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The Human Action Podcast
The Human Action Podcast features in-depth interviews on current topics in economics through an Austro-libertarian lens.
4 days ago
MMT Explained with Dr. Robert Murphy
Do we fund government or does government fund us? Can sovereign states issue currency at will without risk of default? Are government deficits actually a form of public wealth? And can newly issued currency (rather than taxes or bonds) be used to pay for public works, health care, college, entitlements, and guaranteed jobs? These are the arguments made by Professor Stephanie Kelton in The Deficit Myth, the latest addition to the "Modern Monetary Theory" concept. If it sounds too good to be true, it is—and Dr. Murphy joins the show to explain why. Read Dr. Murphy's review of The Deficit Myth at mises.org/DeficitMyth
Nov 2, 2020
Jeff Deist on Hoppe's Democracy: The God That Failed
Why don't elections bring harmony and closure rather than ever greater political friction? Hans-Hermann Hoppe explained all of the fundamental problems with mass democracy more than 20 years ago in Democracy: The God That Failed. Jeff Deist finishes his series on this devastating classic with a look at Hoppe's final chapters, critiquing conservatism, liberalism, and constitutionalism. Why do both conservatism and liberalism fail? (hint: democratic mechanisms). Liberalism is property, not majority rule, and all governments tend to attack rather than defend property over time. So what is the best way forward, combining a liberal economic program with the old conservative understanding of natural order? And how do we get there? Don't miss this discussion of Hoppe's most controversial and forward-looking book. Use the code HAPOD for a discount on Democracy: The God That Failed from our bookstore: Mises.org/BuyHoppe
Oct 23, 2020
Hoppe's Democracy with Stephan Kinsella
Lawyer and libertarian theorist Stephan Kinsella joins the show to discuss the middle chapters of Hoppe's Democracy, The God That Failed—in particular dealing with "desocialization" of collective property, immigration, and free trade. These are the most controversial and widely-discussed parts of the book, and Kinsella provides a fascinating analysis of property vs. wealth, the problems with public ownership and forced integration, and the concept of rule-setting for state property. And don't miss the final part of the show for his explanation of "Hoppephobia." Kinsella's article on LewRockwell.com: "A Simple Libertarian Argument Against Unrestricted Immigration and Open Borders" Read Stephan Kinsella's Against Intellectual Property at Mises.org/KinsellaBook Use the code HAPOD for a discount on Democracy: The God That Failed from our bookstore: Mises.org/BuyHoppe
Oct 16, 2020
Hoppe's Democracy: The God That Failed
With an ugly presidential election just three weeks away, we dive into Hans Hoppe's classic Democracy: The God That Failed to puncture some of the myths surrounding democracy and voting. Jayant Bhandari joins the show to discuss Hoppe's controversial thesis concerning monarchy and democracy, time preference and its manifestation in the two systems, the forces constraining monarchs, and the terrible incentives created for democratic rulers. This is a must-listen show for anyone interested in Hoppe's most famous work and its application to the problems western states face today. Find more from Jayant Bhandari on his website (JayantGhandari.com) and his Twitter account (@JayantBhandari5). Use the code HAPOD for a discount on Democracy: The God That Failed from our bookstore: Mises.org/BuyHoppe
Oct 8, 2020
The Forgotten Hazlitt Book
Most of you know the great journalist Henry Hazlitt for his remarkable Economics in One Lesson. But in this episode, Jeff Deist discusses Hazlitt's virtually unknown 1942 book A New Constitution Now, which is nothing short of a how-to guide for remaking the US constitutional system. Hazlitt was concerned about FDR's third term and what it meant for presidential power, along with what he saw as the benefits of a quasi-parliamentary government for the US. This is a radical and controversial book, with detailed proposals and serious rebuttals to likely objections. It's a book that deserves a wider audience, especially by those frustrated with the two-party stranglehold on DC. Also, get your free copies of Economics in One Lesson at Mises.org/OneLesson.
Sep 30, 2020
Dr. Saifedean Ammous on His Upcoming Economics Textbook
Professor Saifedean Ammous, author of The Bitcoin Standard, is in the midst of writing a new textbook titled Principle of Economics. But he's writing it in open-source form: drafting, revising, and sharing the manuscript with his online students as the book is created. And unlike most lousy college economics textbooks, his offering is rooted in Austrian theory and contains numerous references to Menger, Böhm-Bawerk, Mises, Rothbard, and Hoppe. Academia is changing, and the way we learn is ripe for disruption. Dr. Ammous is at the fore of these changes, and you don't want to miss this show.
Sep 11, 2020
Man, Economy, and State: The Finale
We have reached the end of Murray Rothbard's definitive treatise Man, Economy, and State! Dr. Patrick Newman joins the show to wrap up the final chapters—labeled separately as Power and Market—showing Rothbard's economic analysis of government interventions. Newman and Jeff Deist discuss this quintessentially Rothbardian treatment of everything from price controls to taxes to subsidies to "public ownership," presented as always with clarity and devastating logic. Want to find out why the original publisher thought these concluding chapters were too hot for an economics treatise? Don't miss this episode! Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Bob Murphy's study guide to Man, Economy, and State: Mises.org/StudyMES Man, Economy, and State: Mises.org/MES
Aug 28, 2020
Patrick Newman on Rothbard’s Power & Market
Power and Market was never meant to be an addendum to Man, Economy, and State, but a vital part of the book’s unbridled economic analysis of a truly free market — and a searing new typology of interventionism. Dr. Patrick Newman joins the show for a fascinating look at Rothbard’s groundbreaking conceptual work in private defense, private courts, and the stark realities of political incentives. Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Bob Murphy's study guide to Man, Economy, and State: Mises.org/StudyMES Man, Economy, and State: Mises.org/MES
Aug 26, 2020
The Price of Tomorrow with Jeff Booth
By day Jeff Booth is an entrepreneur and builder of companies, but now he's written one of the most compelling and important books of 2020. The Price of Tomorrow: Why Deflation is the Key to an Abundant Future makes the case for a better and more prosperous world simply by accepting the natural order of falling prices and fast-improving technology. The book is entirely free of jargon, ideology, and politics, yet pulls no punches when it comes to describing the fiscal and monetary mess we're in. But it is an optimistic book, with a message for every worldview: deflation is a good thing, it is inevitable, and we should embrace it rather than fight it! Mr. Booth was kind enough to join the show, and has a fascinating discussion with Jeff Deist you don't want to miss!
Aug 21, 2020
Man, Economy, and State: Money & Its Purchasing Power with Robert Murphy
Economist Robert Murphy joins the show to cover Rothbard's excellent treatment of money in Chapter 11 of Man, Economy, and State. Dr. Murphy and Jeff cover why "hoarding" money is socially beneficial; why the velocity of money (and the famous MV=PT equation) is a useless concept, and how new money in society is never neutral. How and why does money maintain purchasing power, and does the interest rate really show the "price" of money? Why do we want "hard" money anyway? This is the show you need to better understand Rothbard's landmark exposition of money in an Austrian framework. Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Hans-Hermann Hoppe on Hutt's "The Yield from Money Held": Mises.org/HoppeHutt Bob Murphy's study guide to Man, Economy, and State: Mises.org/StudyMES Man, Economy, and State: Mises.org/MES
Aug 14, 2020
Man, Economy, and State: Monopoly with Dr. Walter Block
When Murray Rothbard wrote Man, Economy, and State in the 1950s, monopoly theory was a mess. Even Mises did not have a full understanding of where neoclassical economics went wrong in diagnosing "market failure." But in Chapter 10 of his great treatise, Rothbard demolished the myths surrounding monopolies and cartels. His friend Dr. Walter Block joins the show to discuss Rothbard's breakthroughs and draw downward-sloping demand diagrams for us! We discuss why deadweight loss is nonsense; why government privilege and forced union bargaining are the real culprits; and why cartels are inherently unstable. Even Google should not worry us, says Dr. Block—but with a caveat. Don't miss this show on groundbreaking Rothbardian monopoly insights! Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Dr. Joe Salerno's introduction to Man, Economy, and State: Mis…
Aug 1, 2020
Man, Economy, and State: Entrepreneurship and Change
The Human Action podcast with Jeff Deist continues tracking Rothbard's Man, Economy, and State, this time focusing on the role of entrepreneurs in the production process (Chapter 8). Hunter Hastings joins the show with great insights into the social benefits of profit vs. interest, entrepreneurial risk, progressing and retrogressing economies, and the bunkum known as the "Paradox of Saving." This chapter presents Rothbard's exposition of the individual's (or firm's) role in bringing goods and services to us—while Keynesian and classical economists see capital as a homogenous blog and try to wedge entrepreneurs into mathematical models. You'll also hear why Jeff Bezos is not the devil, why rich kids tend to waste the fortunes created by their parents or grandparents, and why Marx was dead wrong about the little guy. Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additi…
Jul 24, 2020
Man, Economy, and State: Interest Rates
Kristoffer Hansen joins the show to discuss everything about interest rates, as detailed by Rothbard in Chapter 6 of Man, Economy, and State. Hansen and Jeff Deist cover the "pure" rate of interest, expressed via time preference, and why the temporal nature of production helps us understand the premium for present goods relative to future goods. Far from exploiting workers or borrowers, capitalists actually advance money today in exchange for a more risky and uncertain return tomorrow—in the process making us all wealthier based on our individual subjective preferences. At every stage of production, interest helps producers get the capital they need now to bring us, the consumer, all the goods and services we enjoy. This show explains why we can't understand the productive economy without understanding interest rates. Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES A…
Jul 17, 2020
Man, Economy, and State with Shawn Ritenour
AOC and Paul Krugman are wrong: we can't just pay people money to stay home and expect "stuff" to materialize around us. This show explains why—as we cover Rothbard's Man, Economy, and State Chapter 5, "Production: The Structure," with our great friend Dr. Shawn Ritenour from Grove City College. Don't miss a great discussion of that critical missing link in mainstream economics—capital theory—and its corollaries, from the temporal and uncertain nature of production to cost fallacies. This show also features plenty of examples from today's economy and a short but dynamic exposition of the evenly rotating economy by Dr. Ritenour. Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Dr. Joe Salerno's introduction to Man, Economy, and State: Mises.org/SalernoMES Man, Economy, and State: Mises.org/MES
Jul 10, 2020
Man, Economy, and State: Exchange and Prices
Professor Jonathan Newman joins the show to discuss exchange and prices through the lens of Rothbard's Man, Economy, and State (chapters 2–4). This is vintage Rothbard: precise definitions; hardcore explanations of property, prices, and exchange; the problems of "hegemonic" state violence; and a "beautiful" (per Dr. Newman) conception of social cooperation. Menger and Mises are important in this discussion too, as Rothbard elaborates on the origins of money and the Regression Theorem. Don't miss this great show! Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Dr. Joe Salerno's introduction to Man, Economy, and State: Mises.org/SalernoMES Man, Economy, and State: Mises.org/MES
Jul 3, 2020
Man, Economy and State with Jeff Deist
Today's solo show kicks off our reading of Rothbard's landmark Man, Economy, and State with a look at Chapter 1, "Fundamentals of Human Action." So much of what economics texts get wrong is laid out brilliantly here by Rothbard, who gives readers the basics of action, means/ends, time, ranking, factors of production, and capital in this 77 page master class. The short appendix at the end of the chapter alone is a bombshell—demystifying the correct form for economic analysis, and explaining why psychology is not praxeology. Don't miss this introduction to the book you know you need to read! Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Man, Economy, and State: Mises.org/MES Bob Murphy's Study Guide to Man, Economy, and State: Mises.org/StudyMES
Jun 26, 2020
Why You Should Read Man, Economy, and State
Rothbard fans, this is the podcast you don't want to miss! Rothbard scholar Patrick Newman joins Jeff Deist to kick off a series of shows featuring Rothbard's landmark treatise Man, Economy, and State. They discuss the history and background behind this important book, how it changed the landscape, and why the concluding chapters titled "Power and Market" proved so controversial at the time–and remain so today! Dr. Newman calls Rothbard's opus "the best book I ever read," and makes a compelling case for lay readers like you to tackle it. Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Dr. Joe Salerno's introduction to Man, Economy, and State: Mises.org/SalernoMES Man, Economy, and State: Mises.org/MES
May 8, 2020
Human Action Part Seven with Tom Woods
We've reached the end of Human Action! Tom Woods joins the podcast to discuss Part Seven, "The Place of Economics in Society," and it's a show you don't want to miss. Woods and host Jeff Deist enjoy an engaging and far-ranging discussion of the book's place in history, Mises's frustration with economics co-opting the methods of physical sciences, and the public's seeming inability to overcome anticapitalist propaganda. Mises concludes his great treatise with unmatched clarity and wisdom, reminding us why economics belongs at the forefront of society—and why we all should retain our unwavering sense of élan vital. Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources The Sociology of the Development of Austrian Economics by Joe Salerno: Mises.org/SalernoHAP Mises's Élan Vital by Jeff Deist: Mises.org/Elan Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
May 1, 2020
Human Action Part Six with Jeff Deist
We continue our survey of Human Action by finishing up Part Six of the book, Mises's analysis of interventionism—or the so-called "third way" between capitalism and socialism. Mises exposes how state intervention in the market economy makes us all poorer, even while it claims to act against poverty and inequality on behalf of social justice. That perverse "justice" takes the form of currency manipulation, confiscation of land and capital, protectionism for syndicates and unions, and civilization-destroying total wars. This is a solo episode with Jeff Deist, who enjoys Mises's demolition of the hampered market economy masquerading as laissez-faire capitalism. Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
Apr 24, 2020
Human Action Part Six with Dr. Peter Klein
Professor Peter Klein from Baylor University joins the show to discuss Part Six of Human Action, where Mises presents his exposition of interventionism in all its manifestations. Mises breaks socialism down into Soviet and German versions; the first purely bureaucratic (state ownership) and the second nominally private but state-directed. He gives us a contrasting definition of laissez-faire, the choice of freedom over government omnipotence. Successive chapters take readers through taxation, restrictionism (tariffs, regulations, labor laws), and price controls (goods, wages, interest rates). Dr. Klein is a fascinating guest with great insights into Mises and "the Hampered Market Economy." This is a conversation you don't want to miss! Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
Apr 17, 2020
Human Action Part Five with Ryan McMaken
Ryan McMaken, an economist and editor of Mises.org, joins the show to consider Part Five of Human Action: "Social Cooperation without a Market." This section of the book provides Mises's updated exposition of socialism, the impossible project of substituting 'One Will' for the subjective actions and preferences of everyone in society. Mises gives us the history behind support for socialism, and the enduring appeal of ascribing the best intentions and omniscience to the central state. Can a socialist system really operate using the division of labor? Can mathematical equations lead us to equilibrium, the final and static price for any good or factor? Can the managerial state make the impossible possible? This is a rewarding discussion of socialism from Mises's brilliant and radical point of view. Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human A…
Apr 10, 2020
Human Action Part Four with Dr. Mark Thornton
Professor Mark Thornton and Jeff Deist finish Part Four of Human Action with a look at Chapters 21–24 of the book—a powerful exposition of how social cooperation and market exchange create far more harmony in society than state power. Here Mises explains how we all choose labor or leisure every day, and why wages are not the exploitative pittance socialists imagine. Land and rents have been misconstrued as special factors of production, when in fact market exchange helps us understand their prices just like any other good. These chapters serve as a nice summation of several themes in the book, and set the stage for considering full socialism in Part Five. Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
Apr 3, 2020
Human Action Part Four with Dr. Joe Salerno
