The Human Action Podcast
By Mises Institute
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Description
The Human Action Podcast features in-depth interviews on current topics in economics through an Austro libertarian lens.
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A Comprehensive Case for Ending the Fed | Bob goes solo to make a comprehensive case for abolishing the Federal Reserve and explains what life afterward would look like. He dives into the Fed’s marked history, its questionable track record, and the secrecy surrounding its creation and ongoing | 7/13/2025 | Free | View in iTunes |
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Essays in Austrian Economics: Honoring Joe Salerno | This week, Bob talks with economist and Mises Institute research fellow, David Howden, co-editor of The Next Generation of Austrian Economics: Essays in Honor of Joe Salerno. They discuss key chapters from the book, highlighting significant contribution | 7/7/2025 | Free | View in iTunes |
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Steve Hanke on Hyperinflation, Currency Boards, and the COVID Lockdown Debacle | Bob hosts economist and distinguished senior scholar at the Mises Institute, Steve Hanke, to discuss his research on hyperinflations, currency board solutions, and the economic effects of the COVID lockdowns. Hanke explains the findings of his meta-ana | 7/1/2025 | Free | View in iTunes |
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Thomas Paine: The American Revolution's Unlikely Hero | Bob is joined by author George Ford Smith for a detailed examination into the life and legacy of Thomas Paine. They discuss how Paine’s writings, especially Common Sense and the American Crisis essays, mustered colonial support for independence and ev | 6/22/2025 | Free | View in iTunes |
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The Debate Over the Big Beautiful Bill | Bob hosts economist Daniel Lacalle to analyze the controversial Big Beautiful Bill. Daniel explains why, despite its imperfections, the bill represents a vital first step toward curbing government spending and protecting private-sector prosperity from e | 6/14/2025 | Free | View in iTunes |
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New Academic Paper Uses Rothbard's National Output Metric | Vincent Geloso and Chandler Reilly have a new paper in which they use Rothbard's "Private Product Remaining" (PPR) as a lower bound on estimates of national output, to be contrasted with the convention GDP statistics as an upper bound. Bob has the autho | 6/11/2025 | Free | View in iTunes |
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The Crucial Principle and Data At Stake in the SoHo Immigration Debate | In this episode of the Human Action Podcast, Bob analyzes the key arguments from the recent immigration debate at the Soho Forum between Dave Smith and Alex Nowrasteh. He clarifies the critical issue of how libertarians should approach immigration when | 5/30/2025 | Free | View in iTunes |
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What the New Right Gets Right—and Wrong—About Free Trade | Bob takes a close look at Oren Cass’s recent appearance on Tucker Carlson, where Cass argued for free trade to a skeptical conservative audience. Bob unpacks Cass’s arguments about tariffs, comparative advantage, and trade deficits—not to attack, | 5/25/2025 | Free | View in iTunes |
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Why Are US Drug Prices So High? | Economist Alex Tabarrok joins Bob to review Trump’s executive order on prescription drug pricing. They explore how price discrimination works in global pharmaceutical markets, the unintended consequences of importation policies, and why U.S. consumers | 5/19/2025 | Free | View in iTunes |
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Explaining the Quirks in the GDP Report | The recent BEA "Advance Estimate" for 1q GDP growth showed a lackluster drop of 0.3 percent, but it included unusually large swings in private inventories and imports, as well as a drop in federal expenditures. Some MAGA fans have argued that once you a | 5/12/2025 | Free | View in iTunes |
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The Method Behind Real Economic Thinking | Dr. Jonathan Newman returns to the Human Action Podcast to discuss the relaunch of the Mises Academy—including his new course based on Bob's Lessons for the Young Economist textbook. But this conversation goes much deeper than curriculum. Bob and Jona | 5/5/2025 | Free | View in iTunes |
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Should Economists Champion Fed "Independence"? | Dr. Joe Salerno joins Bob to review the recent tensions between Donald Trump and Fed Chairman Jerome Powell. As Trump questions Powell’s leadership and Fed policy, they explore the deeper issues: Should central banks really be "independent"? Does the Fed’s shield from political oversight protect sound economics—or merely insulate elites from accountability? Murphy and Salerno tackle myths about interest rates, inflation, debt monetization, and the Fed’s true relationship with government spending. Trump's Truth Social Post on Inflation: Mises.org/HAP497aCan Trump Fire Federal Reserve Chair Jerome Powell?: Mises.org/HAP497bThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 4/25/2025 | Free | View in iTunes |
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Randall Wray's MMT Lecture Distorts History | The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture. Wray, "Modern Money Theory for Beginners": Mises.org/HAP496aThe NBER Paper on Colonial Virginia's Money Regime: Mises.org/HAP496bNPR Planet Money, "A Giant Stone Coin At The Bottom Of The Sea": Mises.org/HAP496cMilton Friedman, "The Island Of Stone Money": Mises.org/HAP496dBob's Article, "MMT and Treasury Debt Payoff": Mises.org/HAP496eThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 4/18/2025 | Free | View in iTunes |
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Trump's Tariffs: Triffin Is Wrong, Ron Paul Is Right | In this episode, Bob breaks down the Triffin dilemma, explaining why it's wrong to assume that maintaining global reserve currency status requires ever-increasing U.S. trade deficits. He shows that America’s chronic deficits are driven more by government spending and fiat money than by global necessity, making the case that returning to fiscal discipline and sound money—not tariffs—is the key to reversing America’s economic decline. Bob and Jonathan Newman on Misleading Charts: Mises.org/HAP495aHow Economists Evaluate Tariffs Versus Income Taxes: Mises.org/HAP495bThe St. Louis Federal Reserve Article on Historical U.S. Trade Deficits: Mises.org/HAP495cThe Charts Referenced in this Episode: Mises.org/HAP495dSaez and Zucman, "The Rise of Income and Wealth Inequality in America": Mises.org/HAP495eTrump's Remarks on the US being a "Tariff-Backed Nation": Mises.org/HAP495fThe Tucker Carlson Show with Bob Lighthizer: Mises.org/HAP495gThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 4/9/2025 | Free | View in iTunes |
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Menger vs. MMT on the Origins of Money | Jonathan Newman joins Bob to discuss the debate between Austrians and MMTers on the origins of money. In the Anti-MMT panel at the Austrian Economics Research Conference (AERC), Jonathan presented his research on the archeological evidence that silver was used as money in ancient Mesopotamia and how the evidence vindicates Menger's theory on the origins of money. Jonathan and Bob walk through various MMT responses and make the case that the Austrian school is especially suited to critique Modern Monetary Theory. The Anti-MMT Panel from the 2025 AERC: Mises.org/HAP494aElon Musk and Ted Cruz Discussing "Magic Money Computers": Mises.org/HAP494bJonathan's Overwhelming Evidence that Silver was Money in Ancient Mesopotamia: Mises.org/HAP494cThe X Thread by Patricia Pino on the Measure of Value of Money: Mises.org/HAP494dBob's "Origin of the Specie" in The American Conservative: Mises.org/HAP494eR.A Radford's "The Economic Organization of a P.O.W. Camp": Mises.org/HAP494fThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 4/5/2025 | Free | View in iTunes |
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Even the Inventor of GDP Statistics Knew Government Spending Was Dubious | Patrick Newman joins Bob to discuss one of his talks at the Austrian Economics Research Conference (AERC), where he explained that Simon Kuznets–who developed the method of calculating GNP and GDP statistics–had serious doubts about how to include government expenditures. Patrick's Talk at the 2025 AERC: Mises.org/HAP493aRothbard's Man, Economy, and State: Mises.org/HAP493bBob's 2014 Talk on the Great Depression: Mises.org/HAP493cThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 3/30/2025 | Free | View in iTunes |
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Are Trade Deficits a Sign of Economic Strength? | Bob responds to recent tweets that believe trade deficits are a sign of economic strength. He also includes an op-ed from Robert Barro and a clip from Milton Friedman, to show that even big gun economists can often speak in misleading ways when it comes to trade deficits. Bob's Article on Free Traders Defending Deficits: Mises.org/HAP492aThe FRED Chart Referenced in this Episode: Mises.org/HAP492bBob's 2007 Mises Daily article on Capital Surplus: Mises.org/HAP492cBob's 2007 Mises Daily article Predicting the Recession: Mises.org/HAP492dThe Human Action Podcast Episode on International Trade: Mises.org/HAP492eThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Join us May 15–17, 2025, at the Mises Institute for our Revisionist History of War Conference: Mises.org/RHW | 3/22/2025 | Free | View in iTunes |
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Why Price Deflation Doesn't Hinder Investment | One of the common worries about a hard money like gold or Bitcoin is that large price deflation could make lending and investment impossible because nominal interest rates can't go below 0%. Bob explains why these fears are invalid. The Charts Used in This Episode Can Be Viewed Here: Mises.org/HAP491aThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Join us May 15–17, 2025, at the Mises Institute for our Revisionist History of War Conference: Mises.org/RHW | 3/14/2025 | Free | View in iTunes |
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Perfecting the Libertarian Argument for Dealing with the Drug Cartels | Bob first reviews the standard libertarian case for legalizing drugs as the way to neutralize the Mexican drug cartels. Then he plays a recent clip where Dave Smith argues that drug prohibition leads to violence because (among other factors) you can't call the cops if someone steals your product. Bob argues that libertarians should stop making this (invalid) argument. Bob's Lessons for the Young Economist: Mises.org/HAP490aPart of the Problem Episode 1233: Mises.org/HAP490bThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 3/7/2025 | Free | View in iTunes |
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Guido Hülsmann on What You Can Find in the New Grove City Mises Archives | Grove City College has recently digitized its collection of post-war materials—including photos, correspondence, and manuscripts—from the great Austrian economist, Ludwig von Mises. Mises' biographer, Guido Hülsmann, joins Bob to discuss some of the treasures that have been made available online. Explore the Grove City College's Digital Mises Archive: Mises.org/HAP489aDr. Hülsmann's Biography of Mises, The Last Knight of Liberalism: Mises.org/HAP489bMurray's 99th birthday is March 2. Please share pictures of yourself (hashtag #happybirthdayrothbard) reading a Rothbard book or wearing a Rothbard t-shirt. The Mises Institute is celebrating with its Murray99 campaign: Everyone who donates $26 or more using the mises.org/murray99 link will receive a copy of Economic Depressions: Their Cause and Cure, originally published in 1969, and Nations by Consent, originally published in 1994. The first 26 donors will also receive the Rothbard lapel pin. All donations will fund student scholarships. Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 3/2/2025 | Free | View in iTunes |
