Commentary: Recent Episodes
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In this week's episode, Mark looks at PPI—the Producer Price Index—which provides evidence of the costs for suppliers in various industries, macroeconomic instability, and the potential for economic recovery. Here, very low prices provide the potential for recovery; and rising prices can indicate both recovery in the economy, as well as inflationary pressures moving forward. The Covid Bubble and restrictions caused a 50% increase in producer prices, and since the peak in 2022, PPI has only corrected about 10%.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
"Producer Price Index by Commodity: All Commodities" (PPIACO): Mises.org/Minor_PPI
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at county and city-level secession movements and what it means for political self-determination. In a recent article, Ryan McMaken highlighted renewed calls for Staten Island to secede from New York City, but other recent examples include attempts by taxpayers in areas of Georgia and Alabama to break away from the control of mismanagement of local governments. Tho and Ryan look at the value these initiatives have, and the arguments used to try to stop them.
Recommended Reading "Let Staten Island Secede!" by Ryan McMaken: Mises.org/RR_150_A
Download Anatomy of the State for free at Mises.org/Anatomy
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
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In this episode, Mark examines Fed Chairman Jay Powell's recent confession that the Fed is "navigating by the stars on a cloudy night." This reveals the fundamental methodological weakness of the Fed's economic policy and mainstream economics in general ("data dependency"). In contrast, it also reveals the strengths of Austrian economics, economic theory, and the self regulation of the free market. Mark suggests that we all be prepared for big negative surprises in the economy and additional Federal Reserve and government power grabs.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Recommended Reading"What the Central Bank Cartel has Planned for You" by Thorsten Polleit: Mises.org/Minor34A
"Transparency or Deception: What the Fed Was Saying in 2007" by Mark Thornton: Mises.org/Minor34B
Matthew Mohlman joins Good Money with Tho Bishop to discuss his work with Monument Ventures. Matthew and Tho discuss the need to build better alternatives to woke financial institutions, and the limit of political solutions to address the problem.
Join Bob Murphy, Patrick Newman, Jonathan Newman, and Murray Sabrin in November for a Mises Circle in Ft. Meyers, FL on The White House, the Fed, and the Economy. Use promo code Tampa23 for $10 off registration.
Matthew's Article on JPMorgan's Progressive, Anti-Faith Agenda: Mises.org/GM21aOn Politically-Motivated 'De-Banking': Mises.org/GM21bVivek Ramaswamy on ESG: Mises.org/GM21cMonument Ventures: Mises.org/GM21dGood Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop talk about the Chinese economy. While some of the left see China as a model for governing, those on the right often assume their rise relative to the US is inevitable. Ryan and Tho look at the recent challenges to the Chinese economy.
Recommended Reading"The Chinese Economy: Market Socialism with Chinese Characteristics" by Antonio Graceffo: Mises.org/RR_149_A
"China Enters the Doom Loop" by Peter St. Onge: Mises.org/RR_149_B
Download Anatomy of the State for free at Mises.org/Anatomy
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
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Ryan and Zachary rank the GOP candidates at the debate. They range from "least terrible" (Ramaswamy) to "utterly awful" (Haley and Pence).
Be sure to follow War, Economy, and State at Mises.org/WES.
In this episode, Mark explains why we need a Crash (or very Hard) Landing in the US economy and the world economy. Specifically, why is a crash landing better to resolve the malinvestments caused by the Fed? Why is a crash landing better in many ways for the productive class of workers and savers? And, how would a crash landing place much of the pain and the overall burden on the rich, politically-connected classes?
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Additional Resources "The Fed's Real Mandate": Mises.org/Minor33A
"Black Hole or Shock Absorber: How Does a Free-Market Economy Respond to Crises?": Mises.org/Minor33B
"The REAL Solution to the Coming Economic Crisis": Mises.org/Minor33C
"Eliminating Economic Crises": Mises.org/Minor33D
"Austerity: A Real Solution to Help Heal the US Economy": Mises.org/Minor33E
"US Labor Market: Help Wanted!": Mises.org/Minor33F
"After the Boom Must Come the Bust" (Radio Rothbard): Mises.org/Minor33G
"Here's What Mounting Corporate Layoffs Tell Us about the Economy" (Radio Rothbard): Mises.org/Minor33H
On this episode of Good Money with Tho Bishop, Connor O'Keeffe joins the show to talk about his recent work on the Mises Wire. Tho and Connor discuss the role government incompetency played in the horrific tragedy of the Maui wildfires, as well as the bankruptcy of one of America's largest trucking companies.
Join Bob Murphy, Patrick Newman, Jonathan Newman, and Murray Sabrin in November for a Mises Circle in Ft. Meyers, FL on The White House, the Fed, and the Economy. Use promo code Tampa23 for $10 off registration.
Connor's Article on the Maui Fires: Mises.org/GM20a Connor's Article on Trucking and Labor Laws: Mises.org/GM20b
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
Ryan and Tho examine how the US regime is in the midst of its latest panic over public faith in the state's legitimacy. This is why we keep hearing about misinformation, insurrection and "threats to democracy."
Recommended Reading "'Antidemocratic' Just Means 'Something the Regime Doesn't Like.'" by Ryan McMaken: Mises.org/RR_148_A
"Seditious Conspiracy Is Not a Real Crime" by Ryan McMaken: Mises.org/RR_148_B
"The State Protects Itself While Crime against Ordinary People Surges" by Ryan McMaken: Mises.org/RR_148_C
"Fewer than Half of Violent Crimes Are Solved in America" by Ryan McMaken: Mises.org/RR_148_D
Download Anatomy of the State for free at Mises.org/Anatomy
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
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Will we get a soft landing or a hard landing in the economy? Or, should we hope for a crash landing? Mark Thornton explains.
See also "Soft Landing? Not Likely" featuring Bob Murphy and Jonathan Newman on the Human Action Podcast: Mises.org/HAP407
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Good Money with Tho Bishop, Dr. Murray Sabrin joins the show. Dr. Sabrin shares his story of how he became an Austrian economist and discusses his analysis predicting a recession later in the year. Tho and Dr. Sabrin also talk about this week's anniversary of Nixon closing the gold window.
Join Dr. Sabrin in November for a Mises Circle in Ft. Meyers, FL on The White House, the Fed, and the Economy. Use promo code Tampa23 for $10 off registration.
Dr. Sabrin's Article on the Coming Recession: Mises.org/GM19a
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Mises Summer Fellow Manuel Garcia Gojon to discuss the recent strong performance by Argentinian libertarian presidential candidate Javier Milei. The three discuss the economic conditions of Argentina fueling the self-proclaimed anarcho-capitalist's political rise, what separates him from other populist figures, and some of his proposed policies - such as abolishing the country's central bank.
Recommended Reading "Will Argentina's Next President Be a Rothbardian?" by Manuel García Gojon: Mises.org/RR_147_A
"An Anarchist’s Pragmatic Plan of Government for Argentina" by Manuel García Gojon: Mises.org/RR_147_B
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
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In this episode, Mark updates his early March 2023 episode (Mises.org/Minor11) on the high price of toilet paper. He shows how economic changes, so far, in 2023 seem to have vindicated his forecast of lower toilet paper and paper towel prices. It also demonstrates how the market process works on a minor scale, even when large determinants like Amazon, Covid, and the US home construction industry get tangled up with politicians and bureaucrats.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
The Biden Administration is attempting to do a victory lap for "Bidenomics", but the public isn't buying it. On this episode of Good Money, Dr. Jonathan Newman joins the show to talk about his doubts of a "soft landing" for the economy, and the lies being told to sell Central Bank Digital Currencies.
Jonathan Newman's article on CBDCs: Mises.org/GM18a Jonathan Newman's article on "Soft Landing" headlines from 2007: Mises.org/GM18b
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Econ Bro, the founder of Nigerian Liberty, which offers seminars in Austrian economics in Nigeria. The three discuss the inflation crisis in Nigeria, the cultural consequences of rising prices in the country, and the costs of the state capture of its petrol industry.
To learn more about Nigerian Liberty, visit NigerianLiberty.com.
View Econ Bro's Substack at econbro.substack.com.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
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In this week's episode, Mark reviews what people have said about Fitch's downgrade of US government debt. Mark sees it as a good thing, but not good enough. The "minor issue" in the latest debt ceiling agreement is ignored by the mainstream media: politicians suspended the debt ceiling into 2025, rather than raising it to some arbitrary, higher figure.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the latest indictment of Donald Trump. While many are exhausted with the theater of modern politics, DC's escalating attacks reveal the state's true anatomy. Any challenge to the state's legitimacy — like questioning an election — must be crushed.
Recommended Reading "The United States vs. Donald J. Trump" by Tho Bishop: Mises.org/RR_145_A
"If Congress Were Genuinely Interested in Democracy, They Would Welcome an Election Commission" by Tho Bishop: Mises.org/RR_145_B
"Trump's Potential Legacy: 50 Million+ Enemies of the State" by Tho Bishop: Mises.org/RR_145_C
"America's Elites—Not Trump—Are Responsible for Undermining American Democracy" by Tho Bishop: Mises.org/RR_145_D
Download Anatomy of the State for free at Mises.org/Anatomy
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
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On this episode of Good Money, Tho is joined by Tate Fegley of Montreat College. Dr. Fegley talks about his lectures from Mises University on policing, AI, and the deep state, and the important topic of economic calculation that connects the three. In the final segment, Tho looks at the economics of college football in the aftermath of FSU's threat of secession from their conference.
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
Ryan and Tho take a close look at Rothbard's timeless takedown of state violence, 'The Anatomy of the State' in this special live edition of Radio Rothbard, recorded at Mises University 2023.
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In this week's episode, Mark discusses the record levels of credit card debt and how it is a major contributing factor to economic pain from the Fed's impact of causing higher prices for consumer goods. This is expected to intensify when the recession officially hits.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
This week Mark invites you to explore the Minor Issues archives. We have produced about a half a year's worth of short audio commentaries about the economy, and we are grateful to our listeners for their feedback. Topics range from the price of toilet paper to macro-business cycle topics, but our specialty is highlighting issues that the mainstream media ignores or misrepresents as insignificant. Thank you for listening.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Ryan McMaken and Zachary Yost look at the many factors behind Ukraine's failure to defeat Russia or move closer to NATO membership. Ukraine is sadly caught between a cynical NATO and a Russia that is in it for the long haul.
Be sure to follow War, Economy, and State at Mises.org/WES.
Mark Thornton joins Ryan and Tho on Radio Rothbard to take a closer look at the state of the US dollar and how price inflation and economic crises are likely to play out in the months and years ahead.
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
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Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.
The public memory is short. We forget that, from the beginning of the Industrial Revolution in the mid-18th century until the beginning of World War II, prices generally went down, year after year. That's because continually increasing productivity and output of goods generated by free markets caused prices to fall. There was no depression, however, because costs fell along with selling prices. Usually, wage rates remained constant while the cost of living fell, so that "real" wages, or everyone's standard of living, rose steadily.
Virtually the only time when prices rose over those two centuries were periods of war (War of 1812, Civil War, World War I), when the warring governments inflated the money supply so heavily to pay for the war as to more than offset continuing gains in productivity.
We can see how free market capitalism, unburdened by governmental or central bank inflation, works if we look at what has happened in the last few years to the prices of computers. A computer used to have to be enormous, costing millions of dollars. Now, in a remarkable surge of productivity brought about by the microchip revolution, computers are falling in price even as I write. Computer firms are successful despite the falling prices because their costs have been falling, and productivity rising. In fact, these falling costs and prices have enabled them to tap a mass market characteristic of the dynamic growth of free market capitalism. "Deflation" has brought no disaster to this industry.
The same is true of other high-growth industries, such as electronic calculators, plastics, TV sets, and VCRs. Deflation, far from bringing catastrophe, is the hallmark of sound and dynamic economic growth.
For more episodes, visit Mises.org/MisesReport
In this episode, Mark looks at the "minor issue" of the value of the dollar. While everything in the economy seems great—including stock markets, price inflation, unemployment, and consumer confidence—the value of the dollar index has fallen 12% during the rebound in stocks since last October.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Good Money with Tho Bishop, Dr. Jonathan Newman joins to look at recent headlines on inflation. Tho and Jonathan discuss the larger costs of Fed policy on the real economy and how official government measures can be gamed with techniques such as "shrinkflation."
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
On this episode of Radio Rothbard, Tho Bishop is joined by Mises Research Fellow Connor Mortell to talk about Connor's research project on energy policy. Tho and Connor push back against common narratives—even some promoted by libertarians—of fossil fuels and green energy and the necessity of keeping a human focus on energy policy.