Dr. Joe Salerno joins the show for a dynamic look at Human Action Part Four, arguably the meatiest part of the book. Chapters 18, 19, and 20 are where Mises presents the idea of pure time preference, his expanded theory of interest, and the parameters of business cycle theory and malinvestment. Salerno and Jeff Deist consider how time relates to capital; gratitude for society's accumulated wealth; convertibility of capital thanks to stock markets; why holding cash can be productive; originary interest as a ratio, the fallacious classical and Marxist notions of interest, and the boom/bust cycle created by politicians, voters, and bankers who see that inflation "works" for awhile. This is a great discussion of Mises at his best! Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
Mar 27, 2020
Human Action Part Four with Dr. Jeffrey Herbener
We dive into Part Four of Human Action with Professor Jeffrey Herbener, Chair of the Economics Department at Grove City College. This is a fantastic discussion of money and market exchange, with Mises proving timely as ever given the current financial meltdown and crazed response from Washington. Dr. Herbener and Jeff Deist cover catallactics and how imaginary constructs help us understand basic economics; markets as a system of social cooperation; how ordinal preferences find expression in money prices; the structure of production; consumer sovereignty; Mises's conception of monopoly; and the various media of exchange which complicate what ought to be the market's provision of commodity money. Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
Mar 20, 2020
Human Action Part Three with Dr. Per Bylund
We continue our series on Human Action with Professor Per Bylund of Oklahoma State University. Dr. Bylund and Jeff Deist consider Part Three of the book, "Economic Calculation," considering Mises's conception of value and the folly of attempting to define a "unit of value" in a highly subjective world. They discuss socialism and the elementary theory of value and prices; inputs and outputs in barter vs. under monetary exchange; prices as exchange ratios; why change is constant and price "stabilization" efforts fail; why mathematical calculation of money prices may rival the wheel as among the most important human inventions; and why Mises thought praxeology emerged when man started thinking about monetary calculation. Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
Mar 13, 2020
Human Action Part Two with Dr. Robert Murphy
Our friend and economist Dr. Robert Murphy joins the show for a discussion of Part Two in Human Action, "Action Within the Framework of Society." This is a great discussion of Mises's view of society and cooperation; Mises on Darwin; the Ricardian Law of Association; the case for treating ideological differences as purely ideological; Mises's utilitarianism as it relates to democracy and anarchism, and the critical importance of exchange and monetary calculation in developing society. Use the code HAPOD for a discount on Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study
Mar 6, 2020
Human Action Part One with David Gordon
In the second installment of our series on Mises's Human Action, Dr. David Gordon joins the show to walk us through Part One. The beginning of the book is considered its most "philosophical" material, where Mises lays out the basics of praxeology and epistemology as fundamental to understanding economics. Dr. Gordon and host Jeff Deist consider each of the book's first seven chapters, with topics including: Mises's categories of action and causality, a priori disciplines, polylogism, "felt uneasiness," value and preferences, praxeology as it relates to time and uncertainty, probability and its application to human action, and the nature of production. If you've wanted to read Human Action, this is your opportunity to hear it explained by great economists and scholars! Use the code HAPOD for a discount on the pocket edition of Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mis…
Feb 28, 2020
Why You Should Read Human Action in 2020
Human Action is the book you want to read, you need to read, you've thought about reading. So make 2020 the year you do read it! Over the next seven weeks the Human Action Podcast will guide you through this incredibly vital and intellectually transforming work, with a series of guest economists to explain and bring Mises's most important work to life. Our opening show features Dr. Shawn Ritenour of Grove City College, who makes a compelling case for lay readers to engage with Human Action. Jeff Deist and Professor Ritenour share plenty of great background, insights, and anecdotes about Mises and the context surrounding the book, so this is an episode you don't want to miss. Use the code HAPOD for a discount on the pocket edition of Human Action from our bookstore: Mises.org/BuyHA. Additional Resources Human Action: Mises.org/HumanAction Bob Murphy's Study Guide to Human Action: Mises.org/Study The Mises Reader, edited by Shawn Ritenour: Mises.org/Reader
Jan 2, 2020
Understanding Money Mechanics
Dr. Bob Murphy joins the Human Action Podcast to discuss one of the most important issues of all: how money and credit work in today's society. Jeff Deist recently commissioned Murphy to write a series of articles on money mechanics (Mises.org/MoneyMechanics), an exceedingly important topic for critics of the Fed — and today's podcast serves as an introduction to the project. The articles will be compiled into an e-book, with plenty of graphics to simplify the basic process of money creation in a fractional reserve system. If you want to understand how the Fed works, how money and credit come into being, how interest rates arise, and what it all means for you, don't miss this great upcoming series at mises.org. Additional Resources Jeff Deist on Understanding Fed Money Mechanics
Dec 10, 2019
Why Gold Still Matters
Central bankers dismiss gold as a relic, even as they buy up more of it. Politicians dismiss gold as money they don't control and can't expand. Holders dismiss gold as outdated tech. And investors dismiss gold as a static metal paying no yields. So why does gold still matter? Why does it hold value over millennia? Why does it threaten inflationist governments? Why does it seem to be flowing West to East? Why does an ounce of it still trade for more than $1,000, if the critics are right? This is the comprehensive show on gold and its enduring role in today's economy, with Keith Weiner of Monetary Metals.
Dec 3, 2019
The Cultural Consequences of Negative Interest Rates
Negative interest rates are now entrenched reality in Europe, and not just for buyers of sovereign or corporate debt – even retail savings accounts are affected. What does this mean for real people trying to save for retirement? And more broadly, what does it mean for Europe culturally? Not to mention America, since Alan Greenspan tells us negative rates are coming here soon? Our guest Rahim Taghizadegan from the independent Viennese Scholarium joins the show to discuss the anti-economics of negative rates. He is co-author of a new book titled The Zero Interest Trap. He is also a co-author of Austrian School for Investors.
Nov 19, 2019
Does Economic Theory Work in Business?
Marketing guru and fund investor Hunter Hastings joins the Human Action podcast for a look at Economics for Entrepreneurs, a new platform which uses Austrian theory to teach actionable entrepreneurship. Can business acumen be taught, or is it innate? Hunter and Jeff examine consumer sovereignty, value creation, and the theory of the firm, all from a unique Austrian perspective. Austrians have a lot to say about how entrepreneurs ought to think, while business schools fail to adjust to the new decentralized, agile world. Austrian economics provides entrepreneurs with a different set of tools than any business book or MBA program, and our new podcast series will help anyone improve their business or career bottom line. Additional Resources Mises for Business LinkedIn page Economics for Entrepreneurs (E4E) podcast
Oct 11, 2019
Patrick Newman on Rothbard and his Critics
The late Murray Rothbard has passionate fans and critics alike—but was he really the intransigent person his detractors portray? Was he prickly and difficult, or actually generous and helpful to students and colleagues? Did his reputation as an economist suffer for venturing into philosophy, ethics, history, sociology, and anarchism—even though Hayek did the same? Was Man, Economy, and State really just a rehash of Human Action? Did he deviate from Mises on method? Were Power & Market and the Ethics of Liberty just too radical and off-putting? Professor Patrick Newman considers critics like Arthur Burns, Kirzner, Leland Yeager, Nozick, Mario Rizzo, Selgin/White, Jason Brennan, Bryan Caplan, and of course Mises. If you like Rothbard you don't want to miss this show! Additional Resources In Defense of "Extreme Apriorism" by Murray Rothbard Conceived in Liberty, Volume V coming October 25 Join us for a celebration of Mises and his work in Los Angeles October 25–27. More info ava…
Sep 27, 2019
Why the Fed's Mythology Endures, with Murray Sabrin
Professor Murray Sabrin, author of the new book Why the Federal Reserve Sucks, joins HAPod to explain why ordinary people should care about — and oppose — the Fed. This is a comprehensive look at central bank mythmaking: how money creation benefits wealthy elites at our expense; what Keynesians, monetarists, and supply-siders get wrong; and, why we should understand the sordid history of money manipulation and tyranny. Subscribe and listen to the Human Action Podcast on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Sep 23, 2019
Everything About Negative Interest Rates with Bob Murphy
Europe and Asia are awash with $13 trillion in negative yield sovereign and corporate bonds. Alan Greenspan says negative interest rates are coming to America. And the Fed just announced another rate cut, even while Chair Jay Powell and Mr. Trump assure us the economy is better than ever. Economist Bob Murphy joins Jeff Deist to make sense of the nonsensical world of negative interest rates.
Sep 6, 2019
Hazlitt in One Lesson with Walter Block
Professor Walter Block joins the Human Action Podcast for a fantastic in-depth discussion of Henry Hazlitt and his work. Dr. Block has great insights into Hazlitt's work on inflation, economic fallacies, ethics and utilitarianism, and more, plus great anecdotes about Hazlitt, Mises, and Rand. Economics in One Lesson may be the most important economics book ever written for lay readers, and the Mises Institute will release a new edition of the book later this fall—available free to tens of thousands of students across the world. There is still time to be listed as a patron in the book by donating here! Articles discussed: "The Task Confronting Libertarians" "The Case for the Minimal State" (PDF), page 103
Jul 26, 2019
The State of Economics Education
Auburn University professor Dr. Liliana Stern joins a special live episode of the Human Action Podcast for an unvarnished look at the state of economics education today. Why are theory and history ignored, while warmed-over Keynesian models dominate? How can Austrians reclaim their rightful place in the curriculum? Are economics students finding jobs? Why do academic publishing and textbook rackets persist? And why is actual teaching such a low priority? If you care about how economics is taught today, don't miss this show!
Jul 16, 2019
Nation, State, and Economy
Nationalism, globalism, cosmopolitanism, and immigration are heated topics today—but Mises systematically addressed them 100 years ago, in his seminal work Nation, State, and Economy. What is a nation, and what does the nationality principle mean for liberalism? Mises argues that nations arise spontaneously, predating governments. Liberal nations exist to the extent they respect self-determination, peace, and international trade. But illiberal nations produce war and privation, discriminate against minorities, and distort natural migration. So how do we deal with aggressive nationalism? Economist Ryan McMaken, editor of Mises.org, joins Jeff Deist to wrestle with this important and relevant book. Don't miss their great discussion of immigration toward the end of the podcast, referencing Professor Ben Powell's recent paper "Solving the Misesian Migration Conundrum". And use the code HAPOD for a discount on Nation, State, and Economy from our bookstore.
Jun 21, 2019
Richard Cantillon As a Proto-Austrian
Dr. Mark Thornton, our in-house Cantillon expert, joins the Human Action Podcast to discuss the contributions of this important proto-Austrian thinker. Cantillon may well have written the first true economic treatise, one which lays out a comprehensive theory of production, money, interest, value, method, and trade—almost 150 years before Menger's Principles. And along with the other French physiocrats, Cantillon gave us the concept of lassez-faire that later influenced Adam's Smith's invisible hand. If you want to understand economics today, and the precursors to the Austrian school, you need to know Cantillon and his work. Cantillon's An Essay on Economic Theory, edited by Mark Thornton. Free PDF available. A biography of Cantillon by Mark Thornton. "More on Cantillon as A Proto-Austrian" by Guido Hülsmann. Subscribe and listen to the Human Action Podcast on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
May 31, 2019
Mises on Omnipotent Government
In 1944 Ludwig von Mises published Omnipotent Government, his historical treatment of Nazism and its origins in the collapse of German liberalism. This book expands on earlier works like Nation, State, and Economy and Liberalism, applying their analysis to the terrible events of WWII. Europe was up in flames, but Mises skillfully explains how to defeat the total state and its advocates. Professor Matt McCaffrey joins the show to consider this vital book and its absolute relevance today. Everyone interested in peace should read it, and send a copy to a politician who needs it. Read or listen to the book for free here, or enter code HAPOD in our bookstore for $5 off the hardcover edition. Subscribe and listen to the Human Action Podcast on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
May 20, 2019
The Anti-Capitalistic Mentality
The Human Action Podcast reviews another overlooked classic by Mises: The Anti-Capitalistic Mentality. This book takes no prisoners, showing how envy motivates progressive and conservative intellectuals who fear dynamic capitalism. The real reactionaries, according to Mises? Socialists who want to keep everyone stuck at one station in life. Our friend Andy Duncan from Mises UK, who recently reviewed the book, joins the show to discuss. Read the book free here, or enter code "HAPOD" in our bookstore to buy a softcover for only $5! Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
May 7, 2019
The Bureaucratic Revolution
The twentieth century revolution in America was bureaucratic, not ideological. And in 1944, a new American—Ludwig von Mises—published Bureaucracy, the most important and devastating critique of administrative rule ever written. Clocking in at just over 130 pages, this is Mises at his hard-hitting best. Professor William Anderson joins the Human Action Podcast for an in-depth discussion of both the book and the bureaucratic capture of America it warned against. Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Apr 29, 2019
Praxeology and the Method of Economics
Dr. Joe Salerno joins Jeff Deist to explore another foundational topic: the method of economics. Mises developed praxeology, perhaps his most controversial contribution to economic science. Praxeology starts with fundamental axioms, then derives economic theory by working logically through a deductive process. As such, praxeology is at odds with logical positivism and empiricism—and presents a markedly different approach to economics. Readings Ludwig von Mises, The Ultimate Foundation of Economic Science Ludwig von Mises, Human Action, Part One, Chapter II: "The Epistemological Problems of the Sciences of Human Action" Murray Rothbard, "In Defense of Extreme Apriorism" Hans-Hermann Hoppe, Economic Science and the Austrian Method Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Apr 9, 2019
Mises on Liberalism and Political Economy
Our in-house economist and editor Ryan McMaken joins the Human Action Podcast for a deep dive into Mises's seminal 1927 book Liberalism. This is the definitive podcast on the definitive book on liberal society: its foundations, what it means for property, freedom, peace, economic policy, and immigration. Readings Liberalism: In the Classical Tradition by Ludwig von Mises"Was Mises a Neoliberal?" by Jeff Deist"Immigration Roundtable: Ludwig von Mises" by Jeff Deist Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Mar 28, 2019
The Theory of Interest Rates
What are interest rates, where do they come from, and what purpose do they serve? Smith, Marx, and Keynes got these questions wrong; Turgot, Böhm-Bawerk, and Mises got them right. Economist Jeffrey Herbener from Grove City College explains. Readings "The Brilliance of Turgot" by Murray RothbardProfile of Böhm-Bawerk by Roger Garrison Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Mar 13, 2019
It's been almost 100 years since Mises literally wrote the book on socialism. His arguments against central economic planning, still acutely relevant today, have never been refuted—in theory or dismal practice. Joining the Human Action Podcast to discuss this monumental book is Dr. Shawn Ritenour, professor of economics at Grove City College and editor of the Mises Reader. Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Mar 4, 2019
Mises on Money
The Theory of Money and Credit—Mises's first major work—revolutionized economics by introducing a new theory of how and why money has value. It deserves serious attention, and Dr. Jeffrey Herbener joins The Human Action Podcast for an extended discussion of this seminal work and the achievement it represented. Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Feb 25, 2019
Why Menger Matters
You probably haven't read Carl Menger's Principles of Economics, but you should: it's a groundbreaking work that created a new theory of value and built a foundation for praxeology. Dr. Joe Salerno joins us for the definitive podcast on the founder of the Austrian school. Dr. Joe Salerno's brief biography of Menger Dr. Peter Klein's foreword to Principles of Economics Carl Menger's Principles of Economics online in PDF and ePub formats Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Feb 13, 2019
Economics is a Mess
Professor Peter Klein joins The Human Action Podcast to explain how and why. Subscribe and listen on iTunes, YouTube, Stitcher, Soundcloud, Google Play, Spotify, or via RSS.
