Value and Exchange

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Live by the Sword...

Monopoly and CompetitionValue and Exchange

Blog12/18/2007

Am I unlibertarian for hoping this guy wins? I mean, live by the sword, die by the sword, right? These companies clearly actively pursue, support, and employ government monopolies (patents) and use them to squelch competition. If this happens to violate federal anti-trust law, is this a tragedy...

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Gold and Mining Costs

Production TheoryValue and Exchange

Blog12/08/2007

Gold fund manager John Embry writes in Investors Digest of Canada, Gold Gleams as Influence of Central Bankers Wanes. Embry cites another analyst, Leonard Kaplan, who asks, why should gold cost $700...

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High School Senior's Questions about IP

Philosophy and MethodologyPrivate PropertyProduction TheoryValue and Exchange

Blog12/07/2007

I received an impressive inquiry from a high school senior: “I am contacting you to ask if I can interview you for my senior project paper, which is a persuasive paper about why copyrights are invalid and impractical. I will have between 5-10 questions regarding intellectual property for...

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Contra the "Labor Theory of Property"

Private PropertyValue and Exchange

Blog10/23/2007

The Lockean (and Rothbardian) theory of initial acquisition of property involves the necessity of mixing one's labor with an object in the external environment. Once labor has been applied to a thing, it can legitimately become one's private property. The immediate question that arises...

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Nothing New Under the Sun

U.S. EconomyU.S. HistoryEntrepreneurshipMonopoly and CompetitionValue and Exchange

Blog10/01/2007

There's no doubt that prosperity has smiled brighter and brighter on the last four generations. My grandparents, like many newly arrived from the Hell of Central Europe, lived in the attic above their ramshackle store. Their grandchildren however ramble around in what they would consider a...

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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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Is the Open Source Movement Libertarian?

Legal SystemMonopoly and CompetitionValue and Exchange

Blog08/24/2007

Yesterday the president of the Open Source Initiative attempted to show how the philosophy underscoring the open-source movement and libertarianism are best pals.

But can they even be enemies?

The problem with his argument, along with...

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How to Ruin an Economy in One Easy Step

Capital and Interest TheoryMoney and BankingValue and Exchange

Blog07/16/2007

Chris McGreal reports from Harare:

Zimbabweans are shopping like there's no tomorrow. With police patrolling the aisles of Harare's electrical shops to enforce massive government-ordered price cuts...

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We Can Learn From Our Fathers

Value and Exchange

Blog03/24/2007

9/26/06

Ted Roberts

2101 Aftonbrae Dr. SE

Huntsville, AL 35803

 

TV hosts with remodeled faces, economists who believe in interest rate manipulation, corporate execs who cook the books for lunch, even CEOs who eat free at the executive buffet — use the...

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Plug that Nickel!

Money and BanksInterventionismMonetary TheoryValue and Exchange

Blog01/31/2007

In a neat admission that his bosses are rotting the money in our pockets, Chicago Fed economist Francois Velde has come up with a bright idea: debase the nickel by a factor of five!

"The problem [...

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