The Radio Rothbard mug is available in the Mises Store. Get yours at Mises.org/RothMug: PROMO CODE RothPod for 20% off
Recommended Resources "How Should We Regulate the Sun (Since Our Government Regulates Nearly Everything Else)?" by Connor Mortell: Mises.org/RR_142_A
"Fossil Fuels Enable Us to Better Fight Fires and Other Environmental Disasters" by Connor Mortell: Mises.org/RR_142_B
"Fossil Future with Alex Epstein" (Human Action Podcast): Mises.org/RR_142_C
Fueling a Freer Future (Mises Institute Primer Series): Mises.org/RR_142_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.
Every time someone calls for the government to abandon its inflationary policies, Establishment economists and politicians warn that the result can only be severe unemployment. We are trapped, therefore, into playing off inflation against high unemployment, and become persuaded that we must therefore accept some of both.
This doctrine is the fallback position for Keynesians. Originally, the Keynesians promised us that by manipulating and fine-tuning deficits and government spending, they could and would bring us permanent prosperity and full employment without inflation. Then, when inflation became chronic and ever-greater, they changed their tune to warn of the alleged tradeoff, so as to weaken any possible pressure upon the government to stop its inflationary creation of new money.
The tradeoff doctrine is based on the alleged "Phillips curve," a curve invented many years ago by the British economist A. W. Phillips. Phillips correlated wage rate increases with unemployment, and claimed that the two move inversely: the higher the increases in wage rates, the lower the unemployment. On its face, this is a peculiar doctrine, since it flies in the face of logical, commonsense theory. Theory tells us that the higher the wage rates, the greater the unemployment, and vice versa. If everyone went to their employer tomorrow and insisted on double or triple the wage rate, many of us would be promptly out of a job. Yet this bizarre finding was accepted as gospel by the Keynesian economic establishment.
By now, it should be clear that this statistical finding violates the facts as well as logical theory. For during the 1950s, inflation was only about one to two percent per year, and unemployment hovered around three or four percent, whereas nowadays unemployment ranges between eight and 11 percent, and inflation between five and 13 percent. In the last two or three decades, in short, both inflation and unemployment have increased sharply and severely. If anything, we have had a reverse Phillips curve. There has been anything but an inflation-unemployment tradeoff.
But ideologues seldom give way to the facts, even as they continually claim to "test" their theories by facts. To save the concept, they have simply concluded that the Phillips curve still remains as an inflation-unemployment tradeoff, except that the curve has unaccountably "shifted" to a new set of alleged tradeoffs. On this sort of mind-set, of course, no one could ever refute any theory.
In fact, inflation now, even if it reduces unemployment in the short-run by inducing prices to spurt ahead of wage rates (thereby reducing real wage rates), will only create more unemployment in the long run. Eventually, wage rates catch up with inflation, and inflation brings recession and unemployment inevitably in its wake. After more than two decades of inflation, we are all now living in that "long run."
For more episodes, visit Mises.org/MisesReport
On this week's episode, Mark summarizes the many problems with EVs, and focuses on two consequences funded by taxpayer subsidy. Large, overpriced, long range vehicles have been subsidized at the expense of more efficient technological applications. These EVs are significantly heavier compared to their fossil fuel counterparts (which have engines and gas tanks). These heavier vehicles create greater crash risks for passengers and pedestrians. Failure to disclose such issues reveals some uncomfortable truths about the political elites who drive this agenda onto the American people.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Good Money with Tho Bishop, Ryan McMaken joins the show to talk about America's debt crisis. Tho and Ryan discuss both the damage done to the economy by runaway government spending, as well as how Federal Reserve policy has incentivized consumption and punished savings, which has resulted in record-high credit card debt.
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
Ryan, Tho, and Kerry Baldwin take a look at why some politicians say they're "nationalists." Is nationalism a good thing or is it just another way to justify more government meddling in our lives?
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
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Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.
The problem of forecasting interest rates illustrates the pitfalls of forecasting in general. People are contrary cusses whose behavior, thank goodness, cannot be forecast precisely in advance. Their values, ideas, expectations, and knowledge change all the time, and change in an unpredictable manner. What economist, for example, could have forecast (or did forecast) the Cabbage Patch Kid craze of the Christmas season of 1983? Every economic quantity, every price, purchase, or income figure is the embodiment of thousands, even millions, of unpredictable choices by individuals.
Many studies, formal and informal, have been made of the record of forecasting by economists, and it has been consistently abysmal. Forecasters often complain that they can do well enough as long as current trends continue; what they have difficulty in doing is catching changes in trend. But of course there is no trick in extrapolating current trends into the near future. You don't need sophisticated computer models for that; you can do it better and far more cheaply by using a ruler. The real trick is precisely to forecast when and how trends will change, and forecasters have been notoriously bad at that. No economist forecast the depth of the 1981–82 depression, and none predicted the strength of the 1983 boom.
The next time you are swayed by the jargon or seeming expertise of the economic forecaster, ask yourself this question: If he can really predict the future so well, why is he wasting his time putting out newsletters or doing consulting when he himself could be making trillions of dollars in the stock and commodity markets?
For more episodes, visit Mises.org/MisesReport
In this week's episode, Mark looks back at the history of the Inverted Yield Curve. While many observers have now dismissed the significance of the yield curve inversion in 2022—and no recession, yet—Mark shows that the history of the IYC may back a completely opposite interpretation.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Good Money, Tho Bishop is joined by Wesley Schlemmer, president and co-founder of Bitcoin Bay. Wesley discusses the benefits of creating local professional networks around common values and how Bitcoin Bay is helping Tampa residents convert Bitcoin into real goods and services, including locally raised beef.
Learn more about Bitcoin Bay at Bitcoinbay.live.
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
As we enter the dog days of summer, I have heard several media conversations and a few private ones that express exasperation over languishing capital markets. Why do things take so long to unravel? What will happen next? When will X, Y, or Z happen? Why are tech stocks so bullish now? The market takes time to process the information that it already has — or is in "process" — and everyday brings new data.
The Austrian perspective highlights the role of reality in the market process. This is especially important in this period of unprecedented government intervention and the chaos it has generated in markets.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.
The financial press now knows enough economics to watch weekly money supply figures like hawks; but they inevitably interpret these figures in a chaotic fashion. If the money supply rises, this is interpreted as lowering interest rates and inflationary; it is also interpreted, often in the very same article, as raising interest rates. And vice versa. If the Fed tightens the growth of money, it is interpreted as both raising interest rates and lowering them. Sometimes it seems that all Fed actions, no matter how contradictory, must result in raising interest rates. Clearly something is very wrong here.
The problem here is that, as in the case of price levels, there are several causal factors operating on interest rates and in different directions. If the Fed expands the money supply, it does so by generating more bank reserves and thereby expanding the supply of bank credit and bank deposits. The expansion of credit necessarily means an increased supply in the credit market and hence a lowering of the price of credit, or the rate of interest. On the other hand, if the Fed restricts the supply of credit and the growth of the money supply, this means that the supply in the credit market declines, and this should mean a rise in interest rates.
And this is precisely what happens in the first decade or two of chronic inflation. Fed expansion lowers interest rates; Fed tightening raises them. But after this period, the public and the market begin to catch on to what is happening. They begin to realize that inflation is chronic because of the systemic expansion of the money supply. When they realize this fact of life, they will also realize that inflation wipes out the creditor for the benefit of the debtor. Thus, if someone grants a loan at 5% for one year, and there is 7% inflation for that year, the creditor loses, not gains. He loses 2%, since he gets paid back in dollars that are now worth 7% less in purchasing power. Correspondingly, the debtor gains by inflation. As creditors begin to catch on, they place an inflation premium on the interest rate, and debtors will be willing to pay. Hence, in the long-run anything which fuels the expectations of inflation will raise inflation premiums on interest rates; and anything which dampens those expectations will lower those premiums. Therefore, a Fed tightening will now tend to dampen inflationary expectations and lower interest rates; a Fed expansion will whip up those expectations again and raise them. There are two, opposite causal chains at work. And so Fed expansion or contraction can either raise or lower interest rates, depending on which causal chain is stronger.
Which will be stronger? There is no way to know for sure. In the early decades of inflation, there is no inflation premium; in the later decades, such as we are now in, there is. The relative strength and reaction times depend on the subjective expectations of the public, and these cannot be forecast with certainty. And this is one reason why economic forecasts can never be made with certainty.
For more episodes, visit Mises.org/MisesReport
Ryan and Tho take a look at the legacy of Daniel Ellsberg's heroic leak of the Pentagon Papers and the evils of government secrecy. Modern leakers like Snowden, Manning, and Assange do important work educating voters and making the state more accountable.
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On this episode of Good Money with Tho Bishop, David Gornoski of A Neighbor's Choice joins to discuss how government policies have impacted American diets. From the subsidization of certain crops to anti-science propaganda campaigns about diet, to the consolidation of the agricultural industry, the politicization of the economy still shapes not only their wallet but their plates.
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.
Those people who are properly worried about the deficit unfortunately offer an unacceptable solution: increasing taxes. Curing deficits by raising taxes is equivalent to curing someone's bronchitis by shooting him. The "cure" is far worse than the disease.
For one reason, as many critics have pointed out, raising taxes simply gives the government more money, and so the politicians and bureaucrats are likely to react by raising expenditures still further. Parkinson said it all in his famous "Law": "Expenditures rise to meet income." If the government is willing to have, say, a 20 percent deficit, it will handle high revenues by raising spending still more to maintain the same proportion of deficit.
But even apart from this shrewd judgment in political psychology, why should anyone believe that a tax is better than a higher price? It is true that inflation is a form of taxation, in which the government and other early receivers of new money are able to expropriate the members of the public whose income rises later in the process of inflation. But, at least' with inflation, people are still reaping some of the benefits of exchange. If bread rises to $10 a loaf, this is unfortunate, but at least you can still eat the bread. But if taxes go up, your money is expropriated for the benefit of politicians and bureaucrats, and you are left with no service or benefit. The only result is that the producers' money is confiscated for the benefit of a bureaucracy that adds insult to injury by using part of that confiscated money to push the public around.
No, the only sound cure for deficits is a simple but virtually unmentioned one: cut the federal budget. How and where? Anywhere and everywhere.
For more episodes, visit Mises.org/MisesReport
For more episodes, visit Mises.org/MisesReport.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Mises Senior Editor Bill Anderson to discuss his recent article, "David French Gets to Sit with the Cool Kids at the NYT Lunch Table." Bill explains the transformation of French from a "cultural conservative" commentator to the preferred "classical liberal" of the elite.
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
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Recommended Reading "David French Gets to Sit with the Cool Kids at the NYT Lunch Table" by William L. Anderson: Mises.org/RR_138_A
"Review: Sohrab Ahmari's New Attack on Laissez-Faire Liberalism" by Zachary Yost: Mises.org/RR_138_B
""Libertarian" Is Just Another Word for (Classical) Liberal" by Ryan McMaken: Mises.org/RR_138_C
"To Stop the Left, America Needs a Rothbardian Right" by Tho Bishop: Mises.org/RR_138_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Good Money with Tho Bishop, Peter St Onge joins the show to discuss this week's Fed announcement and what it means to normal Americans. Tho and Peter also discuss the political battles in DC over the future of CBDCs and the dangerous trojan horse some Republicans may be creating on the issue.
Find more from Peter St Onge on Substack at StOnge.Substack.com. You can also find him on Twitter @ProfStOnge.
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.
In recent years there has been an understandable worry over the low rate of saving and investment in the United States. One worry is that the enormous federal deficits will divert savings to unproductive government spending and thereby crowd out productive investment, generating ever, greater long-run problems in advancing or even maintaining the living standards of the public.
Some policymakers have once again attempted to rebut this charge by statistics. In 1982–83, they declare, deficits were high and increasing, while interest rates fell, thereby indicating that deficits have no crowding-out effect.
This argument once again shows the fallacy of trying to refute logic with statistics. Interest rates fell because of the drop of business borrowing in a recession. "Real" interest rates (interest rates minus the inflation rate) stayed unprecedentedly high, however — partly because most of us expect renewed heavy inflation, partly because of the crowding-out effect. In any case, statistics cannot refute logic; and logic tells us that if savings go into government bonds, there will necessarily be less savings available for productive investment than there would have been, and interest rates will be higher than they would have been without the deficits. If deficits are financed by the public, then this diversion of savings into government projects is direct and palpable. If the deficits are financed by bank inflation, then the diversion is indirect, the crowding-out now taking place by the new money "printed" by the government competing for resources with old money saved by the public.