Jan 18, 2019
Jeff Deist on Why Socialism Persists
This is the last Mises Weekends episode! But don't despair, Jeff will soon be back with a brand new format: The Human Action Podcast. The new show is not radically different, but focuses more exclusively on Austrian economics, its great books, and its great thinkers — with longer, more in-depth interviews. But don't take our word for it, tune in next week to the first show with David Gordon! Your RSS-fed platforms like Stitcher and SoundCloud will continue to support the new show, while Mises.org will still host both streaming and downloadable audio files. And your iTunes subscription will redirect you from Mises Weekends to The Human Action Podcast. This week Jeff takes a hard look at socialism and why it seems to gain greater support in the US and across the West. Do people really understand socialism as Mises did, and do they really want collective ownership of industry? Or do they just want what he termed "pseudo-socialist" economic systems that redistribute wealth? What motiv…
Jan 11, 2019
Joe Salerno on Mises and Nationalism
Dr. Joe Salerno will address the annual Students for Liberty conference this week on the topic of his seminal article, "Mises on Nationalism, the Right of Self Determination, and the Problem of Immigration." While Mises had plenty to say about nation states and liberalism, he wrote relatively little about immigration per se. Dr. Salerno and Jeff Deist discuss Mises's conception of nation and state, breakaway movements, borders, and self-determination in polyglot societies. Nationalism and immigration are the most contentious political issues today, and Mises's perspectives remain remarkably fresh and relevant.
Jan 4, 2019
Jeff Deist on Money in the 21st Century
Jeff Deist joins Australian podcaster Stephan Livera (twitter) for an in-depth look at money in an era of crazed monetary policy. They tackle how Austrian economics relates to cryptos, why gold still matters, how deflation and "hoarding" are healthy for an economy, and how any challenge to the central bank cartel could create a political upheaval far beyond banking and economics.
Dec 28, 2018
Daniel Lacalle on the Central Bank Tightrope
Our great friend Daniel Lacalle, author of Escape from the Central Bank Trap, joins the show to discuss the perilous condition facing central banks after a decade of their own malfeasance. Daniel and Jeff discuss absurd reactions to the Fed's tiny interest rate hikes, the fragility of central bank policy in the face of enormous sovereign, corporate, and household debt, why expansionary monetary policy always hurts poor people, and what the Fed and ECB might do– realistically– under current conditions. This is a must-listen interview with one of the best and most visible central bank critics.
Dec 21, 2018
Dave Smith on Trump's Christmas Surprise in Syria and Afghanistan
The great comic Dave Smith is the proud dad of a newborn baby girl. Will she witness fewer American wars in her lifetime than a girl born in 1918? Dave and Jeff Deist discuss the astounding news from Trump about reducing troops in Syria and Afghanistan, the growing push-back against neoconservative foreign policy from ordinary Americans of all stripes, the impassible rift in Conservatism Inc. caused by Trump, and how Rand Paul may lead a new noninterventionist resurgence.
Dec 14, 2018
Carmen Dorobăț: A Young Scholar on Mises's Legacy and Impact
Professor Carmen Dorobăț grew up in Romania—too young to remember Ceaușescu, but deeply aware of what socialism did to her country. Fortunately, she discovered Ludwig von Mises during her university years and found her passion for economics. She joins Jeff Deist to discuss how Mises's work and legacy paved the way for her and an entire generation of younger scholars.
Dec 7, 2018
Dr. Robert Murphy on the Dubious Economics of Climate Change
Climate Change (née Global Warming) is based on three premises: the earth's atmosphere is warming; humans are responsible for that warming; and warming is inherently bad. But even if we accept these premises, what economic trade-offs are warranted in response? No more air conditioning or private automobiles? Heavy carbon taxes? Outlawing relatively cheap fossil fuels and mandating expensive renewable sources? Slower economic growth in the developing world? One child policies? Dr. Robert Murphy joins Jeff Deist to discuss how the political landscape and media narratives fail to consider obvious choices and trade-offs inherent in the climate change debate.
Nov 30, 2018
Danielle DiMartino Booth on the Fragile Fed Narrative
Former Dallas Fed official Danielle DiMartino Booth joins the show just as Chairman Jay Powell faces his first major challenge: will he keep raising rates as promised now that autos, housing, employment, and even tech stocks look soft? And if not, will he effectively signal that the US economy is in big trouble? DiMartino Booth and Jeff Deist discuss Powell's performance to date, the credulity of the financial press, the ugly ticking time bomb of US corporate debt, and whether Austrians and permabears overestimate the Fed's influence on the economy.
Nov 23, 2018
Connor Boyack: Explaining the State to Kids
Connor Boyack is back with another book in the Tuttle Twins series called The Fate of the Future. It's based on Murray Rothbard's famous Anatomy of the State, and like Rothbard it pulls no punches when describing government as predatory, violent, and coercive. Connor and Jeff Deist discuss why it's so important to offer an early alternative to the fantasyland view of the state that kids get in schools, and how the revolutionary act of home schooling may prove more powerful than any other libertarian activism.
Nov 16, 2018
Michael Boldin on the Reality of Secession
The midterm elections failed to produce an overwhelming Blue Wave, and political rancor in the US remains feverishly high. Now an astonishing new article in The Intelligencer considers the idea of a "federated" America, broken up into several political entities associated via compacts. It's not a dystopian view of a possible future, but rather a clear-eyed projection of what a political breakup of America might actually look like. But is a breakup feasible? Does it have to involve outright secession by several states, or can some form of federalism allow Team Red and Team Blue to live together, even uneasily? Is Mises's conception of true self-determination, implemented by smaller administrative units rather than huge centralized states, lost to us today? Michael Boldin of the Tenth Amendment Center joins Jeff Deist to discuss the realities behind breaking up the US politically.
Nov 9, 2018
Jeff Deist on "The Show"
The legacy media doesn't report news, it produces a show. "The Show" lies to us, divides us, inflames the culture wars, and creates political division. The old broadcast networks, cable channels, newspapers, and magazines all actively work against liberty and correct economics—so the importance of alternative sources for news, economics, history, and politics has never been greater. Jeff Deist spoke on the topic of new and old media at our recent event in Texas.
Nov 2, 2018
Dr. Yoram Hazony on Liberalism, Nationalism, and Globalism
Dr. Yoram Hazony's new book The Virtue of Nationalism asks several provocative questions: are nation-states necessarily illiberal? Are globalism and universalism inevitable? If so, why do we blithely assume a post-national world will be liberal and benign? Are movements toward supranational governance, always ordered around western political conceptions, a new form of imperialism? And what does history teach us about ordering human affairs to best ensure prosperity, peace, and human flourishing? Ludwig von Mises—quoted in the book—asked these questions almost a century ago in Liberalism, and they're every bit as relevant today in the age of Trump. Dr. Hazony joins Jeff Deist for a compelling interview. Related article: Dr. Joe Salerno on Mises and the nation state.
Oct 26, 2018
Ryan McMaken: Capitalism Makes Us More Humane
This week, we feature a recent episode of Ryan McMaken's Radio Rothbard podcast. We continue to hear about how capitalism and industrialization distract us from the important things in life. In reality, the historical record shows that it was industrialization and capitalism that propagated the conditions under which we can afford to treat each other more humanely. Radio Rothbard is a series of short podcasts based on columns and research from the Mises Institute's Mises Wire. Topics include economics, comparative politics, and history. Subscribe to Radio Rothbard today on iTunes, Google Play, Stitcher, Soundcloud, or via RSS.
Oct 19, 2018
Patrick Newman: Rothbard in the 21st Century
Almost twenty-five years after his death, unpublished material by Murray Rothbard is still being released. Professor Patrick Newman, editor of The Progressive Era, is hard at work on the long lost fifth volume of Conceived in Liberty—Rothbard's epic history of colonial America. How did one man write so much, and what can he still teach us today? Don't miss this terrific talk from a leading Rothbard scholar.
Oct 12, 2018
Daniel Lacalle on the Biggest Bubble of All
What's the biggest and most dangerous financial bubble? Sovereign debt issued by profligate governments. And unlike stocks or corporate debt, government bond bubbles harm millions of ordinary people when they burst. Economist Daniel Lacalle joins Jeff Deist to figure out the bizarro world of the bond bubble: negative interest rates, anemic rate spreads between government bonds and "high yield" bonds, and central banks as the unseemly buyers of last resort. They discuss the Fed's interest rate hikes, Jerome Powell's focus on data, the US housing market, and why all of us have a stake in seeing central bank balance sheets shrink. Related article: Daniel Lacalle on the Bond Bubble
Oct 5, 2018
Dr. Peter Klein on Silicon Valley Socialism
Silicon Valley used to be a hotbed of libertarian thought, a place where innovation mattered more than government. Today, companies like Twitter and Facebook serve as de facto editors, banning users like Alex Jones for "wrong-think." Google dominates search, but may steer search results. And Amazon serves nefarious clients like the NSA with its cloud infrastructure. And all of them employ plenty of lobbyists to avoid the kind of government anti-trust suit Microsoft faced nearly 20 years ago. Libertarians oppose regulation, but also oppose censorship and politically correct culling of opinion. Dr. Peter Klein recently addressed these topics and more, in a talk illustrating how the technology sector has drastically changed in recent years—and how tech firms evolved into media companies focused on influence instead of innovation. He argues that social-media companies put on a public facade of being private and free of government influence, but behind the scenes they really lobby for pr…
Sep 28, 2018
Mises Weekends Live! Allen Mendenhall on our Terrible Supreme Court
Allen Mendenhall from Faulkner University Law School joins Jeff Deist to break down the hyper-politicized spectacle of the Kavanaugh confirmation hearings. How did the Supreme Court become so wildly powerful, even while rubber-stamping the excesses of the executive and legislative branches? How much longer can America survive having deeply contentious issues like abortion and gun control decided by a de facto super-legislature? Why is the Constitution a malleable "living document" but Supreme Court precedents are sacrosanct? And how will we ever overcome deep-seated public misconceptions about the role and powers of the Court?
Sep 21, 2018
Jim Bovard on the Terrible Politicization of America
We take a break from economics this week to welcome our old friend Jim Bovard for an unflinching look at the disastrous politicization of everything in America. The nasty fight over Brett Kavanaugh's Supreme Court confirmation is only the latest example of a trend Rothbard identified decades ago, one that intensifies in the Trump era. Can we ever make politics matter less again? Can we ever stop filtering everything that happens through a noxious lens of race, sex, class, oppression, and intersectionality? And can we ever stop seeking to vanquish people politically?
Sep 14, 2018
Jeff Deist: Is American Civilization Self-Destructing?
This weekend’s show features Jeff’s recent appearance on the radio show Turning Hard Times into Good Times hosted by Jay Taylor. They discuss the big picture aspects of the US economy—namely, what's going on civilizationally with debt and central banking, and the seemingly endless civil wars in the middle east. They also deconstruct the poisoned political landscape in Washington DC, despite the lack of any meaningful policy differences between the two dominant ideologies of today: neoliberalism and neoconservatism. This is an eye-opening discussion about the state of things in DC and beyond.
Sep 7, 2018
Jeff Deist on What You Can Do
The intellectual landscape today is far more favorable to markets and Austrian economics than 30, 50, or 100 years ago. Our job is to take the digital means at our disposal and make economics the stuff of everyday life, something relevant to ordinary people. So let’s drop the scrappy underdog posture, the quietism, the retreatism, and the remnant mentality, and fully restore proper economics to its rightful place in academia, business, and civilization itself.
Aug 31, 2018
Dr. Mary Ruwart: How Government Keeps Us Sick
Mary Ruwart is a PhD chemist who worked for 20 years in Big Pharma, and she's seen regulatory capture at the FDA up close. She joins Mises Weekends to discuss the sobering reality of our medical cartel, and what all of us must do in the fight for health freedom in the US. How does government thwart radical research that might eliminate cancer, HIV, and chronic diseases like diabetes? Who really funds the FDA? Why do doctors go along with it? Can we measure how many deaths the FDA causes each year, rather than prevents? And will health supplements or alternative health modalities remain legal and widely available in the US?
Aug 24, 2018
Professor Steve Hanke Explains Hyperinflation
Steve Hanke, professor of economics at Johns Hopkins and head of Cato's Troubled Currencies Projects, is an Austrian—but he's an Austrian who looks at markets first and foremost. He also thinks QE was the right thing for the Fed to do in 2008, Austrians are all wrong to focus on the Fed's balance sheet instead of the M4 "broad money" supply, and US debt is a more distant worry than the risk posed by Trump's tariffs. An expert on currencies and inflation, Professor Hanke joins the show to explain what's happening in places like Venezuela and Turkey. How and why do currencies fail, and how can hyperinflation be prevented without bailouts by the IMF? What can stop the vicious cycle of printing money to pay bills when no tax base exists? And what do recent past examples in Bulgaria, Russia, and Yugoslavia teach us?
