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Category Archive: 6b) Austrian Economics

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Why the “Just Wage” Theory Doesn’t Make Much Sense

2023-09-27

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2023-09-27

Just-wage theory tells us that an employer cannot reduce his workers' wages below some presumed "cost of living." Yet, that same employer can be permitted to reduce the worker's wage to zero if the worker has been replaced by a machine.  Original Article: Why the "Just Wage" Theory Doesn't Make Much Sense

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The Dangerous Myth of a “Soft Landing”

2023-09-27

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2023-09-27

If we search the news from 2007, we can find plenty of headlines with the IMF and the Federal Reserve predicting a soft landing. No one seemed to worry about rising imbalances. The main reason is that market participants and economists like to believe that the central bank will manage the economy as if it were a car. The current optimism about the U.S. economy reminds us of the same sentiment in 2007. Many readers will argue that this time is...

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ESCÁNDALO…ACEITE DE OLIVA POR LAS NUBES ¡EN ESPAÑA!

2023-09-27

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#aceitedeolivavirgenextra #aceite #preciosbajos #precios #inflación Te animo a suscribirte a mi canal y te invito a seguirme en mis redes sociales: ☑ Twitter - https://twitter.com/dlacalle ☑ Instagram - https://www.instagram.com/lacalledanie ☑ Facebook - https://www.facebook.com/dlacalle ☑ Página web - https://www.dlacalle.com ☑ Mis libros en Amazon - https://www.amazon.es/Daniel-Lacalle/e/B00P2I78OG ¡Un saludo!

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Real Economic Growth Depends on Savings

2023-09-27

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2023-09-27

The US consumer sentiment index, compiled by the University of Michigan, fell to 69.5 in August from 71.6 in July. A weakening consumer sentiment index is seen as indicating a potential downturn in consumer spending and the economy in general. Most economic commentators agree that individual consumption rather than saving is the key to economic prosperity. Saving, they believe, hinders economic growth because it coincides with weakening demand for...

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Mises Club Carolinas

2023-09-27

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2023-09-27

Join the Mises Club Carolinas for their next Meetup on Saturday, October 7 in Spartanburg, SC. Timothy and Sarah Terrell will host the event at Initial Q Smokehouse from 4:00 - 8:00 p.m. The topic is "Education and Career Preparation from an Austrian Perspective."  To register or for more information, please contact Kent Misegades, [email protected].

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Rothbard Graduate Seminar 2024

2023-09-27

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2023-09-27

Rothbard Graduate Seminar is an intense study of Misesian and Rothbardian economic analysis with applications to current research and related fields. Participants discuss a common set of readings with each other and Mises Institute faculty, who give advanced lectures on the material. The goal is to equip graduate students with a solid understanding of the ideas of Mises and Rothbard, so that they may apply it to their graduate studies and...

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The Liberty Movement’s Pro-War Fifth Column

2023-09-27

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2023-09-27

Recorded in Nashville, Tennessee, on September 23, 2023. The Liberty Movement’s Pro-War Fifth Column | Ted Galen Carpenter Video of The Liberty Movement’s Pro-War Fifth Column | Ted Galen Carpenter

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Limitless Money and the Limitless Fed

2023-09-27

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2023-09-27

Recorded in Nashville, Tennessee, on September 23, 2023. Limitless Money and the Limitless Fed | Jonathan Newman Video of Limitless Money and the Limitless Fed | Jonathan Newman

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How a CBDC Created Chaos and Poverty in Nigeria

2023-09-27

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2023-09-27

The Nigerian government should have seen the economic disaster the eNaira would cause. They didn’t, and chaos and rioting followed. Original Article: How a CBDC Created Chaos and Poverty in Nigeria

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Bringing the Truth

2023-09-27

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2023-09-27

The best people in the world support the Mises Institute. Will you join them? Who are they? People just like you. People who happen to care deeply about human liberty and human flourishing. People who care about real economics. People who oppose state power, central banks, and war. People who care about truth and honest history. They come from all walks of life. Some give $20, some give more. But they are all people like you, people who understand...