Milton Friedman tries to rebut the crowding-out effect of deficits by claiming that all government spending, not just deficits, equally crowds out private savings and investment. It is true that money siphoned off by taxes could also have gone into private savings and investment. But deficits have a far greater crowding-out effect than overall spending, since deficits financed by the public obviously tap savings and savings alone, whereas taxes reduce the public's consumption as well as savings.
Thus, deficits, whichever way you look at them, cause grave economic problems. If they are financed by the banking system, they are inflationary. But even if they are financed by the public, they will still cause severe crowding-out effects, diverting much-needed savings from productive private investment to wasteful government projects. And, furthermore, the greater the deficits the greater the permanent income tax burden on the American people to pay for the mounting interest payments, a problem aggravated by the high interest rates brought about by inflationary deficits.
For more episodes, visit Mises.org/MisesReport.
Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.
In recent decades we always have had federal deficits. The invariable response of the party out of power, whichever it may be, is to denounce those deficits as being the cause of our chronic inflation. And the invariable response of whatever party is in power has been to claim that deficits have nothing to do with inflation. Both opposing statements are myths.
Deficits mean that the federal government is spending more than it is taking in in taxes. Those deficits can be financed in two ways. If they are financed by selling Treasury bonds to the public, then the deficits are not inflationary. No new money is created; people and institutions simply draw down their bank deposits to pay for the bonds, and the Treasury spends that money. Money has simply been transferred from the public to the Treasury, and then the money is spent on other members of the public.
On the other hand, the deficit may be financed by selling bonds to the banking system. If that occurs, the banks create new money by creating new bank deposits and using them to buy the bonds. The new money, in the form of bank deposits, is then spent by the Treasury, and thereby enters permanently into the spending stream of the economy, raising prices and causing inflation. By a complex process, the Federal Reserve enables the banks to create the new money by generating bank reserves of one-tenth that amount. Thus, if banks are to buy $100 billion of new bonds to finance the deficit, the Fed buys approximately $10 billion of old treasury bonds. This purchase increases bank reserves by $10 billion, allowing the banks to pyramid the creation of new bank deposits or money by ten times that amount. In short, the government and the banking system it controls in effect "print" new money to pay for the federal deficit.
Thus, deficits are inflationary to the extent that they are financed by the banking system; they are not inflationary to the extent they are underwritten by the public.
Some policymakers point to the 1982–83 period, when deficits were accelerating and inflation was abating, as a statistical "proof" that deficits and inflation have no relation to each other. This is no proof at all. General price changes are determined by two factors: the supply of, and the demand for, money. During 1982–83 the Fed created new money at a very high rate, approximately at 15 percent per annum. Much of this went to finance the expanding deficit. But on the other hand, the severe depression of those two years increased the demand for money (i.e., lowered the desire to spend money on goods), in response to the severe business losses. This temporarily compensating increase in the demand for money does not make deficits any the less inflationary. In fact, as recovery proceeds, spending will pick up and the demand for money will fall, and the spending of the new money will accelerate inflation.
For more episodes, visit Mises.org/MisesReport.
Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists.
For more episodes, visit Mises.org/MisesReport.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the role statistics play in promoting the regime. Topics include some interesting differences in recently reported unemployment data, changes to inflation reporting over time, government withholding of various reports — including crime and money supply measures — as well as alternative measures Austrians use to better cut through state propaganda.
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
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Recommended Reading "Yet Another Month of Questionable Federal Jobs Data as 310,000 Fewer People Report Having Jobs" by Ryan McMaken: Mises.org/RR_137_A
"The "True" Money Supply: A Measure of the Supply of the Medium of Exchange in the U.S. Economy" by Joseph Salerno: Mises.org/RR_137_B
"Does GDP Present an Accurate Picture of the Economy? Not Likely" by Frank Shostak: Mises.org/RR_137_C
"World War I as Fulfillment: Power and the Intellectuals" by Murray Rothbard: Mises.org/RR_137_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Good Money with Tho Bishop, Jeffrey Kauffman joins the show to discuss recent attacks from the SEC on major crypto exchanges. Kauffman, CEO of LBRY and content platform Odysee, shares his own company's battle with the SEC, the impossible burdens regulators have placed on legal compliance, and why DC's Operation Chokepoint 2.0 could be a positive for the industry in the long run.
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
Ryan and Zack look at how China, Iran, and Saudi Arabia are reshaping the Middle East into a region where the United States no longer dominates. This is a good thing for ordinary Americans.
Additional Resources "Thanks to Sanctions, the US Is Losing Its Grip on the Middle East" by Ryan McMaken: Mises.org/WES_11_A
"The Petrodollar-Saudi Axis Is Why Washington Hates Iran" by Gary Richied: Mises.org/WES_11_B
"Peace is Breaking Out in the Middle East… and Washington is Not Happy!" by Ron Paul: Mises.org/WES_11_C
"Why the End of the Petrodollar Spells Trouble for the US Regime" by Ryan McMaken: Mises.org/WES_11_D
"Washington Miffed as China Makes Peace" by Joseph Solis-Mullen: Mises.org/WES_11_E
Be sure to follow War, Economy, and State at Mises.org/WES.
While talk of high gas prices is no longer a headline issue, energy economics is still a vitally important aspect of understanding the economy, including the business cycle. Mark explains the basics, tells us where we now stand, and what the major implications are for the near future.
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Be sure to follow Minor Issues at Mises.org/MinorIssues.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop take a revisionist Rothbardian lens to American history. Was the American revolution a good thing? Was Andrew Jackson better than Thomas Jefferson? Does a historical narrative really matter? Tune in for this and more!
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In this episode of Good Money, Tho Bishop is joined by Dr. Jonathan Newman to discuss the real costs of government spending. The end of the debt ceiling battle has resulted in the predictable outcome of normalizing the fiscal insanity of covid-era spending. Tho and Jonathan discuss how this was predictable to those familiar with the work of Dr. Robert Higgs, how mainstream GDP measures miss the true costs of government, and alternative approaches Austrian economists use to provide a clearer understanding of what is really going on in the economy.
Good Money listeners can order a special $5 book bundle that includes How To Think About the Economy and What Has Government Done to Our Money? with free shipping using promo code "GoodMoney" at Mises.org/Good
Receive a free subscription to The Austrian magazine at Mises.org/Magazine
Mark takes a look at all the wrong predictions of recession in recent years, including those of Austrian School economists. While the MSM and Fed officials try to downplay the coming of a recession, many of the statistics and facts that Austrian consider important are indicating a looming recession, if not a full-blown economic crisis.
Check out Anatomy of the Crash: The Financial Crisis of 2020, edited by Tho Bishop: Mises.org/AnatomyOfTheCrash
Be sure to follow Minor Issues at Mises.org/MinorIssues.
This episode of Good Money with Tho Bishop features guest Ryan Griggs of Griggs Capital Strategies. During the show, Ryan discusses his work with Bob Murphy on an Austrian understanding of inverted yield curves as a signal for recessions and how it differs from the mainstream analysis. He also discusses Nelson Nash's infinite banking strategy as a means for capital accumulation, in contrast to traditional investment approaches.
Ryan and Bob Murphy on the Austrian understanding of inverted yield curves: Mises.org/GM7aGriggs Capital Strategies: Mises.org/GM7b
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop tackle the debt ceiling debate. As negotiations continue in Washington, the corporate financial press is hard at work warning about the potential for disaster. Ryan and Tho cut through the nonsense to look at the real state of America's finances, potential ramifications in the short term, and US defaults of the past and the inevitable future.
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
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Recommended Reading"Three Lies They're Telling You about the Debt Ceiling" by Ryan McMaken: Mises.org/RR_135_A
"Yes, the US Government Has Defaulted Before" by Ryan McMaken: Mises.org/RR_135_B
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this week's episode, Mark explains why the market for existing homes has been diverging from the market for new houses. The Fed ZIRP, QE and Covid bailouts have locked Americans into their mortgages and low payments, reducing the supply of existing homes. This keeps them off the market and home prices high in an economy that is headed for a recession or crisis. Buyers have been diverted to newly constructed homes where builders have more flexibility to sell and there are no existing homeowners locked into mortgages.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Veteran investigative journalist James Bovard joins Ryan and Tho to talk about the Durham Report and what it tells us about the media and the FBI.
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
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Recommended Reading"Durham proves that Hillary and the FBI tried to rig the 2016 election" by Jim Bovard (New York Post): Mises.org/RR_134_A
"Democrats attack FBI whistleblowers — giving cover to the agency’s abuses" by Jim Bovard (New York Post): Mises.org/RR_134_A2
"The FBI Vetoed the 2016 Presidential Election" by Jim Bovard: Mises.org/RR_134_B
"End the FBI" by Ryan McMaken: Mises.org/RR_134_C
"Yes, the FBI is America’s secret police" by Jim Bovard (The Hill): Mises.org/RR_134_D
"The FBI’s Forgotten Criminal Record" by Jim Bovard: Mises.org/RR_134_E
"Why the Worst Get on Top" by F. A. Hayek: Mises.org/RR_134_F
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
After a long series of rate hikes, Fed officials and asset markets are expecting a long series of interest rate cuts. This is based on the tried and hue Phillips Curve analysis. In color theory, "hue" is the technical appearance of color that can be described mechanically as a number. Let's hope interest rate expectations are not being distorted by other factors of reality, and that current Phillips Curve model perceptions of hue are also true.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop talk about recent court cases involving defamation claims, justifying libertarian skepticism of the entire concept. As Ryan noted in a recent Wire article, the Dominion lawsuit in particular, is a particularly chilling case for free speech, with a taxpayer-funded company effectively silencing public critics. This, along with the recent Trump verdict, are an illustration of the continuing escalating weaponization of the court system for political ends.
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
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Recommended Reading"The Dominion Lawsuit against Fox News is Part of the War against Free Speech" by Ryan McMaken.: Mises.org/RR_133_A
"The Alex Jones Verdict Shows the Danger of Defamation Laws" by Ryan McMaken: Mises.org/RR_133_B
"Lawsuits Are the Hitman of the State" by Brian Caplan Mises.org/RR_133_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Bank reserves are seldom mentioned except in cases of bank runs. The other possible mention is all the interest money the Fed pays to banks simply for holding reserves. Mark explains the role of bank reserves in the current "system" and gives a brief explanation of why the Austrian view is better and actually gets the job done.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the cancellation of Tucker Carlson's Fox News show and the similar treatment of Murray Rothbard by Bill Buckley. What does Tucker's cancelation mean for the growing anti-regime trends on the right, and why do "conservative" gatekeepers prefer the company of the left more than their audience? We look at this and more on this episode of Radio Rothbard.
New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug
For more on the history of the conservative movement, get your copy of Betrayal of the American Right by Murray Rothbard. Receive 20% off with coupon code RothPod at the Mises Store.
Also available as an audiobook.
PROMO CODE: RothPod for 20% off
Recommended Reading"Murray Rothbard, RIP" by William F. Buckley Jr.: Mises.org/RR_132_A
"Frank Meyer's Fusionism and the Search for Consensus Among Conservatives" by Paul Gottfried: Mises.org/RR_132_B
"NotCon 3 Video: The Failure of Fusionism" Mises.org/RR_132_C
"Why Fox Fired Tucker: BlackRock, Replacement Theory, and the ADL" by Michael Rectenwald Mises.org/RR_132_D
"Buckley Revealed" by Murray Rothbard Mises.org/RR_132_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan and Zack talk about some of the details from the recently leaked Pentagon documents. They reveal dysfunctional American foreign policy and just how much contempt the US regime has for its own allies.
Additional Resources"What the leaked Pentagon documents reveal — 8 key takeaways" by Paul Adams, Jean Mackenzie, and Antoinette Radford (BBC News): Mises.org/WES_10_A
"Fact Sheet on U.S. Security Assistance to Ukraine" (U.S. Department of Defense, 19 April 2023): Mises.org/WES_10_B
"U.S. doubts Ukraine counteroffensive will yield big gains, leaked document says" by Alex Horton, John Hudson, Isabelle Khurshudyan, and Samuel Oakford (Washington Post): Mises.org/WES_10_C
"Arbitrary Use of Power: Punishing Those Who Expose Not-So-Secret Government Secrets" by Bill Anderson: Mises.org/WES_10_D
Be sure to follow War, Economy, and State at Mises.org/WES.
Mark discusses something bigger than the Disney layoffs: the Wall Street Journal's April 25 frontpage article on investing in gold. It would seem that the recent rise of the price of gold is the result of tired, dumb, and disillusioned crypto currency investors throwing in the towel to "chase shiny new object—gold." Mark explains that the rational reasons for investing in gold loom larger than the entire Magic Kingdom!
