Capital and Interest Theory

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Can Wealth Make Us Happy? Sort of

Media and CultureCapital and Interest TheoryPhilosophy and Methodology

Blog01/29/2007

Let's say that we could generate a graph with happiness in rows and wealth in columns. The curve slops perfectly upward. The more wealth you have, the happier you are; the less wealth, the less happy. The same goes for countries: poor countries are packed with people who are down in the...

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The State Against Economic Law: the Case of Minimum Wage Legislation

Capital and Interest TheoryInterventionismMoney and BankingProduction Theory

Blog01/22/2007

When it comes to matters such as the theory of evolution and stem-cell research, so-called liberals—i.e., socialists who have stolen the name that once meant an advocate of individual freedom—ridicule religious conservatives for their desire to replace science with the dictates of an...

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Professor Norman Barry on "Stakeholding" and the Firm

Capital and Interest TheoryPhilosophy and Methodology

Blog01/08/2007

My article "Shareholder, not Stakeholder," which argued against the collectivist notion of "the stakeholder," brought forth much disagreement, especially from the bohemian business types. Regarding this same...

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The Great Can Opener Gap

Capital and Interest TheoryPhilosophy and MethodologyValue and Exchange

Blog12/29/2006

I'm sick of our economic whiners and their tear-stained statistics. "Ten Million American children go to bed hungry every night." Baloney, thick sliced and ready for your intellectual palate! Who believes such falsification? Were it true, fifty million Americans, given the...

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Iraq's Monetary Policy

Money and BanksCapital and Interest Theory

Blog12/06/2006

I didn't know until the release of the "Iraq Study Group Report" that Iraq's "inflation is above 50 percent. Unemployment estimates range widely from 20 to 60 percent." So...

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Julian Simon's Wager With Paul Ehrlich

Calculation and KnowledgeCapital and Interest Theory

Blog11/27/2006

I'm sure most readers of this blog are familiar with Julian Simon's wager with Paul "The Population Bomb" Ehrlich. For those who don't know, Simon let Ehrich pick any five metals in 1980, and he bet...

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Who's Afraid of the CPI!

Money and BanksCapital and Interest TheoryMonetary TheoryMoney and Banking

Blog07/01/2006

Everybody worries about inflation these days. It's chic. It's trendy. And it gives me a great comeback to the boss at raise time. "Congrats, Roberts, you're getting a 3% increase."

"Yeah, I just about keep up with inflation," I reply with that snippy look...

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So Now It's Core Core Inflation?

Capital and Interest Theory

Blog06/14/2006

For the third month in the row, "core" consumer prices, which the Fed and accordingly also financial markets have decided to focus on ( for irrational reasons )...

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Stockpiling Gas

Capital and Interest Theory

Blog05/09/2006

AOL News (AP) reports on a market solution to rising gas prices: buy gas now and store it for later. That's right; create your own strategic oil reserve!

One lucky prospector is tapping the...

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Markets are both competitive and cooperative, but never coercive

Capital and Interest TheoryEntrepreneurshipPhilosophy and Methodology

Blog01/27/2006

When people consider the question of how society should be organized, there is a tendency to portray issues in terms of false alternatives. Such is the case with competition or individualism (i.e., market organization) versus cooperation or community (i.e., organization through government). It...

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