• Blog
    How the Rich Get Rich

    The latest issue (Jan. 22) of The Economist carries a special report on the wealthy and the state of inequality around the world. As is almost always the case with the British magazine’s special reports, “The Few” is well worth reading. Here are some of the more instructive points: * While inequality within nations, as measured by...

  • Articles
    The Great Recession and The Failure of Keynes

    First of all, I want to thank the Institute of Liberal Studies for inviting me here today...

  • Blog
    The Right to Self-Defense

    The story of government over the last century is largely the story of how it has abused its monopoly over legal coercion and extended it to regulate areas of our lives outside its legitimate purview. Much of this incursion has occurred in the economic realm. But impending federal legislation to solidify the right...

  • Articles
    Depression Before the Great Depression

    Before the Great Depression of the 1930’s and 1940’s, there were a number of depressions and recessions...

  • Articles
    Economic Depressions: Their Cause and Cure

    We live in a world of euphemism. Undertakers have become “morticians,” press agents are now “public relations...

  • Blog
    Harper’s Five Disappointing Years

    Today is the fifth anniversary of Stephen Harper’s electoral victory that ended 13 years of Liberal party rule. It’s worth recalling that this is a man who, before coming to power,  once described Canada as a, “Northern European welfare state in the worst sense of the term”.  Such a statement offered a...

  • Blog
    What the BoC has done to the Canadian dollar

    Reading the Austrian literature, one often comes across the claim that the US dollar has lost 95% of its value since the Fed’s inception in 1913. A Canadian reading that might well ask how much our dollar has been cheapened since the Bank of Canada (BoC) was founded in 1935. A good question...

  • Articles
    Economic Calculation in the Socialist Commonwealth – Chapter 4

    4. Responsibility and Initiative in Communal Concerns The problem of responsibility and initiative in socialist enterprises is...

  • Blog
    From the Great Depression to the Great Recession

    That is the title of the upcoming seminar being hosted by the Institute of Liberal Studies.  If you are in the Toronto area this Friday, you are more than welcome to attend. Running from 10 am to 330 pm, the seminar will be take place in  Hart House (Music Room) at the University of Toronto....

  • Articles
    Canadian Broadcasting in Dire Straits

    You may or you may not agree with the recent Canadian Broadcast Standards Council (CBSC) “ban” on...

  • Blog
    The Failure of the Fed

    Coming across this paper by George Selgin, William D. Lastrapes, and Lawrence H. White, one can’t help wondering how the Bank of Canada (B0C) would fare under similar scrutiny. One suspects the BoC’s record, both in terms of keeping inflation under control and minimizing the economy’s volatility, would come to sight as...

  • Blog
    Study Economics, History, and Libertarian Theory

    So 2011 is well under way, and January is in full force. Snow storms, frigid temperatures, and endless rainfall will plague Canadians for at least the next couple of months. But while you’re hiding from the elements near the warm glow of your computer screens, why not study Austrian theory at the...

  • Articles
    The Use of Knowledge in Society

    What is the problem we wish to solve when we try to construct a rational economic order?...

  • Blog
    A Zero Inflation Target for the BoC?

    The Bank of Canada (BoC) is scheduled to release its latest statement on interest rates today. It’s widely expected that the Mark Carney led central bank will keep its benchmark overnight lending rate at 1%. That would be a poor decision. As we’ve argued in previous blogs (back on Dec. 13 & Jan. 7), the...

  • Blog
    Desperately Resorting to Credit Rationing

    Clearly, the federal government does not want the Bank of Canada (BoC) to raise interest rates. Yet it also realizes that Mark Carney, the governor of the BoC, is correct in worrying about the growing debt that’s been taken on by Canadian households. So it’s trying to finesse these two considerations –...

  • Articles
    The Myth that Laissez Faire Is Responsible for Our Present Crisis

    The news media are in the process of creating a great new historical myth. This is the...