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Ryan McMaken and Dr. Mark Thornton cover the state of the dollar as global reserve currency, and why employers are laying off more and more of their highest paid workers.
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Subscribe to Mark's weekly Minor Issues podcast at Mises.org/MinorIssues.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Mark looks at the price of Apple stock—one of the best performing stocks over the last quarter century, and one of the largest holdings in stock indexes, mutual funds, and Berkshire Hathaway portfolio. Market watchers have kept a keen eye on Apple as it heads for a new all-time high; but, Mark is concerned that a downturn would have a huge ripple effect on the overall market—possibly equivalent to a tsunami.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at common American history myths baked into government school curriculums. While Republican governors have begun to prioritize removing "critical race theory" and other forms of modern "leftwing indoctrination" from textbooks, there are a number of historical episodes left unchallenged that all lead to a deification of state power and a celebration of progressive politics.
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Recommended Reading"The Meat Packing Myth" by Murray Rothbard: Mises.org/RR_130_A
"Krugman's Hoover History" by Robert Murphy: Mises.org/RR_130_B
"Why the 1787 Constitution Did Not Bring Republican Government to America" Mises.org/RR_130_C
The Progressive Era by Murray Rothbard Mises.org/RR_130_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan and Zachary talk about how wars are not nearly as cheap or economically harmless as many Americans seem to think. Rather, taxpayers must give up enormous amounts of resources to fund wars halfway across the globe that have little to do with actual defense. Americans are still paying interest on the trillions spent on Washington's many lost wars of recent decades.
Additional Resources"On Paying for the Costs of War and War Loans" by Ludwig von Mises (1918): Mises.org/WES_09_A
"The Cross of Iron" by Dwight D. Eisenhower (1953): Mises.org/WES_09_B
"Fact Sheet on U.S. Security Assistance to Ukraine" (U.S. Department of Defense, 4 April 2023): Mises.org/WES_09_C
"How the Fed Is Enabling Congress's Trillion-Dollar Deficits" by Ryan McMaken (2021): Mises.org/WES_09_D
"War and the Money Machine: Concealing the Costs of War beneath the Veil of Inflation" by Joseph T. Salerno (2021): Mises.org/WES_09_E
"As the Pentagon Fails Another Audit, Congress Wants to Spend Even More on 'Defense'" by Ryan McMaken (2022): Mises.org/WES_09_F
"Russia and Ukraine named as Europe’s most corrupt countries" by William Nattrass (3 February 2023): Mises.org/WES_09_G
Be sure to follow War, Economy, and State at Mises.org/WES.
Mark takes a look at the good news on price inflation and why it is better than reported, but probably short-lived. Other statistics are worsening and, amazingly, even landlords are starting to feel the pain!
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss recent reveals about new lows for the FBI. Ryan discusses new reports about the targeting of traditional Catholic churches and the history of the American Stasi, while Tho highlights new evidence about the role of federal agents in escalating January 6.
Recommended Reading"The FBI’s Forgotten Criminal Record" by Jim Bovard: Mises.org/RR_129_A
"Abolish the FBI" by Ryan McMaken: Mises.org/RR_129_B
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
This episode explores precious metals. Gold (Au) is the main precious metal, followed by Silver (Ag), Platinum (Pt), and Palladium (Pd). These are distinct from valuable industrial metals such as copper (which served as money historically), nickel, and zinc, which have served as token coins in modern times. There are many different ways and forms you can own precious metals.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Ryan and Tho talk about why Trump is the only former president to be prosecuted for crimes. The ruling class has agreed to not prosecute their own, but since they see Trump as an outsider, he is fair game. In truth, we'd be better off if more presidents and former presidents faced prosecution.
Recommended Reading"With the Trump Indictment, America Is a Step Closer to Being a Banana Republic" by Bill Anderson: Mises.org/RR_128_A
"Politics Is Turning Us into Idiots" by Lipton Matthews: Mises.org/RR_128_B
Anatomy of the State by Murray N. Rothbard: Mises.org/RR_128_C
"Yes, Virginia, There IS a Deep State—and It Is Worse than You Think" by Bill Anderson: Mises.org/RR_128_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Mark is not fooling around today. He looks back at the history of gold and its price, which some believe is too erratic and too unstable (like Bitcoin) to serve as a basis of a monetary system. Mark shows that it is not gold that destabilizes events in the real world, but rather real world events related to political decision-making that has made the price of gold unstable. The price of gold is a "minor" indicator of what governments are really up to.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the global moves being made against the US dollar. The regime's decade long weaponization of money and banking has both international rivals and historical allies looking for alternatives. Ryan and Tho discuss what that means for Americans, and what may come next.
Recommended Reading"World needs to end risky reliance on U.S. dollar: BoE's Carney" (Reuters, 2019): Mises.org/RR_127_A
"Governments Can't Blame Inflation on Energy and Putin Anymore" by Daniel Lacalle: Mises.org/RR_127_B
"Is the Fed Trying to Bail Out the World? Sure Looks Like It" by Kristoffer Hansen: Mises.org/RR_127_C
"Why Fractional Reserve Banking Is behind Bank Failures" by Jonathan Newman: Mises.org/RR_127_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode, Mark looks at the far away minor issue of the impact of hyperinflation in Zimbabwe. Even though they have switched from Zim dollars to US dollars, ordinary people are still suffering. Their government and its inflationary monetary policy is manifesting itself in some interesting ways.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
This week on Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Peter St. Onge, a fellow at the Heritage Foundation and a regular contributor to the Mises Wire. This episode looks at the political response to the recent turmoil in the banking system and how the Austrian position looks today relative to 2008. St. Onge makes a case for optimism.
Recommended Reading"It Turns Out That Hundreds of Banks Are at Risk" by Peter St. Onge: Mises.org/RR_126_A
"The Fed Backtracks on Future Rate Hikes as Bank Failures Loom Large" by Ryan McMaken: Mises.org/RR_126_B
"Looming Bank Failures Point to More Price Inflation as Real Wages Fall Again" by Ryan McMaken: Mises.org/RR_126_C
Peter St. Onge's Substack: StOnge.substack.com
2023 Libertarian Scholars Conference: Mises.org/LSC23
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
SVB Bank and Signature Bank failed this week and were bailed out. Mark explains why the banks failed and why it was bound to happen. The minor issue is that the total FDIC bailout fund is actually smaller than either one of the banks.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Ryan and Tho talk about how last week's banking panic led to new ways for bankers and politicians to exploit regular people through inflation, regulations, and corrupt loans.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Mark discusses how the Federal Reserve and Covid restrictions greatly increased the price of cardboard boxes; but, with online sales softening, we should expect suppliers to shift the raw materials used to make boxes (wood pulp) into the production of other paper goods, such as toilet paper. Because our demand for toilet paper is relatively inelastic, we should see a decline in the price of toilet paper and better availability.
The market will reallocate toward consumer wants and lower prices.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Ryan McMaken and Tho Bishop look at how the regime's narrative on foreign policy is failing, and how some in Congress are finally standing up to the warfare state. Yet, the regime wants more US wars in Syria, Ukraine, and now even Mexico. And you will pay for it all. Will the voters demand a more sane foreign policy in 2024?
Recommended Reading"The Costs of War in Syria" by Ryan McMaken (2013): Mises.org/RR_124_A
"A Permanent Wartime Economy" by Jeff Deist: Mises.org/RR_124_B
The War, Economy, and State Podcast with Ryan McMaken and Zachary Yost: Mises.org/WES
"Mission Accomplished: Seymour Hersh, Nordstream, and What’s Left on the Cutting Room Floor" by Tom Luongo (LewRockwell.com): Mises.org/RR_124_C
"Meanwhile in Yemen, the US Government Supplies Weapons to Continue the Carnage" by Trenton Hale: Mises.org/RR_124_D
"House Votes Down Resolution to Withdraw Troops from Syria" by Dave DeCamp (AntiWar.com): Mises.org/RR_124_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Mark talks about the recent price inflation reports, as well as reports of job openings from private sector job placement companies. Inflation was higher than expected and job openings declined. What will the Fed do? People are making painful adjustments—Domino's reported disappointing sales, because their customers are "eating in".
Be sure to follow Minor Issues at Mises.org/MinorIssues.
This episode of Radio Rothbard revisits a point in our previous episode about the popular claim on leftwing Twitter that red-state America would be a "third world country" without support from the federal government. Ryan McMaken and Tho Bishop discuss Ryan's recent article on the topic, as well as the legacy of populist politics, and the unseen consequences of uniparty addiction to DC money.
Recommended Reading"No, Red State Economies Don't Depend on a "Gravy Train" from Blue States" by Ryan McMaken: Mises.org/RR_123_A
"Selling Our Sovereignty: Alabama’s Federal Dependency" by Katherine Green Robertson: Mises.org/RR_123_B
"Why MTG Is Right About National Divorce" (Radio Rothbard with Ryan McMaken and Tho Bishop): Mises.org/RR_123_C
"How to Think about the Economy" (Mises Seminar in Tampa) featuring Jeff Deist, Dr. Joe Salerno, Dr. Per Bylund, Tho Bishop, and Brett Lindell: Mises.org/RR_123_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Mark uses Intel Corporation, the computer chip manufacturer, as a barometer of the business cycle. He looks at the stock price in recent years, its production capacity expansion, and the company's very recent cost- and dividend-cutting moves.
Check out Mark Thornton's free book, The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century: Mises.org/Curse
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss this week's Twitter and media campaign by Congresswoman Marjorie Taylor Greene promoting the idea of national divorce. Ryan and Tho read through some of the tweets that the Representative from Georgia made about the practical advantages of a soft secession, as well as comments made by "Very Serious People" deeply offended at the suggestion.
Is Marjorie Taylor Greene guilty of unforgivable high treason? Tune in to find out.
Recommended Reading"January 6 Trials Remind Us Why We Must Abolish Seditious Conspiracy Laws" by Ryan McMaken: Mises.org/RR_122_A
"Secession: Should the American Revolutionaries Have Quit to Appease the Loyalists?" by Ryan McMaken: Mises.org/RR_122_B
"The Economics of American Gerontocracy" (Human Action Podcast with Jeff Deist and Bob Murphy): Mises.org/RR_122_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Mark Thornton explains the target as another smokescreen that was originally intended to stabilize monetary policy, currencies, and exchange rates, but has become a justification for inflation and central bank manipulation.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop address whether the Ohio train disaster is an example of "capitalism gone amuck". They discuss Murray Rothbard's views on pollution, the secondary consequences of the regulatory state, and the decaying qualities of modern financialization.
Also, join the Mises Institute in Tampa this month for a special event featuring Per Bylund, Jeff Deist, Tho Bishop, and Brett Lindell, on February 25. Learn more at Mises.org/Tampa.
Recommended Reading"Are Libertarians Too Anti-Pollution?" by Ryan McMaken: Mises.org/RR_121_A
"Financialization: Why the Financial Sector Now Rules the Global Economy" by Ryan McMaken: Mises.org/RR_121_B
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On the heels of rising stock markets, record low unemployment rates, and even the plunge in the price of gasoline, Mark discusses the latest government economic reports including the hot retail sales numbers, recent increases in the CPI, and the increases in business inventories. What can be made of these confusing numbers?
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Mark Thornton takes a look back at US stock markets, the national debt, and Fed policy (ZIRP, money supply, and its balance sheet).
"After the Boom Must Come the Bust" (Radio Rothbard): Mises.org/MI_06_A
Austrian Economic Research Conference: AustrianEconomics.org
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Mark Thornton looks at how much money Americans will spend on the Super Bowl this year and discusses the accuracy of the Super Bowl Stock Market Indicator.
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop feel obligated to discuss the State of the Union address. Was anything of value learned? Tune in to find out.
Also, join the Mises Institute in Tampa this month for a special event featuring Per Bylund, Jeff Deist, Tho Bishop, and Brett Lindell, on February 25. Learn more at Mises.org/Tampa.
Recommended Reading"Raise the Social Security Age to (at Least) 75" by Ryan McMaken: Mises.org/RR_120_A
"Another Recession Sign: Part-Time Work Is Growing Faster than Full-Time Work" by Ryan McMaken: Mises.org/RR_120_B
"Yes, the US Government Has Defaulted Before" by Ryan McMaken: Mises.org/RR_120_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Mark Thornton discusses the history of record low unemployment rates and the business cycle.
See "Unemployment Rate" (UNRATE) from the Federal Reserve Bank of St. Louis: Mises.org/MI_04_Chart
Be sure to follow Minor Issues at Mises.org/MinorIssues.