Aug 16, 2018
Saifedean Ammous on Bitcoin Hype
It turns out the best book on Bitcoin was written by someone who thinks the cryptocurrency is not a particularly good form of payment, not particularly anonymous, and not a good investment for most people. Saifedean Ammous, professor of economics at Lebanese American University, wrote The Bitcoin Standard to cut through the hype and examine crypto technology through a rigorous Austrian lens. The result is a phenomenal book: pro-gold, pro-Mises, and optimistic about the crypto revolution's goal of creating truly private money. This is the guy you should listen to when it comes to Bitcoin. He sits down with Jeff Deist for a thorough and entertaining interview.
Aug 10, 2018
Jeff Deist on PC and the State-Linguistic Complex
As the events of recent weeks demonstrate beyond doubt, political correctness is very real, deeply authoritarian, and wedded at the hip to progressive government. PC is not about respect or inclusivity, but rather a naked attempt to consciously manipulate language in service of progressive ends. Worst of all, PC creates an atmosphere in which we mostly censor ourselves. When libertarians like Daniel McAdams and Scott Horton find themselves de-platformed by twitter, it's time to see the "state-linguistic complex" for what it really is. Jeff Deist addresses the Federalist Society of Montgomery, Alabama, to make sense of it all.
Aug 3, 2018
Judge Andrew Napolitano: How the Courts Killed Natural Law
The Constitution represented a coup from the beginning, and it's a dead letter today. The Declaration of Independence, however, is a truly radical libertarian document still worthy of consideration. Judge Andrew Napolitiano, our Distinguished Scholar in Law and Jurisprudence, recently gave a rousing talk at Mises University on the Declaration's natural law tradition–and how federal courts relentlessly and successfully attacked the principles it represented. This is Judge Nap at his scorching best, and you won't want to miss his comments on Supreme Court nominee Brett Kavanaugh.
Jul 27, 2018
Ronni Stöferle on Why Gold Still Matters
Even many libertarians dismiss gold and precious metals as irrelevant in the global monetary system. Ben Bernanke famously told Ron Paul that gold is a commodity, not money. So why do central banks still hold so much of it, Ron asked? Good question. Ronni Stöferle from Incrementum AG joins Jeff Deist to talk about everything related to gold: why it's still money, how it might react to rising interest rates, why the IMF still worries about it, and why so much of it seems to be flowing from West to East. You won't want to miss his analysis of why gold and precious metals are complementary assets with respect to cryptocurrencies, and his call for both camps to join forces and promote Hayek's goal of denationalizing money. Related: Ron Paul on the Dollar Dilemma.
Jul 21, 2018
Ryan McMaken and Jeff Deist on Radical Decentralization
Mises.org editor Ryan McMaken joins Jeff Deist live at Mises U to make the radical case for decentralization of political power. They tackle the Misesian view of self-determination, Professor Bryan Caplan's recent critique of decentralization as mechanism for liberty, how subsidiarity could improve the ugly culture wars in the US, and why smaller states—and smaller electorates—make more sense than political universalism.
Jul 13, 2018
Allen Mendenhall on our Hyper-Political Supreme Court
The Supreme Court is hopelessly politicized, far too powerful, and relentlessly hostile to liberty. Our legal expert Allen Mendenhall joins Jeff Deist to discuss the liberal and illiberal aspects of nominee Brett Kavanaugh's record, the limits of originalism, and the intractable reasons why changing the makeup of the Court won't save us from a rapacious federal government.
Jul 6, 2018
Daniel Lacalle on Why Central Banks are Trapped
Daniel Lacalle joins Jeff Deist to discuss how and why central banks are trapped, stuck with ultra-low interest rates and expansionary policies that produce astonishingly little real growth. This is a hard-hitting and sober look at what rising interest rates will mean, why academics and bankers are so clueless about the monetary side of financial markets, and why Austrians need to offer real-world solutions instead of ideology.
Jun 29, 2018
Jacob Huebert on a Libertarian Victory at the Supreme Court
Public sector unions think it's okay to force employees who aren't union members to pay dues that fund leftwing lobbying. Libertarians support any voluntary associations, including unions, but oppose compelled speech and legislatively-mandated collective bargaining. Our guest Jacob Huebert is the attorney who won the enormously important Janus vs. AFSCME Supreme Court case, this week. He's also an Associated Scholar with the Mises Institute and author of an excellent primer titled Libertarianism Today. Jacob and Jeff Deist break down the libertarian perspective on this landmark case.
Jun 22, 2018
Caitlin Long: Will Blockchain Free Us from Wall Street?
Caitlin Long recently joined us in San Francisco for an inside look at how blockchain technology might blow up the financial service and banking industries. This is a presentation you won't want to miss from someone at the cutting edge of both blockchain technology and the legal landscape surrounding it.
Jun 15, 2018
Ryan McMaken: Why Breaking Up is Hard to Do
Mises.org editor Ryan McMaken joins Jeff Deist for an entertaining look at the California ballot measure that would split the Golden State into three distinct parts. It's long overdue, says Ryan, and not as far-fetched as it sounds.
Jun 8, 2018
Daniel McAdams on Who's Funding War Propaganda
Daniel McAdams from the Ron Paul Institute gave a talk last weekend about groups funding war propaganda in mainstream and social media, and how they prevent anti-interventionist voices from being heard on those same platforms. Companies like YouTube, Google, Facebook, and Twitter are now judging—and banning—ideological content based on the guidance of really evil organizations like the Atlantic Council, Snopes.com, and the Southern Poverty Law Center. All of this poses serious questions for doctrinaire libertarians, not only concerning free speech, but also property rights: remember, these are ostensibly private companies free to operate as they see fit.
Jun 1, 2018
Danielle DiMartino Booth on the Fed's Mission Impossible
Danielle Booth, a veteran of the Dallas Fed and author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America, joins the show to consider whether—or if—the Fed can ever return to "normal" monetary policy. Raising interest rates might slow or even crash equity markets, while causing US debt service to spike. But leaving rates low keeps the US economy in zombie status, punishing savers and preventing bad debt and malinvestment from clearing. It's a no-win situation for new Fed Chair Jay Powell.
May 25, 2018
Dr. Yuri Maltsev on Socialism's Resurgence
The Left makes excuses for Venezuela, college students wear Che Guevara shirts, and polls show growing support for socialism among millennials. Our friend Yuri Maltsev, a Soviet expat with no illusions about the real nature of state planning, joins the show to explain why (deluded and rich) western progressives, academics, elites, and media won't let go of their socialist project.
May 18, 2018
Jeff Deist on Libertarian Division
Jeff Deist joins the Tom Woods Show to discuss libertarianism, left and right, and ongoing divisions within the movement. If you could have libertarianism triumph, but it meant cultural outcomes of which you disapproved, would you still want it? A thought-provoking interview you won't want to miss.
May 11, 2018
Jeff Deist on Money, Trade, Tariffs, and Marx
Jeff Deist joins his friend John O'Donnell on Power Trading Radio to talk about everything from money to Marx to whether "unilateral" free trade is a good idea.
May 4, 2018
Hans-Hermann Hoppe: What Marx Gets Right
This week, Mises Weekends features a 1988 lecture from Dr. Hans-Hermann Hoppe on Marxist and Austrian class analysis. It might surprise some that Dr. Hoppe sees some "intellectual affinities" between Austrianism and Marxism, in the way that each identifies exploitation among a ruling class. Of course, for Austrians, we identify that it is the state — not the bourgeois — that is the threat to the masses. Tune in for a fascinating talk.
Apr 27, 2018
Amity Shlaes on Silent Cal
Sandwiched between progressive avatars Teddy Roosevelt, Woodrow Wilson, and FDR, Calvin Coolidge gets little acclaim. But Coolidge historian and biographer Amity Shlaes makes the case for libertarians to view "Silent Cal" favorably, as someone who deeply and instinctively distrusted grandiose government. With the Great War over, Coolidge called for "normalcy" — meaning peace — staying out of the League of Nations, and a humble America First foreign policy. The Fed was in its infancy, but Coolidge instructed Treasury Secretary Andrew Mellon to pursue a monetary policy that yielded deflation, arguing that "inflation is repudiation." And when he left office in 1929 the US federal budget was nominally smaller than when he first became president, a great feat in any era. Coolidge by Amity Shlaes is available now. See also The Forgotten Man and The Forgotten Man Graphic Novel.
Apr 20, 2018
Per Bylund on AI and the Structure of Production
Our guest is Dr. Per Bylund of Oklahoma State University, who joins Jeff Deist to dispel some of the myths surrounding artificial intelligence and mass data collection. AI is just the next evolution of smart software, Bylund argues, and should be celebrated like all technology as higher order capital goods that increase productivity and wealth. He also argues that Hayek's knowledge problem won't be overcome by computing power anytime soon, because no amount of data can fully explain subjective human wants and values. What makes AI and data mining potentially dangerous, Bylund reminds us, is their misuse by government. See Per Bylund's article "What Makes AI Dangerous? The State".
Apr 13, 2018
Daniel McAdams on What You Need to Know About Syria
A week ago Trump tweeted about leaving Syria. Now the US and other western nations stand at the brink of a new war in Syria, one that threatens much greater conflict with Russia. Daniel McAdams from the Ron Paul Institute joins Jeff Deist to discuss whether John Bolton is now running US foreign policy, what Bibi Netanyahu told Trump on the phone, and whether cooler heads in the administration are thinking about second and third order effects. Have we learned anything at all from Libya and Iraq? And, how do interventionists maintain wars with no popular support beyond the Beltway? See the Mises.org editorial "Against War in Syria".
Apr 6, 2018
Kevin Dowd: Against Monetary Stimulus
At last month's Austrian Economics Research Conference, we were honored to be joined by Kevin Dowd, an Emeritus Professor of Economics at Nottingham University. Dowd presented a blistering critique of modern central bankers and their mania for monetary stimulus. In this excerpt from his talk, he explains how policies like negative interest rates not only reflect bad economic thinking, but also pose a danger to the civil liberties. What will the Fed and European Central Bank do next, if ersatz economic growth cools in a period of rising interest rates? Don't miss this masterful explanation of how central banks destabilize and distort every aspect of the economy.
Mar 30, 2018
Michael Watson: What is Outside of Economics?
Our guest Michael Watson joins Jeff Deist after delivering a provocative paper last week at our research conference comparing Mises and Thomas Aquinas. They discuss Misesian praxeology, Catholicism, charity, altruism, and personal relationships in an attempt to decide what acts lie within and without the scope of economics. Are humans really super-rational Homo Economicus beings, per John Stuart Mill? No, according to Mises, who posits that we operate under conditions of bounded rationality using means-ends approaches. How do we reconcile our ethical worldviews with value-free economics? And how can we apply economics and praxeology to things like religious faith, love, and even involuntary conditions like slavery and war?
Mar 23, 2018
Jim Bovard on Why Washington Never Learns
The great James Bovard addresses our annual research conference in Auburn on the dismal failures of government regulation — from farm subsidies to steel tariffs to FDA drug trials.
Mar 16, 2018
Jeff Deist: Are Millennials Abandoning Liberty?
After watching students across the nation march this week against gun rights, are we seeing young Americans abandoning liberty? Joining Dr. Paul and Daniel McAdams on the Liberty Report, Jeff explains that he thinks the media exaggerates the appeal of the left to Millennials and their successors in "Generation Z."
Mar 9, 2018
Michael Boldin Makes the Case Against Jeff Sessions
Attorney General Jeff Sessions was at it again last week, insisting that the supremacy of federal law is "settled"—which is his way of saying nullification and secession are illegal. But Sessions is hardly alone in his thinking, which would be right at home on the pages of Salon or National Review. Michael Boldin of the Tenth Amendment Center joins Jeff Deist to discuss how we can fight back against the cult of federal supremacy, and why decentralization is a far more pragmatic and humane way to create greater freedom than trying to win national elections.
Mar 2, 2018
Dan Mitchell: Is There an Endgame for US Debt?
Economist Dan Mitchell joins Jeff Deist to discuss what might be the biggest threat of all to American prosperity: the shocking and unconscionable US government debt. What does $20 trillion in Treasury IOUs really mean for the private economy? Will the US government ever default and force bond holders to take a well-deserved haircut—or will the Fed continue to bail out Congress with low interest rates? Can this go on indefinitely, especially since other governments often have even worse fiscal and monetary policies? This is a sobering discussion of a reality politicians don't want to face.
Feb 23, 2018
Ryan McMaken on Privatized Approaches to Gun Violence
The gun control debate is nothing more than a smokescreen: another divisive and emotional issue in a country obsessed with politicizing every human ill, all premised on the wildly irrational idea that we can get rid of 300 million firearms. But there is a market for safe schools and safe public spaces, a market security entrepreneurs could fill if government got out of the way. Mises.org editor Ryan McMaken joins Jeff to discuss private solutions to gun violence, the kind of solutions only available to private property owners with skin in the game. It's time to apply market incentives to school security. Read more on this topic here, here, and here.
Feb 16, 2018
Michael Malice on North Korea's "Economy"
North Korea is not the poorest country on earth, but it is undoubtedly the most miserable. Michael Malice has been there, and joins Jeff Deist to discuss the bizarre economics of life in a country with virtually no outside trade. China and Russia provide critical imports, especially oil and grain, without which the DPRK would truly grind to a halt. But this is foreign aid disguised as trade for worthless North Korean "currency." Beyond that a depressing form of autarky reigns, whereby the Central People's Committee creates economic plans that produce nothing but starvation and crumbling concrete. This is a fascinating conversation about "prison camp economics," and how concepts of exchange and calculation scarcely apply where market goods, technology, and price information are almost nonexistent. North Korea is a stark reminder of where omnipotent government leads. Photo of Michael Malice in video graphic is by Matt Wyzykowski.
Feb 9, 2018
Mark Thornton: Is the Bust Here?
With stock markets in turmoil earlier this week, the Mises Institute's resident expert on booms and busts joins Jeff Deist to make sense of it. Will new Fed Chair Jerome Powell do everything possible to prop up markets, or will he be more hawkish than Janet Yellen? What kinds of indicators does Mark look for to predict trouble (hint: it's not the VIX). Why does the volume of margin loans matter, and why is the Russell 2000 Index a better predictor than the Dow or Nasdaq? Are cryptocurrencies now bound up with macro trends? And is Austrian business cycle theory necessarily incomplete as a tool to help investors? See Mark Thornton's 2004 article "Housing: Too Good to be True".
