• Blog
    Commodity Prices Signaling Inflation

    One of the knocks against the Austrian critique of recent monetary policy is that inflation has not erupted as predicted. Paul Krugman just made this point in another fine example of the derisive rhetorical style that he has honed since becoming a regular columnist at The New York Times. But price movements across a number of...

  • Blog
    Telling Health Care Stats

    Following up on Predrag Rajsic’s article today, “Time as a Price”, here are a number of illuminating...

  • Articles
    Time as a Price

    Canadian emergency rooms are infamous for their long wait times.The long wait times, in fact, prevail in...

  • Blog
    Portugal Succeeds in Decriminalizing Drugs

    Ten years ago, Portugal was faced with a drug addiction epidemic. Instead of beefing up anti-drug laws , and giving the police more resources to enforce the existing prohibitionist regime, it decriminalized the possession and use of drugs for personal purposes. Only trafficking remained illegal. At the time, opponents of the move...

  • Blog
    It’s snowing because it’s warming?

    Faced with an article like this, one can’t help wondering whether, to use Karl Popper’s language, one is ultimately dealing with an unfalsifiable thesis: Judah Cohen, “Bundle Up, It’s Global Warming”, New York Times, Dec. 26/2010

  • Blog
    In Hoc Anno Domini

    On Christmas Eve, newspapers typically devote an editorial to the significance of the holiday ahead. No editorial does this more profoundly than “In Hoc Anno Domini“, which has appeared in The Wall Street Journal every year since 1949. Written by Vermont Royster, who ran the paper’s editorial page from 1958 to 1971,...

  • Articles
    Economic Calculation in the Socialist Commonwealth – ch. 2

    2.The Nature of Economic Calculation Every man who, in the course of economic life, takes a choice...

  • Blog
    Christmas, Charity and the Welfare State

    People often ponder the meaning of Christmas. It’s not clear what the great mystery exactly is. Christmas commemorates the birth of Jesus. True enough, more traditionalist Christians differ with so-called “progressives” about the divinity of Jesus. Whether or not, therefore, what we are memorializing is the day that God became human and...

  • Blog
    The IMF has its say on Canada

    The International Monetary Fund (IMF) is out with its annual report on Canada’s economy. No one with...

  • Articles
    Time to get Canada’s Fiscal House in Order

    Bank of Canada Governor Mark Carney, Finance Minister Jim Flaherty and Prime Minister Stephen Harper recently made...

  • Articles
    Spotlight on Keynesian Economics

    Fifty years ago, an exuberant American people knew little and cared less about economics. They understood, however,...

  • Blog
    The Costs of Prohibiting Drugs

    One wonders how much the different levels of government in Canada spend on enforcing our drug laws. How much revenue, too, are they sacrificing by not taxing drugs like tobacco or alcohol? Focusing on the US, the study cited below indicates that American federal and state governments combined would save about $41.3...

  • Blog
    Five Reasons Not To Expand the CPP

    While a number of European countries are endeavoring to rein in their state sponsored pension regimes, a move is afoot here to augment the Canada Pension Plan (CPP). Fortunately, Finance Minister Jim Flaherty has, at least for now, reversed his support for the idea. It’s good news, too, that he has gotten...

  • Articles
    The Fiat Money End Game – to Infinity and Beyond

    Jim Sinclair has a slogan “QE to infinity.” That’s “Quantitative Easing to infinity.” That’s inflation to infinity....

  • Blog
    Recent Social Science for Austrians: Inequality in History

    The Austrian tradition has a number of reservations about the social sciences. Its biggest concern involves the underlying assumption of a fundamental unity between the natural and human realms. We cannot understand people’s actions the way we can those of natural phenomena. People are not playthings of the causal forces surrounding them....

  • Blog
    Rothbard vs. Strauss

    What grounds, ultimately, does a classical liberal/libertarian have to believe in their political philosophy of minimal government and individualism? If we are to be truly rigorous in our thinking, that is a question we must confront. The great libertarian thinkers of the 20th century — Friedrich Hayek, Ludwig von Mises, and Murray...