Daily Economy
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Mises’s Regression Theorem, Bitcoin, and Subjective Value Theory
“If value is subjective, and if a medium of exchange is a good like any other, then how can we say that a good could not first be valued by some person somewhere as a medium of exchange rather than for some other purpose beforehand?” ~ Emile Phaneuf III
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A Three-Pronged Blunder, or, What Money Is, and What It Isn’t
“Can we please junk the stupid three-function definition of money? So what if textbook writers keep repeating it? It’s incoherent. It’s based on some earlier economists’ sloppy reading of Jevons’s classic treatment.” ~ George Selgin
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The Use of Incentives in Crypto
“Unlike nation states or oligopolistic markets (think utilities, telecommunications or social media) where the costs of consumers/producers exiting are high, or where exit options are scarce, the bulwarks against predatory governance are far weaker.” ~ Donovan Choy
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Job Openings Fell Again in September but Remain Very High
“Job openings fell back slightly but remain very high as quits continue to surge. Overall, the outlook is for economic growth, but headwinds remain.” ~ Robert Hughes
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Consumer Sentiment Fell in Early November as Inflation Fears Grow and Partisan Divides Deepen
“Consumer sentiment fell in early November as consumers react to rising prices for many consumer goods and divisions along political lines regarding economic policies. Both are negative developments for the economic outlook.” ~ Robert Hughes
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How the Consumer Will Become a Partner on the Electric Grid
“We, the consumers, will be partners in the electric future, managing our own uses and supporting the grid with our electric cars and trucks. That is Mansoor’s achievable vision.” ~ Llewellyn King
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Democrats’ Minimum Tax Proposal Won’t Force Amazon to Pay More In Taxes
“A domestic minimum tax is not good for America. Legislators should find it a plot in the ever-growing graveyard of bad Democratic tax proposals.” ~ Travis Nix
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China is About to Make a Huge Mistake: Make Xi Jinping Dictator for Life
“The PRC will continue to pose a serious challenge to America and the West. However, Xi’s war on liberty will give the U.S. an important and enduring advantage in the contest for the future.” ~ Doug Bandow
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The Long History of Parents’ Rights
“If the recent denigration of parents is a harbinger of things to come, then liberty-loving people need to make the case, once again, for the right of parents to direct their children’s education, including in public schools.” ~ Joseph Griffith
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Dear America: It’s Time to Break Up
“Decentralization is the light at the end of a very dark tunnel for America. Eventually, we may not have a choice — and at that stage, such a breakup will be far uglier and more painful than one we agree to now.” ~ Max Borders
-
•
Mises’s Regression Theorem, Bitcoin, and Subjective Value Theory
“If value is subjective, and if a medium of exchange is a good like any other, then how can we say that a good could not first be valued by some person somewhere as a medium of exchange rather than for some other purpose beforehand?” ~ Emile Phaneuf III
-
•
A Three-Pronged Blunder, or, What Money Is, and What It Isn’t
“Can we please junk the stupid three-function definition of money? So what if textbook writers keep repeating it? It’s incoherent. It’s based on some earlier economists’ sloppy reading of Jevons’s classic treatment.” ~ George Selgin
-
•
The Use of Incentives in Crypto
“Unlike nation states or oligopolistic markets (think utilities, telecommunications or social media) where the costs of consumers/producers exiting are high, or where exit options are scarce, the bulwarks against predatory governance are far weaker.” ~ Donovan Choy
-
•
Job Openings Fell Again in September but Remain Very High
“Job openings fell back slightly but remain very high as quits continue to surge. Overall, the outlook is for economic growth, but headwinds remain.” ~ Robert Hughes
-
•
Consumer Sentiment Fell in Early November as Inflation Fears Grow and Partisan Divides Deepen
“Consumer sentiment fell in early November as consumers react to rising prices for many consumer goods and divisions along political lines regarding economic policies. Both are negative developments for the economic outlook.” ~ Robert Hughes
-
•
How the Consumer Will Become a Partner on the Electric Grid
“We, the consumers, will be partners in the electric future, managing our own uses and supporting the grid with our electric cars and trucks. That is Mansoor’s achievable vision.” ~ Llewellyn King
-
•
Democrats’ Minimum Tax Proposal Won’t Force Amazon to Pay More In Taxes
“A domestic minimum tax is not good for America. Legislators should find it a plot in the ever-growing graveyard of bad Democratic tax proposals.” ~ Travis Nix
-
•
China is About to Make a Huge Mistake: Make Xi Jinping Dictator for Life
“The PRC will continue to pose a serious challenge to America and the West. However, Xi’s war on liberty will give the U.S. an important and enduring advantage in the contest for the future.” ~ Doug Bandow
-
•
The Long History of Parents’ Rights
“If the recent denigration of parents is a harbinger of things to come, then liberty-loving people need to make the case, once again, for the right of parents to direct their children’s education, including in public schools.” ~ Joseph Griffith
-
•
Dear America: It’s Time to Break Up
“Decentralization is the light at the end of a very dark tunnel for America. Eventually, we may not have a choice — and at that stage, such a breakup will be far uglier and more painful than one we agree to now.” ~ Max Borders