Feb 2, 2018
Daniel McAdams on the Real Cost of "Defense"
Daniel McAdams from the Ron Paul Institute joins Jeff Deist for an unbridled discussion of the true costs of war. We know the US spends more on "defense" than many big countries combined, but what are the actual numbers? How long can the federal budget sustain empire and entitlements? Will rising interest rates finally force Congress to stop expanding wars, building bases, buying useless weapons systems, and meddling around the world? And is Trump the president far more hawkish than Trump the candidate? This is a great conversation with one of the leading libertarian foreign policy voices.
Jan 26, 2018
Jeff Deist: Beyond the Wall
Jeff Deist joins his friend "Mance Rayder" to discuss the political and economic state of the union, the endless fractures within libertarianism, a different way to look at immigration, and how Rothbard's fans and detractors alike benefit from reading him.
Jan 19, 2018
Ryan McMaken: Are We Getting Poorer?
By every measure extreme poverty in Third World nations is decreasing rapidly. But what about the US and the West? Economist and mises.org editor Ryan McMaken joins Jeff Deist for a wide-ranging discussion of what makes people rich, and how economists should measure wealth. This great discussion explains the decline of real incomes and savings rates in the West, the moral hazards created by central banks, and how a happy combination of technology and market innovation often manages to outpace rapacious governments. Is deflation, horribly mischaracterized by economists, the real source of wealth in a society? And should we judge our personal finances in terms of net worth or lifestyle?
Jan 12, 2018
Michael Boldin: How Decentralization Could Work
Michael Boldin from the Tenth Amendment Center joins Jeff Deist to discuss the philosophical, electoral, and logistic realities standing in the way of creating a more politically decentralized America. Beyond thorny questions about federal land, federal entitlements, and "national defense," there are a million small ways to move power away from Washington. Both conservatives and progressives claim to want just that—so what holds us back? Michael, a onetime progressive, has the strategic and practical answers for liberty-minded people.
Jan 5, 2018
Jeff Deist: The Small Revolution
Speaking at our recent event in Orlando, Jeff Deist discusses how libertarians should confront the current political landscape. Given the stubborn tendency for governments to emerge and endure in human societies, we should focus our efforts on creating smaller political units that more closely allow for a Misesian vision of democratic self-determination.
Dec 29, 2017
Bob Murphy on the Culture Wars
Our final show of the year features a talk given by Dr. Bob Murphy at a recent Mises Institute event in Orlando. His topic is the culture wars—and if you think America is divided now, just wait until we have another crash like '08. But Bob is ready with a prescription: less politics & smaller polities. It's time to stop hating each other and start reducing the political power wielded over us, as Bob conveys in his own unique and humorous style. Listen to Jeff's talk from the event here.
Dec 22, 2017
David Gornoski on Anthropology and Liberty
David Gornoski is a Christian libertarian writer, frequently featured at The American Conservative and Foundation for Economic Education. David takes inspiration from the work of the late Stanford professor Rene Girard, whose mimetic theory strongly influenced a young Peter Thiel. David's goal is to ground libertarianism in cultural anthropology, in particular by applying Girard's "scapegoat theory" to the modern state. Instead of allowing progressives to dominate arts, film, and literature, libertarians should become the storytellers—and show government for the villain it is.
Dec 15, 2017
Jim Bovard on Our Slavish Devotion to Politics
Wall Street Journal and USA Today writer James Bovard joins Jeff Deist to diagnose what's wrong with our body politic today. From relentlessly tribal voting to rank hypocrisy and "whataboutism," Americans are an angry bunch. And their credulous belief in the sanctity of authorities like the FBI is almost entirely determined by whether their party holds the presidency. Is there any political system that can survive the division created by politics in the first place? Jim Bovard brings his Menckenesque perspective to Mises Weekends to discuss our slavish devotion to politics. And don't miss Jim's great article on the FBI as America's secret police or his new book on political perfidy.
Dec 8, 2017
Ryan McMaken: Who Prosecutes the Prosecutors?
So far, the federal investigation into Russian collusion during the 2016 election has been a farce. Lawless and corrupt federal prosecutors—and their pet police agency, the FBI—dominate the headlines. Yet, the Constitution never provided for a federal police force, and lists very few federal crimes. So, how and why did federal prosecutors and agents become so powerful? Mises.org editor Ryan McMaken joins Jeff Deist to discuss. For further reading, see Bill Anderson's Mises Wire article, "Federal Prosecutors Are Running Amok".
Dec 1, 2017
Dr. Lucas Engelhardt on Why the Fed Should Scare Us
Professor Lucas Engelhardt, a popular lecturer at Mises University, joins Jeff Deist to discuss the monetary policy landscape. Janet Yellen makes jokes about $20 trillion in federal debt, but what about the trillions the Fed added to its own balance sheet since the Crash of '08? What will happen to the extraordinary amount of bank reserves parked in no-man's land, not being lent by banks? Can Mises's work help us understand what happens when the supply of money increases much faster than demand for it? How does new money and credit flow into the economy unevenly, benefiting those closest to the government and central bank troughs? And is there an ugly endgame scenario, where rapid asset price inflation (i.e. equity and real estate markets) devolves into rapid consumer price inflation?
Nov 24, 2017
Gabriel Calzada on Free-Market Education in Latin America
Fifteen years ago Gabriel Calzada was a Fellow at the Mises Institute who aspired to bring the Spanish Scholastics' tradition of liberty to Latin America. Today he is president of Universidad Francisco Marroquín, the truly remarkable private school in Guatemala. All students at UFM, regardless of major, take a core curriculum in libertarian thought. The board of directors and almost all professors are entrepreneurs rather than academics. And UFM's charter provides the freedom to experiment and think outside the box, resulting in projects like a business cycle observatory and MOOCs (massive open online course) on subjects like Don Quixote. If you're interested in what entrepreneurial education grounded in free-market economics can look like, don't miss this interview.
Nov 17, 2017
Chris Calton: The March to America's Civil War
Chris Calton, host of the Mises Institute's Historical Controversies podcast, is back with a second season. If you enjoyed his revisionist view of America's drug war during the first season, you'll love his take on U.S. history during the latter 1800s. This episode, titled "The March to America's Civil War", is a fascinating account of the antebellum era. Tune in and find out why this podcast series is creating one of Stitcher's fastest growing audiences. Historical Controversies is available online at Mises.org/HCPod, via RSS, and on Stitcher, iTunes, Google Play, and Soundcloud.
Nov 10, 2017
Dr. Liliana Stern on Growing Up in the USSR
Dr. Liliana Stern, associate professor of economics at Auburn University, joins Jeff Deist in studio to discuss the realities of life under communism. Growing up in Ukraine, Dr. Stern experienced privations that would be unthinkable to her undergraduate students. Even today, hot running water remains a rationed luxury in the region. But if recent polls are correct, many of her students don't understand at all the horrors of collectivism. And they sometimes scoff at her terrifying depiction of what "single-payer" healthcare really means. Dr. Stern considers it her life's work to make Americans understand how good they've got it under (relative) capitalism, and to save young people from profound ahistorical ignorance. You don't want to miss this show—and be sure to listen for her description of Ukrainian dentistry without anesthesia.
Nov 3, 2017
Jeff Deist on Why Smaller is Better
Virtually every aspect of human life becomes more decentralized every day. Technology makes the old hub-and-spoke model of organizations obsolete; highly diffuse and ever-changing networks are the order of the day. So why is governance going in the other direction, becoming more and more centralized? Why do we accept the loss of local control and self-determination, yielding to national and even supra-national bureaucracies? Jeff Deist spoke last week at a meeting of America's Future Foundation on the why smaller government units are better, and how the Swiss principle of subsidiarity could help ease the nasty cultural and political divides facing America.
Oct 27, 2017
Trey Goff: A Constitution for a Free Society
Our guest Trey Goff drafted a remarkable "Voluntaryist Constitution" designed to serve as the foundational legal document for a private society. Trey attempts nothing less than to define the characteristics and rules underlying a common law society, in the form of a polycentric constitutional order as envisioned by Murray Rothbard and legal scholar Randy Barnett. His goal was to create a blueprint for libertarians organizing startup or breakaway societies, one that deals with private property, rights, contracts, justice, and coercion in a rational and humane manner. The result is an inspiring and controversial document, as discussed in this great interview.
Oct 19, 2017
Claudio Grass on Whether Switzerland can Save the World
Switzerland is no libertarian paradise. It has bureaucrats and a wayward central bank. But it remains an astonishing modern example of the principles of federalism and subsidiarity in action. In fact, it exemplifies Lew Rockwell's daydream: nobody much knows or cares who is president. Its federal administrative state demonstrates humility instead of hubris. And virtually all political decisions, from taxes to welfare to immigration, are decided locally. Claudio Grass joins Jeff Deist to discuss what libertarians can learn from Switzerland, and how neutrality in two disastrous European wars shapes Swiss DNA today.
Oct 13, 2017
Joe Salerno on Rothbard as the Heir to Mises
Dr. Joseph Salerno, speaking at our 35th Anniversary Gala in New York last weekend, makes the case for Murray Rothbard as the preeminent modern Austrian economist—and the rightful heir to Ludwig von Mises. This great talk will change your perspective on Rothbard the economist, especially when Joe reveals what Hayek had to say about Murray's place in the Austrian school.
Oct 3, 2017
Daniel Lacalle: A Spanish Libertarian on Catalonia
Daniel Lacalle, a Spanish economist and libertarian who runs Mises Hispano, joins Jeff Deist for an in-depth discussion of the facts behind the Catalan independence vote. Daniel makes the case against secession, based on economics, history, constitutionalism, anti-socialism, and his strong view that independence would result in less freedom for Catalans. Jeff disagrees, arguing for self-determination as a fundamental libertarian political principle that contemplates freedom to choose even bad political arrangements. Don't miss this show if you want to understand what is happening in Catalonia beyond the headlines.
Sep 29, 2017
Dr. Greg Thornbury: Can College Be Saved?
Professor Thornbury is president of a very different kind of school, The King's College in Manhattan. He joins Jeff Deist to discuss everything wrong—and everything that could be right—with universities today. Dr. Thornbury's prescriptions are radical: make education a la carte, offering a mix of degrees, certificates, and micro-certificates. Tailor programs to teach specific skills, and shorten the time undergraduates spend in school dramatically. Insist that all graduates have rigorous writing and public speaking skills. End the publishing model for academics, and replace it with a focus on classroom skills and open inquiry. Finally, make sure students still learn enough about history, philosophy, ethics, classics, languages, and rhetoric to navigate life beyond the digital world.
Sep 22, 2017
Mark Thornton: Can the Fed Unwind?
Federal Reserve Chair Janet Yellen announced the bank would begin selling assets it has relentlessly bought since the Crash of '08. The financial press, including the Wall Street Journal, dutifully praised Yellen for her steady hand. But our guest Dr. Mark Thornton has a different take on what it all means for stock markets, investors, and the US economy. Can quantitative easing—a roundabout form of monetizing debt—actually work? Can monetary policy make us rich? Or, are Fed officials just groping in the dark, putting off a day of reckoning? Jeff Deist and Mark Thornton unwind the narrative.
Sep 15, 2017
Jacob Lindsey: NFL Hopeful from Harvard on Why He Loves Austrian Economics
Jake Lindsey is a brilliant young Harvard grad who majored in economics. His favorite thinkers? Ludwig von Mises and Murray Rothbard. But unlike most young fans of the Mises Institute, Jake was a dominant linebacker for the Harvard Crimson who attracted the attention of scouts from the Buffalo Bills. He's fresh off a pre-season tryout and looking to start a career in the NFL. Jake joins Jeff for a candid interview about his two passions, football and Austrian economics.
Sep 8, 2017
Scott Horton on the Endless War in Afghanistan
Our guest Scott Horton just released an important new book—Fools Errand: Time to End the War in Afghanistan. This is the definitive treatment of the war itself, the history and factions involved, and the disturbing policy mindset that keeps this deeply unpopular conflict churning. Don't miss this interview with one of the leading antiwar libertarians of our time.
Sep 1, 2017
Dave Smith: Libertarians and the Culture Wars
The culture wars have infected every aspect of American life. It's not just Red vs. Blue anymore, or urban vs. rural, it's Antifa vs. the alt-Right—sometimes literally in the streets. Have libertarians lost the narrative in the midst of all this? Are they mired in the same Left/Right divisions that plague society generally? Our good friend Dave Smith, a comedian and a frequent guest on Fox News, joins Jeff Deist to discuss.
Aug 25, 2017
Daniel McAdams: Trump and the War Party
Daniel McAdams from the Ron Paul Institute for Peace and Prosperity joins Jeff to discuss Trumpian foreign policy in light of the president's recent speech on Afghanistan. The costs of our wars in Iraq, Afghanistan, and Syria—human and economic—keep piling up. How do such deeply unpopular wars go on so long? Why do sensible notions of peace and non-intervention fail to gain a foothold in Congress or the White House? How does the War Party in DC plays both sides? And, how do they silence anti-war voices like Tulsi Gabbard? This is a no-holds-barred discussion of the grim realities behind US foreign policy.
Aug 18, 2017
Chris Calton: Historical Controversies
For this week's Mises Weekends, we're excited to share the first episode of a new Mises Institute podcast, Historical Controversies. Hosted by Chris Calton, a Mises Fellow, Historical Controversies is a series that applies a Rothbardian revisionist look to important sagas in American history. The first season covers the War on Drugs, highlighting the role of the US government in fanning the flames of America's drug epidemic. As Murray Rothbard said, "History necessarily means narrative, discussion of real persons as well as their abstract theories, and includes triumphs, tragedies, and conflicts, conflicts which are often moral as well as purely theoretical." Along these lines, Chris interweaves personal stories alongside facts and anecdotes that you will never find in a government approved curriculum. The result is a show that will both entertain and enlighten. We hope you will enjoy the first episode of Historical Controversies, and will subscribe for a new episode every Wednesda…
Aug 11, 2017
Tom Woods: What I Learned from Murray Rothbard
This week's episode features Tom Woods' opening lecture at Mises University 2017. Tom shares his experiences meeting Murray Rothbard, how Murray shaped Tom's intellectual development, plus some valuable lessons for us all.
Aug 4, 2017
Venezuela on the Brink
Our guests are Luis Cirocco and Dr. Rafael Acevedo, two Venezuelans who attended Mises University, last week. Their report from that troubled country is chilling and depressing: food shortages, a lack of medical care and prescription drugs, soldiers and police running black markets, and an entrenched elite made rich after decades of crony socialism under Hugo Chavez and Nicolas Maduro. Oil prices remain very low, and the country's economy is so bad that civil war looms. But our guests remind us that the opposition, pushed by the US CIA, is hardly better—"socialist lite," as they term it. Intellectuals in Venezuelan universities, many of them (badly) trained at Ivy League social science departments, offer nothing more than support for price controls and currency pegs. Horrific hyperinflation is the result. What Venezuela needs is a wholesale intellectual revolution, toward markets and away from deeply ingrained socialism. Listen to this interview and better understand just how quick…
Jul 29, 2017
Mises Weekends LIVE! with Lew Rockwell
Recorded live at Mises University 2017 at the Mises Institute in Auburn, Alabama. Jeff Deist interviews Mises Institute founder and Chairman, Lew Rockwell. Recorded on 29 July 2017.