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The Menendez Indictments: Understanding Business as Usual in Washington

2023-09-27

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2023-09-27

Last week, prosecutors for the Southern District of New York unsealed an indictment against New Jersey senator Robert Menendez. The senator, his wife, and several businessmen are accused of providing “sensitive U.S. Government information” and taking steps that “secretly aided the Government of Egypt” in exchange for cash, gold bars, a luxury convertible, and more. Senator Menendez has dismissed the charges and refuses to resign from Congress. In a...

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Mises Book Club

2023-09-26

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2023-09-26

In February 2024, the Mises Institute will hold its next Mises Book Club, our new program to promote deep reading in Austrian economics.  In celebration of the 80th anniversary of F. A. Hayek's Road to Serfdom, this classic work in political philosophy, intellectual and cultural history, and economics will be the focus of the next meeting.  For eight riveting weeks, ten to fifteen specially selected undergraduate students will partake in rich...

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Does Technical Knowledge Always Lead to Economic Growth?

2023-09-26

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2023-09-26

Economists and political elites fondly claim that economic growth is due to increased technological knowledge. That is only partly true. Original Article: Does Technical Knowledge Always Lead to Economic Growth?

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Investidura de Feijóo ¿Fracaso u Oportunidad?

2023-09-26

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Te animo a suscribirte a mi canal y te invito a seguirme en mis redes sociales: ☑ Twitter - https://twitter.com/dlacalle ☑ Instagram - https://www.instagram.com/lacalledanie ☑ Facebook - https://www.facebook.com/dlacalle ☑ Página web - https://www.dlacalle.com ☑ Mis libros en Amazon - https://www.amazon.es/Daniel-Lacalle/e/B00P2I78OG ¡Un saludo!

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Thanks to Our Fall Campaign Donors

2023-09-26

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2023-09-26

Thanks to all of our generous donors who are participating in our 2023 Fall Campaign. Your continued support is vital and much appreciated. Donors are added daily. Won't you join them? Monday, September 25 Abdelhamid Abdou Adam BattlesAdam DengAlan ZibelmanAndreas HübnerAnonymousAndrew WindsorArthur KnolleAnonymousBarb WhitemanBridget SantosCarl ChambersCarlos Aixerch MateuCharles CrawleyCharles DemastusChris Lingwall, In honor of Milton Friedman...

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Do Monarchs Always Have Low Time Preferences?

2023-09-26

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2023-09-26

Hans-Hermann Hoppe, in his book Democracy: The God That Failed and his 1995 article in the Journal of Libertarian Studies, set forth an interesting theory concerning the difference in time preference between a monarch and a democratic politician. The argument stresses the difference in the use of political power according to the degree to which the ruler is future oriented. Hoppe also says that using the power of the state is in itself an...

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Understanding Hegel from a Straussian Viewpoint

2023-09-26

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2023-09-26

While Leo Strauss did not share G.W.F. Hegel's acceptance of historicism, nonetheless he gives Hegel a sympathetic review. David Gordon takes a closer look at both men. Original Article: Understanding Hegel from a Straussian Viewpoint

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Oil Export Bans Make for Crude Politics

2023-09-26

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2023-09-26

The Organization of the Petroleum Exporting Countries (OPEC) embargo on sales of crude oil from their member countries to the United States was a response to US support for Israel in the October 1973 Yom Kippur War against invading Egyptian and Syrian military forces. This oil embargo raised barrel prices on the open market and, when combined with US price controls, reduced the amount of oil available in the US for refining into gasoline, leading...

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The Fed Holds the Fed Funds Rate Steady—Because it Doesn’t Know What Else To Do

2023-09-25

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2023-09-25

The Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday left the target policy interest rate (the federal funds rate) unchanged at 5.5 percent. This "pause" in the target rate suggests the FOMC believes it has raised the target rate high enough to rein in price inflation which has run well above the Fed's arbitrary two-percent inflation target since mid-2021.  The press release from the FOMC was largely unchanged from...

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The US Military Is Laying the Groundwork to Reinstitute the Draft

2023-09-25

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2023-09-25

The most recent edition of the US Army War College’s academic journal includes a highly disturbing essay on what lessons the US military should take away from the continuing war in Ukraine. By far the most concerning and most relevant section for the average American citizen is a subsection entitled “Casualties, Replacements, and Reconstitutions” which, to cut right to the chase, directly states, “Large-scale combat operations troop requirements...

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