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Would DOGE Dividend Checks Stoke Inflation? | Some have proposed that the spending cuts identified by DOGE be directed towards a $5000 tax rebate for Americans who pay federal taxes. Critics warn it could be inflationary, just like the COVID-era stimmies. Bob disagrees, explaining that the DOGE spending cuts offset the impact. Rothbard's Making Economic Sense: Mises.org/HAP488aBob's Understanding Money Mechanics: Mises.org/HAP488bJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 2/21/2025 | Free | View in iTunes |
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Unpacking the Document that Spells Out Trump's Tariff Strategy | Josh Hendrickson is the chair of the Economics Department at the University of Mississippi. He recently brought to Twitter's attention a 41-page document released in November by Stephen Miran, the Harvard PhD whom Trump has nominated as the new chair of the Council of Economic Advisors. The document spells out a strategy of using tariffs and deregulation to Make America Great Again. The 41-Page Tariff Document: Mises.org/HAP487aJosh's X Thread Detailing the Document: Mises.org/HAP487bJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 | 2/14/2025 | Free | View in iTunes |
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Erick Brimen Explains the Free City of Próspera | Erick Brimen is the CEO of Honduras Próspera, which is described as a "start up city" that offers choice in regulatory treatment. It is an exciting application of libertarian theory to the messy real world of existing States. Find Out More about Honduras Próspera: Mises.org/HAP486aJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25 The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 2/8/2025 | Free | View in iTunes |
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Would Trump's Plan to Replace Income Tax with Tariffs Work? | Bob analyzes President Trump's recent remarks praising the revenue capacity of tariffs. He shows that historically, tariffs only bought in a small fraction of what income taxes currently yield, meaning federal spending would have to be sharply cut in order to phase out the income tax. HAPod Ep. 458 on Tariffs vs. Income Taxes: Mises.org/HAP485aBrian Domitrovic's Forbes Article, "Supply-Siders Battle Their Tariff Critics": Mises.org/HAP485bTrump on Tariffs: Mises.org/HAP485cThe Chart Shown in this Episode: Mises.org/HAP485dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25 The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 1/31/2025 | Free | View in iTunes |
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Murphy and Newman Do a Postgame Analysis of ZeroHedge MMT Debate | Murphy recently squared off against Nathan Tankus in a ZeroHedge debate focusing on Austrian economics vs. Modern Monetary Theory (MMT). Jonathan Newman watched the debate and selected three clips highlighting key areas of dispute. Jonathan and Bob elaborate on the issues and anticipate possible MMT replies. Bob's ZeroHedge Debate with Nathan Tankus: Mises.org/HAP484aBob and Jonathan's Tag-Team Mises University Lecture on MMT: Mises.org/HAP484bBob's Quarterly Journal of Austrian Economics Paper on The Deficit Myth: Mises.org/HAP483cWilliam Hutt's The Theory of Idle Resources: Mises.org/HAP484dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25 The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 1/24/2025 | Free | View in iTunes |
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Lawrence McQuillan Explains the Policy Inferno Behind the California Wildfires | Lawrence McQuillan from the Independent Institute joins Bob to delve into the regulatory failures and mismanagement behind the wildfire crisis in California. They discuss the environmental policies that exacerbate risks, offer practical solutions to firefighting and prevention shortcomings, and examine the role of private stewardship in mitigating future disasters. This episode overall sheds light on how California’s political landscape and approach to wildfires continues to fuel a recurring tragedy. Lawrence's 2017 Article Detailing the CA's Fire Prevention Problem: Mises.org/HAP483aLawrence’s 2019 Golden Fleece Report Submission on Mismanagement in CA: Mises.org/HAP483bLawrence’s 2020 Interview on the Reasons Ca’s Fires Keep Happening: Mises.org/HAP483cLawrence’s 2024 Article on Lessons From the Lahaina Wildfires:: Mises.org/HAP483dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25 The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 1/18/2025 | Free | View in iTunes |
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The Flaws of GDP Accounting Explained | Bob looks at the misconceptions and misuses of GDP accounting, explaining why this widely accepted metric often paints a misleading picture of economic health. Bob's 2009 Mises Article on Krugman: Mises.org/HAP482aHuman Action Podcast Episode 481 on Business Cycle Theory: Mises.org/HAP482bBob's Mises Article on GDP: Mises.org/HAP482cThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 1/11/2025 | Free | View in iTunes |
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Why Government Relief Spending Only Makes the Recession Worse | Bob walks through diagrams from Hayek's famous LSE lectures to explain the Austrian view of the boom-bust cycle. The Diagrams Referenced in this Episode: Mises.org/HAP481aHayek's Prices and Production: Mises.org/HAP481bRothbard's Man, Economy, and State: Mises.org/HAP481cBob's Study Guide to Man, Economy, and State: Mises.org/HAP481dRoger Garrison's PowerPoint on the Hayekian Triangle: Mises.org/HAP481eThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 1/3/2025 | Free | View in iTunes |
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Matt McCaffrey on Frank Fetter vs. Alfred Marshall on the Theory of Rent | Matt McCaffrey is a former Mises Institute research fellow with an expertise in the American economist (and Austrian fellow-traveler) Frank Fetter. He joins Bob to discuss his newly published journal article exploring the dispute Fetter had with the august British economist Alfred Marshall over the theory of rent. Dr. McCaffrey's Journal Article: Mises.org/HAP480aFrank Fetter's Capital, Interest, and Rent: Mises.org/HAP480bMatt McCaffrey, “Frank Fetter and the Austrian Tradition in the United States”: Mises.org/HAP480cFor just $25, you can receive our December Bundle, including three essential reads:Tom DiLorenzo's Axis of Evil: America’s Three Worst Presidents, Per Bylund's How to Think About the Economy,and Murray Rothbard's What Has Government Done to Our Money?. Claim your bundle now at Mises.org/HumanAction24 | 12/28/2024 | Free | View in iTunes |
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Dr. Keith Smith: What Critics Miss About For-Profit Healthcare | Keith Smith, MD is an anesthesiologist and founder of the cash-price Surgery Center of Oklahoma. In the wake of the shooting of UnitedHealth CEO Brian Thompson, Keith explains why US health care is so expensive and how to fix it. The Surgery Center of Oklahoma: Mises.org/HAP479aThe Story of the $100 Hospital Aspirin: Mises.org/HAP479bPrimal Prescription: Surviving the 'Sick Care' Sinkhole: Mises.org/HAP479cFor just $25, you can receive our December Bundle, including three essential reads:Tom DiLorenzo's Axis of Evil: America’s Three Worst Presidents, Per Bylund's How to Think About the Economy,and Murray Rothbard's What Has Government Done to Our Money?. Claim your bundle now at Mises.org/HumanAction24 | 12/20/2024 | Free | View in iTunes |
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What's More "Wicked" than the Crime of '73? | Using the heavily marketed movie "Wicked" as his news hook, Bob explains that the beloved Wizard of Oz movie involved an allegory of the bimetallism debates of the late 1800s, including William Jennings Bryan's famous "Cross of Gold" speech. Bob fills in the details about the Wizard of Oz lore, and then explains the economics of bimetallism in the United States. Bob's Book, Understanding Money Mechanics: Mises.org/HAP478aThe Wikipedia Article on the Political Interpretations of The Wonderful Wizard of Oz: Mises.org/HAP478bThe Wikipedia Article on the Wicked Novel: Mises.org/HAP478cFor just $25, you can receive our December Bundle, including three essential reads:Tom DiLorenzo's Axis of Evil: America’s Three Worst Presidents, Per Bylund's How to Think About the Economy,and Murray Rothbard's What Has Government Done to Our Money?. Claim your bundle now at Mises.org/HumanAction24 | 12/13/2024 | Free | View in iTunes |
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David Glasner on the Sraffa-Hayek Debate | David Glasner is a UCLA-trained economist specializing in monetary theory and the history of economic thought. He has disagreed in print with Murphy's take on the famous Sraffa-Hayek debate. David first explains his general views and then comments on the debate. Bob's Paper, "A Problem With the Pure Time Preference Theory of Interest": Mises.org/HAP477aDavid's Paper "The Sraffa-Hayek Debate on the Natural Rate of Interest": Mises.org/HAP477bFor just $25, you can receive our December Bundle, including three essential reads:Tom DiLorenzo's Axis of Evil: America’s Three Worst Presidents, Per Bylund's How to Think About the Economy,and Murray Rothbard's What Has Government Done to Our Money?. Claim your bundle now at Mises.org/HumanAction24 | 12/7/2024 | Free | View in iTunes |
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Responding to Bryan Caplan's Continued Critique of the Austrians | In 1997, Bryan Caplan wrote an essay explaining why he was no longer a self-described Austrian. Recently, a reader asked him to comment on that essay. Bob reacts to Bryan's current views, arguing that the history of economic thought is indeed important, and the Misesian approach to praxeology is crucial. Bryan Caplan's Recent Article: Mises.org/HAP476aBryan Caplan's "Why I Am Not an Austrian Economist": Mises.org/HAP476bHoppe's Economic Science and the Austrian Method: Mises.org/HAP476cBob's Cambridge University Press Article on Böhm-Bawerk's Critiques: Mises.org/HAP476dA Modern Guide to Austrian Economics: Mises.org/HAP476eBob and David Freidman, "The Chicago Vs. Austrian School Debate": Mises.org/HAP476fThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 11/30/2024 | Free | View in iTunes |
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Clarifying Economists' Arguments About International Trade | Bob discusses common talking points that pro-free-trade economists often use when making the case against tariffs. The purpose is to facilitate discussion so both sides have a deeper understanding of the subtle issues involved. Bob's Article on Trade Deficits: Mises.org/HAP475aSteve Landsburg on Obama's State of the Union Remarks about Exports: Mises.org/HAP475bThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 11/23/2024 | Free | View in iTunes |
