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In a 1964 article in the Yale Law Journal titled The New Property Charles Reich argued that “government largesse” is an increasingly important source of wealth and should thus be understood and regulated as a new form of property. Reich argued that “Property is a legal institution, the essence of which is the creation and protection of certain private rights in wealth of any kind” and that “Property is not a natural right but a deliberate construction by...

Rather than attempt to evade Caesar’s reach, a better strategy might be to ‘go gray’: blend in, appear average. Let’s start by stipulating that I don’t “like” this forecast. I’m not “talking my book” (for example, promoting nuclear power because I own shares in a uranium mine) or issuing this forecast because I favor it. I simply see it as the most likely trajectory of the global financial system, based on history and the dynamics of human systems. “Liking” it or...

Listed and linked below are the readings that all students must complete before attending RGS. All materials are available on Mises.org free of charge, and most readings are available in multiple formats (e.g., PDF, ePub, HTML, audio). Complimentary physical copies of the readings will be available to attendees upon arrival at RGS. Physical copies can be mailed in advance to U.S. addresses upon request by emailing [email protected]. Required ReadingsHuman Action:...

Listed and linked below are the readings that all students must complete before attending RGS. All materials are available on Mises.org free of charge, and most readings are available in multiple formats (e.g., PDF, ePub, HTML, audio). Complimentary physical copies of the readings will be available to attendees upon arrival at RGS. Physical copies can be mailed in advance to U.S. addresses upon request by emailing [email protected].Required...

Canadian Dollar gives away gains as USD bounces up following strong Retail Sales data. Investors’ concern that Middle East conflict might escalate provides additional support to the safe-haven US Dollar. Oil prices have depreciated nearly 3.5% from early April highs, adding negative pressure to CAD. The Canadian Dollar (CAD) recovery attempt seen during Monday’s European session has been short-lived. The US Dollar has resumed its bullish...

Three years ago, in a citizen’s initiation approved by 3/4 of voters, Oregon decriminalized the possession of small amounts of illicit drugs. Last month, the Oregon governor signed into law a measure that undid what the people of Oregon had decided. The reason for this change in direction was that there were severe problems that arose with decriminalization. Two of the biggest problems were (1) Drug addiction and deaths from drug overdoses had soared; and (2)...

The Pound Sterling faces pressure as geopolitical tensions improve the appeal for safe-haven assets. UK’s employment and inflation data will influence speculation over BoE rate cuts. The UK economy is on track to come out of a technical recession. The Pound Sterling (GBP) remains on the backfoot against the US Dollar in Monday’s early New York session. The near-term demand of the GBP/USD pair remains downbeat due to deepening Middle East...

The seventy-fifth anniversary of Ludwig von Mises’s Human Action invites us to ponder on Mises’s scholarly achievements and how the economic mainstream has not yet caught up to his advances in economics. Like Jesus Huerta de Soto points out in his preliminary study to the Spanish version of the thirteenth edition of Human Action: few are the treatises on the side of the mainstream that even try to match what Mises does in Human Action.Mises’s work is not only...

The seventy-fifth anniversary of Ludwig von Mises’s Human Action invites us to ponder on Mises’s scholarly achievements and how the economic mainstream has not yet caught up to his advances in economics. Like Jesus Huerta de Soto points out in his preliminary study to the Spanish version of the thirteenth edition of Human Action: few are the treatises on the side of the mainstream that even try to match what Mises does in Human Action.Mises’s work is not only...

Redundancies at Switzerland's largest bank will test the capacity of the financial sector to absorb jobs. Keystone A year ago Credit Suisse staff were stunned by the sudden demise of their bank. Many are now fighting for their careers with 3,000 Swiss posts set to be axed by their new employer UBS, starting this year....