Will the Fed be successful with its "Immaculate Disinflation"? Or, will we still have to "pay an even higher price" for their use of Weapons of Massive Monetary Destruction in 2020-21?
Be sure to follow Minor Issues at Mises.org/MinorIssues.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss Jay Powell's exercise in Fed-speak this week. While political pressure mounts at home for the Fed to turn dovish, growing international challenges to the dollar's dominance mount. Ryan and Tho also examine the Saudi's willingness to question the petrodollar and recent rumblings down south of a South American monetary union.
Also, join the Mises Institute in Tampa this month for a special event featuring Per Bylund, Jeff Deist, Tho Bishop, and Brett Lindell, on February 25. Learn more at Mises.org/Tampa.
Recommended Reading"The Fed Is Already Flashing Signs It's Done Raising Rates" by Ryan McMaken: Mises.org/RR_119_A
"How FedGov Destroyed the Housing Market" (Human Action Podcast): Mises.org/RR_119_B
"Why the End of the Petrodollar Spells Trouble for the US Regime" by Ryan McMaken: Mises.org/RR_119_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
The Federal Reserve has created a huge boom full of bubbles. But after the boom must eventually come a bust. Ryan and Tho talk to Mises Institute Senior Fellow Mark Thornton about what to expect from the next recession and how we got ourselves into our current inflationary mess.
Recommended Reading"Eliminating Economic Crises" by Mark Thornton: Mises.org/RR_118_A
"The REAL Solution to the Coming Economic Crisis" by Mark Thornton: Mises.org/RR_118_B
"Wholesale Price Inflation Is Slowing as Economy Worsens" by Ryan McMaken: Mises.org/RR_118_C
The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century by Mark Thornton: Mises.org/RR_118_D
"Will the Fed Pop the Everything Bubble?" by Daniel Lacalle: Mises.org/RR_118_E
"The Trillion-Dollar Coin Idea Is Just Another Way to Rip Us Off" by Ryan McMaken: Mises.org/RR_118_F
"The Fed's Real Mandate" by Mark Thornton: Mises.org/RR_118_G
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Zachary Yost discuss new estimates of just how costly a US-China war over Taiwan would be. Things are made even worse by the fact the US is already shopping most of its weapon stockpiles to Ukraine. The US government simply refuses to acknowledge that scarcity exists.
Additional Resources"The First Battle of the Next War: Wargaming a Chinese Invasion of Taiwan" by Mark F. Cancian, Matthew Cancian, and Eric Heginbotham: Mises.org/WES_07_A
"Taiwan Is Not Ukraine" by Zachary Yost: Mises.org/WES_07_B
"Victory Without Battle: A Smarter Vision for US-Taiwan Policy" by Zachary Yost: Mises.org/WES_07_C
"Rebuilding U.S. Inventories: Six Critical Systems" by Mark F. Cancian: Mises.org/WES_07_D
"Taiwan has nearly US$19 billion in arms sales backlogged in US" by Eric Chang: Mises.org/WES_07_E
"Costs of War" (The Watson Institute for International and Public Affairs): Mises.org/WES_07_F
Be sure to follow War, Economy, and State at Mises.org/WES.
On this week's Radio Rothbard, Ryan McMaken and Tho Bishop celebrate World Economic Forum week by discussing the Managerial Revolution. While James Burnham's disinterest in economics made his criticism of capitalism cringey, modern financialization has manipulated the profit and loss mechanisms that any fan of his work can appreciate. Also, what is the lasting impact of the political capture of corporate power? Will the next crisis allow for a needed re-evaluation of insidious neoliberalism, or will "hypercapitalism" get the blame? Tune in for this and more on the latest episode.
Recommended Reading"The Fed Is a Purely Political Institution, and It's Definitely Not a Bank" by Ryan McMaken: Mises.org/RR_117_A
"Financialization: Why the Financial Sector Now Rules the Global Economy" by Ryan McMaken: Mises.org/RR_117_B
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop call for breaking up the US into smaller states. While this idea sounds radical to some, there has been growing conversation about shifting state borders, including proposals to break up California and a recent vote on the Greater Idaho project. Ryan and Tho discuss what lessons the Swiss model of federalism, as well as consider the cynical political considerations of this humble proposal.
Recommended Reading"If American Federalism Were like Swiss Federalism, There Would be 1,300 States" by Ryan McMaken: Mises.org/RR_116_A
"The Borders Between US States Are Obsolete" by Ryan McMaken: Mises.org/RR_116_B
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are back for 2023, savoring the chaos in Congress. As the House Republican rebellion threatens to keep Kevin McCarthy from gaining the speaker's gavel, Ryan and Tho look at other potential targets for a Republican-held Congress.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
We know that "bring the troops home" is too much for America's foreign policy establishment. But if they can't handle that, a good first step would be to at least "bring the troops home" to the western hemisphere and the Americas. A new Monroe doctrine would be a less bad foreign policy paradigm than what we have now.
Additional Resources"Wall Street, Banks, and American Foreign Policy" by Murray N. Rothbard: Mises.org/WES_06_A
Be sure to follow War, Economy, and State at Mises.org/WES.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look ahead to 2023 with a handful of predictions for the new year. They even manage to find one reason for optimism!
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look back at 2022 and touch on some of the worst and underappreciated trends of the year. For those interested in a more holiday-themed episode, check out last year's debate on the virtues of Ebenezer Scrooge (Mises.org/RR_45).
Looking for Christmas gifts? Use promo code ROTHPOD for a 20% discount on select books featured on Radio Rothbard. Or, use code MURRAYCHRISTMAS for a special 10% discount on select new Mises apparel: Mises.org/RR_113_Store
Recommended Reading"Why Are So Many Men Leaving the Workforce?" by Ryan McMaken: Mises.org/RR_113_A
"The Jobs "Boom" Isn't So Hot When We Remember Nearly Six Million Men Are Missing from the Workforce" by Ryan McMaken: Mises.org/RR_113_B
"The Pandemic Is 'Over,' but the Feds Aren't Giving Up Their Emergency Powers" by Ryan McMaken: Mises.org/RR_113_C
"Ebenezer Scrooge: Hero or Villain?" (Radio Rothbard): Mises.org/RR_113_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Tho Bishop and Ryan McMaken discuss the recent report that the Pentagon has failed its fifth straight audit and why no one seems to care. Why has the public lost interest in basic fiscal sanity? How recent is this problem? What might force Americans to care?
Looking for Christmas gifts? Use promo code ROTHPOD for a 20% discount on select books featured on Radio Rothbard. Or, use code MURRAYCHRISTMAS for a special 10% discount on select new Mises apparel: Mises.org/RR_111_Store
Recommended Reading"As the Pentagon Fails Another Audit, Congress Wants to Spend Even More on 'Defense'" by Ryan McMaken: Mises.org/RR_111_A
"Can a Deeply Unserious America Fix Its Economy?" by Jeff Deist: Mises.org/RR_111_B
"Biden's Defense Plan: Limitless Global Meddling" (War, Economy, and State podcast): Mises.org/RR_111_C
America: From Republic to Empire (video series): Mises.org/RR_111_D
The Betrayal of the American Right by Murray N. Rothbard: Mises.org/RR_111_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of War, Economy, and State, Ryan McMaken and Zachary Yost take a look at the Biden Administration's new National Security Strategy. The Biden plan is to intervene everywhere and always across the entire globe. In fact, the plan absurdly says "nothing is beyond" the US's capacity to remake the global order.
Additional Resources"National Security Strategy, October 2022" (PDF): Mises.org/WES_05_A
Be sure to follow War, Economy, and State at Mises.org/WES.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the topic of nationalism and the role it can play in political decentralization. In his recent book, Breaking Away: The Case for Secession, Radical Decentralization, and Small Polities, Ryan notes how nationalist sentiments have helped ethnic, religious, and linguistic groups resist centralizing political states, such as the Soviet Union. This contrasts the ways nationalism served as a centralizing force in 19th-century Europe. Ryan and Tho look at how recent nationalist sentiments are challenging authoritarian globalist pressures, as well as how strengthening regional and state cultural identities may offer the best chance to roll back the Washington regime in America.
Looking for Christmas gifts? Use promo code ROTHPOD for a 20% discount on select books featured on Radio Rothbard. Or, use code MURRAYCHRISTMAS for a special 10% discount on select new Mises apparel: Mises.org/RR_110_Store
Recommended ReadingBreaking Away: The Case for Secession, Radical Decentralization, and Small Polities by Ryan McMaken: Mises.org/RR_110_A
"Is Nationalism a Good Thing? It Depends." by Ryan McMaken: Mises.org/RR_110_B
"Mises on Nationalism, the Right of Self-Determination, and the Problem of Immigration" by Joe Salerno: Mises.org/RR_110_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at conman Sam Bankman-Fried, the scam of FTX, and how regime legitimacy has fueled several fraudulent companies with unprofitable business practices.
Did post-2008 monetary policy fuel a bubble in "effective altruism?" Do examples like Elon Musk's restructuring of Twitter offer an illustration of what Big Tech firms will have to do to survive in a time of less-than-easy money, or will the regime bailout out the corporate extensions of techno-managerialism? What killed Silicon Valley's once-promising techno-libertarian style? Ryan and Tho look at this and more on this episode of Radio Rothbard.
Looking for Christmas gifts? Use promo code ROTHPOD for a 20% discount on select books featured on Radio Rothbard. Or, use code MURRAYCHRISTMAS for a special 10% discount on select new Mises apparel: Mises.org/RR_109_Store
Recommended Reading "How Easy Money Fueled the FTX Crypto Collapse" by Ryan McMaken: Mises.org/RR_109_A
"Sound Money Is Our Best Hope Against the Monopolists' Threat" by Brendan Brown: Mises.org/RR_109_B
"How Fiat Money Enriches the Unproductive" by George Ford Smith: Mises.org/RR_109_C
"Without Easy Money, the Tech Sector Faces Layoffs and Losses" by Ryan McMaken: Mises.org/RR_109_D
"The Housing Boom Is Already Over. The Housing Shortage Will Continue." by Ryan McMaken: Mises.org/RR_109_E
"Will the FTX Scandal Bring Down 'Crypto'?" by Jeff Deist and Bob Murphy (video): Mises.org/RR_109_F
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Tho Bishop talk with economic anthropologist Jovana Diković about how a focus on "solving" global warming endangers the food supply for much of the globe, especially in the developing world. Even rich nations face a world of less food at higher prices.
Use promo code ROTHPOD for a 20% discount on Ryan McMaken's new book Breaking Away: The Case for Secession, Radical Decentralization, and Smaller Polities: Mises.org/RR_108_Book
Recommended Reading "Environmental and Political Elites Are Destroying Food Production for Climate Goals" by Diković: Mises.org/RR_108_A
"Eat or Heat: Europeans Already Are Facing Previously Unthinkable Dilemmas" by Claudio Grass: Mises.org/RR_108_B
"Regime Pseudoscientists Enforce Climate Change Narrative" by Michael Rectenwald: Mises.org/RR_108_C
"Germany's (and Europe's) Self-Inflicted Upcoming Energy Crunch" by Weimin Chen: Mises.org/RR_108_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Tho Bishop and Ryan McMaken break down the results of this year's midterms. American anxiety over inflation and crime failed to create the red wave many expected. While Republicans took back the House, and maybe the Senate, this year's midterms underperformed traditional midterm elections. Tho and Ryan discuss why this is, as well as what a DeSantis victory might mean for a potential civil war with Trump.
Use promo code ROTHPOD for a 20% discount on Ryan McMaken's new book Breaking Away: The Case for Secession, Radical Decentralization, and Smaller Polities: Mises.org/RR_107_Book
Recommended Reading "Antidemocratic Just Means Something the Regime Doesn't Like" by Ryan McMaken: Mises.org/RR_107_A
"The Realistic Market for Private Governance" by Jeff Deist: Mises.org/RR_107_B
"Murray Rothbard versus the Progressives" by Joseph T. Salerno: Mises.org/RR_107_C
"Breaking Away: The Case for Smaller Polities" by Ryan McMaken (video): Mises.org/RR_107_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Tho Bishop and Ryan McMaken preview next week's midterms. How big of a red wave is on the horizon, and how much does it really matter? Should the real focus be on governor races? Can a Republican actually win in New York? And, what about Blake Masters? Ryan and Tho consider these questions and more in this week's episode.