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Why FEMA Makes Things Worse: Theory and History | Amy LePore's doctoral dissertation covered the perverse incentives of federal money for disaster management on local officials. She joins Bob to talk about FEMA's poor track record in recent disasters but also going back to Hurricane Katrina. Amy's Dissertation on the Effects of Federal Financial Aid: Mises.org/HAP474aThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 11/16/2024 | Free | View in iTunes |
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How Can Mining Asteroids in the Future Make Us Richer Today? | After explaining the backstory of how Bob put forth a proposal for codifying property rights in space-based resources, Bob then explains how the prospect of a future inflow of extraterrestrial riches could boost the standard of living on Earth in the near term. Bob Murphy Show, "Scott Horton on American Interference in the 1996 Russian Election": Mises.org/HAP473aThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 11/8/2024 | Free | View in iTunes |
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Unpacking Mises: Fractional Reserve Banking and the Currency School | Mises Fellow Kristoffer Hansen joins Bob to discuss Mises' perspective on fractional reserve banking and free banking. Earlier this month, Larry White referenced Hansen’s work on fractional reserve banking, asserting that Hansen indicated Mises acknowledged the benefits of FRB. Kristoffer clarifies his paper and examines what Mises wrote in Human Action on the topic. Additionally, Bob and Kristoffer delve into the influence of the Currency School on banking and economic instability, as well as how commodity-backed money might impact the business cycle. Kristoffer's Article in the QJAE, "Sound Money without Free Banking": Mises.org/HAP472aKristoffer and Jonathan Newman's Article in the QJAE Clarifying Rothbard's Definition of Inflation: Mises.org/HAP472bHuman Action Podcast Episode 470 on the Debate Over Fractional Reserve Banking: Mises.org/HAP472cThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 11/1/2024 | Free | View in iTunes |
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Was Ricardo's Comparative Advantage Really Different From What Adam Smith Said About Foreign Trade? | In response to Murphy's recent article on comparative advantage, economist Jorge Morales Meoqui objected that Murphy was continuing the same erroneous story about Adam Smith vs. David Ricardo. In this episode, Murphy clarifies what is right and wrong in Meoqui's own paper on the topic. Jorge Morales Meoqui's Article on Comparative Advantage: Mises.org/HAP471aThe Bob Murphy Show, Episode 352 on Comparative Advantage: Mises.org/HAP471bBob's Article, "The Beauty and Importance of Comparative Advantage": Mises.org/HAP471cThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 10/26/2024 | Free | View in iTunes |
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What Was Mises's Position on Fractional Reserve Banking? | Murphy lays out the various camps in the debate over FRB. He endorses the view of Joe Salerno, namely that Mises favored "free banking" as the best means for limiting credit expansion and ensuring banks carry high reserve ratios. Bob's Article in the QJAE on Fractional Reserve Banking: Mises.org/HAP470aJoe Salerno, "Ludwig von Mises as Currency School Free Banker": Mises.org/HAP470bThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 10/18/2024 | Free | View in iTunes |
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Philipp Bagus on the Flaws in the "Real Bills" Doctrine | Dr. Philipp Bagus explains the main ideas from his new book, Full Reserve Banking versus the Real Bills Doctrine, which defends Misesian business cycle theory from a recent critique. Bagus provides an in-depth criticism of the Real Bills Doctrine, emphasizing the importance of real savings in economic stability. He defends full reserve banking and critiques fractional reserve systems for creating money without real economic backing, leading to inflation and business cycles. Full Reserve Banking versus the Real Bills Doctrine: Mises.org/HAP469aBob's Study Guide to The Theory of Money and Credit: Mises.org/HAP469bPhilipp Bagus, "Entrepreneurial Error Does Not Equal Market Failure" Mises.org/HAP469cThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 10/11/2024 | Free | View in iTunes |
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Paul Cwik's New Introduction to Austrian Business Cycle Theory | Paul Cwik revisits the podcast to explain his new book, which aims to simplify ABCT for economics students and professors, especially those teaching at the principles level. Dr. Cwik critiques mainstream economic theories for oversimplifying business cycles, arguing that the Austrian theory better explains systemic errors and the boom-bust cycle driven by distorted interest rates. Dr. Cwik's New Book, Austrian Business Cycle Theory: An Introduction: Mises.org/HAP468aRoger Garrison's Famous Lecture, "The Austrian Theory of the Business Cycle": Mises.org/HAP468bRichard Ebeling's Monograph, The Austrian Theory of the Trade Cycle: Mises.org/HAP468cCarilli and Dempster, "Expectations in Austrian Business Cycle Theory: An Application of the Prisoner’s Dilemma": Mises.org/HAP468dThe Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 10/4/2024 | Free | View in iTunes |
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Tom Luongo on the Rival Factions Among Bankers | Donate $5 today to support our Fall Campaign and receive a physical copy of Anatomy of the State: Mises.org/HH5 Tom Luongo hosts the Gold, Goats, 'n Guns podcast and newsletter. He explains the different factions among bankers, including rivalries between New York and San Francisco, and the US versus Europe. Read More from Tom Luongo: Mises.org/HAP467a | 9/28/2024 | Free | View in iTunes |
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Has "Neo-Liberalism" Failed in the United States? | Donate $5 today to support our Fall Campaign and receive a physical copy of Anatomy of the State: Mises.org/HH5 David R. Henderson is a research fellow with the Hoover Institution at Stanford University. He joins Bob to critique a recent Brad DeLong essay, which argued that the US had tried an experiment in "neo-liberalism" and that it failed utterly. DeLong's Article, "America Has No Alternative to Industrial Policy": Mises.org/HAP466aHenderson's Critique of DeLong's Article: Mises.org/HAP466bBob's Journal Aritcle on 1970s Crude Oil Price Controls: Mises.org/HAP466cSubscribe to David's Substack, "I Blog to Differ": Mises.org/HAP466d | 9/20/2024 | Free | View in iTunes |
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How Government Propped Up Slavery | In this episode of the Human Action Podcast, Bob welcomes guest Joshua Mawhorter to discuss his recent article on the role of government in sustaining slavery. The conversation covers several key points, including slave patrols, fugitive slave laws, manumission restrictions, and constitutional subsidies. Mawhorter argues that slavery persisted largely due to government intervention rather than free-market mechanisms and highlights the inefficiencies and extensive costs associated with maintaining the institution. They also touch on modern discussions of reparations and the historical patterns of slavery's abolition in other countries. Josh's Mises Wire Article, "Governments Had a Major Role in Sustaining Slavery": Mises.org/HAP465aMark Thornton, "Slavery, Profitability, and the Market Process": Mises.org/HAP465bJeffrey Hummel, "The Political Economy of Slavery, Secession, and Emancipation": Mises.org/HAP465cJeffrey Hummel, "U.S. Slavery and Economic Thought": Mises.org/HAP465dAlan Olmstead, "Cotton, Slavery, and the New History of Capitalism": Mises.org/HAP465eRegistration for the 2024 Mises Institute Supporters Summit is open for Mises Members: Mises.org/SS24 | 9/14/2024 | Free | View in iTunes |
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The Origin of Money: Menger vs. Graeber | Bob goes solo to explain the contributions of Carl Menger and Ludwig von Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus. Bob's Article, "Origin of the Specie": Mises.org/HAP464aR. A. Radford, "The Economic Organisation of a P.O.W": Mises.org/HAP464bBob's Book, Understanding Money Mechanics: Mises.org/HAP464cGet your ticket to Living Free in an Unfree World in Albuquerque, New Mexico: Mises.org/NM24 | 9/6/2024 | Free | View in iTunes |
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Does Advanced Econ Justify Kamala Harris on Price Gouging? | Dr. Jonathan Newman joins Bob to analyze Kamala Harris's proposals against price gouging, and how some mainstream economists defend Government price controls. They also address misconceptions about price gouging and the evolving mainstream narrative on inflation. Bob's Article on Harris's Anti-Price Gouging Proposals: Mises.org/HAP463aThe Boston Globe Article Supporting Harris's Proposal: Mises.org/HAP463bFor the week only, get a FREE copy of Dr. Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 8/30/2024 | Free | View in iTunes |
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The Classical Economists’ Theory of Value Was More Sophisticated than You Think | Bob quotes from David Ricardo to show that the classical economists understood that utility was essential to explaining market value, but then he also explains why the Marginalist Revolution was a scientific advancement. Bob's Journal of Libertarian Studies Article on The Labor Theory of Value: Mises.org/HAP462aHuman Action Podcast Episode 460, "What Does Say’s Law Really Say?": Mises.org/HAP462bDavid Ricardo, On the Principles of Political Economy and Taxation: Mises.org/HAP462cFor the next two weeks only, get a FREE copy of Dr. Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 8/23/2024 | Free | View in iTunes |
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The Collapse of the Yen Carry Trade: Impending Recession? | With recent market turbulence and new potential recession indicators emerging, Peter St. Onge joins Bob to examine whether market performance accurately reflects the true state of economic health. There is rising debt, growing entitlements, and ongoing structural issues within the US economy, Bob and Professor St. Onge analyze how these factors contribute to our current economic landscape and whether recent developments are indicative of a 1987-style crash or a 2008-style crash. They also explain the Japanese carry trade, its impact on the dollar and Japanese markets, and the recent market fluctuations, including the significant decline in the Japanese stock exchange and the S&P 500. Dr. St. Onge, "Is it Black Monday or Another 2008?": Mises.org/HAP461aThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 8/16/2024 | Free | View in iTunes |
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What Does Say’s Law Really Say? | Bob goes solo to give the historical context and true meaning behind "Say's Law," as well as the caricature presented by Keynesian critics. J.B. Say's A Treatise on Political Economy: Mises.org/HAP460aJames Mill, "On the Overproduction and Underconsumption Fallacies": Mises.org/HAP460bThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 8/9/2024 | Free | View in iTunes |
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Does Austrian Business Cycle Theory Help the Investor? | Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory. Mises University is the world’s leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream Dr. Thornton’s Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459aThe Skyscraper Curse: Mises.org/HAP459bDr. Thornton's Article From 2004 on the Housing Market: Mises.org/HAP459cThe Inverted Yield Curve from Understanding Money Mechanics: Mises.org/HAP459dBob’s Econlib Article on Fiscal Austerity and Tax Rates: Mises.org/HAP459eJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24 The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 8/4/2024 | Free | View in iTunes |
