• The Chimera of State Regulation of Health and Safety Standards

    Federal regulation of health and safety is based upon several illogical premises. Unfortunately these premises are never discussed. Instead we are bombarded with scare stories that business intends to make its profits with no consideration to the health of the public or the safety of its workers.   Illogical premise number one:...

  • Germans favor a self-destructive policy

    From today’s Open Europe news summary: Majority of Germans want Merkel to take tough stance in Brexit negotiations A poll for the Körber Foundation reveals that 58% of Germans think Chancellor Angela Merkel should ‘negotiate tough’ with the UK while 40% say she should be ‘ready to compromise’. Within Merkel’s CDU party...

  • Trump to pick ex-bank CEO who wants to abolish the Federal Reserve?

    From Business Insider: As President-elect’s Donald Trump’s transition rolls on, more and more attention is being paid...

  • The Hidden Costs of Immigration

    Excerpted from the Claremont Review of Books This is the sort of common-sense conclusion that you need...

  • How to Argue

    On the weekend, I read a very good article which asked the question, “Just how charitable are...

  • Steve Bannon on bank bailouts

    Interesting thoughts from advisor to President-elect Donald Trump. Excerpted from BuzzFeed News. Bannon: That’s a great question....

  • About last week

    The fallout from the election last week in the United States continues to amaze, particularly the fearmongering...

  • ICPM Opening Reception!

    Join us at the Fox and the Fiddle on 280 Bloor Street West on Friday, November 4...

  • Raising taxes is “tax harmonization”; lowering taxes is “Brutal Brexit”

    From today’s Open Europe news summary: European Commission plans corporate tax rule harmonisation The European Commission will announce plans today to harmonise corporation tax policy across the EU. The plans would not mandate a single tax rate across Europe, but would instead seek to “eliminate the mismatches and loopholes between national tax systems, which...

  • Leithner Letter Nos. 205-208

    The FOMC has consistently overestimated future Fed Funds Rate (FFR) hikes. For a body that prides itself on super-scientific research methods and has teams of economists (self-described) and statisticians, it’s interesting that they can’t even predict their own behaviour. The graph is comical. These errors can be either unintentional or intentional. If...

  • Should the Fed Raise Interest Rates?

    For some time now the Fed has been hinting that it will moderate its interventions–monetizing government debt by printing money to buy government bonds and now quantitative easing by printing money to buy corporate bonds–in order to drive down the interest rate to unprecedented low levels. The Keynesian theory behind these interventions...

  • Italy wants other European nations to pay its unemployment bills

    From today’s Open Europe news summary: Italy to propose Eurozone joint unemployment insurance scheme La Repubblica reports that Italian Finance Minister Pier Carlo Padoan will later this month submit to his Eurozone counterparts a draft plan for a joint unemployment insurance scheme. Eurozone countries would contribute gradually to the tune of 0.5%...

  • There is no such thing as a negative interest rate

    We Austrian economists are used to having terms corrupted, misused and redefined by statists and others who love and advocate strong central control of money and power. The term “inflation” is a prime example. We Austrians refer to “inflation” as creating new fiat money–as in inflation of the money supply. This is...

  • Can You Trust US Economic Data?

    Reprinted from SprottMoney.com This morning, Canada released GDP data which showed the economy shrank by 1.6% on...

  • Blowing Hot Air on the Wrong Target

    Professor Pierre Desrochers, who will be lecturing this week during Rothbard University, sets the record straight on the Fossil Fuel Divestment Movement: The fossil fuel divestment campaign has become this generation of idealistic students’ defining cause who have pressured academic trustees and administrators to  sell or part way with stocks and other...

  • A wonderful new book about Austrian economics for the layman

    Blind Robbery! How the Fed, Banks, and Government Steal Our Money by Andreas Marquart and Philipp Bagus Reviewed by Patrick Barron   The purpose of this book is nothing less than to foment a revolt against the economic and monetary status quo, which, if continued, will destroy civilization as we know it....

  • The Real Lesson of Brexit

    The Real Lesson of Brexit by Patrick Barron   Following the surprise vote by the UK to leave the European Union, most commentators are trying to understand the rationale behind the British vote. Let me be a contrarian and ask, why does it matter? Undoubtedly there is no single reason that millions...

  • Wrong solution to a misunderstood problem

    From today’s Open Europe news summary: Business Secretary says growth must take priority over deficit as Carney warns Brexit risks beginning to ‘crystallise’ Bank of England Governor Mark Carney yesterday warned that the financial risks of Brexit “have begun to crystallise” and relaxed rules on banking capital, with the aim of releasing as much...

  • The consequences of leaving the party

    Reprinted from Goldmoney.com The collective decision of the British electorate is to reject the recommendation of its...

  • My letter to the Philadelphia Inquirer in defense of Brexit

    Dear Sirs: Trudy Rubin claims that “Brexit would be a huge step backward”, but she never explains why. Oh, she does correlate the growth of the EU regulatory state with the collapse of the Soviet Union, but this is not cause-and-effect. The Soviet Union collapsed because NATO stood guard over the Western democracies until...