Use promo code ROTHPOD for a 20% discount on Ryan McMaken's new book Breaking Away: The Case for Secession, Radical Decentralization, and Smaller Polities: Mises.org/RR_106_Book
Recommended Reading "Can National Conservatism Threaten the Regime?" by Tho Bishop: Mises.org/RR_106_A
"The Realistic Market for Private Governance" by Jeff Deist: Mises.org/RR_106_B
"Practicing Politics as Self-Defense" by L. W. Blakely: Mises.org/RR_106_C
"Breaking Away: The Case for Smaller Polities" by Ryan McMaken (video): Mises.org/RR_106_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the Alex Jones verdict and the weaponization of defamation law. Now that Twitter is under Elon Musk's control, will the regime increasingly turn to the court system to crack down on the "dangers" posed by "misinformation"?
Use promo code ROTHPOD for a 20% discount on Ryan McMaken's new book Breaking Away: The Case for Secession, Radical Decentralization, and Smaller Polities: Mises.org/RR_105_Book
Recommended Reading "The Alex Jones Verdict Shows the Danger of Defamation Laws" by Ryan McMaken: Mises.org/RR_105_A
"Modern Information Control: State Intervention and Mistakes to Avoid by Kelly Offield: Mises.org/RR_105_B
"Florida's Social Media Anticensorship Law and the Court's Tortured Legal Logic" by Tate Fegley: Mises.org/RR_105_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Tho Bishop talk with historian Chris Calton about student loans, "the college experience," and the lack of ideological diversity on college campuses today.
Use promo code ROTHPOD for a 20% discount on Ryan McMaken's new book Breaking Away: The Case for Secession, Radical Decentralization, and Smaller Polities: Mises.org/RR_104_Book
Recommended Reading "College as an Economic and Social Problem: Dealing with the Culture" by Chris Calton: Mises.org/RR_104_A
"Higher Education Woes: Student Loans Help Fuel Higher College Costs" by Chris Calton: Mises.org/RR_104_B
"Higher Education in Crisis: The Problem of Ideological Homogeneity" by Chris Calton: Mises.org/RR_104_C
"The Perils of Higher Education: Institutional Failure" by Chris Calton: Mises.org/RR_104_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Connor Mortell joins Ryan McMaken and Tho Bishop to discuss his recent article entitled "We Are Not the Government, but America Is No Longer Anything More than the Government" and to consider what it means to be an American in the current era. As Americans become increasingly divided politically and culturally, and as those divides fuel a great migration within the country, what truly unites Americans—beyond sharing a common oppressive regime? How modern is this development? What can be done to further build on these trends, to undermine the control of that regime further? These questions and more are considered in this episode of Radio Rothbard.
Recommended Reading "We Are Not the Government, but America Is No Longer Anything More than the Government" by Connor Mortell: Mises.org/RR_103_A
"College Conference Switching as Secession? A Case Study in 'Nations by Consent'" by Connor Mortell: Mises.org/RR_103_B
"Nations by Consent" by Murray N. Rothbard: Mises.org/RR_103_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Until the day comes that a majority of the population wants to abolish all states, it makes sense in the meantime to look to ways that will reduce the power of states, localize that power, and take at least some of it out of the hands of some of the most powerful ruling state elites. This episode of Radio Rothbard features Ryan McMaken's talk presented at the Mises Institute 40th Anniversary Supporters Summit in Phoenix, Arizona, on October 7, 2022.
Recommended Reading "On Secession and Small States" by Ryan McMaken: Mises.org/RR_102_A
"What We Mean by Decentralization" by Lew Rockwell: Mises.org/RR_102_B
"The European Miracle" by Ralph Raico: Mises.org/RR_102_C
"Nations by Consent" by Murray N. Rothbard: Mises.org/RR_102_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan and Tho talk with Mises.org author and German native Rosanna Weber about the energy crisis in Germany. German policymakers have greatly worsened the ongoing energy crisis in Germany by abandoning nuclear energy and taking a hard line on Russian natural gas. Now with the damage done to the Nord Stream pipeline, German consumers face even fewer options as winter approaches.
Rosanna Weber is a graduate student in Economic History at the London School of Economics and a freelance journalist.
Recommended Reading "Germany's Nuclear Choice: Russian Energy Crisis Forces a Reckoning" by Rosanna Weber: Mises.org/RR_101_A
"Eat or Heat: Europeans Already Are Facing Previously Unthinkable Dilemmas" by Claudio Grass: Mises.org/RR_101_B
"Europe Ditched Russian Energy. Now People Are Sitting in Line For Days to Buy Coal. Is Biden to Blame?" by Alice Salles: Mises.org/RR_101_C
"Germany's (and Europe's) Self-Inflicted Upcoming Energy Crunch" by Weimin Chen: Mises.org/RR_101_D
"The 'Stunning Success' of the Green Revolution Is Yet Another Progressive Myth" by Kristoffer Mousten Hansen: Mises.org/RR_101_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Tate Fegley joins Ryan McMaken and Tho Bishop to discuss his recent Mises Wire article, "Private Property and Customer Safety: Starbucks Learns a Hard Lesson". As businesses increasingly interject broader "social values" into their business plans, customers are increasingly forced to make difficult decisions about how to navigate their economic behavior with ideological values. What role does the ideology of the state play in the decisions behind how businesses behave? Is a battle for power an inevitable consequence of a civil rights regime? How would these things be handled if we took property rights seriously?
This and more on this episode of Radio Rothbard.
Recommended Reading "Private Property and Customer Safety: Starbucks Learns a Hard Lesson" by Tate Fegley: Mises.org/RR_100_A
"The Equality Act's Attack on Religion Is Really about Private Property Rights" by Ryan McMaken: Mises.org/RR_100_B
"The Transgender Debate Should Be about Women’s Freedom and Private Property Rights" by Jess Gill: Mises.org/RR_100_C
"To Understand Economics, First Understand Private Property" by Chris Calton: Mises.org/RR_100_D
"Woke Capitalism Is a Monopoly Game" by Michael Rectenwald: Mises.org/RR_100_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Joseph Solis-Mullen take a look at brewing debt crises in emerging markets and how the dollar still looks good when compared to other global currencies.
Recommended Reading "How the Fed Helped Create Another Calamity: The Ongoing Emerging Market Debt Crisis" by Joseph Solis-Mullen: Mises.org/RR_99_A
"August's Price Inflation Soared, and That Means Earnings Fell Yet Again" by Ryan McMaken: Mises.org/RR_99_B
"Greenspan Would Be Proud: A Lesson in Fed Speak" by Joseph Solis-Mullen: Mises.org/RR_99_C
"It Just Might Be Time to Listen to the Austrians" by Joseph Solis-Mullen: Mises.org/RR_99_D
"Throwing the Fed's Machinery in Reverse: Fed Interest Rate Policies Continue to Damage the Economy" by Frank Shostak: Mises.org/RR_99_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the rhetoric surrounding the Federal Reserve. A growing chorus of pundits is attacking Jerome Powell for risking a recession, but this misses what has brought the economy to this point. Is it possible to get American attention spans to capture the true cause of our economic instability? Can monetary policy ride the wave of the current culture war? Ryan and Tho address this and more in this week's show.
Recommended Reading "Inflation: State-Sponsored Terrorism" by Jeff Deist: Mises.org/RR_98_A
"Blame the Fed for Both the Inflationary Boom and the Inevitable Bust" by Ryan McMaken: Mises.org/RR_98_B
"Inflation Kills" (Human Action Podcast) with Jeff Deist and Robert P. Murphy: Mises.org/RR_98_C
"We Cannot Interpret Economic Data Unless We Know Economic Theory" by Frank Shostak: Mises.org/RR_98_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Brandan Buck, a historian on the anti-war right and a recent participant at the Rothbard Graduate Seminar. The conversation looks at the parallels between modern American politics and the political climate that gave rise to America's foreign policy in the second half of the 20th Century. How did the American right get dragged into the project of liberal imperialism? Is China the new Evil Empire? How important are figures like Tucker Carlson in questioning the war narrative? These questions and more are answered in this episode.
SPECIAL OFFER: Use coupon code RothPod at the Mises Store to save 20% off of Murray Rothbard's classic The Betrayal of the American Right: Mises.org/Betray.
Follow Brandan Buck on Twitter: @Brandan_Buck
Recommended Reading "No ‘Putin apologia’ and certainly not new: the Old American Right on war" by Brandan Buck: Mises.org/RR_97_A
"Bear Any Burden: Military Sacrifice and Rise of American Populism" by Brandan Buck: Mises.org/RR_97_B
"A History of Distrust: How the Right Lost Faith in Institutions" by Brandan Buck: Mises.org/RR_97_C
"Fly Over Country, the Gunbelt, and the Nationalization of America Internationalism" by Brandan Buck: Mises.org/RR_97_D
The Betrayal of the American Right by Murray N. Rothbard: Mises.org/RR_97_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the popularizing of the term "regime" being used against the Federal government. As a recent Bulwark article notes, this change in framing can be seen in conservative politicians like Ron DeSantis to publications like The Federalist. Ryan and Tho welcome the American right sounding more and more like Lew Rockwell, and touch on the contributions of paleoconservatives like Sam Francis.
Recommended Reading "World War I as Fulfillment: Power and the Intellectuals" by Murray N. Rothbard: Mises.org/RR_96_A
"The Problem With Right-Wing Regime Talk" by Joshua Tait: Mises.org/RR_96_B
"The Violent Fantasies of Blake Masters" by Sam Adler-Bell (New York Times): Mises.org/RR_96_C
"Inside the New Right, Where Peter Thiel Is Placing His Biggest Bets" by James Pogue (Vanity Fair): Mises.org/RR_96_D
"The Paranoid Style in American Politics" by Richard Hofstadter (Harper’s Magazine): Mises.org/RR_96_E
"Secede From the Regime" with Ryan McMaken and Lew Rockwell: Mises.org/RR_96_F
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this celebratory episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the fall of the Cheney and Bush dynasties and what it means for American politics. Other topics include former CIA directors declaring war on half of America, and just how much money Liz Cheney made in DC.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop dive into the FBI's raid of Donald Trump. At a time when half the country already questions the legitimacy of the federal government, what may be the lasting consequences of this political escalation? What steps could Republican governors take if they want to be serious about reigning in the feds? And, was The X-Files the original QAnon? Ryan and Tho consider these questions and more.
Recommended Reading "A Stasi for America" by James Bovard: Mises.org/RR_94_A
"Abolish the FBI" by Ryan McMaken: Mises.org/RR_94_B
"Trump's Potential Legacy: 50 Million+ Enemies of the State" by Tho Bishop: Mises.org/RR_94_C
"Yes, the FBI is America’s Secret Police" by James Bovard: Mises.org/RR_94_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Zachary Yost discuss some of the strategic problems and historical oddities surrounding the relationships between the US, China, and Taiwan.
Additional Resources "Can China Conquer Taiwan?" Radio Rothbard with Ryan McMaken, Zachary Yost, and Tho Bishop: Mises.org/WES_03_A
"The World at War" by Ralph Raico (Video): Mises.org/WES_03_B
"Victory Without Battle: A Smarter Vision for US-Taiwan Policy " by Zachary Yost (PDF): Mises.org/WES_03_C
Be sure to follow War, Economy, and State at Mises.org/WES.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the regime's latest Orwellian word game to avoid acknowledging a recession. Is this an attempt to gaslight the country, or a reflection of economic pain being less obvious to the beltway class?
Recommended Reading "GDP Shrinks Again as Biden Quibbles over the Definition of Recession" by Ryan McMaken: Mises.org/RR_93_A
"The Fed Is Making It Up as It Goes, So It Ditched Forward Guidance" by Ryan McMaken: Mises.org/RR_93_B
"Yellen: Recession Doesn't Mean What You Think It Means" by Ryan McMaken: Mises.org/RR_93_C
"The Economy Needs a Volcker Moment" by Connor Mortell: Mises.org/RR_93_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
“The worst thing that can happen to a good cause is, not to be skillfully attacked, but to be ineptly defended." —Frédéric Bastiat
Tho Bishop gave this talk at Mises University 2021.
Additional Resources WhatHasGovernmentDoneToOurMoney.com
Watch or listen to Mises University 2022 at Mises.org/VMU22
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Tho Bishop is joined by Mises Research Fellow Marcel Gautreau for a wide-ranging conversation about challenges to the American-dominated neoliberal order. Marcel is a Ph.D. candidate studying economic and other policy reforms in non-liberal states and offers his perspective on how Rothbardian power-elite analysis is a powerful tool in understanding the world's most pressing issues today. He also shares his favorite Mises U lecture.