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How Economists Evaluate Tariffs Versus Income Taxes | Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes. This is relevant because the populist Right is arguing for a hike in tariffs to fund income tax cuts. Bob's Article, "Carbon Taxes and the 'Tax Interaction Effect'": Mises.org/HAP458aTrump-Biden Tariff Tracker: Mises.org/HAP458bBob and Dave Smith on Open Borders: Mises.org/HAP458cFrédéric Bastiat's Candlestick Makers' Petition: Mises.org/HAP458dJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24 The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 7/27/2024 | Free | View in iTunes |
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Does the Fed Push Interest Rates Down? History Says Yes | Jason Purcell is an analyst at a major financial institution with a specialty in bond analysis. He joins Bob to discuss his historical analysis of yield curves (in both UK and US) going back to the 1870s, which shows that central banks do indeed manipulate short-term interest rates. Bob's Article on the Inverted Yield Curve: Mises.org/HAP457aGoerge Selgin's Cato Article on the Fed: Mises.org/HAP457bThe Charts Referenced in this Episode: Mises.org/HAP457cJason's Twitter: Mises.org/HAP457dPurcell Investment Research: Mises.org/HAP457eRead More on Jason's Substack: Mises.org/HAP457fJoin us in Fort Myers, Florida, on November 9, 2024, to cut through the political noise and discuss the state of the economy. Distinguished speakers Tom DiLorenzo, Mark Thornton, and Murray Sabrin will challenge prevailing economic myths and take a critical look at the US political theater, offering insights into how political interventions distort our economy. It’s an opportunity to move beyond partisan rhetoric and examine the way the government affects our lives and livelihoods. Register now: Mises.org/FtMyers24 The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 7/20/2024 | Free | View in iTunes |
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Mosler Is Wrong, Interest Rate Hikes Don't Cause Inflation | Bob critiques MMT godfather Warren Mosler's recent interview on the Odd Lots podcast, where Mosler argued that the Fed rate hikes have been fueling the strong economy. Bob's Critique of Stephanie Kelton's MMT Documentary: Mises.org/HAP456aJoin us in Fort Myers, Florida, on November 9, 2024, to cut through the political noise and discuss the state of the economy. Distinguished speakers Tom DiLorenzo, Mark Thornton, and Murray Sabrin will challenge prevailing economic myths and take a critical look at the US political theater, offering insights into how political interventions distort our economy. It’s an opportunity to move beyond partisan rhetoric and examine the way the government affects our lives and livelihoods. Register now: Mises.org/FtMyers24 The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 7/12/2024 | Free | View in iTunes |
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Tackling More of Robert Reich’s 'Economic Myths' | Are wealthy people getting wealthier because they work harder? Dr. Jonathan Newman is back on the show to discuss Robert Reich's latest videos about debunking economic myths. Robert Reich incorrectly blames the free market when businesses act on incentives provided by the government. He condenses this information into short, impactful videos for his audience. However, most of what Reich talks about isn't really economics. And when he does discuss economics, he relies on flawed assumptions that have been meticulously refuted over the past century. Bob and Dr. Newman dissect the misconceptions and provide some insights. Robert Reich's "Debunking Economic Myths" Episode 3: Mises.org/HAP455aRobert Reich's "Debunking Economic Myths" Episode 4: Mises.org/HAP455bDr. Newman's Post on Reich's Episode 5: Mises.org/HAP455cJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24 The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 7/5/2024 | Free | View in iTunes |
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Why Assange Was Released | Kyle Anzalone from AntiWar.com and the Libertarian Institute joins Bob to discuss the timeline of Wikileaks and why the US government disliked Julian Assange. This week, Assange was offered his freedom in exchange for admitting to espionage charges, but what exactly did he do? And how can the US prosecute Assange when he is not a US citizen? Bob and Kyle review the facts, including how Wikileaks began, the information they leaked, and the reasons behind Julian Assange's arrest. Kyles Article on AntiWar.com: Mises.org/HAP454aKyle's Libertarian Institute Page: Mises.org/HAP454bJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24 The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 6/28/2024 | Free | View in iTunes |
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Why the Scottish "Free Banking" Episode Doesn't Justify Fractional Reserves | Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios. Reason Debate Between Bob and George Selgin: Mises.org/HAP453aGeorge Selgin Interview on Free Banking: Mises.org/HAP453bSelgin's Response to Bob on Twitter: Mises.org/HAP453cRothbard's Economic Controversies: Mises.org/HAP453dJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24 The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 6/21/2024 | Free | View in iTunes |
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Tackling Robert Reich's First Two "Economic Myths" | In a new YouTube series, former US Secretary of Labor Robert Reich promises to explode ten "economic myths." Jonathan Newman joins Bob to respond to the first two episodes in the series, regarding whether economics is an objective science, and whether government intervention interferes with a free market. Robert Reich's 'Debunking Economic Myths' Series: Mises.org/HAP452aBob's JLS Article on Kevin Carson's Studies in Mutualist Political Economy: Mises.org/HAP452bDr. Newman Debunking Robert Reich's First Myth: Mises.org/HAP452cDr. Newman Debunking Robert Reich's Second Myth: Mises.org/HAP452dThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 6/14/2024 | Free | View in iTunes |
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Is the Dollar the Global Reserve Currency Because There Is No Better Alternative? | Economics researcher Joakim Book joins Bob to discuss his recent article on the dollar's international dominance at the American Institute for Economic Research. US Sanctions incentivize foreign governments to find alternatives to the dollar, but none have successfully escaped Washington's grip. Joakim argues that alternative payment systems are in the works, but even international banking transactions still use US banking systems. How much longer will the US dollar be the king currency? Why aren't foreign Governments fleeing to BTC and Gold? Bob and Joakim discuss. Joakim's Article at the AIER: Mises.org/HAP451aThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree | 6/7/2024 | Free | View in iTunes |
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Would Ending the Fed Cause a Depression? | Jonathan Newman returns to help Bob dissect a Twitter thread melting down about Rep. Massie's new bill to End the Fed. The X thread discussing the "End the Fed Bill": Mises.org/HAP450aSelgin, Lastrapes, and White, "Has the Fed Been a Failure?": Mises.org/HAP450bBob's Article, "Putting the Country Back on Gold": Mises.org/HAP450cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/Money Human Action Podcast listeners can get a free book: Mises.org/HAPodFree | 6/1/2024 | Free | View in iTunes |
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Garett Jones on the Economic Impact of Culture on Immigration | Garett Jones is Associate Professor of Economics at the Mercatus Center at George Mason University. He joins Bob to discuss his book, detailing the impact that immigrants' culture has on the institutions of their new home. Professor Jones' New Book, The Culture Transplant: Mises.org/HAP449aThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/Money Human Action Podcast listeners can get a free book: Mises.org/HAPodFree | 5/24/2024 | Free | View in iTunes |
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Mateusz Machaj on Economists and Inflation | Mateusz "Matt" Machaj holds a PhD in economics and is a Fellow with the Mises Institute, who has also won both the Douglas E. French and the Lawrence Fertig prizes in Austrian economics. He joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation. Dr. Machaj's Monetary Policy and Inflation: Mises.org/HAP448aBob's Book on MMT, Understanding Money Mechanics: Mises.org/HAP448bBob's MisesU Lecture, "Price Inflation: Corona vs. QE": Mises.org/HAP448cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/Money Human Action Podcast listeners can get a free book: Mises.org/HAPodFree | 5/17/2024 | Free | View in iTunes |
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An Austrian Critique of the New MMT Documentary | Stephanie Kelton is the star of a new documentary film touting the alleged brilliance of Modern Monetary Theory (MMT). Murphy gives a comprehensive critique of the film, covering the flaws in its theory, history, and policy recommendations. Finding the Money Documentary: Mises.org/HAP447aBob's Book on MMT, Understanding Money Mechanics: Mises.org/HAP447bRadford's Paper on P.O.W. Camps: Mises.org/HAP447cThe Upside-Down World of MMT: Mises.org/HAP447dBob's Article on Debt and Future Generations: Mises.org/HAP447eBob's Article on The Origin of Specie: Mises.org/HAP447fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/Money Human Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree | 5/10/2024 | Free | View in iTunes |
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How State-Sponsored Universities Distort Campus Activism | The Mises Institute's Connor O'Keeffe recently wrote an article detailing the campus protests over the happenings in Gaza. Connor joins Bob to discuss his article, the recent antisemitism bill, and why we should be defunding universities. Connor's Article on the Campus Protests: Mises.org/HAP446aHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree | 5/4/2024 | Free | View in iTunes |
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Did the MMT Camp Correctly Predict the Post-Covid Economy? | Recently on Twitter, as a reaction to an FT post worrying about the growing debts of various governments, fans of MMT were posting screenshots from a May 2020 FT debate involving Stephanie Kelton. The implication was that Kelton had correctly predicted that government debt would be benign. Bob and guest Jonathan Newman dissent. Stephanie Kelton and Edward Chancellor's Debate on Government Debt: Mises.org/HAP445aMartin Wolf's Article on Government Debt: Mises.org/HAP445bBob's Debate with Warren Mosler on MMT: Mises.org/HAP445cBob and Jonathan's Episode on Price Inflation: Mises.org/HAP445dBob's Article on the Economic Outlook for the US: Mises.org/HAP445eHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree | 4/26/2024 | Free | View in iTunes |
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FDR's War Against Civil Liberties | Historian David Beito has a new book from the Independent Institute titled, "The New Deal's War on the Bill of Rights." He joins Bob to discuss issues such as the Japanese concentration camps and the government's mass surveillance of telegrams. David's new book, The New Deal's War on the Bill of Rights: Mises.org/HAP444aHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree | 4/19/2024 | Free | View in iTunes |
