Category Archive: 6b.) Mises.org

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An Inflation Outlook for the US Dollar in 2022

2021-12-31

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2021-12-31

First, we must define inflation: it is the increase in the quantity of money, currency, and credit. It is not an increase in prices. Changes in the general price level is the consequence of a combination in changes of the quantity of deposit currency and changes in the level of the public’s retention of deposit currency relative to their possession of goods. We can record deposits statistically, but cannot quantify human behaviour.

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The Businessman and the Holy Family

2021-12-30

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2021-12-30

At the heart of the Christmas story rests some important lessons concerning free enterprise, government, and the role of wealth in society. Let’s begin with one of the most famous phrases: “There’s no room at the inn.” This phrase is often invoked as if it were a cruel and heartless dismissal of the tired travelers Joseph and Mary.

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Mandatory Holidays Mean Less Freedom and Flexibility for Workers

2021-12-29

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2021-12-29

One of the things people tend to appreciate throughout the year, and especially during the Christmas season, is statutory holidays. These days off are taken for granted by many, and few people stop to think about whether they have any drawbacks. But as any good economist will tell you, everything comes with tradeoffs, and holidays are no exception. The trick, then, is to figure out where the cost lies, and who, ultimately, is paying it.

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The Real Reason Politicians Want Legal Cannabis Is Tax Money

2021-12-28

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2021-12-28

The latest two states to legalize recreational cannabis are New York and New Jersey. However, if one believes governors and legislators in those states have finally adopted a more libertarian view of the topic, one will be severely disappointed.

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Life Expectancy in 2020 Fell 2.3 Percent to 77 Years. Does This Justify the Covid Panic?

2021-12-26

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2021-12-26

According to a new report released Wednesday by the Centers for Disease Control, the life expectancy at birth in the United States fell to 77.0 iyears n 2020, falling from 2019’s life expectancy of 78.8 years. The report also noted an increase of mortality with age-adjusted mortality in the US rising from 715.2 per 100,000 in 2019 to 836.4 per 100,000 in 2020. 

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The Fed’s Dovish “Tapering” and the ECB

2021-12-25

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2021-12-25

This week, the Federal Reserve gave the most dovish “hawkish” statement ever, an apparent aggressive tapering that, in reality, means maintaining very low rates and massive repurchases for longer.Inflation has skyrocketed and aggressive monetary policy is the key factor in understanding it. I already explained it in my article “The Myth of Cost-Push Inflation.” 

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The Truth about Tulipmania

2021-12-24

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2021-12-24

When the economics profession turns its attention to financial panics and crashes, the first episode mentioned is tulipmania. In fact, tulipmania has become a metaphor in the economics field. Should one look up tulipmania in The New Palgrave: A Dictionary of Economics, a discussion of the seventeenth century Dutch speculative mania will not be found.

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Respective of butterfly knife

2021-12-24

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csr 2 game play

2021-12-23

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Csr2 playing around on new account racing

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Why “Macro” Thinking in Economics Is Such a Problem

2021-12-22

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2021-12-22

As someone who teaches public finance (better termed the economics of government), I can’t count how many times I have heard politicians promise “comprehensive” reforms to some major problem. But what such efforts actually produce is always different from what is promised, because such achievements are beyond government’s competence.

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Can Dikes Be Private?: An Argument against Public Goods Theory

2021-12-21

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2021-12-21

According to many economists, we need the state to provide public goods.2 The assertion seems to be so crystal-clear that it is not even worth discussion in the mainstream. One typical and popular example of public goods in Germany is the case of dikes or levees.

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Who Will Inflate Faster? Europe or the Fed?

2021-12-20

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2021-12-20

The price of the euro in terms of the US dollar closed at 1.135 in November, against 1.156 in October and 1.193 in November last year. The yearly growth rate of the price of the euro in US dollar terms fell to –4.8 percent in November from –0.7 percent in October. Some commentators are of the view that the US dollar is likely to weaken against the euro (i.e., the price of the euro in US dollar terms is likely to increase).

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Fauci on Your Phone?

2021-12-18

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2021-12-18

If the Senate follows the House of Representatives's lead and passes the Immunization Infrastructure Modernization Act (HR 550), Americans who do not get the recommended number of covid vaccines can look forward to receiving a text like this: “This is Dr. Anthony Fauci. According to government records you have not yet received your monthly covid booster shot. Until you prove you are following vaccine protocols, your vaccine passport will be...

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Conservatives and the Free Trade Straw Man

2021-12-18

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2021-12-18

When Ronald Reagan officially announced his candidacy for president of the United States in November 1979, he called for the establishment of a large free trade zone encompassing the USA, Canada, and Mexico.

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Raiding the World Bank: Exposing a Fondness for Dictators

2021-12-17

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2021-12-17

I have always had a bad attitude toward official secrets regardless of who is keeping them. That prejudice and John Kenneth Galbraith are to blame for an unauthorized withdrawal I made from the World Bank. When I lived in Boston in the late 1970s, I paid $25 to attend a series of lectures by Galbraith on foreign aid and other topics.

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Walkthrough of New Music Hall

2021-12-15

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Walkthrough of the new Music Hall at St. Paul's School in Covington, Louisiana

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Using the Welfare State to Get Compliance on Vaccine Mandates

2021-12-15

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2021-12-15

A Democratic state lawmaker in Illinois has introduced legislation requiring unvaccinated residents to pay out-of-pocket for healthcare services. It's all part of an effort to come up with new and creative ways to punish people who refuse to get the covid jab.

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How Market Freedom Combats Economic Inequality

2021-12-12

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2021-12-12

For many, income inequality is a disease ravaging the fabric of capitalist societies. Therefore, curing this ailment, according to progressives, necessitates an injection of welfare benefits and higher taxes on the wealthy. Guided by a zero-sum outlook, critics believe that the success of the affluent is gained at the expense of the poor.

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Money Supply Growth Is Slowing—That Points to a Slowing Economy

2021-12-10

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2021-12-10

According to the popular narrative, the role of the central bank is to navigate the economy along the so-called path of economic stability. By this way of thinking if various shocks cause the economy to deviate from this path, then it is the role of central bank policy makers to offset these shocks.

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Natural and Neutral Rates of Interest in Theory and Policy Formulation

2021-12-09

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2021-12-09

Interest has a title role in many pre-Keynesian writings as it does in Keynes's own General Theory of Employment, Interest, and Money (1936). Eugen Böhm-Bawerk's Capital and Interest (1889), Knut Wicksell's Interest and Prices (1898), and Gustav Cassel's The Nature and Necessity of Interest (1903) readily come to mind.

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