Additional Resources "Egalitarianism as a Revolt Against Nature" by Murray Rothbard: Mises.org/RR_91_A
For a New Liberty: The Libertarian Manifesto by Murray Rothbard: Mises.org/RR_91_B
Never a Dull Moment: A Libertarian Look at the Sixties by Murray Rothbard: Mises.org/RR_91_C
"A Rothbardian Analysis of the Constitutional Convention" by Patrick Newman: Mises.org/RR_91_Video
Marcel Gautreau on Twitter: @anarchyinblack
Watch Mises University 2022 live: Mises.org/Live
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss Jill Biden's "Latinx" outreach and recent polling that illustrates a dramatic shift in political voting patterns. Are we seeing the end of the modern political party system? Do the struggles of American progressives reflect a broader global divide between secular and traditionalist politics?
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by William Yarwood of Mallard UK (MallardUK.com) for a conversation about British politics. What led to the fall of Boris Johnson? What does the Prime Minister's resignation mean for Brexit? Is there anyone in British politics that is interesting? These questions and more are answered in this episode.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss a recent Mises Wire article about how the state uses holidays as a culture war weapon. Independence Day offers the rare opportunity for opponents of the regime to strike back on a holiday that explicitly celebrates secession and self-determination.
Recommended Reading "Juneteenth and Secular Holidays as Tools of the Regime" by Tho Bishop: Mises.org/RR_88_A
"3 Things to Remember on Independence Day" by Ryan McMaken: Mises.org/RR_88_B
"Was the American Revolution Radical?" by Murray N. Rothbard: Mises.org/RR_88_C
"The American Revolution Was a Culture War" by Ryan McMaken: Mises.org/RR_88_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop talk about the increasing decay of federal legitimacy. Republicans are threatening to nullify federal law. Democrats want to nullify Supreme Court decisions.
Oh, and the Supreme Court just eliminated one of the most political, ill-reasoned decisions in its history.
Recommended Reading "Abolish the Supreme Court" by Ryan McMaken: Mises.org/RR_87_A
"Make Every State a Sanctuary State" by Ryan McMaken: Mises.org/RR_87_B
"End Roe v. Wade: It's Time to Defederalize Abortion Policy" by Ryan McMaken: Mises.org/RR_87_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Zachary Yost examine some reasons why early Americans hated the idea of a professional standing army, and some of the tactics used to decentralize military power in the US and Switzerland.
Recommended Reading "Why We Can't Ignore the Militia Clause of the Second Amendment" by Ryan McMaken: Mises.org/WES_02_A
"The Second Amendment's Authors Would Hate Today's Huge Federal Military" by Ryan McMaken: Mises.org/WES_02_B
"Opposing Standing Armies: A Great American Tradition" by Zachary Yost: Mises.org/WES_02_C
"When State Governors Tried To Take Back Control of the National Guard" by Ryan McMaken: Mises.org/WES_02_D
Be sure to follow War, Economy, and State at Mises.org/WES.
Tho Bishop introduces a new Mises Institute podcast: War, Economy, and State, with Ryan McMaken and Zachary Yost. The War, Economy, and State podcast covers geopolitics and international relations from a free-market and anti-interventionist perspective. You can subscribe at Mises.org/WES.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Tho Bishop look at the question of election integrity and what it means for the regime. How should we look at the allegations made in the film 2,000 Mules? How should we view the concept of election security? What does history tell us about the relationship between state power and voter turnout? Tune in for this and more on this week's episode of Radio Rothbard.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Jeff Deist and Ryan McMaken talk police, guns, gun control, and the 2nd Amendment.
Recommended Reading "Uvalde's Biggest Mistake Was Trusting the Police to Keep Us Safe" by Ryan McMaken: Mises.org/RR_84_A
"Politicizing Mass Shootings Only Guarantees There Will Be More of Them" by Bill Anderson: Mises.org/RR_84_B
"Police Botched the Uvalde Standoff. Now Gun Controllers Want to Give Police More Power." by Ryan McMaken: Mises.org/RR_84_C
"Just How Common Are School Shootings?" by Ryan McMaken: Mises.org/RR_84_D
"End the Incorporation Doctrine" by Ryan McMaken: Mises.org/RR_84_E
"Police Have No Duty to Protect You, Federal Court Affirms Yet Again" by Ryan McMaken: Mises.org/RR_84_F
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop consider progressivism as a form of modern colonialism. The response to the prospects of the Supreme Court overturning Roe vs. Wade has highlighted the degree to which the American left—particularly those that reside in major blue cities—can't live with the concept of other areas of the country not abiding by what they see as moral absolutes. Ryan and Tho look at how this tension is shaping the modern political landscape, and they discuss the history of this impulse towards "liberal" centralization.
Recommended Reading "The New Postliberalism" by Jeff Deist: Mises.org/RR_83_A
"Federal Control of Abortion Laws Is Modern Colonialism" by Ryan McMaken: Mises.org/RR_83_B
"The Clash of Metropolis and Colony" by Charles and Mary Beard: Mises.org/RR_83_C
"Why the US Supports Secession for Africans, but Not for Americans" by Ryan McMaken: Mises.org/RR_83_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Tho Bishop is joined by JP Cortez of the Sound Money Defense League (SoundMoneyDefense.org). JP, a Mises U alum, talks about the ongoing legislative battles over money at the state level. Which states are doing the most to challenge the Fed? What are some of the most important policies worth fighting for in the future?
To learn more about the Monetary Metals scholarship, visit MoneyMetals.com/Scholarship.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In the first episode of this new podcast, Ryan McMaken and Zachary Yost discuss NATO, Turkey, Russia, and why the USA needs to leave it all behind.
Be sure to follow War, Economy, and State at Mises.org/WES.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss recent inflation news, broader chaos in financial markets, and another round of funding for Ukraine.
Recommended Reading "Inflation Up, Wages Down as Biden Passes the Buck to the Do-Nothing Fed" by Ryan McMaken: Mises.org/RR_81_A
"From El Salvador to Africa, the Next Currency War Pits Populists against Bankers" by Tho Bishop: Mises.org/RR_81_B
"Biden: Inflation Is Everybody’s Fault but Mine" by Ryan McMaken: Mises.org/RR_81_C
"Noninterventionism Is Not Isolationism: The US Government Should Stop Arming Ukraine" by Daniel Martin: Mises.org/RR_81_D
"Forget What the 'Experts' Claim about Deflation: It Strengthens the Economy" by Frank Shostak: Mises.org/RR_81_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Mises Graduate Program Provost and Constitutional law attorney Joe Becker joins Tho Bishop to break down the leaked opinion on the Dobbs case, potentially overturning Roe v. Wade. Joe provides a thorough breakdown of the logic behind the Alito opinion, and the two look at the impact this could have on American institutions broadly.
Recommended Reading Leaked draft decision, Dobbs v. Jackson Women's Health Organization (PDF): Mises.org/RR_80_A
"End Roe v. Wade: It's Time to Defederalize Abortion Policy" by Ryan McMaken: Mises.org/RR_80_B
"Why Social Issues Dominate" by Jeff Deist: Mises.org/RR_80_C
"Before Roe v. Wade, Abortion Had Always Been a State and Local Matter" by Ryan McMaken: Mises.org/RR_80_D
Mises Institute Graduate Program: Mises.org/edu
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the fallout from Elon Musk's purchase of Twitter. While the move reportedly has authoritarian corporate lawyers openly weeping on intra-company calls, what will be the real impact on political discourse? How did a once-favored Obama Administration ally become a supervillain for the progressive elite?
Recommended Reading "Elon Musk Bought Twitter, and the Pundits Sure Are Mad" by Ryan McMaken: Mises.org/RR_79_A
"Elon Musk's Twitter Gambit and What It Means to the Clique in Power" by Michael Rectenwald: Mises.org/RR_79_B
"Elon Musk, Crony Capitalist" by Lee Enochs: Mises.org/RR_79_C
"A Mixed Hero: A Libertarian Reassessment of Elon Musk" by Konrad Graf: Mises.org/RR_79_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the controversy surrounding recent Florida education reforms. Why does it benefit the state to erode the family structure, and what can be done to combat it?
Recommended Reading "Why Marxist Organizations Like BLM Seek to Dismantle the Western Nuclear Family" by Bradley Thomas: Mises.org/RR_78_A
"Don't Blame Capitalism for the Decline of the Extended Family" by Ryan McMaken: Mises.org/RR_78_B
"How Wage Work Liberated Women (and Men)" by Ryan McMaken: Mises.org/RR_78_C
"Why Do Socialists Hate Families?" by Jonathan Newman: Mises.org/RR_78_D
"Can Libertarians Have Communal Property?" by Ryan McMaken: Mises.org/RR_78_E
Leftism: From de Sade and Marx to Hitler and Marcuse by Erik von Kuehnelt-Leddihn: Mises.org/RR_78_F
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop take a look back at previous statements by current members of the Fed. For years, the Fed said the biggest problem was a lack of inflation. Now, with inflation at historic heights, is there any reason to believe the Federal Reserve is prepared for what to do next?
Recommended Reading "The Fed Who Cried Growth" by Jonathan Newman: Mises.org/RR_77_A
"We Still Haven't Reached the Inflation Finale" by Brendan Brown: Mises.org/RR_77_B
"Real Wages Fall Again as Inflation Surges and the Fed Plays the Blame Game" by Ryan McMaken: Mises.org/RR_77_C
"Do Inflationary Expectations Cause Inflation? Contra Krugman, the Answer Is No" by Frank Shostak: Mises.org/RR_77_D
"The Fed Can't Fix the Economy, but It Can Break It" by Jon Wolfenbarger: Mises.org/RR_77_E
"Kashkari Said What?" by Robert Aro: Mises.org/RR_77_F
Understanding Money Mechanics by Robert P. Murphy: Mises.org/BobMoney
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop mock the self-awareness of beltway foreign policy experts lamenting Putin's challenge to "rules-based international order." With countries like India and Brazil increasingly unwilling to follow the lead of America and the West in sanctioning Russia—and actively pointing out the hypocrisy of the US regime—we may be witnessing the end of the post-Cold War unipolar world.
Recommended Reading "The Rules-Based International Order Is Dead. Washington Killed It." by Ryan McMaken: Mises.org/RR_76_A
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at Ryan's article, "NATO: Our International Welfare Queens" (Mises.org/RR_75_A), breaking down how American taxpayers are subsidizing European militaries. The two also look at the increasingly aggressive positions taken by smaller NATO members, and the consequences this could have as the Russia-Ukraine conflict continues.
Recommended Reading "NATO: Our International Welfare Queens" by Ryan McMaken: Mises.org/RR_75_A
"European Environmentalists Have Made Energy Independence Impossible" by Daniel Lacalle: Mises.org/RR_75_B
"It All Comes Back to NATO" by Ron Paul: Mises.org/RR_75_C
"Is NATO a Dead Man Walking?" by José Niño: Mises.org/RR_75_D
"We Must Now Learn the Lesson of 1914, Not the Lesson of 1938." by Ryan McMaken: Mises.org/RR_75_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss whether Lindsey Graham is the worst member of the US Senate. The two carefully compare him to other terrible American senators — including Mitch McConnell and Tom Cotton — before settling on a definite conclusion.
Also on this episode, Ryan and Tho identify a silver lining to the Senate's Supreme Court confirmation hearing.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop talk about this year's Austrian Economics Research Conference and the value of interdisciplinary approach.
Watch AERC at Mises.org/LIVE
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the economic consequences of Russia's invasion of Ukraine. What has been the damage from America's weaponization of the dollar? Is Russia likely to return to the gold standard? What may be the fallout in Europe?
Recommended Reading "Can Government Successfully Counter Recessions Through Expansionary Policies? Don't Count on It" by Frank Shostak: Mises.org/RR_72_A
"Sanctions against Russia Are the Lockdowns of 2022" by Tho Bishop: Mises.org/RR_72_B
"The Steep Cost of Sanctions for Europe and Russia" by Daniel Lacalle: Mises.org/RR_72_C
"The Economy May Be Finally Peaking, and the Fed Won't Help Matters" by Brendan Brown: Mises.org/RR_72_D
"Why Sanctions Don't Work, and Why They Mostly Hurt Ordinary People" by Ryan McMaken: Mises.org/RR_72_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the fallout from the first week of the Ukraine-Russian conflict. What is the impact on American politics? Are Western leaders capable of de-escalation? What will be the lasting impact on other geopolitical fronts?
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Tho Bishop interviews Norm Singleton, senior fellow of the Market Institute and former legislative director for Congressman Ron Paul. Tho and Norm discuss the experience of being an Austro-libertarian within the belly of DC, the challenges Dr. Paul faced in office, and what Norm sees as some of the most important battles in Washington today.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Ash Navabi, a Canadian economist. Ash breaks down the differences in culture and political traditions between the US and Canada, and offers his take on the clash between the Freedom Convoy protests and the Trudeau regime.