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Simon Guenzl vs. Dave Smith on Open Borders | Simon Guenzl joins Bob to push back on Dave Smith's recent appearance, where Dave had made the case against open borders. Guenzl has published a libertarian critique of the Hoppean framework. The debate revolves around the status of government property. Bob plays devil's advocate, especially with a lightning round of "hard cases" for Guenzl at the end. Simon's paper, "Public Property and the Libertarian Immigration Debate" in Libertarian Papers: Mises.org/HAP443aDave Smith on Open Borders: Mises.org/HAP443bBob on Blockades and Immigration in a Voluntary Society: Mises.org/HAP443cHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree | 4/12/2024 | Free | View in iTunes |
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Are American Libertarians Unduly Pessimistic? | Nick Gillespie, editor-at-large for Reason, recently got into a friendly dispute with Bob over whether American libertarians were being too pessimistic. He joins Bob to make the case for optimism, while Bob demurs. Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree | 4/5/2024 | Free | View in iTunes |
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Making the Case for Private Law and Defense From Scratch | On March 26 Bob gave this talk at Oklahoma State, where he was invited by the Free Enterprise Society. He assumed the students had no prior knowledge of the topic and made the case, from scratch, for a voluntary society with privately provided legal and defense services. Bob's article, "Libertarian Law and Military Defense" in Libertarian Papers: Mises.org/HAP441aHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree | 3/29/2024 | Free | View in iTunes |
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Ryan McMaken on the History and Benefits of Secession | Ryan McMaken recently gave a talk at Oklahoma State outlining the history of secessions and making the case that they promote liberty and peace. He joins Bob to discuss his major themes and to address common objections. Ryan's Talk at Oklahoma State: Mises.org/HAP440aBreaking Away: The Case for Secession: Mises.org/HAP440bHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human Action Conference: Mises.org/HARaffle | 3/23/2024 | Free | View in iTunes |
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Why We Don't Need Government Funding for "Moonshots" | Christian Sandström is a Swedish economist who joins Bob to discuss his new (co-edited) book, which makes the case that massive government funding projects aren't necessary to promote science or industrial growth. Dr. Sandströmm's Moonshots and the New Industrial Policy: Mises.org/HAP439aHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human Action Conference: Mises.org/HARaffle | 3/15/2024 | Free | View in iTunes |
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Tom DiLorenzo on Antitrust, Abe Lincoln, and the Future of the Austrian School | Tom DiLorenzo spent a long and productive career in academia before assuming his current position as president of the Mises Institute. He joins Bob to discuss his early days getting into economics, and some of his important work on antitrust policy. He also discusses his popular books on Abraham Lincoln. Though it all, Tom stresses the importance of the Austrian viewpoint. Tom's Paper on the Origins of Antitrust: Mises.org/HAP438aNullification: An Interview with a Zombie: Mises.org/HAP438bHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human Action Conference: Mises.org/HARaffle | 3/8/2024 | Free | View in iTunes |
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The Fed's Milkshake Brings All the Foreigners to the Yard | Brent Johnson of Santiago Capital created the "dollar milkshake" theory, which says that in a global sovereign debt crisis, the USD, gold, and US stock market will all rise. He joins Bob for a friendly disagreement over the dynamics of a decline in foreign demand to hold USD. The ZeroHedge Debate: Mises.org/HAP437aBob's Post-Game Analysis of the Debate: Mises.org/HAP437bBrent Johnson Explains The Dollar Milkshake Theory: Mises.org/HAP437cBob's Article, 'What Does "Debt-Based" Money Imply for Interest Payments?': Mises.org/HAP437dHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human Action Conference: Mises.org/HARaffle | 3/1/2024 | Free | View in iTunes |
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Does Libertarianism Require Support for Open Borders? | Dave Smith makes the Rothbardian/Hoppean case for government restriction on immigration, arguing that it's a second-best solution given the undeniable fact of government control of "public" property. Bob plays devil's advocate to raise possible objections to Dave's framework. Rothbard, "Nations by Consent": Mises.org/HAP436a Hans-Hermann Hoppe, "On Free Immigration and Forced Integration": Mises.org/HAP436b Bryan Caplan, "A Radical Case for Open Borders": Mises.org/HAP436c Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human Action Conference: Mises.org/HARaffle | 2/22/2024 | Free | View in iTunes |
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Murphy Gives Post-Game Analysis of ZeroHedge Dollar Debate | On February 13, 2024, Bob participated (with Jim Rickards, Brent Johnson, and Michael Every) in a ZeroHedge debate on the fate of the USD. In this episode of the Human Action podcast, Bob highlights some of the key issues and explains why he thinks his side won. The ZeroHedge Debate: Mises.org/HAP435a Brent Johnson's Milkshake Theory: Mises.org/HAP435b Egert's Article on the Public Debt Threshold: Mises.org/HAP435c Bob's Article on the Latest CBO Federal Debt Report: Mises.org/HAP435d Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree | 2/15/2024 | Free | View in iTunes |
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Responding to James Lindsay's Critique of "National Divorce" | Bob goes solo to give a point-by-point rebuttal to James Lindsay's recent essay arguing that "national divorce means national suicide." Bob argues that James employs inconsistent claims and ignores the tremendous economic boon to an independent Texas. James Lindsay's Article "National Divorce is National Suicide": Mises.org/HAP434a Bob's Book "Common Sense: The Case for an Independent Texas": Mises.org/HAP434b AntiWar.com Article on Gaza: Mises.org/HAP434c Scott Horton's Interview with Arnon Soffer: Mises.org/HAP434d Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree | 2/8/2024 | Free | View in iTunes |
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We Like Ike! Joe Salerno on Rolling Back the Ideology of Inflation | Academic VP of the Mises Institute, Joe Salerno, joins Bob to discuss his talk at the Supporters Summit, centering on the mainstream's focus on "rules vs. discretion" in monetary policy. Salerno explains how President Eisenhower's administration marked a pivot away from the ideology of inflation. Dr. Salerno's Talk at the 2023 Supporters Summit: Mises.org/HAP433a Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree | 2/1/2024 | Free | View in iTunes |
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Peter St. Onge On Who's Taking Your Money | Economist Peter St. Onge summarizes some of the major financial and government news stories of the day. Bob's Mises University Talk 'Price Inflation: Corona vs. QE': Mises.org/HAP432a Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 1/25/2024 | Free | View in iTunes |
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Are Capital Gains Income? The Connection with Mises’s Calculation Problem | Bob goes solo to discuss a recent Twitter controversy, in which opponents of a proposed tax argued that unrealized capital gains couldn't possibly be a form of income. Bob cites both Austrian theory and corporate accounting practice to respond that all capital gains are income, which is not to say that they ought to be taxed. The dispute is important because understanding the definition of "income" sheds light on the role of market prices in guiding entrepreneurial action. Bob Talks to David Schizer on the Moore Ruling: Mises.org/HAP431a Bob's Econlib Article on Capital and Income: Mises.org/HAP431b Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 1/18/2024 | Free | View in iTunes |
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Garett Jones on the Legacy of Robert Solow | Economic giant Robert Solow died in December 2023. He was a Nobel laureate, and four of his PhD students went on to also receive the Nobel. He is known for the growth model named in his honor. Garett Jones of GMU joins Bob to discuss the work of Solow, focusing on the possible tension between the Solow model's conclusions about capital accumulation vis-à-vis the Austrian School. Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 1/11/2024 | Free | View in iTunes |
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Murray Sabrin on Our Broken Medical System | Murray Sabrin joins Bob to discuss his upcoming online course on the economics of the US healthcare system, including practical solutions. The course begins in mid-January 2024. Dr. Sabrin's New Online Course: Mises.org/HAP429a IPAK-EDU.org is offering the following discounts: 50% off until Jan 6th with code: COUNTMEIN 25% off after January 6th with code: JACKSAYS75 Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 1/4/2024 | Free | View in iTunes |
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Tyler Cowen on the GOAT in Economics | Tyler Cowen is Holbert L. Harris Chair of Economics and chairman of the Mercatus Center at George Mason University. With Alex Tabarrok, he runs the popular economics blog Marginal Revolution. Tyler joins Bob to discuss his latest book. Tyler's New Book for Free: Mises.org/HAP428aTyler's Blog: Mises.org/HAP428b Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission.Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 12/28/2023 | Free | View in iTunes |
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Dean Baker Debates Bob Murphy on Recession Outlook | On a recent installment of the Pynx debate series, Bob had a friendly debate with Dean Baker on a soft or hard landing in 2024. In this episode of the Human Action Podcast, Bob comments on the key disputes, underlying the differences between the Austrian and Keynesian frameworks. Bob's Debate with Dean Baker: Mises.org/HAP427a Bob's Paper on the Inverted Yield Curve: Mises.org/HAP427b Bob's Mises University Talk on Government Debt: Mises.org/HAP427c Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 12/21/2023 | Free | View in iTunes |
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Will Texit Be on the GOP Primary Ballot in 2024? | Daniel Miller, founder and president of the Texas Nationalist Movement, joins Bob to discuss the exciting developments in the push for a referendum on Texas secession. Daniel explains the prospects and then answers common objections to the idea. Daniel Miller's Website: Mises.org/HAP426a Bob's Pamphlet on Texas Independence: Mises.org/HAP426b Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 12/14/2023 | Free | View in iTunes |
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Krugman's Bag of Tricks | Ivory Tower economists continue to tell us that the US economy is booming, but consumers disagree. Paul Krugman has a new explanation for the economic gloom: Republicans. In a recent New York Times article, Krugman touts that partisanship and media bias drive a wedge between consumer sentiment and economic reality. But is this actually what’s going on? Dr. Jonathan Newman is back with Bob to break down Krugman's shifting economic predictions and to consider the trajectory of the US economy. Krugman's NYT Article from 2021 on Inflation: Mises.org/HAP425a Krugman's NYT Article on Begin Wrong About Inflation: Mises.org/HAP425b Jonathan and Bob's HAP Episode on The Fed's 'Soft Landing': Mises.org/HAP425c Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 12/7/2023 | Free | View in iTunes |
