Recession and Recovery: W.H. Hutt’s View

There is a considerable Austrian literature on the unsustainable boom driven by credit expansion. When the boom ends, a depression begins. The depression is a transitional period of reduced production that lasts until entrepreneurs restructure capital and labor into sustainable uses. During the depression, there is unavoidable unemployment of both people and productive assets. The recovery is marked by an increase in production and the employment of resources that were idle during the bust. What happens during a depression? Should we expect it to end, or can an economy remain…

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If the US Wants to Beat China, Why Is It Copying China’s Socialism?

If the US wants to strengthen its economic and geostrategic position versus China, it needs to apply the same free market principles that made it prosperous and powerful in the first place.  Original Article: “If the US Wants to Beat China, Why Is It Copying China’s Socialism?” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Source link

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1789: The Electoral College Meets for the First Time

With all but two relatively obscure states—Rhode Island and North Carolina—having ratified the Constitution, the Confederation Congress was now ready to put the new federal government in place. As soon as New Hampshire became the ninth state to ratify, Congress dutifully created a committee to get the new Constitution up and running. Only the doughty Abraham Yates dissented—in a sense, the last attempt to block the Constitution as a whole. To the determined Antifederalists throughout the county, their next tack was forcefully imposed upon them by the very course of…

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Pinterest (PINS) earnings Q2 2021

Ben Silbermann, co-founder, chairman and CEO of Pinterest, speaks in front of the company’s logo at the New York Stock Exchange (NYSE), during the company’s IPO on April 18, 2019 in New York City. Johannes Eisele | AFP | Getty Images Pinterest shares fell more than 16% in after-hours trading on Thursday after the company reported its second-quarter earnings, missing once again on user growth expectations. Here’s what it reported: Adjusted earnings per share: 25 cents vs. 13 cents forecast by Refinitiv Revenue: $613 million vs. $562.1 million forecast by Refinitiv Monthly…

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Amazon (AMZN) earnings Q2 2021

Andy Jassy, CEO Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, California, October 25, 2016. Mike Blake | Reuters Amazon is set to announce its second-quarter earnings after the bell on Thursday. Here’s what Wall Street is expecting: Earnings: $12.30 per share, according to analysts surveyed by Refinitiv Revenue: $115.2 billion, according to analysts surveyed by Refinitiv Analysts are expecting sales to surge 29.6% year-over-year to $115.2 billion, marking three consecutive quarters with more than $100 billion in revenue. Amazon reported its first $100 billion quarter…

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Why Europe’s Highly Regulated Power Market Is So Bad for Growth

In Europe, there is no competitive market for electrical power. And since power is an important factor of production, it also means the overall marketplace is wasteful, inefficient, and sluggish.  Original Article: “Why Europe’s Highly Regulated Power Market Is So Bad for Growth” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Source link

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Rothbard Graduate Seminar 2022 | Mises Institute

The purpose of the Rothbard Graduate Seminar is to provide an intense study of Misesian and Rothbardian economic analysis, along with the substantive conclusions of that research in related fields. The core text for RGS 2022 is a Rothbard reading to be determined. Each attendee will receive along with other study materials once the text is announced. Welcoming remarks and discussions take place over dinner Sunday, June 5. Sessions begin Monday morning, June 6, and end Friday afternoon, June 10. Scholarship application deadline is February 25, with decisions communicated to all…

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Mises University 2022 | Mises Institute

Austrian Economics Rooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian school offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice. More than a field within economics, the Austrian school is an entirely different approach that dissents from the mainstream on method, theory, and policy. It views economic actors as unique, conscious, and freely choosing individuals, not as undifferentiated data to be manipulated…

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Why Are Thieves Stealing So Many Catalytic Converters?

The local paper offered up this vague headline last week, “Car Part Thefts Up in Henderson in 2021, Police Say.” Most readers likely passed over the article. But, in the time it takes to read the piece, a half dozen catalytic converters can be stolen. “It actually takes an individual who’s committing these offenses about three seconds really to slide up underneath the car and saw off a catalytic converter and they’re out,” police chief Thedrick Andres said in a livestream last month warning residents about the issue, Sabrina Schnur…

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