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Mises Daily
Author:
Harry Valentine
Online Publish Date:
Canada has more fresh water than practically any other nation on the face of the earth. Yet Canada is in the midst of a summer drought. Parched brown fields are reported from coast to coast, and agricultural crops face devastation if the rains don’t come soon. This is not the first summer, however, that Canadians have faced water shortages; it
Free Market
Author:
Hans F. Sennholz
Online Publish Date:
The Free Market 19, no. 7 (July 2001) The work of Adam Smith was truly epoch-making in the development of economic thought. In his An Inquiry into the Nature and Causes of the Wealth of Nations , which appeared in 1776, he explained the law of supply and demand: “The market price of every particular commodity is regulated by the proportion
Mises Daily
Author:
Gene Callahan
Online Publish Date:
Umberto Eco juxtaposes the following quotes as illustrative of the two poles of theories of interpretation: “What does the fish remind you of?” “Other fish.” “And what do other fish remind you of?” “Other fish.” (Catch-22) Hamlet: Do you see yonder cloud that’s almost in the shape of a camel? Polonius: By th’ mass, and ‘tis like a
Mises Daily
Author:
Clifford F. Thies
Online Publish Date:
Ludwig von Mises was the foremost advocate of the gold standard of his day. Yet, he recognized that gold only became the world’s premier monetary metal because of a botched attempt to establish a bimetallic standard, in which the government tried to fix the value of gold in terms of silver ( Human Action, 3rd revised edition, p. 471 ). Well,
Mises Daily
Author:
Christopher Westley
Online Publish Date:
At the doctor’s office, we are faced with long waiting periods in crowded waiting rooms, and when the doctor finally sees us, he is rushed for time. The quality of service and the attention to detail suffer in such a situation, increasing the level of frustration for both doctor and patient. The doctor’s every action is monitored-either directly,
Mises Daily
Author:
William L. Anderson
Online Publish Date:
When we last left the Socialist Republic of California, someone had switched off the lights. According to the latest news, someone has switched them on again as the Democrat-dominated California State Assembly has supposedly “solved” the state’s electricity problems. Like so many other “solutions” that come from government, this one further
Mises Daily
Author:
William L. Anderson
Online Publish Date:
In the saga over California’s electricity woes, the real heavyweights have jumped into the fray, says the New York Times , and they think that California needs price controls, thank you. According to the Times, ten “of the nation’s leading authorities on regulation” have signed a letter to President Bush, demanding that the administration
Mises Daily
Author:
William L. Anderson
Online Publish Date:
As Congress and the pundits continue to debate the so-called Patients’ Bill of Rights, it becomes clear that much of the discussion reflects both cynicism and naiveté. Conservatives who oppose the bill on both matters of principle and practicality say that it will invoke the “law of unintended consequences,” in that it will open the doors for
Mises Daily
Author:
William L. Anderson
Online Publish Date:
As television cameras were replaying the collapse of the World Trade Towers Tuesday afternoon, panic buying of gasoline quickly set in. People who were suddenly fearful that they might not be able to purchase a tank of gasoline began to crowd gas stations in many cities, and not long afterward, unsurprisingly, gasoline prices soared to levels of