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The Treasury is Running Out of Creditors | The US Government will face another round of federal debt expansion in 2024, but will there be enough creditors to allow their continued spending? Investors are not buying Treasury Debt at forecasted rates, foreign investors are exiting federal debt, and even the Federal Reserve is reducing its treasury holdings. Dr. Jonathan Newman recently wrote for the Mises Wire on this topic, and he joins Bob to break down the data and explain what is up with treasuries and the future of the dollar. Dr. Newman's Article on The Treasury's Creditors: Mises.org/HAP424a Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 11/30/2023 | Free | View in iTunes |
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Co-Creator Explains Javier Milei's Plan to Abolish the Central Bank | Nicolás Cachanosky was a co-author on the dollarization proposal for Argentina that Javier Milei publicly endorsed. Nicolás explains to Bob the outlines of the proposal, which involves replacing pesos with USD for bank deposits, currency in circulation, and central bank liabilities. How to Dollarize Argentina: Mises.org/HAP423a Rear More from Nicolás: Mises.org/HAP423b The Human Action Podcast Episode with Peter Lewin: Mises.org/HAP423c Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 11/23/2023 | Free | View in iTunes |
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Murray Sabrin's Memoir: From Liberal Democrat to Libertarian Running for Governor of New Jersey | Murray Sabrin has a long history with the Austrian movement and is one of two people who had Murray Rothbard on his PhD committee. He talks with Bob about his memoir, From Immigrant to Public Intellectual: An American Story. Murray Sabrin's Substack: Mises.org/HAP422a From Immigrant to Public Intellectual: An American Story: Mises.org/HAP422b Rothbard's America's Great Depression: Mises.org/HAP422c Bob's Blog on the Distortion of Hoover: Mises.org/HAP422d The Mises Circle in Fort Myers: Mises.org/HAP422e Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree | 11/16/2023 | Free | View in iTunes |
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How Statism Leads to War | Mises' work explains how laissez-faire economies have incentives to be peaceful with each other, and how, inversely, tariffs and protectionism create isolation, instability, and war. His words are especially prescient today as conflicts rage and tensions between superpowers continue to rise—mirroring the rise in state power across the globe. Dr. Jonathan Newman joins Bob to break down the history of warfare, how states fund war, and why war is more destructive in the modern era. Dr. Newman's Article on the History of Warfare: Mises.org/HAP421a Dr. Murphy on Private Military Defense: Mises.org/HAP421b 'Free Trade vs. Protectionism' MisesU 2023 Lecture: Mises.org/HAP421c Bob and Jonathan's Talks from the Mises Circle in Fort Myers: Mises.org/HAP421d Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 11/9/2023 | Free | View in iTunes |
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A Nigerian Scholar Evangelizes Austrian Economics | "Econ Bro" (who wishes to remain anonymous) is a Nigerian scholar who realized the limits of his conventional economics training and then discovered the work of Murray Rothbard and other Austrians. He now seeks to help his country and the world by spreading the truth. Econ Bro's Article on The State as a Rejection of God Part 1: Mises.org/HAP420a Econ Bro's Article on The State as a Rejection of God Part 2: Mises.org/HAP420b Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 11/2/2023 | Free | View in iTunes |
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Responding to Yaron Brook's Critique of Anarcho-Capitalism | Recently Yaron Brook and Bryan Caplan debated the merits of anarchism at the Soho Forum. Bob critiques Brook's opening statement. The Soho Forum Debate: Mises.org/HAP419a Bob's Book on Market Anarchy, Chaos Theory: Mises.org/HAP419b Rothbard's Book on Natural Rights and the State, For a New Liberty: Mises.org/HAP419c Hans-Herman Hoppe's Book on Private Defense, The Private Production of Defense: Mises.org/HAP419d Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 10/26/2023 | Free | View in iTunes |
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The Male/Female Wage Gap and This Year's Nobel Laureate | Brian Albrecht joins Bob to discuss the work of this year's Nobel (Memorial) Prize Winner Claudia Goldin, with an emphasis on the male-female wage gap. Claudia Golden and Tyler Cowan Discuss The Gender Earnings Gap: Mises.org/HAP418a Claudia Golden's Paper on The Pill: Mises.org/HAP418b More Content from Brian: Mises.org/HAP418c Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 10/19/2023 | Free | View in iTunes |
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Diving Deeper into the Fed's Trillion Dollar Loss | Jonathan Newman rejoins Bob to explore more of the mechanics and political implications of the Fed's current state of insolvency. The Mercatus Article on Quantitative Easing: Mises.org/HAP417a Furman's Op-Ed in the WSJ: Mises.org/HAP417b Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 10/13/2023 | Free | View in iTunes |
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Inflation in Money or Prices? The Definition Matters | Andreas Granath is a recovering socialist who discovered the truth and beauty of Austrian economics and libertarianism. He joins Bob to discuss his recent article explaining the different definitions of "inflation" and why it matters. Andreas' Mises Wire Article on CPI: Mises.org/HAP416a The Silly IMF Tutorial on Inflation: Mises.org/HAP416b Bob's Mises University Lecture on Price Inflation: Mises.org/HAP416c Yaron Brook & Łukasz Dominiak Debate on Minarchy vs. Anarchy: Mises.org/HAP416d Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree | 10/5/2023 | Free | View in iTunes |
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How Is the Fed Insolvent and Why Should We Care? | Alex Pollock has decades of experience in financial markets, including a position as President of the Federal Home Loan Bank of Chicago. He explains to Bob the mechanics of the Fed's current insolvency and its implications for ordinary Americans. Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 | 9/29/2023 | Free | View in iTunes |
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Are Workers Being Paid Their Product? Watch Out for Misleading Charts | Dr. Jonathan Newman joins Bob to break down the data used in a popular productivity vs. pay graph. They show why you should be wary of charts coming from agenda-driven institutions and how you can spot manipulated data. The charts mentioned during this episode are available at: Mises.org/HAP414Charts Gene Epstein on the Bob Murphy Show: Mises.org/HAP414a The Economic Policy Institute 2022 Paper: Mises.org/HAP414b The Economic Policy Institute 2015 Paper: Mises.org/HAP414c Gene Epstein's Mises University 'Dirty Data' Lecture: Mises.org/HAP414d FRED Blog Post on the Chart and Price Indices: Mises.org/HAP414e Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 | 9/21/2023 | Free | View in iTunes |
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Why Plea Deals Are a Miscarriage of Justice | Lawyers for two of the Proud Boys convicted for their role in the January 6 assault on the Capitol are filing appeals claiming that they are being subject to a "trial tax," being punished for rejecting a plea deal offer. Bob uses the occasion to explain his long-standing objection to plea deals. Article on the 'Trail Tax' Imposed on the Proud Boys: Mises.org/HAP413a Ex-Proud Boys Leader Sentenced Despite Not Being in Washington on Jan. 6th: Mises.org/HAP413b Twitter Thread on Plea Deals and Justice: Mises.org/HAP413c Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 | 9/14/2023 | Free | View in iTunes |
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The Beltway Libertarians Are Too Smart for Oliver Anthony | Ryan McMaken joins Bob to discuss the surprisingly negative reaction (from a Reason writer and Tyler Cowen) to Oliver Anthony's hit song, "Rich Men North of Richmond." Ryan and Bob defend the lyrics, arguing that Anthony doesn't say anything objectionable from either a libertarian or economic perspective. Listen to Oliver Anthony's "Rich Men North of Richmond": Mises.org/HAP412a Christian Britschgi's article in Reason on Oliver Anthony: Mises.org/HAP412b Tyler Cowan's Bloomberg Editorial: Mises.org/HAP412c Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime. Use Code "HA23" for $45 off admission: Mises.org/Nashville23 | 9/7/2023 | Free | View in iTunes |
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Updating Böhm-Bawerk and Fixing Finance | Peter Lewin joins Bob to discuss his work with Nicolás Cachanosky on uniting Austrian capital theory with mainstream finance. Peter's New Book on Capital and Finance: Mises.org/LewinBook Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime. Use Code "HA23" for $45 off admission: Mises.org/Nashville23 | 8/31/2023 | Free | View in iTunes |
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Is China's Economy Hitting a Roadbump or Quicksand? | Peter St. Onge joins Bob to discuss his latest piece at Mises.org on "China's Doom Loop." They cover a wide range of topics, including the contrast in leadership between Xi Jinping and Deng Xiaoping, the dollar as global reserve currency, the Belt and Road Initiative, and Jim Rogers' prediction that the 21st century would belong to the Chinese empire. Peter's Article on China: Mises.org/HAP410a Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime. Use Code "HA23" for $45 off admission: Mises.org/Nashville23 | 8/24/2023 | Free | View in iTunes |
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Is the Fed Responsible for the Recent Surge and Fall in Price Inflation? | Jonathan Newman joins Bob to discuss the argument being put forth by Alan Blinder, James Galbraith, and other progressive economists, who claim that the Federal Reserve's rate hikes couldn't possibly be responsible for the quelling of consumer price inflation. Jonathan and Bob stress the important role of expectations as a "transmission mechanism" from Fed policy to impacts on prices. Galbraith's Article on the Fed's 'Soft Landing': Mises.org/HAP409a The Paper on the Forward Guidance Paradox That Mentions Krugman: Mises.org/HAP409b Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23 | 8/17/2023 | Free | View in iTunes |
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The Mirage of "Equal Pay" in Sports | Ryan McMaken joins Bob to discuss the recent US Women's World Cup elimination, and to dispel the myth that markets are discriminatory. After defending Megan Rapinoe's failed penalty kick, they dismantle her outspoken views on "equal pay" in sports, and examine the left's claim that law is required to fix prejudice in the labor market. Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23 | 8/10/2023 | Free | View in iTunes |
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Soft Landing? Not Likely | As Fed staffers no longer predict an impending recession, economists on social media are all assuring themselves that Americans are in store for a "soft landing." Mises Fellow Jonathan Newman joins Bob to explain why the data still support the case for recession and point out the eerie similarity to the calm before the storm in 2008. Robert Lucas' Nobel Prize Winning Lecture: Mises.org/HAP407a Bob's Eerie Article from 2007 on the Recession: Mises.org/HAP407b 'Bernanke Was Wrong' Compilation: Mises.org/HAP407c 'Peter Schiff Was Right' Compilation: Mises.org/HAP407d Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23 | 8/3/2023 | Free | View in iTunes |
