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Is America Really Coming Apart, As Charles Murray Suggests?

Decentralization and Secession

Blog20 hours ago
A recognition that politics won't solve America's cultural divide means even some conservatives are embracing more radical decentralization.

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Time to Cash Out of the Banking System?

Blog06/27/2017
Uh-oh. Chairman Yellen assured us today that she does not believe that there will be another financial crisis "in our lifetimes."

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Jim Grant Explains the Gold Standard

Money and BanksU.S. HistoryMoney and Banking

Blog06/27/2017
Jim Grant: Our current monetary system "is the financial counterpart to the philosophy of statism."

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Republican Healthcare Plan Fails the "Jimmy Kimmel Test"

Health

Blog06/26/2017
Government health care creates shortages while driving up prices and preventing access to critical services.

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Hayek's Chicago Seminar on Justice and Equality

Political Theory

Blog06/26/2017
In 1950-51 Hayek presented a seminar at the University of Chicago entitled "Justice and Equality." The seminar was opened to faculty and students.

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Will the Work Day Shrink to Four Hours?

Labor and WagesValue and Exchange

Blog06/26/2017
How many hours a job requires depends on the nature of the work. In other words, work is highly heterogeneous.

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The Danger of "Public" Education

Big GovernmentEducation

Blog06/26/2017
The key issue in the entire discussion is simply this: shall the parent or the State be the overseer of the child?

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If We Want "Unity," Government Must Become Weaker

Decentralization and SecessionMonopoly and CompetitionPolitical Theory

Blog06/23/2017
The problem of majorities oppressing minorities becomes worse the larger the government becomes. The answer is to make the state weaker.

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Week in Review: June 24, 2017

Labor and WagesLegal SystemMedia and CultureMoney and BanksTaxes and SpendingBusiness Cycles

Blog06/23/2017
While the Federal Reserve is desperate to depict an optimistic vision for the global economy, their fellow central bankers aren't buying it.

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Yes, the Fed Really Is Holding Down Interest Rates

The FedMoney and BanksMoney and Banking

Blog06/26/2017
The empirical evidence is clear: the Fed is pursuing an expansionist monetary policy — and the economic benefits have been disappointing at best.

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The American Bar Association Stifles Legal Education

EducationLegal System

Blog06/25/2017
Ending the ABA's expensive accreditation authority would be a first step to making quality representation available to poor and rich alike.

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Four Reasons Central Banks are Wrong to Fight Deflation

Money and BanksMonetary TheoryMoney and Banking

Blog06/22/2017
The harmful character of deflation is a sacred dogma of monetary policy. However, evidence substantiating these claims is either weak or nonexistent.

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Will Our Grandchildren Work Only Four Hours Per Day?

Labor and WagesPoverty

Blog06/21/2017
If capitalists have their way, we may be looking at a future of 20-hour work weeks while producing a higher standard of living.

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Richard Cantillon Is Sleepless in Seattle

Business Cycles

Blog06/22/2017
Cheap money and Seattle's capital-fueled boom means Seattle may soon achieve Peak Skyscraper status.

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The Tragedy of the Commons in the Courtroom

Legal SystemTaxes and SpendingPolitical Theory

Blog06/22/2017
Since using the court system costs them nothing, police and prosecutors have an incentive to load up the court system with non-violent "crimes."

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A Theory of Entrepreneurship and Institutional Uncertainty

Calculation and KnowledgeEntrepreneurship

What is the relationship between entrepreneurs and uncertainty? Two Austrian economists explore the issue in this new journal article.

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A New Mythology

Blog06/19/2017
A new book has appeared with oceans of misinformation about libertarianism.

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