• 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...

  • Blog
    Wikipedia’s Market of Ideas

    Ten years ago today, one of the greatest information resources on the Internet — perhaps the greatest – was born. Without commissioning a single expert, the English version of Wikipedia has grown to encompass 3.5 million articles. That number goes up to 17 million if you include all the other language editions of the online...

  • Blog
    Another Reason to Limit Government

    Power impairs our capacity to view others as fellow humans — that’s according to a newly published study by Joris Lammers & Diederik Stapel, “Power Increases Dehumanization” in the January 2011 issue of Group Processes & Intergroup Relations (HT once again to Kevin Lewis at National Affairs) It follows that the more power we...

  • Articles
    The Underground Economy in One Page

    What is the underground economy? It is not something subterranean. It is neither a physical structure nor...

  • Blog
    Three Reasons to Stick to the Corporate Tax Cuts

    Will 2011 bring a federal election to Canada? Hard to say, but we may now have a wedge issue that instigates a return to the polls. Michael Ignatieff’s Liberals are spearheading a campaign to rescind planned cuts to Canada’s corporate tax rate. Having already come down from 28% during the Chretien-Martin years...

  • Blog
    Harper to Target Political Party Subsidies

    Very promising news — the Prime Minister has today announced his intention to campaign for the elimination of subsidies to political parties whenever the next election is held. Why this is a good idea is explained in a previous blog. Currently, each of the parties receives approximately $2 per year for each...