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Everything You Need to Know About FedNow | David Brady, Jr. discusses his recent article at mises.org, in which he argues that the newly launched "FedNOW" system isn't a CBDC. Even so, there are dangers from FedNOW, such as exacerbating bank runs. David also explains the new Mises Apprenticeship program, of which he is a member. David's Article on Mises.org: Mises.org/HAP406a George Selgin Cato Article on FedNow: Mises.org/HAP406b Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23 | 7/27/2023 | Free | View in iTunes |
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How the Fed Could Bring in a CBDC Through the Back Door | George Gammon, host of the popular Rebel Capitalist show, warns that the Fed won't have to force the public to adopt a central bank digital currency (CBDC). Instead, the public might clamor for it, being promised safe, high-interest checking accounts at the Fed, just like Jamie Dimon. The Rebel Capitalist show: Mises.org/HAP405a Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23 | 7/20/2023 | Free | View in iTunes |
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Exposing the FBI Coverup of Biden Corruption | Robbie "The Fire" Bernstein is a co-host with Dave Smith of the popular podcast Part of the Problem, as well as his own podcast Run Your Mouth. He joins Bob to walk through the shocking and hilarious moves by Biden officials to downplay recent allegations of corruption. Find More from Robbie Including His Tour Dates: Mises.org/HAP404a $5.1M Payment to Biden Businesses: Mises.org/HAP404b Biden Attorneys on The Hunter WhatAspp Message: Mises.org/HAP404c Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23 | 7/13/2023 | Free | View in iTunes |
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MMT's Warren Mosler Argues Fed Rate Hikes Cause Growth and Inflation | Bob walks through a recent interview of MMT champion Warren Mosler, in which he claims that Fed rate hikes lead to larger government interest expenses and hence support economic growth and inflation. Bob presents both theoretical and empirical evidence against Mosler's claims. Bob's Debate with Warren Mosler: Mises.org/HAP403a Bob's Review of Stephanie Kelton: Mises.org/HAP403b Bob's EconLib Article on Austerity: Mises.org/HAP403c Technical Article on Why the Treasury Can't Overdraft: Mises.org/HAP403d Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23 | 7/6/2023 | Free | View in iTunes |
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The Impact of Falling M2 on Prices and Jobs | The Mises Institute's Executive Editor Ryan McMaken joins Bob to discuss his latest article, in which Ryan spells out the state of the M2 money supply and possible implications for consumer prices and an impending recession. Ryan's Mises.org article on M2: Mises.org/HAP402a Ryan's QJAE article on the inverted yield curve: Mises.org/HAP402b | 6/29/2023 | Free | View in iTunes |
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MMT Says Government Debt Makes Private Saving Possible | Mises Institute Fellow Patrick Newman joins Bob to discuss a recent tweet from Stephanie Kelton, which argued that the government's "red ink makes our black ink possible." Patrick and Bob point out that these MMT tautologies are very misleading at best. Patrick also lays out the argument in his journal article, saying that MMT's debt monetization won't cause a boom-bust cycle, but will still reduce living standards. | 6/22/2023 | Free | View in iTunes |
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Why ChatGPT Failed an Economics Exam | University of Rochester economist Steve Landsburg joins Bob to discuss the abysmal performance of ChatGPT on his undergraduate exam. They also discuss the importance of market prices in guiding behavior and the unexpected problems with the government handing out "free" goodies. Bob's article "Superman Needs an Agent:" Mises.org/HAP400a Steven's Book The Armchair Economist: Mises.org/HAP400b More Economic brainteasers: Mises.org/HAP400c | 6/15/2023 | Free | View in iTunes |
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Do Sticky Prices Make the Market Get Stuck? | Jonathan Newman joins The Human Action Podcast to discuss his recent Twitter controversy over the claim that market prices can be "wrong" (i.e. in disequilibrium) if they are "sticky." Jonathan Newman's Twitter controversy on sticky prices: Mises.org/HAP399a Joe Salerno on Mises's Monetary Theory: Mises.org/HAP399b Bagus and Howden on market disequilibrium and sticky prices: Mises.org/HAP399c | 6/8/2023 | Free | View in iTunes |
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Do People Value Money Because They Need It to Pay Taxes? | Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes. Per's QJAE article: Mises.org/HAP398a | 6/1/2023 | Free | View in iTunes |
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Fear-Mongering Over the Debt Ceiling | Heritage Fellow Peter St. Onge joins Bob to set the record straight on several popular talking points about the debt ceiling. Bob on selling Gov't resources to reduce the National Debt: Mises.org/HAP397a | 5/25/2023 | Free | View in iTunes |
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Remembering the Contributions of Lucas and Alchian | Bob originally invited Brian Albrecht (Chief Economist of the International Center for Law & Economics) to discuss the work of Armen Alchian, but on the day of recording, Robert Lucas happened to die. Bob and Brian discuss rational expectations, real business cycle theory, and how Alchian cracked the military's top secrets. Brian on Alchian's famous "Costs and Outputs" paper: Mises.org/HAP396a | 5/18/2023 | Free | View in iTunes |
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Does the Inverted Yield Curve Signal a Coming Recession? | Dr. Paul Cwik joins Bob to discuss the inverted yield curve's "signal" of an impending recession. Dr. Cwik's dissertation on inverted yield curves and economic downturns: Mises.org/HAP395a Bob on the link between inverted yield curves and recessions: Mises.org/HAP395b Bob's Understanding Money Mechanics: Mises.org/Mechanics | 5/11/2023 | Free | View in iTunes |
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Can Supercomputers Make Socialism Work? | Jonathan Newman joins Bob to critique a recent Twitter argument where some were claiming that supercomputers solved the socialist calculation problem. The Twitter thread on AI and Socialism: Mises.org/HAP394a Bob on Socialism and calculation vs knowledge: Mises.org/HAP394b Karras Lambert and Tate Fegley on economic calculation and AI: Mises.org/HAP394c | 5/4/2023 | Free | View in iTunes |
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The Economics of Space Travel | Are NASA contracts propping up the private space industry? Or are Government regulations stifling the private space race? Dr. Eli Dourado, Senior Research Fellow with the Center for Growth and Opportunity at Utah State University, joins Bob to discuss the recent "successful failure" of the exploded SpaceX launch and the differences between government and privately funded space travel. Dr. Dourado on NASA contracting private companies to build their shuttles: Mises.org/HAP393a Dr. Dourado on the Artemis moon program: Mises.org/HAP393b | 4/27/2023 | Free | View in iTunes |
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Will AI Steal Our Jobs (or End Us)? | Professor Per Bylund joins Bob to debunk the worries over AI and to question whether the latest version of chatbots should even be called "intelligent." Per on Robots Taking your Jobs: Mises.org/HAP392a | 4/20/2023 | Free | View in iTunes |
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Krugman Says It's Paranoid to Worry About a Fed Digital Currency | Jonathan Newman joins Bob to dissect Paul Krugman's latest NYT op-ed, in which he derides Ron DeSantis as paranoid for thinking a central bank digital currency (CBDC) could be used to control citizens. Krugman's op-ed in the New York Times: Mises.org/HAP391a Bob breaking down negative interest rates: Mises.org/HAP391b | 4/13/2023 | Free | View in iTunes |
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Jeff's Farewell To The Human Action Podcast | Jeff and Bob review the history and impact of The Human Action Podcast—formerly Mises Weekends—and discuss where the podcast is headed. Get Jeff's new book A Strange Liberty: Politics Drops Its Pretenses: Mises.org/Strange | 4/7/2023 | Free | View in iTunes |
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With the Feds, It's the Fox Guarding the Henhouse | Bob is joined by guest Peter St. Onge to discuss how SVB's CEO, as well as Bernie Madoff, had key positions advising the Fed and SEC. Then they discuss how we should think about central banks losing money. How the SEC was Charmed by Madoff: Mises.org/HAP389a Bob's Understanding Money Mechanics: Mises.org/HAP389b | 3/30/2023 | Free | View in iTunes |
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How Banking Could Work | With commercial banks exposed by the recent bailouts, Americans question whether “their money” is truly safe despite the promises of FDIC insurance. Jeff and Bob walk through the mechanics of how a full reserve bank could work in a truly free market based on the concepts and taxonomy of Mises’s Theory of Money and Credit. Mises's A Theory of Money and Credit: Mises.org/TMC Bob's study guide to A Theory of Money and Credit: Mises.org/HAP388a John Cochran, 'The Safest Bank the Fed Won't Sanction': Mises.org/HAP388b | 3/24/2023 | Free | View in iTunes |
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The Fed's Malfeasance after SVB | This past weekend saw extraordinary actions by the Fed to address the meltdown of Silicon Valley Bank. Did the central bank break the law by effectively authorizing unsecured loans to banks based on the face value—rather than significantly lower market value—of those banks' Treasury holdings? Bob's study guide to A Theory of Money and Credit: Mises.org/HAP387a Jeff on the Fed as the ultimate bank: Mises.org/HAP387b | 3/17/2023 | Free | View in iTunes |
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A Permanent Wartime Economy? | Progressives view all aspects of human life as a struggle against forces of oppression. Earlier this week on BBC, Professor Mariana Mazzucato suggested governments across the West should simply print money not only to help Ukraine, but also to finance other "wars" against climate change, inequality, and more. Should national treasuries essentially adopt a permanent wartime footing and print far more money, as Mazzucato and Warren Mosler recommend? Hint: Jeff and Bob say "No." Jeff's article "A Permanent Wartime Economy": Mises.org/HAP386a Bob's debate with Warren Mosler: Mises.org/HAP386b Bob's article in The American Conservative on the Greenbacker movement: Mises.org/386c | 3/9/2023 | Free | View in iTunes |
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Losing Control of Money | With global worldwide debt now over $300 trillion and interest rates rising, the US dollar is once again a relative safe haven in a slowing economy. Currencies competing with the Dollar face a deadly race to stave off a sovereign debt crisis. Is the dollar now unbound, as the dominant political tool of the dominant nation? The Dollar Milkshake Theory: Mises.org/HAP385a Thorsten Polleit, The Global Currency Plot: Mises.org/HAP385b Bob's book, Understanding Money Mechanics: Mises.org/Mechanics | 3/2/2023 | Free | View in iTunes |