Jul 21, 2017
Should Libertarians Care about the Constitution?
Lysander Spooner called it "The Constitution of no authority." Conservatives fetishize it, but don't follow it. Progressives want it annulled. So, what should libertarians think about America's founding document? Our guests Brion McClanahan and Allen Mendenhall give us the unadulterated history and unpleasant truths about constitutionalism—but also consider its underappreciated benefits. This is a discussion of the Constitution you won't hear anywhere else. Follow our guests on twitter: @BrionMcClanahan and @AllenMendenhall
Jul 13, 2017
Mark Thornton Explains Our Fake Economy
Dr. Mark Thornton joins Mises Weekends to explain the "business cycle" for what it really is: a series of booms (credit expansion) and busts (debt de-leveraging) engineered by central banks. There's nothing natural, real, or sustainable about the current Yellen boom—so stay tuned for Mark's explanation of how it can all unravel.
Jul 7, 2017
Dr. Richard Ebeling on the State of the Austrian School
Our old friend Richard Ebeling joins Mises Weekends to discuss the health of—and future prospects for—the Austrian school. There are far more Austrian and Austrian-friendly thinkers in academia, business, and the financial industry than ever before. Richard attended the famous South Royalton conference, so he knows just how far we've come. But are Austrians making real progress against the dominant neo-Keynesian orthodoxy? Are we growing on a per-capita basis? And what would Hayek, Rothbard, and Margit von Mises—all of whom Dr. Ebeling knew and spent time with—think of Austrian economics today?
Jun 30, 2017
Ron Paul on Making Money Great Again
Dr. Ron Paul joins Jeff Deist to talk about his decades as a congressman fighting the Fed, his efforts to legalize the use of gold and silver as untaxed currency, and his involvement with sound money initiatives in states like Arizona and Wyoming. Plus, Dr. Paul shares some great anecdotes about Reagan's Gold Commission, Alan Greenspan, and Paul Volcker.
Jun 24, 2017
Edward Stringham on Radically Rethinking Police
The US criminal justice system is hopelessly broken, riddled with bad incentives and bad actors. In the wake of recent police shootings, Dr. Ed Stringham joins Jeff Deist to help us understand how and why private security firms could create vastly better outcomes for crime victims, society, and even perpetrators. This is a fascinating discussion you won't want to miss. Recommended reading: Private Governance: Creating Order in Economic and Social Life
Jun 16, 2017
Peter Klein on How Not to Reform the Fed
Arguments for a "rules based" Fed are gaining momentum on both the political Left and Right — and even among some libertarians. Would the adoption of ideas like NGDP targeting and the "Taylor Rule" really make the Fed less dangerous? Would they be an improvement on the Fed's current discretionary approach? Can monetary "rules" really contain booms and busts, or would Yellen and company simply break them at the first sign of the next crash? Professor Peter Klein joins Jeff for a discussion. Read Rothbard's What Has Government Done to Our Money? here.
Jun 9, 2017
David Gordon on Libertarian Philosophy
David Gordon joins Jeff Deist to consider the important philosophy—and philosophers—libertarians need to know. Starting with Mises's influences in Human Action, Dr. Gordon moves through the 20th century with a great discussion of John Rawls and Robert Nozick. He also suggests the books that Austro-libertarians need to read, even if they're primarily interested in politics or economics.
Jun 2, 2017
Mises Weekends: Yes, You Should Read Human Action
Dr. Joe Salerno and Karl-Friedrich Israel join Jeff Deist to discuss Mises's Human Action, perhaps the greatest treatise on economics ever written. But the book can be daunting for many, given its length and the sheer enormity of the systematic thought it presents. Our guests break down how and why everyone should read it, echoing Mises's belief that economics was the proper area of study for every thinking person. This is a great discussion of the history and behind a masterpiece of economics, epistemology, and philosophy. Read it free here!
May 26, 2017
Patrick Newman: Rothbard vs. The Progressive Era
More than 20 years after his death, Murray Rothbard continues to publish new books! Our guest Patrick Newman is the editor of a Rothbard manuscript dating to the 1970s entitled Roots of the Modern State, which the Mises Institute will release as a book later this year. Rothbard's topic is the Progressive Era of the late 19th and early 20th centuries, and he doesn't disappoint. Murray exposes the puritanical impulses of the Roosevelts, Tafts, and Wilsons, along with the self-interested motivations behind the then-burgeoning intellectual-business partnership. Altar and throne, the power centers of previous ages, were replaced by a technocratic elite and the veneer of democracy. Scientism replaced religion, libertarian self-reliance fell to public schooling and labor unions, and statism replaced (relative) laissez-faire. If you want to understand the roots of modern progressivism, and how the West went wrong, you need to read this book. Professor Patrick Newman, a Mises Institute scho…
May 20, 2017
Jeff Deist: Is the Sky Falling?
The media insists the US economy has recovered from the 2008 crash. Equities markets have enjoyed a bull run since the election. Housing prices are rising in expensive coastal cities. Government offices continue to report that GDP is growing while inflation remains in check. And insiders like JPMorgan Chase CEO Jamie Dimon insist that American consumers and businesses are upbeat about the future. But is the supposed recovery an illusion, fueled by an artificial supply of money and cheap credit from the Fed? Are housing and equity prices headed for a fall? Is inflation actually much higher than reported? Will older Americans ever recover their savings lost in the last crash? Will savers continue to lose ground to artificially low interest rates? Has the US economy recovered, or is it a house of cards? Jeff Deist assesses the Trump economy.
May 12, 2017
Bob Murphy: Where Monetarism Goes Wrong
The great Austrian economist Friedrich Hayek celebrated a birthday earlier this week, while the prominent monetarist (and Fed historian) Allan Meltzer passed away the same day. Joining us to discuss monetarism is our friend Bob Murphy, who lays out the central tenets of the Chicago school and its godfather Milton Friedman. At its heart, Bob explains, monetarism is a cousin of Keynesianism—one advocates fiscal stimulus, the other monetary stimulus. Both go astray when it comes to money, and both fail to see the trees in the macro forest. Bob explains why in this great discussion of the differences between the Austrian and Chicago schools.
May 5, 2017
Hans-Hermann Hoppe: A World Without Theft
Dr. Hoppe's book The Economics and Ethics of Private Property is among the most important modern contributions to libertarian thought. Hoppe, like Rothbard, connects laissez-faire economics to normative libertarian theory with laserlike precision and inexorable logic. Property isn't just a social construct determined by legislative fiat, but rather a necessary component of self-ownership and the foundation of a free society. Hoppe details many of the arguments made in the book during a talk entitled "A World Without Theft", delivered at a Mises Institute event in 2006. This is a fantastic talk you won't want to miss.
Apr 28, 2017
Jonathan Newman: Fake Science
Mises Institute Fellow Jonathan Newman, author of the article "Neil Ty, the Scientism Guy", joins Jeff to discuss the recent March for Science—and how politicized pseudoscience peddled by the likes of Bill Nye silences debate and drives dubious public policy.
Apr 21, 2017
Tho Bishop: The Alt-Right in Auburn
The Mises Institute's hometown of Auburn, Alabama, made national news this week as Richard Spencer was allowed to speak on the university's campus following a court ruling. The event was a win for free speech, but also revealed Spencer's affinity for socialism and the state. Instead of being a dangerous "thought criminal", is Richard Spencer really just a naïve statist? Of course, the best way to win in the battle of ideas is not to simply ignore or censor those you disagree with, and there is no need for libertarians to run from topics such as nation and culture. As demonstrated by scholars such as Mises, Rothbard, and Hoppe, these ideas are in no way at odds with liberty and individualism, and are best preserved by decentralizing power and grounding society in a respect for private property rights.
Apr 13, 2017
Danielle DiMartino Booth: Inside the Fed
Danielle DiMartino Booth is a former Dallas Fed staffer and author of the new book Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America. She joins Jeff Deist to talk about her years watching Ivy League PhDs make gross and fundamental errors in an almost comically cloistered environment. Have Fed economists even read Mises and Hayek? Do they recognize malinvestment as a byproduct of interest-rate setting? Do they know anything about their own institutional history, or at least enough to recognize how mission creep has turned the Fed into a central planning Politburo? And how will Janet Yellen deal with the inherent tension between raising interest rates and keeping the cost of US debt service in check?
Apr 6, 2017
Caitlin Long: What Blockchain Means
Our guest this week is Caitlin Long, president and chairman of the smart contracts platform company Symbiont. Caitlin is a twenty-year Wall Street veteran, and now she's turned her focus toward using blockchain technology to revolutionize the business world. Caitlin and Jeff discuss how blockchain technology could vastly reduce the role of middlemen in all kinds of everyday transactions, obviating the need for a lot of regulation in the process. Who needs lawyers and endless contract negotiations when the element of distrust between parties can be mitigated? Will the blockchain eliminate the need for "trust agent" intermediaries in real estate and M&A transactions? What will true peer-to-peer exchange mean for banks and stock exchanges? And will we even recognize the financial services industry in 20 or 30 years?
Mar 31, 2017
Godfrey Bloom: From Brexit to Frexit?
This week, Theresa May made Brexit official, triggering Article 50 of the Lisbon Treaty. Our friend Godfrey Bloom, a legendary voice for British sovereignty and a founding member of UKIP, joins Mises Weekends to discuss what happens next. Is globalism truly on the decline? And does the rise of Marine Le Pen mean Frexit may also be possible?
Mar 24, 2017
Per Bylund: Who Built That?
Our guest this week is Professor Per Bylund, a man who studies entrepreneurship for a living. Why is the role of the entrepreneur—the individual who risks capital, time, and energy to build a business—almost completely disregarded by most economists? Does the Austrian focus on individual human action explain why business schools are far more willing to embrace Austrian principles? Can real-world entrepreneurs improve their business skills in traditional university settings, or are much-hyped campus incubators a waste of time? Why do progressives dismiss entrepreneurs with their "You didn't build that" mentality? And how do socialist policies in places like Dr. Bylund's native Sweden kill the spirit that makes us rich?
Mar 17, 2017
Entrepreneurial Super-Intelligence: Praxeology in the Age of A.I.
One of the highlights of our Austrian Economics Research Conference is the interaction between scholars and entrepreneurs, and the new ideas that such conversations spark. Here business consultant Hunter Hastings outlines how technological innovation is already making centralized "designed" systems obsolete, and how artificial intelligence opens up a whole new era of spontaneous order.
Mar 10, 2017
Bastiat: The Unseen Radical
David Hart, editor and librarian at Liberty Fund, joined us in Auburn today to deliver a dynamite lecture on his favorite subject: Frédéric Bastiat the radical. We think we know Bastiat from The Law, but his work in economics and social theory actually spans thousands of pages. And he was a thoroughgoing radical in his personal and professional life, both in his Basque hometown of Bayonne and in the "Babylon" of Paris. Hart makes the case that Bastiat was not only a serious and under-appreciated thinker, but also a proto-Austrian to whom we owe a huge intellectual debt. This is a very entertaining and revealing look at one of the true founders of modern libertarian thought.
Mar 3, 2017
Patrick Byrne: Liberty vs. Submission
Our show this weekend features Overstock.com’s Patrick Byrne, who spoke at our event last weekend in San Diego. Byrne, the rare philosopher-capitalist, discusses the historical origins of liberty and explains the greatest threats to it that exist today.
Feb 24, 2017
Kevin Gutzman: Thomas Jefferson—Revolutionary
Dr. Kevin Gutzman is a history professor at Western Connecticut State University, a New York Times best-selling author, and one of the leading Constitutional scholars in the country today. He and Jeff talk about his new book, Thomas Jefferson—Revolutionary: A Radical's Struggle to Remake America. Dr. Gutzman discusses some of the overlooked ways Jefferson shaped America, and how his radical views are often underplayed by many academics today. Jefferson’s views on self-governance freedom of conscious, and rejection of centralized control made him perhaps the most libertarian Founding Father — one whose ideas are still relevant today.
Feb 17, 2017
Michael Boldin: CalExit and Secession
This weekend, we welcome back Michael Boldin, founder of the Tenth Amendment Center and fearless advocate for political decentralization. Michael joins us next weekend at our event in San Diego, so we decided to ask him about the burgeoning CalExit movement and the Left's newfound appreciation for secession. Think California couldn't survive as an independent country? Think the current US boundaries are written in stone? If so, Michael will change how you think about the possibility of local rule in a deeply divided America. Stay tuned.
Feb 10, 2017
Patrick Byrne: How Tech Can Thwart the State
Overstock.com founder Patrick Byrne, the keynote speaker at our upcoming event in San Diego, is a brilliant innovator and freedom advocate. He holds a PhD in philosophy from Stanford, but understands e-commerce and blockchain technology like an engineer. He also understands Austrian economics, and courageously uses his public profile to make the Hayekian case for a decentralized political, economic, and social order. This presentation is excerpted from his talk given on our Auburn campus discussing the relationship between Austrian theory and the blockchain, and what it means for the eventual demise of government gatekeepers and middlemen.
Feb 3, 2017
Allen Mendenhall: Trump's Supreme Court
Brutus, writing in The Antifederalist Papers, had this to say about judges: There is no power above them, to control any of their decisions. There is no authority that can remove them, and they cannot be controlled by the laws of the legislature. In short, they are independent of the people, of the legislature, and of every power under heaven. Men placed in this situation will generally soon feel themselves independent of heaven itself. Now Trump has announced his nominee for the Supreme Court. Here to explain everything from a libertarian perspective is Allen Mendenhall, a lawyer, PhD, and director of the Blackstone and Burke Center. How will Gorsuch likely rule on important issues, given what we know about him? Is he an activist, an authoritarian, an originalist, or a positivist? Is he too cozy with federal power, or does he show a libertarian Coloradan streak? And, if confirmed, will he occupy a "stolen" seat?
Jan 27, 2017
Trump Goes to Washington
Jeff Deist and Tom Woods discuss everything happening with Donald Trump in Washington, DC—especially the Left-Progressive reaction to it—and analyze Trump from a libertarian perspective.
