The Systemic Siesta
The respective wage rates in Spain and Germany would seem to make Spanish labor much more affordable. Profit-maximizing businesses should be expanding their facilities to take advantage of the opportunity the Spanish crisis has provided and eschew higher-cost German labor. So why aren't they?
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The academic class hated the book. But readers made it a gigantic success in America, quickly buying over half a million copies.
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Early Christian Communism
For centuries the alleged ideal of communism had come to the world as a messianic and millennial creed.
The Circle Bastiat
Douglas French: The demand for money
U.S. banks are awash in deposits as the industry continues to lick its wounds from the 2008 crisis. The net loan to deposit ratio for all banks is just 70%, the lowest level since 1984, reports David Reilly for the WSJ.
Meanwhile, in Europe,
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Daniel J. Sanchez: Rothbard in Switzerland
Thorsten Polleit emails:
Today, Murray N. Rothbard shows up in Switzerland's most prominent newspaper, Neue Zürcher Zeitung (NZZ), in an article titled Dangers of the paper money system:
http://www.nzz.ch/aktuell/wirtschaft/uebersicht/
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Douglas French: (Under)Waterworld
According to real estate site Zillow, almost 16 million homeowners owe more on their mortgage than the underlying collateral is worth. At the same time, the LA Times reports that 90% of these underwater homeowners are current on their mortgage
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Daniel J. Sanchez: Woods and LvMI on Bloomberg News
Tom Woods and the Mises Institute got a mention in this piece on a young Ron Paulian Super PAC founder.
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