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The Economics of National Divorce, Part II | Tom Woods joins the show for a look at the hottest political topic of the day, namely national divorce. This is a spirited discussion of the politics, economics, and mechanics of how America might break up. Watch "The Economics of National Divorce, Part I" with Ryan McMaken: Mises.org/HAP352 | 2/23/2023 | Free | View in iTunes |
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The Economics of American Gerontocracy | With Yale economics professor Yusuke Narita suggesting mass suicide—seppuku—as the answer to Japan's rapidly aging demographics, Jeff and Bob take a hard look at the economics and humanity of greying America. Richard Hanania, "Gerontocracy Versus Western Civilization": Mises.org/HAP383a Bob on opting out of Social Security: Mises.org/HAP383b | 2/16/2023 | Free | View in iTunes |
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ESG and DEI are Worse Than You Think | Mises Institute scholar and Troy University business school Dean Allen Mendenhall is among the leading critics of woke capital. He leads a new initiative against the perverse investment practices demanded by ESG/DEI commissars, and joins Jeff Deist to discuss both the origins of "stakeholder" capitalism and what we can do to push back against ideological purity tests in capital markets and corporate America. AllenMendenhall.com "Troy University tackles 'woke' business practices head-on with new program": Mises.org/HAP382a | 2/9/2023 | Free | View in iTunes |
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Why This Recession is Different | Back in January Jeff Deist joined the Austrian Economics Discord Server for a live event concerning trends in 2023. Jeff makes the case for viewing today's economy as quite unlike that of 2007—due to steady increases in CPI, more fiscal stimulus relative to monetary stimulus, and ongoing supply shock issues from COVID. This is a far-ranging discussion of the landscape for the Fed, persistent inflation, and a looming recession. Includes Q and A from the audience. | 2/2/2023 | Free | View in iTunes |
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Is Economics a Dead Discipline? | Professor Per Bylund of Oklahoma State University, author of How to Think About the Economy joins Jeff and Bob to dissect how economics went so badly wrong. A discipline rooted in theory, axioms, and deduction has devolved into statistics, models, and hard science envy. Is the economics profession doing any good, or active harm? Per's new book How to Think About the Economy: Mises.org/Primer Gary North and Walter Block debate "Is it Smart to Get a PhD in Economics": Mises.org/HAP380a | 1/26/2023 | Free | View in iTunes |
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Davos: Has Globalism Peaked? | Jeff and Bob break down this week's Davos WEF conference and consider whether global elites really have the mechanisms to impose their plans. Johnny Vedmore's analysis of Schwab's origins: Mises.org/HAP379a Scott Greer says America's right-want needs to stop dwelling on Schwab: Mises.org/HAP379b Schwab bragging about penetrating Cabinets: Mises.org/HAP379c | 1/19/2023 | Free | View in iTunes |
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Dr. Peter Klein on the Disconnect in Labor Markets | Dr. Peter Klein, professor of entrepreneurship at Baylor University and co-author of the new book Why Managers Matter, joins Jeff and Bob to explain the huge disconnect between supply and demand for labor in post-COVID America. Dr. Klein's new book Why Managers Matter: Mises.org/HAP378a | 1/12/2023 | Free | View in iTunes |
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How FedGov Destroyed the Housing Market | There is no real housing market in the US. Instead, an unholy trinity of Fannie/Freddie, the US Treasury, and the Federal Reserve Bank operate to distort the market at every turn and drive home prices up dramatically. Mises Institute Senior Fellow Alex Pollock, an economist and former mortgage banker, joins Jeff to describe the reality few Americans know. Alex Pollock's new book Surprised Again: The Covid Crisis and the New Market Bubble : Mises.org/HAP377a Alex Pollock on how the Fed became the world's biggest S&L: Mises.org/HAP377b | 1/5/2023 | Free | View in iTunes |
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133 |
The Human Action Podcast Predictions for 2023 | Bob and Jeff make their provocative 2023 predictions for the economy, the Fed, politics, world events, and cultural issues. | 12/29/2022 | Free | View in iTunes |
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134 |
Jeff Deist on What 2023 Portends | This week's show features a bare-knuckle discussion between Jeff and José Niño of "El Niño Speaks" on the biggest political, economic, and cultural events of 2022—and what they portend for 2023. You don't want to miss Jeff's unvarnished thoughts on the Left, the Right, the economy, and what is sure to be a turbulent New Year. Read José's Substack: josbcf.substack.com | 12/22/2022 | Free | View in iTunes |
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135 |
The Decline of Public Intellectuals | Does 2022 America still have legitimate intellectuals? Professor Paul Gottfried joins Jeff and Bob to consider the state of real and pseudo-intellectualism. | 12/15/2022 | Free | View in iTunes |
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136 |
Are Capital Markets Corrupt? | Hunter Hastings of Economics for Business joins Jeff for a thoroughgoing discussion of how monetary and fiscal policy distort capital markets and create perverse incentives for financialization rather than real production. Jeff Deist, "Does M&A benefit the economy?": Mises.org/HAP373-A Rothbard's America's Great Depression: Mises.org/AGD The Economics for Business Podcast: Mises.org/E4Bpod | 12/8/2022 | Free | View in iTunes |
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137 |
The Bad Economics of Twitter | Jeff and Bob break down the good, bad, and ugly behind Elon Musk's purchase of Twitter. | 12/1/2022 | Free | View in iTunes |
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138 |
Can We Fix the Economy? | Jeff and Bob record a special Thanksgiving episode for Money Talk 1010 AM on what it really takes to fix the US economy. Mark Thornton on the coming economic crisis: Mises.org/HAP371A Listen to Jeff on Money Talk 1010 every Thursday at 9:00am ET: Mises.org/MoneyTalk | 11/23/2022 | Free | View in iTunes |
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139 |
Will the FTX Scandal Bring Down "Crypto"? | Jeff and Bob discuss whether the FTX scandal will be used to justify new "crypto" regulations or even the creation of a central bank digital currency. Caitlin Long and Sam Bankman-Fried debating leveraging Bitcoin: Mises.org/HAP370A Mises on circulation credit vs. commodity credit: Mises.org/HAP370B President of the Minneapolis Fed Neel Kashkari on CBDCs: Mises.org/HAP370C | 11/17/2022 | Free | View in iTunes |
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Daniel McCarthy Dissects the Midterm Election | Daniel McCarthy joins Jeff and Bob to consider the deep unseriousness of American politics and electorate. Willmoore Kendall's The Conservative Affirmation: Mises.org/Kendall | 11/10/2022 | Free | View in iTunes |
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141 |
The Socio-Politics of the Midterms | Jeff joins Chris Casey of WindRock Wealth Management for a deep analysis of next week's punishing midterm elections. | 11/3/2022 | Free | View in iTunes |
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142 |
Words as Weapons | Criticisms of hapless Senate candidate John Fetterman are labeled "ableist," while Elon Musk's takeover of Twitter is deemed fascist. Jeff and Bob take a hard look at the linguistic battlefield and the corruption of language as an institution. Jeff's paper on language, "Evolution or Corruption?": Mises.org/HAP367-1 George Orwell's essay "Politics and the English Language": Mises.org/HAP367-2 Ken Smith's Junk English: Mises.org/HAP367-3 Bryan Caplan on "Privilege": Mises.org/HAP367-4 | 10/27/2022 | Free | View in iTunes |
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143 |
The Need for Beauty in Economics | Free Markets are often criticized for producing ugly, dystopian, consumer-driven landscapes, but is this true? Jeff explains how we need more than intellectual appeal to advance the cause of liberty—we need an appeal to beauty. Watch other talks from our 40th Anniversary Celebration: Mises.org/SS2022 | 10/20/2022 | Free | View in iTunes |
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144 |
Bernanke's Sordid Nobel Prize | Dr. Bob Murphy and Jeff Deist discuss the nauseating elevation of former Fed Chair Ben Bernanke to Nobel Prize winner. | 10/13/2022 | Free | View in iTunes |
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145 |
Toby Baxendale on the Coming Financial Repression | UK entrepreneur and founder of the Cobden Centre Toby Baxendale joins Bob to discuss meeting Hayek, the history of economists supporting 100% reserve banking, and the tools central banks and governments will use to enact "financial repression." | 10/6/2022 | Free | View in iTunes |
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146 |
The Economics of War | Daniel McAdams of the Ron Paul Institute joins Jeff and Bob to discuss the economic and political ramifications of the Nord Stream 2 pipeline sabotage. Read "The Economics of War" from Human Action: Mises.org/HAP363-1 Read a study Bob co-authored on Europe's energy crisis: Mises.org/HAP363-2 | 9/29/2022 | Free | View in iTunes |
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147 |
Daniel McCarthy on the Libertarian and Conservative Divide | Daniel McCarthy, editor of Modern Age, joins Jeff to consider the state of modern conservatism, modern libertarianism, and whether they can or cannot find common ground. Watch Daniel's talk at the LSC 2022: Mises.org/LSC22-McCarthy Read The Conservative Affirmation: Mises.org/HAP362-1 | 9/22/2022 | Free | View in iTunes |
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148 |
The Queen Is Dead, Democracy Is Dying | With Queen Elizabeth II lying in state at Westminster Hall, hereditary monarchies are under attack as archaic & absurd. Has mass democracy in the West done any better? Ryan McMaken joins Jeff and Bob to discuss. Read Ryan's Article on Monarchs: Mises.org/HAP361-1 Read Hoppe's Democracy: Mises.org/Democracy | 9/15/2022 | Free | View in iTunes |
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149 |
Inflation Kills | Bob and Jeff unravel the corrosive and nonsensical policy of "inflationism," and consider its deep cultural effects. Read Jeff's talk from the recent Ron Paul Institute conference: Mises.org/HAP360-1 | 9/8/2022 | Free | View in iTunes |
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150 |
Biden's Post-Persuasion America | Journalist Jordan Schachtel joins the show to discuss Biden's escalating rhetoric against what he terms "ultra-MAGA" semi-fascists. Is America finally past any pretense of democracy? | 9/1/2022 | Free | View in iTunes |
| 150 Items |
Customer Reviews
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Good, but…
Oddly, the guests on this program are not always or even usually announced by name in the podcast. Apparently a listing of the guests and topics are found elsewhere. But for people using their phones and subscribing to the podcast through iTunes or other services and listening while driving or walking their dogs, this is of little help. Sometimes the host will start the episode by referring to the guest by their first name only! For me this is a major obstacle to enjoying the show.
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