Jan 20, 2017
John Tamny: Trump's Economics
Our guest this weekend is John Tamny, a writer and editor at Real Clear Markets and Forbes. Jeff Deist and John dissect Trump's economics, especially Trump's reflexive trade protectionism and fetish for exports over imports. They also talk about the policies Trump might get right, especially when it comes to the Fed. John has a great Misesian take on everything the new administration might mean — pro and con — so don't miss this interview.
Jan 13, 2017
Nick Sorrentino: Against Crony Capitalism
We've all heard the term crony capitalism, but what does it mean exactly? We know it involves using government to enrich certain interests, through contracts, lobbying, and rent-seeking. But, crony capitalism is far more: it is a systematic distortion of real capitalism, from local restaurants and real estate all the way up to global commodities and FOREX markets. Here to consider all the angles is our guest Nick Sorrentino, proprietor of AgainstCronyCapitalism.org. Nick and Jeff Deist discuss how huge public companies—think defense giants like Lockheed Martin and Boeing—engage in an obvious form of fiscal cronyism, while Wall Street funds and investment banks engage in what we might call monetary cronyism. And we also discuss how average people reap undue benefits in a million small ways, from selling their homes in artificially overheated markets to making money from small businesses made possible only by bubbles. Is that tech startup really "worth" a $50 million payout to the…
Jan 5, 2017
Patrick Barron: Negative Interest Rates Demystified
We've all heard about negative interest rates, but we may not really understand them-- either conceptually or in terms of bond markets. Here to explain is our returning guest Dr. Patrick Barron, a longtime professor in the graduate school of banking at the University of Wisconsin. How and why would interest rates ever be negative, when everyone prefers current consumption to future consumption? Can the "natural" or market rate of interest ever be negative? What going on in Europe that would make negative-rate government and corporate bonds attractive to investors? Will the ECB be forced to raise rates back into positive territory if Janet Yellen continues to raise the Fed Funds Rate here in the US? And will Congress resist steady rate hikes that could radically spike its annual budget outlay for debt service?
Dec 30, 2016
Ralph Raico: Liberalism Defined
Our last show for 2016 is bittersweet, featuring a lecture by our great friend and Senior Fellow Ralph Raico. Dr. Raico, who died earlier this month, was an intellectual giant known for his brilliant — and often revisionist — understanding of history. Speaking at Mises University in 2009, Dr. Raico delivered a witty and razor-sharp exposition of what liberalism really means. We know you'll find it worthwhile to spend an hour during this holiday weekend with the great mind of Ralph Raico.
Dec 23, 2016
Ronald Stöferle: Austrian Investing
As our great friend Dr. Bob Murphy said on an earlier show, knowledge of economics is necessary—but not sufficient—to be be a good investor. A new book entitled Austrian School for Investors, co-authored by our guest, Ronald Stöferle, bridges the gap between understanding the economy and understanding how to invest money, in a highly readable and succinct format. The book's co-authors are all economists and financial professionals, versed in both worlds. And, they've written a very different kind of investment book, one that doesn't tout stocks, sectors, industries, or complex timing strategies. It doesn't recommend specific equities or bonds. Instead, it's a fantastic primer on Austrian economics and its application to financial markets. By understanding money, value, interest rates, business cycles, and capital from an Austrian perspective, the smart investor knows far more about fundamentals than many fund managers and investment advisers. Most of those managers and adviser…
Dec 16, 2016
John Williams: The Federal Government's Fake News
Statistics issued by the federal government about the economy—from CPI to GDP—are fake, and our guest John Williams of Shadowstats.com explains how and why. John is a vocal critic of modern economic reporting, which is manipulated to make the economy appear stronger than it is. So, he devoted his professional life to telling the real story, through statistics he painstakingly compiles himself. And, his statistics paint an alarming picture: virtually all "growth" in the US economy since the Crash of '08 has been artificially engineered by the Fed, while the risk of debt contagion has increased. Jeff and John discuss the "Fed tax," what a radical increase in the monetary base means for your financial future, and whether Janet Yellen will be forced to resort to more QE in 2017. This is a must-hear interview if you're interested in sober economic reality.
Dec 9, 2016
Yuri Maltsev: Why Socialism Endures
The western media's fawning treatment of Fidel Castro demonstrates the enduring mystique of socialism—while recent Harvard and Rasmussen polls suggest that perhaps half of young Americans hold unfavorable attitudes toward capitalism. No matter how many millions perish in collectivist bloodbaths, the Left remains committed to its ideology of radical egalitarianism and enamored of murderous revolutionary figures like Che Guevara. Our great friend Yuri Maltsev, a victim of Soviet totalitarianism in his youth, joins us to explain how and why westerners still don't understand what socialism really means. He recounts his many trips to Cuba, and demolishes the myths surrounding that country's vaunted "healthcare" and "education" systems. He explains how socialism actually produces a superclass of elites and a form of socio-economic apartheid, rather than egalitarian nirvana. And he reminds us that the romantic vision held by western elites is best defeated by those who have lived through t…
Nov 25, 2016
Justin Raimondo: What Trump Means
Justin Raimondo, editorial director of Antiwar.com, joins Jeff for a great discussion of what Trump's election really means for libertarians. Does 2016 mark the end of globalism's inevitability, or are Brexit and Trump mere speed bumps for progressive elites? Does Trump represent a real threat to the War Party, or will he succumb to neoconservative control over foreign policy? What are the best-case and worst-case scenarios for libertarians in the first year of a Trump administration, and will his cabinet picks contain any happy surprises? Nobody is better suited to untangle the Trump uprising than the no-holds barred Mr. Raimondo. Stay tuned. Click here to read Justin's article "How We Will Win" on Antiwar.com.
Nov 18, 2016
James Rickards: End Game for the Global Economy
On Mises Weekends this week, our friend James Rickards joins Jeff to discuss The Road to Ruin, his latest book outlining what financial elites have planned for the next financial crisis. Rickards highlights a number of policy tools governments and central bankers have created for themselves, and points to their handling of recent crises in Cypress and Greece bail-in approach as patterns for the rest of the world. But, with the Federal Reserve and their peers around the world still unable to normalize their balance sheets following 2008, the real question is: “who is going to bail out the central banks?” Jeff and Jim discuss the answer to that question—and how people can protect themselves—in an interview you won’t want to miss.
Nov 11, 2016
Allen Mendenhall and Jeff Deist: Election Postmortem
On this week's Mises Weekends, Jeff is joined by Allen Mendenhall of the Blackstone & Burke Center for Law and Liberty to discuss the aftermath of Donald Trump's surprising victory in this week's presidential election. Jeff and Allen discuss questions such as: Will Trump's election genuinely transform American politics? Why aren't progressives cheering the Republican Party being led by a cosmopolitan New York City protectionist? And, should libertarians celebrate the defeat of the Bush and Clinton political dynasties? Plus, Allen gives his analysis of Trump's proposed Supreme Court justices, and whether the importance of the Supreme Court is overstated by conservatives and libertarians.
Nov 4, 2016
Jeff Deist: A Libertarian View of the Election
On Mises Weekends, this week, Jeff Deist joins Andy Duncan of the Fin Tales podcast to talk about next week's Presidential election. Going beyond the electoral horse race, Jeff and Andy also discuss the impact each candidate could have on the Federal Reserve, gold prices, and US foreign policy.
Oct 28, 2016
Nomi Prins: The Left/Progressive Case Against the Fed
Our guest this weekend is Nomi Prins, a prolific writer and speaker on the subjects of central banking, financial markets, and Wall Street cronyism. She is a former managing director at Goldman Sachs and Bear Stearns, but left investment banking to speak out against what she perceives as global financial malfeasance by commercial, investment, and central banks. Nomi is a dedicated progressive who supported Bernie Sanders, but she's also a harsh critic of the Fed and sympathetic to Austrian depictions of malinvestment and artificially-created bubbles. Nomi and Jeff discuss the role of central banks in creating an unworthy financial elite, the revolving door between the Treasury Department, the Fed, and banks like Goldman Sachs, how the Fed is necessarily and unavoidably political, how central banks historically have financed interventionist wars, and how the Fed could be the great populist issue that further unravels the Left/Right paradigm. Learn more about Nomi at NomiPrins.com.
Oct 21, 2016
Dr. Jeffrey Herbener: Demystifying the Fed
Even well-read fans of Austrian economics often have a hard time understanding and conceptualizing what the Fed really does. So we asked our good friend Dr. Jeffrey Herbener to join us and make sense of it all. We cover the basic blocking and tackling of central bank mechanics: how commercial bank reserves are created, the difference between the monetary base and the money supply, and how the Fed Funds rate impacts lending and the structure of production. We consider how Austrian business cycle theory describes the distortions created by artificially low interest rates, and how interest rates ought to operate as price signals. Finally, we discuss how early recipients of newly created money and credit benefit in ways that ordinary citizens don't. This show is a great primer on the Fed from an Austrian perspective.
Oct 7, 2016
Lew Rockwell: Our Prospects are Bright
Lew Rockwell, Chairman and Founder of the Mises Institute, delivered a moving message at our event in Boston, last week. Entitled "Our Prospects are Bright", Lew's talk serves to remind us that the future of true liberalism was much darker during the life of Ludwig von Mises. For most of the 20th century, only a handful of libertarian activists existed. Today, millions around the world interact and spread the message using digital platforms that would have been unthinkable even when Mises died in the early 1970s. Our ideas grow in popularity, while the tired Democrats and Republicans struggle to maintain legitimacy and relevancy. Rather than lament politics and the state, we should be heartened by how far we've come—and go forward confidently.
Sep 30, 2016
Jeff Deist: The Broken State of Modern Economics
On Mises Weekends this week, Jeff joins our friend John O'Donnell at Power Trading Radio to dive deeper into the the broken state of modern economics. Along with touching on what is really being taught in American Econ programs today, Jeff and John discuss the college federal loan scam, and the unique role the Mises Institute plays in economic education.
Sep 23, 2016
Joe Salerno: Economics is Broken
On the heels of the Fed's annual meeting in Jackson Hole, "extraordinary" monetary policy may be the new normal. Janet Yellen refuses to raise rates for now, and Former Chair Ben Bernanke openly questions whether the Fed's Treasury-laden balance sheet—swollen after successive rounds of QE—will ever be unwound. Real growth is flat, real incomes are stagnant, inflation is higher than the government admits, and millions of Americans still haven't recovered from the Crash of '08. Is economics broken? Have we entered a new era of technocratic impotence, where mainstream economists simply have run out of monetary policy tools? Can we undo the damage caused by the Fed's relentless attack on savers? Do most professional economists understand the role of interest rates at all? And what kind of revolution is needed to save economics as a profession? Dr. Joe Salerno, professor of economics and Academic VP of the Mises Institute, joins us to makes sense of it all.
Sep 17, 2016
Jeff Deist: The Role of the Mises Institute
The Mises Institute is in Asheville, North Carolina, this weekend, celebrating our Supporters Summit. We thought you might enjoy hearing a talk that Jeff Deist gave entitled the "The Role of the Mises Institute." Here's a hint: it's not politics, it's not public policy, and it's not lobbying. But, rather, to be a school — a new kind of school — for the 21st century.
Sep 9, 2016
Mark Thornton: Against Crony Trade Deals
Our own Senior Fellow Dr. Mark Thornton recently appeared on Press TV to make the libertarian case for real free trade, as opposed to unholy negotiated trade deals like the Trans-Pacific Partnership. Brent Budowsky, a journalist for The Hill newspaper in Washington DC, also joined the show to present a pro-union, left-populist perspective. They both conclude that complex trade schemes, which often involve creating supra-national regulatory bodies, are bad for America and the economy — but for totally different reasons.
Sep 2, 2016
Godfrey Bloom: How Brexit Won
Our friend and former member of the European Parliament Godfrey Bloom rejoins us for a lively postmortem on the Brexit vote. It's been two months, and the sky hasn't fallen in the UK. In fact, markets are up—and new Prime Minister Theresa May promises that a withdrawal treaty will be negotiated in due time. Mr. Bloom dismisses this, pointing out that her new administration could act swiftly and unilaterally. He also point out that the Germans are unlikely to deny BMWs to British buyers, just as French wineries are unlikely to suspend shipments of champagne across the Channel. In other words, trade can be accomplished without bureaucratic help. All the common market needs is buyers and sellers, not complex treaties and byzantine regulations. How did "Leave" forces, overwhelmingly represented in the British countryside, defeat the bureaucratic class in London? And what does Brexit mean for the march of globalism generally? Mr. Bloom is an engaging speaker and a thoroughly pro-trade Ro…
Aug 26, 2016
Tom DiLorenzo: What Socialism Really Is
Dr. Tom DiLorenzo has a fantastic new book out entitled The Problem with Socialism, and his talk summarizing it was a great hit recently at Mises University. This is Tom at his best: witty and provocative, but always bravely revisionist when it comes to skewering sacred cows like welfare, minimum wage, and progressive income taxes. His book—and this talk—are a must for anyone who wants a concise and easy refutation of the enduring myths surrounding socialism.
Aug 19, 2016
Jeff Deist: Libertarian Strategy
Jeff Deist discusses libertarian strategy with Adam Camac and Daniel Laguros of the Wake Up Call podcast. How can libertarians achieve a freer society, given the depressing state of politics, in both America and abroad? Jeff shares his thoughts on Liberland, the Free State Project, and how modern technology has become “the great leveler” in the battle of ideas.
Aug 12, 2016
Judge Andrew Napolitano: What the 1st Amendment Really Means
Judge Napolitano, the great constitutional scholar and legal analyst for Fox News, recently gave a dynamite talk to our Mises U students on the real meaning of the 1st Amendment. While many protections in the Bill of Rights have been almost completely eviscerated by a lawless federal government, the Judge finds reasons to be optimistic about the current state of free speech in America. In fact, he suggests that 1st Amendment freedoms actually may be expanding—even as much of the Constitution becomes a dead letter. This is a compelling talk you won't want to miss.
Aug 5, 2016
Sascha Klocke and Louis Rouanet: Can Austrian Economics Save Europe?
Two of the Institute's Fellows—a Frenchman and a German—join Jeff Deist for a freewheeling discussion of the political and economic situation in Europe. Can Austrian economics revive Europe's liberal tradition, or will statist impulses thwart any hope for liberation from Brussels? And, can the Mises Institute and its fellow travelers have an impact on academia on the continent? Sascha and Louis see hope for optimism, despite the bad news that seems to dominate European media.
Jul 30, 2016
Mises Weekends Live! with Lew Rockwell
Recorded live at Mises University 2016 at the Mises Institute in Auburn, Alabama. Jeff Deist interviews Mises Institute founder and Chairman, Lew Rockwell. Includes a Question and Answer period. Recorded on 30 July 2016.
