival in the Chinese Jewelry Market
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Your Incredibly Shrinking Dollar
Zerohedge
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Are China’s “Drone Swarms” The Military Weapon Of The Future?
China, the country where fireworks were invented back in in ninth century, recently decided to ban fireworks displays in more than 400 cities, a decision that has forced companies and municipalities to brainstorm alternative forms of entertainment that won't have such a deleterious impact on the environment. One perhaps unintended result of this decision has been an explosion in demonstrations involving "drone swarms" of LED-equipped...
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The Saudi-UAE Alliance Is The Most Dangerous Force In The Middle East Today
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These Are The World’s Biggest Disruptors (And How The Disrupteds Are Fighting Back)
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Mattis: Putin Is Trying To “Undermine America’s Moral Authority”
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Deutsche: “This Is The Most Dangerous Development The Fed Wants To Avoid”
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Visualizing The Longest Bull Markets Of The Modern Era
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The Bubble’s Revenge: China’s Stock Market Is Littered With ‘Pledged-Share Land-Mines’ Buried During 2015 Mania
Wolf Street
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The Huge Ships for the Booming LNG Trade
Designs, Technologies, and Challenges for liquefied natural gas carriers. By MC01, a frequent commenter on WOLF STREET: The export of Liquefied Natural Gas (LNG) has surged by 61% in ten years, from 160 million metric tons in 2007 to 258 million metric tons in 2016 (chart via IGU): LNG is a mixture of natural gases – chiefly methane with some mixture of ethane – that has been processed and converted into liquid form through cooling to -162°C...
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Next Mortgage Default Tsunami Isn’t Going to Drown Big Banks but “Shadow Banks”
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Consumers Stubbornly Cling to Cash, after Multiple IT Fiascos & Payment Systems Outages
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Who the Heck Bought $1.2 trillion in New US Treasuries over the past 12 Months?
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Canada Has a Subprime Real Estate Problem, You just Don’t Know It
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Seems Impossible, but Argentina’s Peso Was Able to Collapse even Further Despite $50 Billion IMF Bailout
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Blackstone Becomes Biggest Hotel & Property Owner in Spain
Thomas Woods
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Ep. 1180 Inflation: Its Cultural and Political Consequences
Download Audio
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Ep. 1179 Molyneux and I Smack Around the Deranged Universities
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Ep. 1178 Who’s Afraid of Robots?
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Ep. 1177 Insider Trading: A Crime?
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Ep. 1176 The Anti-Marxist Argument That Clinches It
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Ep. 1175 Social Media Thought Control: Is This the Answer?
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Ep. 1174 Science Deniers?
Carpe Diem
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The US Drug War started 47 years ago tomorrow. Some commentary from Milton Friedman on that failed and shameful war – Publications – AEI
AEI The US Drug War started 47 years ago tomorrow. Some commentary from Milton Friedman on that failed and shameful war Tomorrow (June 17) marks the 47th anniversary of America’s War on Drugs Otherwise Peaceful Americans Who Voluntarily Choose To Ingest or Sell Intoxicants Currently Proscribed by the Government, Which Will Put Users or Sellers in Cages if Caught. To bring awareness to this immoral, failed, costly, and shameful war on the...
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NYT gender bias: Small math test gap favoring boys is emphasized while much larger reading test gap favoring girls is downplayed – Publications – AEI
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The shocking and sickening story behind Richard Nixon’s ‘War on Drugs’ that targeted blacks and anti-war activists – Publications – AEI
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Many large US firms sell, hire and invest more overseas than in US and they have to think globally, not domestically, to survive – Publications – AEI
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Tuesday evening links – Publications – AEI
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31 years ago today Ronald Reagan challenged Soviet Union leader Mikhail Gorbachev to ‘tear down’ the Berlin Wall – Publications – AEI
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Camile Paglia’s anticipatory response to Suzanna Walters’ anti-male bigotry: ‘It’s a man’s world and it always will be’ – Publications – AEI
Bawerk
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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...
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Chinese Philosopher Kings, Losing their Yuan FX Religion?
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How to Invest in the New World Order
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Toward A New World Order, part III
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Toward a New World Order, part II
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Toward a New World Order?
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“Subtle forward guidance”: The marriage between best practice central banking and commodity markets
Keith Weiner
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The CEO Pay Ratio
A popular metric is to compare CEO pay to the pay of the lowest-skilled–and hence lowest-paid–worker in the company. If the CEO makes $15,000,000 and a burger-flipper makes $15,000 then the CEO is making 1,000 times more. This provides fuel for policy debate. As I often say, socialism is not about economics. There is no economics of socialism. It is nothing more than institutionalized envy. And the pay ratio of 1,000 appeals only to envy. It...
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You Didn’t See That
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The Party of Spend More vs. the Party of Tax Less
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The Big Myth
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What Will a 20% Tariff Do?
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Yield Purchasing Power
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Reflections over 2016
Coordination Problem
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Buchanan Camp — Park City, Utah
I have been spending the past few days at Buchanan Camp organized by Michael Munger and Johnny Anomaly, and I am thrilled to do so. There are 12 other participants from the fields of philosophy, politics, and economics, and the conversation has been fascinatingly productive as far as I am concerned. Keep in mind, I teach a course on Constitutional Political Economy to PhD students every Spring so the readings aren't new to me, but in a...
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EconTalk with Glen Weyl
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From Hayek to Lavoie and the Quest for a Political Philosophy for the Market Process
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EconTalk Podcast on “Economics and Public Administration” and More
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Hayek’s Intellectual Portrait
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Leland Yeager and Austrian Macroeconomics
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Bruce Caldwell talk at Ohio University on F. A. Hayek: Life and Legacy (March 2017)
Mercatus Center
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Charles Blahous on C-SPAN’s Washington Journal
Charles Blahous appeared on C-SPAN's Washington Journal to discuss the challenges facing Social Security and Medicare funding.
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Weekend Reads: June 15th, 2018
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Veronique de Rugy on American Radio Journal
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J. W. Verret on the Jim Bohannon Radio Show
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Social Security Trust Fund Is Running Out
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The Internet of Things and Consumer Product Hazards
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Year-End Federal Spending and Government Waste
