• Articles
    The Ethics of U.S. Monetary Policy in Response to the Financial Crisis of 2007-2009

    In the ninety-eight years since its founding, the U.S. Federal Reserve (Fed) has never been so daring,...

  • Blog
    Why Subsidizing Political Parties is Wrong

    Back in November 2008, Prime Minister Stephen Harper inadvertently set off a constitutional crisis by proposing to abolish Canada’s system of subsidizing political parties.  After a sequence of events that saw Parliament prorogued, Harper dropped the plan to eliminate the subsidies. It’s too bad that he did. Though not for the reason that the National...

  • Blog
    Where should the BoC be setting interest rates?

    Canada’s bankruptcy chief has joined the rising chorus of those warning  about the excess debt load of Canadian households. James Callon, who heads the Office of the Superintendent of Bankruptcy Canada, concedes that bankruptcies are down somewhat over the last year. Yet he cautioned that,  “the number of consumer insolvencies filed in Canada was still...

  • Articles
    Economic Calculation in the Socialist Commonwealth: Chapter 3

    3. Economic Calculation in the Socialist Commonwealth Are we really dealing with the necessary consequences of common...

  • Blog
    A Further Note on Canadian CEO Pay

    The story that Canada’s 100 highest paid CEO’s earn 155 times as much as the average worker has got legs. On Tuesday, the Toronto Star carried an editorial invoking CEO pay to support a hike in capital gains taxes for stock options.  The same day, Kelly McParland in the National Post sought...

  • Articles
    The Stateless Society

    An Examination of Alternatives If the Twentieth Century proved anything, it is that the single greatest danger...

  • Blog
    Social Science for Austrians, Vol. 2

    In this my second installment of recently published social science research of potential interest to Austrians, let me alert you to three papers (HT: Kevin Lewis at National Affairs). The first, “Dynamic Scoring, Tax Evasion, and the Shadow Economy” suggests that taxes significantly affect the level of tax evasion.  So powerful is...

  • Articles
    Chaos Theory

    It is fitting that chaos theory got its start in the humble but frustrating field of meteorology....

  • Blog
    Quantititative Easing Explained in a Cartoon

    At the Forbes magazine website, there’s a great article by the always insightful Amity Schlaes alerting us to a cartoon that explains quantitative easing in everyday language. This cartoon (see below) has been viewed almost 4 million times. Its success raises the question why so many people appeal to an animation video...

  • Articles
    Canada’s Penny: The Last Defender from Inflation

    Canada’s venerable 102 year old penny is apparently more hassle than it is worth. Literally. At a...

  • Blog
    Canadian CEO Pay

    By 2:30 pm today, an elite Canadian CEO had earned what it takes a typical individual a year to make.  That’s according to the Canadian Centre for Policy Alternatives in their just released report, Recession Proof: Canada’s 100 Best Paid CEO’s. For 2009, the left-of-centre think tank calculates that the average compensation of the top 100...

  • Articles
    Defending the Litterer

    The litterer today will find few defenders. He is beset on all sides, bearing the brunt of...

  • Blog
    Toronto’s Bag Tax

    Toronto’s new mayor, Rob Ford, is thinking about doing away with a 5 cent fee on plastic shopping bags. This was introduced in 2009 by the city’s former mayor, David Miller, as an environmental measure to discourage the use of plastic bags. The bag fee is not a typical tax. The revenues generated do...

  • Blog
    Tocquevillean Resolution

    Besides retrospectives and predictions, another common practice during this season is the making of New Year’s resolutions. Those of us with a classical liberal view of things ought naturally commit to persisting in the struggle to reduce the influence of government in our lives and society. In undertaking this task, we will be more...

  • Articles
    The Regina Manifesto

    The Regina Manifesto was the programme of the Co-operative Commonwealth Federation and was adopted at the first...

  • Blog
    About Forecasting

    The Dow Jones Industrial Average is going to 16,000. China will undergo a democratic revolution. The Euro will finally collapse. Stephen Harper’s Conservatives will finally win a majority government. Yes, it’s that time of year when predictions abound. In today’s National Post, Dan Gardner does a superb job of belittling the whole...