Jul 22, 2016
Robert Higgs: The State is too Dangerous to Tolerate
Our week-long Mises University begins this Sunday night, and all keynote lectures will stream free via mises.org/live or our Facebook page. The week kicks-off with Tom Woods Sunday night, followed by Judge Andrew Napolitano Monday evening. So plan on tuning-in: the full schedule is here! Dr. Robert Higgs delivered one of our most popular and most-watched Mises U speeches in 2013, a terrific exposition entitled "The State is too Dangerous to Tolerate". It's an intellectual tour de force from Higgs, where he demolishes many of the popular misconceptions about (and justifications for) the state in one compelling talk. This is Dr. Higgs at his most formidable, and well worth an hour of your time, this weekend. It's the kind of content that you won't hear anywhere else.
Jul 15, 2016
Jeff Deist: Hillary, Trump, Brexit, and BLM
Jeff joins Daniel Ameduri of FutureMoneyTrends.com for a no holds barred discussion of current events, including Trump vs. Hillary, Gary Johnson's chances, the symbolic importance of Brexit, and why the leftwing focus of groups like Black Lives Matter will make society more violent, not less.
Jul 8, 2016
Jeff Deist: Whatever Happened to Peace Officers?
Jeff is traveling this weekend, but in light of Thursday night's shooting of police officers in Dallas, we decided to run a talk he gave two years ago entitled, "Whatever happened to Peace Officers?" The growth of the state, the militarization of police forces, and the increase in violence both by and against officers are interrelated—but, as libertarians we should avoid the easy emotional cliches and sound-bite answers. We should be better than the left and right, who hijack every tragedy in service of their narrative. Rodney King famously asked, "Why can't we all just get along?" It starts with dialing back state power.
Jul 1, 2016
Michael Boldin: Unyoking Ourselves
This weekend, Michael Boldin from the Tenth Amendment Center joins Jeff Deist for a discussion of pure tactics and strategy. In the wake of Brexit, do libertarians have a real opportunity to make the case for breaking away? Is it time to stop trying to convince millions that liberty is better, and start unyoking ourselves? Can secession and nullification movements really work against political elites? And how do we get started at the local level? Michael is the perfect guest to answer these questions.
Jun 24, 2016
Ryan McMaken: The Brexit Earthquake
Ryan McMaken, editor of Mises.org, joins Jeff to figure out what the shocking Brexit vote really means. Are secession movements and political decentralization always good for liberty? Why do some libertarians disagree? Why does the Left love centralized state power, when in fact progressives could enact their entire agenda here and now—if only in certain states like California? Is a growing tide of anti-globalist sentiment necessarily bad for Hillary and good for Trump? And, will Brexit lead to much bigger implosions, such as an actual Eurozone nation leaving the EU and resurrecting its old currency? For further reading see Murray Rothbard's journal article "Nations by Consent: Decomposing the Nation-State" and Ryan McMaken's book Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.
Jun 17, 2016
Godfrey Bloom: What Brexit Means
The UK is poised to vote on Brexit next week, deciding for the first time since 1975 whether to leave the European Union. The Brexit vote mirrors populist, nationalist, and anti-globalist trends around the world, and if successful it raises serious questions about the viability of the Euro itself. The whole world is watching, and markets are nervous: rarely is globalism so directly challenged. Here to discuss Brexit is Godfrey Bloom, the great un-PC British politician who was a member of the European Parliament—where he sometimes quoted Rothbard to an uneasy audience of continental technocrats. Jeff Deist and Bloom discuss the odds of whether the "leave" campaign will be successful, whether the ECB's failure to prevent sovereign debt crises in Europe influences the vote, whether Brexit would cause actual Eurozone countries to follow suit, and what Mises had to say about theoretically taking self-determination and secession down to the individual level. For further reading, see "Th…
Jun 10, 2016
The Trouble with Conservatives
Conservatives once stood for judicious use of government power and minding our own business in foreign affairs. Today, 100 years after the beginning of the progressive revolution, conservatives don't conserve anything. They vote for big-government schemes, favor globalism over real capitalism, and advocate an aggressive foreign policy that installs American troops around the globe. They've lost any claim to the mantle of "limited government," and lost every battle concerning abortion and social issues. Worst of all, Republicans have created a bloated jobs programs for themselves—Conservatism, Inc.—that shows nothing but contempt for its own voting base. Is the GOP the next Whig party, consigned to history? For further reading, see Murray Rothbard's The Betrayal of the American Right, Justin Raimondo's Reclaiming the American Right, and "The Coming Conservative Dark Age" by Matthew Continetti. See also the Mises Institute's online archives of The American Mercury (1936–1943).
Jun 3, 2016
Jeff Deist: The Trouble with Progressives
Mises defined liberalism as rooted in property. Modern progressives and social justice warriors—mislabeled as "liberals"—attack property as an impediment to their program of radical egalitarianism. In their view, all human conduct must be viewed through the filters of identity politics, privilege, and undefinable concepts of social justice. Disagree with them and you'll find your campus building or political rally attacked by angry demonstrators who view dissent as hate. Where does libertarianism fit into this equation? Should we adopt the premises, language, and goals of progressives, but argue for achieving them through capitalist means? Should we inform our worldview using utilitarianism? Should we side with SJWs in the culture wars? Or, should we make the case for a nonpolitical world, one grounded in Misesian private property and Rothbardian natural law ethics? Jeff Deist makes the case that the real issues confronting us are war and peace, central banking, and state power…
May 27, 2016
Tom Woods: Rothbard Changed my Mind about War
It's Memorial Day weekend, a time when we (hopefully) reflect on war rather than celebrate it. So, it's the perfect opportunity to revisit an inspiring antiwar talk from our own Senior Fellow Tom Woods. You may not know it, but Tom was once a neocon who considered the libertarian position of noninterventionism unrealistic and naive. But, his mind was changed by none other than the late Murray Rothbard, who convinced Tom that peace and liberty cannot be severed, that empire abroad leads to socialism at home, and that foreign policy should be front and center in a libertarian worldview.
May 20, 2016
Jeff Deist: Surviving Election Season
This week, Jeff Deist joins Joshua Bennett on the Patriots Lament show (KFAR AM 660, Fairbanks) and gives his thoughts on the 2016 election. Jeff discusses how the ultimate outcome of any election season is greater division among society, and argues that libertarians should focus on making the case for decentralizing power. Liberty will never come from the White House, but from winning over the hearts and minds of our friends and neighbors in our own communities.
May 13, 2016
John O'Donnell: How Central Banks Affect Culture
This weekend, Jeff Diest and John O'Donnell discuss central banking and culture. We tend to think of central banking as a dry subject for professional economists, rather than a cultural and even moral issue. But the Fed and other central banks create huge moral hazards, degrade longstanding social mores like hard work and thrift, and encourage economic hedonism today at the expense of tomorrow. Every healthy society is built on capital accumulation and building for a future beyond lives, whereas central banks encourage consumption and turn us into zombie debtors. What happens to the future when ultra-low interest rates mean saving is for chumps? And why have we allowed Greenspan, Bernanke, and Yellen to hide the Fed's harmful cultural effects behind a wall of technical Fed-speak?
May 6, 2016
Jim Rickards: The New Case for Gold
Thirty-five years ago, Ron Paul and Lewis Lehrman published The Case for Gold, their minority report from Reagan's gold commission. Today, Jim Rickards has written The New Case for Gold, an uncompromising call for using gold as money and reestablishing a gold standard for central banks. In this wide-ranging interview, Jeff Deist and Jim Rickards discuss gold in the context of current geopolitics and enduring myths about monetary growth. While the "anti-gold reflex" is strong among older generation monetary economists in the west, a new gold-friendly order is emerging in Asia. Jeff and Jim even discuss whether Hillary will be indicted, leading to a Joe Biden/Elizabeth Warren ticket. This is a fascinating interview that you won't want to miss.
Apr 29, 2016
James Grant: The United States of Insolvency
Our guest this week is James Grant, founder and editor of Grant's Interest Rate Observer. Jeff and Jim discuss Jim's recent cover article in Time magazine, and the reaction it received from Krugman and others on the left. They also discuss comments recently made by Ben Bernanke, who argued in favor of the Fed looking into helicopter money. When did fiscal and monetary sanity become a radical position in America?
Apr 22, 2016
Daniel McAdams: How the War Party Works
Our guest is Daniel McAdams, head of the Ron Paul Institute for Peace and Prosperity. Daniel is a foreign policy expert, having worked for many years on Capitol Hill and as an election monitor in eastern Europe. Daniel and Jeff discuss the role Dr. Paul played in creating the noninterventionist populism visible in both the Trump and Sanders campaigns, and how the public now sees the Iraq war as a mistake. Daniel also discusses the depth and reach of the "war party" lobby, marked by well-funded think tanks, a revolving door of hawkish congressional staffers, and brazen manipulation of the federal budget by defense contractors. How do neoconservative interests get their hooks into members of Congress? How do people like Bill Kristol (who never seems to be right about anything), maintain their grip on the US foreign policy establishment? And, how do ordinary people reclaim the narrative from those who would recklessly expand US intervention in Syria and Iran?
Apr 15, 2016
Dr. Michel Accad: Can Austrian Economics Save Medicine?
At this year's AERC, Dr. Michel Accad, who practices cardiology and internal medicine in San Francisco, presented a fascinating paper fusing Misesian insights with medicine. Dr. Accad highlights how viewing "the body as a machine" has played a major role in the rise of medical paternalism and one-size-fits all treatment. Dr. Accad instead proposes a praxeological framework for medicine, with health being defined "as the state that is present when one's physical and mental conditions allow the pursuit of one's chosen ends." Dr. Accad's talk is a brilliant application of Austrian theory to real world practice.
Apr 8, 2016
Individualism in the Age of the Smart Machine
Hunter Hastings, one of the leading business and marketing consultants, presented a visionary paper at this year’s AERC on “Individualism in the Age of the Smart Machine”. Weaving Austrian insights together with firsthand knowledge of technological innovation, Hunter outlines how the technology of the “cognitive assistant” can help empower entrepreneurship and usher in a new age of individualism.
Apr 2, 2016
Dr. Guido Hülsmann: Nation, State, and Borders
Jörg Guido Hülsmann joins Jeff Deist in studio this weekend to discuss the ongoing migrant crisis in Europe. They consider what Mises, Rothbard, and Hoppe have to say about borders, migration controls, organic nations, and culture. Dr. Hülsmann also explains the critical difference between nation and state, and why so-called "public property" should be controlled for the benefit of taxpayers. Are the arguments for the free movement of goods necessarily applicable to immigrants? Are libertarians overly dismissive of culture arguments, narrow-mindedly seeing individuals as bound to each other only by market exchange? And is the modern version of open borders just a big-government construct?
Mar 24, 2016
Jeff Deist and Jay Taylor: Banks are Dangerous
Central banks — and central bankers — are in uncharted waters. They don't know how to create economic growth, they don't know how to fight the great bogeyman of deflation, and they don't know how — or if — they'll ever be able to return to a time of "normal" monetary policy. Their pretense of knowledge, of being able to effectively control currencies used by billions of people, is coming to an end. But it's not just an academic issue — all of us are affected by the possibility of negative interest rates, prohibitions on cash, and bank bail-ins. Will you be able to get cash out of your bank or money market account if the economy suffers another crash like 2008? Will governments force us into cashless, digital-only payment systems, tracking our every purchase and creating black markets in the process? Will you have to pay your bank, in the form of negative interest rates, for the privilege of holding your money? And will your deposits take a haircut if your bank suffer…
Mar 18, 2016
Jeff Deist: Austrian Economics vs. Keynesian Orthodoxy
Earlier this week, Jeff joined Dennis Tubbergen of Everything Financial Radio to talk Austrian economics and the bizarre world of negative interest rates. Jeff explains how the unprecedented actions of central bankers have helped sparked renewed interest in Austrian economics around the world, as Keynesian orthodoxy spirals into endless rounds of demand-side monetary stimulus. Can the Fed, the ECB, the BOJ, and other central banks keep this up indefinitely? Can central bankers rebut Mises, Rothbard, and Hayek, who understood that a sound economy must be grounded in savings and investment? And, should negative interest rates be viewed as a form of insurance?
Mar 11, 2016
Hans-Hermann Hoppe: Why Democracy Fails
On this week's episode, we feature a past talk given by Hans-Hermann Hoppe highlighting some of the key points he makes in his book Democracy: The God That Failed. The subject seems particularly topical as American elites have become increasingly comfortable dropping the façade of democracy, with the Washington establishment becoming increasingly transparent in their intentions to undercut the success of populist campaigns, such as Donald Trump’s. Hoppe’s lecture not only shows how democratic elections often lead to bad results, but illustrates how political democracy is often incompatible with human liberty. True democracy is instead found in the marketplace, with voluntary actors free of the threat of government force.
Mar 3, 2016
Matt McCaffrey: Revisiting Rothbard
Murray Rothbard would have celebrated his 90th birthday this past week, so the Mises Institute held a reception in his honor at the ISFLC conference in Washington DC. Joining us to explain why Rothbard remains so relevant today is University of Manchester professor Matt McCaffrey, a former Mises Institute Fellow and editor of our new Rothbard Reader. Matt discusses Rothbard's amazing range of interests and knowledge, his relationship with Mises, his great opus Man, Economy, and State — written in his early 30s — and his enduring legacy in a sea of forgotten mainstream economists. To read Professor McCaffrey's and Professor Joe Salerno's introduction to the Rothbard Reader, click here. And order your copy here.
Feb 26, 2016
Jeff Deist: Socialist Left, alt-Right, and the Myth of Democratic Consensus
This weekend Jeff recaps his recent talk in Houston entitled "Socialist Left vs. alt-Right: What it Means for Liberty"— a talk which generated plenty of comments from libertarians, progressives, and the alt-Right. Jeff discusses why we should celebrate the death of supposed "democratic consensus," why the progressive left doesn't care about winning votes, how the alt-Right turns identity politics against social justice warriors, and what libertarians should learn from populism and even demagoguery.
Feb 19, 2016
Paul-Martin Foss: The Bizarre World of Negative Interest Rates
The concept of negative interest rates, already adopted in Japan, is now under serious consideration in Europe and the US. Here to make sense of this bizarre environment is Paul-Martin Foss, head of the Carl Menger Center and a regular contributor to mises.org. Paul-Martin explains how Mises and Rothbard understood the function of interest rates, as opposed to how central bankers use interest rates as a tool to stimulate aggregate demand. Can our economic problems really be fixed by forcing banks to make more uneconomic loans to already-insolvent borrowers? And can individuals be forced to spend money by punishing them for leaving it in the bank? Stay tuned.