Friday , December 6 2019
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Mises Institute USA

We Don’t Need Sunday “Blue Laws”

It has now become commonplace for politicians and media pundits to casually assert that "everyone" — to use Alexandria Ocasio-Cortez's term — is now working more and more hours — and perhaps two or three jobs — just to attain the most basic, near-subsistence standard of living. This is repeated time and time again, usually without context or supporting evidence. Never mind, for example, that the Bureau of Labor Statistics reports only around 5 percent of workers hold more than one job....

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The Benefits of Free Trade Are Canceled Out by Domestic Interventionism

Foreign policy commentators live in their own bubble. The WTO’s credibility is gone and its survival uncertain due to its lack of impact on world trade over the last two decades. A China vs. USA trade war is still growing and the economic community of European states is in its worst-ever shape. Yet no one stops to wonder if all these failures have anything to do with the kind of economic integration they propose. In fact, the media is now childishly excited about the ASEAN-led Regional...

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Serving the Consumer: The Secret to Walt Disney’s Success

December 5 is Walt Disney’s birthday, and more than fifty years after his death, Disney’s reputation is well-deserved. After all, he was the creator of Mickey Mouse and a score of lovable animated characters; was a pioneer in adding sound and color to movies; created the game-changing full-length animated feature; invented the concept of children’s programming for television with The Mickey Mouse Club; and built the world’s first theme park with the creation of Disneyland. But he never lost...

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Jeffrey Rogers Hummel on the Economics of Slavery

Jeffrey Rogers Hummel joins Bob Murphy for an in-depth discussion of the economics of slavery, touching on subtleties such as the labor/leisure trade-off, and the recent claims by some historians that slavery was efficient. Bob also asks Hummel to explain the provocative claim in his book, that the Confederacy would have done much better militarily if it had used the same guerrilla warfare tactics that the American colonists had used against the British. For more information, see...

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The ABC of a Market Economy

There are basically only two ways in which economic life can be organized. The first is by the voluntary choice of families and individuals and by voluntary cooperation. This arrangement has come to be known as the free market. The other is by the orders of a dictator. This is a command economy. In its more extreme form, when an organized state expropriates the means of production, it is called socialism or communism. Economic life must be primarily organized by one system or the other. It...

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China’s Mercantilism Is a Recipe for Stagnation

Over the past two decades, fears about China’s rapid economic and technological advancement have grown exponentially and culminated in the recent trade war unleashed by President Trump. But only supporters of government intervention could think of China’s market socialism as a redoubtable challenger to a market-oriented economy. But that’s not how it works. Murray Rothbard, for example, has clearly shown that government interventions result in more interventions to deal with the unintended...

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What Venezuela Needs for a Prosperous Future

Prosperity & Liberty: What Venezuela Needs. Edited by Rafael Acevedo. Econintech, 2019. Rafael Acevedo is a distinguished Venezuelan economist, now in part-time residence at Texas Tech University, who is deeply concerned about the future of his native country. Socialism has brought Venezuela to rack and ruin, and if the country is to recover, a move to the free market is essential. Many have said the same thing, but Acevedo has done much more than bemoan his country’s fate and point to the...

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How to Avoid Civil War: Decentralization, Nullification, Secession

It's becoming more and more apparent that the United States will not be going back to "business as usual" after Donald Trump leaves office, and it is easy to imagine that the anti-Trump parties will use their return to power as an opportunity to settle scores against the hated rubes and "deplorables" who dared attempt to oppose their betters in Washington, DC, California, and New York. This ongoing conflict may manifest itself in the culture war through further attacks on people who take...

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The Washington Post’s Double Standard on Immigration and Guns

Last week, the Washington Post's editorial board came out against sanctuary cities. No, not the kind of sanctuary cities that refuse to enforce federal immigration law. The Post's editors have no problem with that. Instead, the Post came out against the efforts by some local governments to oppose state- and federal-level enforcement of restrictions on gun ownership. The Post didn't go easy on these efforts either. The editorial likened the gun-owner sanctuary efforts to "vigilantism" and...

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