Capital and Interest Theory

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The Piracy Paradox

Capital and Interest TheoryEntrepreneurshipProduction Theory

Blog09/20/2007

My post Knock It Off discusses Jacob Sullum's Reason article about knockoffs in the high-fashion industry, and the lobbying by designers for copyright-like protection of clothing designs. A recent article in The New Yorker,...

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More money makes us rich

The FedCapital and Interest TheoryMoney and Banking

Blog09/18/2007

It was this very day that I was telling some visiting students about the silliness of the old populist silver movement of the late 19th century, how they ridiculously believed that all economic troubles could be solved if only the government would print more money — not realizing that more...

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Adam Smith and Karl Marx's basic and monumental (in consequences) error

Capital and Interest TheoryMonetary TheoryValue and Exchange

Blog09/05/2007

What could these two thinkers, considered to be opposites, have in common? It turns out that Karl Marx inherits from Adam Smith a very basic error, one which has monumental consequences and has changed the world forever.

Adam Smith tells us in his famous treatise on the wealth of nations...

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Bove: The Fed is Bailing Out Countrywide

The FedCapital and Interest Theory

Blog09/04/2007

Punk, Ziegel analyst Richard X. Bove argues here that recent Fed policies and pronouncement amount to a bailout of Countrywide Financial. If so, then Bernanke's Fed is similar to Greenspan'...

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Entrepreneurship, Arbitrage, and Capital

Calculation and KnowledgeCapital and Interest TheoryEntrepreneurship

Blog08/18/2007

[Cross-posted at Organizations and Markets]

Over the years I'm increasingly convinced that Israel Kirzner's metaphor of entrepreneurship as costless discovery ...

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Credit crunch + Market Rout = Central bank intervention

Booms and BustsFinancial MarketsCapital and Interest TheoryInterventionism

Blog08/11/2007

The turmoil in financial markets is eliciting the usual response from the central bankers, all up there in their Hueys, 'Die Walkuere' blasting out of their beat boxes. But the fixation on the 'sub-prime' angle and on the Fed's role in isolation only tells part of the story....

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When Buying Sugar in Zimbabwe

Money and BanksCapital and Interest TheoryMoney and Banking

Blog08/01/2007

...it's easier to use the new $200,000 note issued by the RBZ. It is worth US$13 at the official exchange rate or $1 on the black market.

Addendum: Lest anyone...

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