Archive for July, 2008
$10 Billion to $1 in Zimbabwe

To follow up on my recent posting regarding the funding of oppression in Zimbabwe through hyperinflation, Zimbabwean Central Bank Governor Gideon Gono has announced that after issuing $100 billion notes (not yet enough to buy even a loaf of bread), the government is devaluing its currency by dropping 10 zeroes, converting 10 billion dollars...
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Consumer “Protection”

After seventeen months of deliberation, investigation, and debate, it appears that the federal government will finally allow satellite radio providers XM and Sirius to merge. The regulatory hurdles the companies had to overcome were ostensibly in place to protect consumers, but the effect of the regulations were to waste resources and delay a merger...
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Attack Canada!

During the many years I resided in the Seattle area, I frequently drove up Interstate 5 to Vancouver, to eat at a favorite restaurant, visit friends, or just enjoy myself in one of the world’s most spectacularly beautiful cities. At Blaine, Washington, where travelers along this route cross the border into Canada, I always...
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New Edition of Hayek’s Early Works

The Mises Institute has just released a new edition of Hayek’s early works on economic theory, Prices and Production and Other Works: F. A. Hayek on Money, the Business Cycle, and the Gold Standard, edited and introduced by Joe Salerno. It collects the monographs Prices and Production, Monetary Theory and the Trade Cycle, and...
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How “Urban Renewal” Destroyed San Francisco’s Fillmore District

The great urban journalist Jane Jacobs probably had New York City in mind when she wrote about the potentially devastating effects of government-sponsored “redevelopment” on the inner city, but her lesson applies in many cities across the world. San Francisco’s Fillmore District is a prime example of an “urban renewal” disaster. “The agency’s time...
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The Oil Pricing Squeeze Is On

Americans are now feeling the real squeeze between warfare zealots and anti-development environmentalists as the price of gasoline continues to skyrocket. In a recent article for Bloomberg.com, Alexander Kwiatkowski notes that the most recent $5 spike in crude oil prices to a record high of $146.90 has resulted from . . . concerns that...
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What Credit Crunch?

For months, the news media have been dispensing reports of a “credit crunch.” I have been puzzled by these reports because scarcely a day passes that I do not receive offers in the mail or via the Internet from lenders who want to lend me money to refinance my mortgage or to make purchases...
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Farewell to Offshore Tax Havens

Are we to be spared nothing? The leaders of our two party monopoly have decided to wage war on some of the last remaining refuges of financial freedom and privacy. According to this morning’s story in USA Today, Republican Norm Coleman, the ranking member of the Senate Committee on Investigations, applauded... ...proposed legislation to...
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Forget Polls: Look at Prediction Markets on the Election

(Moderators’ Note: Nothing here to be construed as an endorsement of any political action—this analysis is for educational purposes only.) During election season, pundits and politicians are obsessed with polls. But are they obsessed with the wrong thing? There is a growing academic literature on the role of prediction markets, particularly in political contests,...
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$150 Billion for a Beer? Funding Oppression in Zimbabwe

To fund his gangster regime, Marxist Robert Mugabe‘s government may be breaking all known records for hyperinflation. Recently “elected” President of Zimbabwe through a campaign of bombings, murders, rapes, torture and repression to destroy his political opposition, Mugabe has financed his regime of terror and oppression by wildly printing new money to fund the...
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