Recommended Reading "Canada Nice No Longer: Trudeau's Totalitarian Response to Trucker Protests" by Mitch Nemeth: Mises.org/RR_70_A
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode, Ryan McMaken and Tho Bishop consider the counterfactual of what would have happened if Donald Trump were still president. What would the political landscape look like if it were a Republican administration dealing with historic unemployment? How would the reaction to the covid regime have looked in 2021? What would be the significance of the 2022 midterms and other political trends? That and more are covered on the latest Radio Rothbard.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan and Tho discuss Taiwan policy with Zachary Yost, author of a new paper on the prospects of a Mainland Chinese takeover of Taiwan. China faces some very large obstacles, but so does the United States.
Recommended Reading "Victory Without Battle: A Smarter Vision for US-Taiwan Policy " by Zachary Yost (PDF): Mises.org/RR_67_A
"China’s Military Strength Has Been Greatly Exaggerated" by Ryan McMaken: Mises.org/RR_67_B
"The US Military Isn't As Invincible As It Thinks" by Ryan McMaken: Mises.org/RR_67_C
"A Fat, Comfortable Military Is a Woke Military" by Ryan McMaken: Mises.org/RR_67_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Justice Stephen Breyer's retirement gives the Biden Administration something they desperately need: the opportunity to control a news cycle after weeks of bad economic headlines, worse polling, and international tension.
In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop take a look at some of the names being floated around for Breyer's replacement, and expose the inherently political nature of the Supreme Court.
Recommended Reading "Congress Should Pack the Supreme Court" by Ryan McMaken: Mises.org/RR_66_A
"The Supreme Court Is Overrated" by Ryan McMaken: Mises.org/RR_66_B
"Abolish the Supreme Court" by Ryan McMaken: Mises.org/RR_66_C
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
With the prices of everything rising at historic rates, no issue is shaping politics more right now than inflation. Unfortunately for Americans, Republicans in Washington appear no more serious on the Federal Reserve than the Biden Administration.
What lessons can be learned from the past? How might the Biden Administration respond? What can be done on the issue? In this Radio Rothbard, Ryan McMaken and Tho Bishop dive into the politics of inflation.
Recommended Reading "How Easy Money Inflated Corporate Profits" by Brendan Brown: Mises.org/RR_65_A
"The Economy May Be Finally Peaking, and the Fed Won't Help Matters" by Brendan Brown: Mises.org/RR_65_B
"How Asset Price Inflation Is Different from Goods Price Inflation" by Brendan Brown: Mises.org/RR_65_C
"Monetary Inflation and Price Inflation" by Robert P. Murphy: Mises.org/RR_65_D
"Ending Fiat Money Won't Destroy the State" by Ryan McMaken: Mises.org/RR_65_E
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In this episode of Radio Rothbard, Ryan and Tho trade predictions for the year ahead. Topics include the importance of internal primaries ahead of next year's mid-terms, predictions on what the Fed will do with rising inflationary pressure, and what comes next from the covid regime.
Additional Reading "Americans May Finally Be Losing Confidence in the Woke Military" by Jose Nino: Mises.org/RR_64_A
"Could 2022 Bring the Collapse of the Euro?" by Alasdair Macleod: Mises.org/RR_64_B
"Will Senate Republicans Endorse Biden-Powell Inflation?" by Tho Bishop: Mises.org/RR_64_C
"The Fed Is Hawkish Now? I’ll Believe It When I See It." by Ryan McMaken: Mises.org/RR_64_D
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In the first Radio Rothbard of 2022, Ryan McMaken and Tho Bishop discuss the regime's portrayal of the one-year anniversary of January 6.
While most Americans may care more about kitchen table issues than Washington's hysterics, already we have seen the state use last year's riot as an excuse to expand the prosecution of political minorities.
Is this a moment the American right will learn from, or will history once again be written by progressives?
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
"Let's Go Brandon!" scored an early win in Virginia, and hurt Democrats in New Jersey. Suburban voters seem to hate Critical Race Theory in schools more than they disliked Donald Trump, even as the corporate press dismissed it as a real issue.
Does last night's red wave indicate that average Americans are prepared to take back more local control from the federal regime, or is this yet another example of fickle democracy as usual? Ryan McMaken and Tho Bishop break down some of the notable 2021 election results, and talk about what it may mean for the future.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Washington politicos want to keep the debt going up at breakneck speed forever. But the responsible thing to do is refuse another increase to the debt ceiling and force a partial default. Politicians hate that idea because default would make it harder to spend trillions in deficit spending.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
For the foreign-policy non-interventionist, some schools of thought in international relations are much better than others. "Liberal hegemony" (the favored school of neoconservatives) has long supported endless war and intervention by the US regime worldwide. We discuss how we can use "realist" research to move the foreign policy needle away from liberal hegemony and toward a more sane foreign policy.
Guest: Zachary Yost (Mises.org/Yost) is a Marcellus Policy Fellow with the John Quincy Adams Society.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
China faces a wide variety of demographic, geopolitical, and economic limits on the regime's power. And, socialism and Keynesianism don't work any better in China than in the USA. Moreover, contrary to the myth, China is not run by politicians who are brilliant geniuses who "play the long game."
Additional Reading "China’s Military Strength Has Been Greatly Exaggerated" by Ryan McMaken: Mises.org/RR_59_Article1
"China's Biggest Problem Isn't Trump, It's a Broken Banking System" by Tho Bishop: Mises.org/RR_59_Article2
"If the US Wants to Beat China, Why Is It Copying China's Socialism?" by Mihai Macovei: Mises.org/RR_59_Article3
"China’s Military Strength Has Been Greatly Exaggerated" by Ryan McMaken: Mises.org/RR_59_Article4
"China Won't Be Taking Over the World" by Joseph Solis-Mullen: Mises.org/RR_59_Article5
"The China Model Is Unsustainable" by Doug French: Mises.org/RR_59_Article6
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
In June 2021, Missouri passed a new law stating it would not assist in the enforcement of federal gun laws. Tho and Ryan discuss how states can use strategies like this to resist federal laws within the states. Marijuana legalization and opposition to the Fugitive Slave Acts provide compelling historical examples.
Articles Mentioned in this Episode "Missouri Tells the Feds: We Won't Enforce Your Gun Laws" by Ryan McMaken: Mises.org/RR_58_01
"When Nullification Works, and When it Doesn’t" by Ryan McMaken: Mises.org/RR_58_02
"The Feds Collect Most of the Taxes in America—So They Have Most of the Power" by Ryan McMaken: Mises.org/RR_58_03
"Nebraska and Oklahoma Sue Colorado Over Legal Cannabis" by Ryan McMaken: Mises.org/RR_58_04
"Nullification Works: Congress Ends Federal Ban on Medical Marijuana" by Ryan McMaken: Mises.org/RR_58_05
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Government schools have always been tools of the regime for teaching state-approved ideology and culture. The rise of critical race theory is just the latest phase for America's public schools system.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Tucker Carlson seems to believe that if it weren't for immigrants, America would be dominated by religiously devout, tradition-minded, liberty-loving Americans in every corner of the nation. Perhaps he's not familiar with the effects of American universities and public schools?
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
We're now living in Biden's America. But what does that mean? It means a continuation of trends already in place: the long slow decline of America's institutions, and the public's faith in them.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Tho Bishop discuss five reasons why Rothbard's work is so memorable. From his fearlessness in the face of opposition, to his commitment to peace and decency, Rothbard provides us with a model of principled scholarship.
Additional Resources "Nations by Consent": Mises.org/RR_54_02
Egalitarianism as a Revolt Against Nature, and Other Essays: Mises.org/RR_54_03
"A Strategy for the Right": Mises.org/RR_54_04
A History of Money and Banking in the United States: The Colonial Era to World War II: Mises.org/RR_54_05
An Austrian Perspective on the History of Economic Thought, Volume 1: Economic Thought Before Adam Smith: Mises.org/RR_54_06
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Tho Bishop and Zachary Yost join Ryan McMaken to discuss covid politics in three states, and whether anyone is paying any attention to social distancing rules anymore.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
After decades of financialization and government favors, Wall Street now has little to do with free, functioning markets anymore and has largely become an adjunct of the central bank. Today, entrepreneurship is out, and bailouts are in.
Additional Resources "Financialization: Why the Financial Sector Now Rules the Global Economy" by Ryan McMaken: Mises.org/RR_52_Article
"Monetary Policy and Inequality" Karl-Friedrich Israel: Mises.org/RR_52_Video
"Speaking Truth to Monetary Power" by Lew Rockwell: Mises.org/RR_52_Article2
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
We're supposed to believe that with Trump gone, political discourse will now be more honest and accurate. The reality is the Washington establishment is built on lies and myths and conspiracy theories. Here are just a few of them, from Russiagate to government spending.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Tho Bishop discuss some of the new policies the Biden administration wants to inflict on us, on topics ranging from Bitcoin to foreign policy.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Democrats and anti-Trump GOP leaders are calling the Capitol riot a "coup" and "treason." This is in part because if Washington politicians can portray the riot as a grave threat, they can use the riot as an excuse to greatly expand federal power.
Additional Reading "There Is No Such Thing as Treason" by Ryan McMaken: Mises.org/RR_49_01
"The Capitol Riot Wasn’t a Coup. It Wasn't Even Close." by Ryan McMaken: Mises.org/RR_49_02
"The Truth about January 6, and Where We Should Go from Here" by Lew Rockwell: Mises.org/RR_49_03
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
The United States has gone through at least six "party systems." Populism, war, or economic crises usually trigger a change from one system to another. Ryan McMaken and Tho Bishop host Patrick Newman.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Jeff Deist, Ryan McMaken, and Tho Bishop discuss Wednesday's takeover of the US capitol building. What are the potential long term effects, and just how much of a double standard does the American media have?
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
There's no reason to assume 2021 will bring a reversal of 2020's trends. Many of the fights that began in 2020 are likely to intensify in the new year.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Tho Bishop debate whether Ebenezer Scrooge's words and actions teach us important economic truths, or if he's just an ignorant crank.
Radio Rothbard is available on Apple Podcasts, Google Podcasts, Spotify, Soundcloud, Stitcher, and via RSS.
Additional Reading "The Case for Ebenezer" by Butler Shaffer: Mises.org/RR_45_01
"Scrooge Defended" by Michael Levin: Mises.org/RR_45_02
"Defending the Miser" by Walter Block: Mises.org/RR_45_03
"Was Scrooge the Victim in A Christmas Carol?" by Ryan McMaken: Mises.org/RR_45_04
"Correcting Scrooge's Economics" by Ryan McMaken: Mises.org/RR_45_05
"Ebenezer Scrooge's Tiresome Crusade Against 'Consumerism'" by Ryan McMaken: Mises.org/RR_45_06
"This Christmas, Let's Celebrate a Different Scrooge: Scrooge McDuck" by Kristoffer Mousten Hansen: Mises.org/RR_45_07
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Expect more of the same in 2021. The Fed has no real plan. It is just lurching from one crisis to the next, hoping more easy money will buy some time. It's been doing this since 2008, and there's little chance it will stop now.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
We begin to understand the electoral college when we admit the United States is really supposed to be a collection of member states, and not a single unified nation. Abolishing the EC is likely to worsen national conflict and disunity.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
The GOP is at its worst when it's run by the old Bush-Romney-Cheney faction that was in power before Trump. Will "Trumpism" endure, or will the party go back to its old warmongering, pro-establishment ways?
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Murray Rothbard was enthusiastic about fighting for laissez-faire and freedom through both scholarship and political activism. He wasn't afraid to push freedom and free markets with everyone he could, including academics, politicians, the media, and the public.
Additional Resources "3 Reasons the Left Keeps Winning" by Ryan McMaken: Mises.org/RR_41_1
"Why GOP Loyalists and Candidates Keep Moving Left" by Ryan McMaken: Mises.org/RR_41_2
"Both Theory and Praxis: Rothbard's Plan for Laissez-Faire Activism" by Ryan McMaken: Mises.org/RR_41_3
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
The votes still aren't counted, but when it's all over, we'll still be in a country at war with itself over which half of the country gets to boss around the other half. Ryan McMaken and Tho Bishop discuss the failure of the pollsters, the imaginary Blue Wave, and the end of naive democracy.
Additional Resources "The Election Was a Tie. Now What?" by Ryan McMaken: Mises.org/RR_40_3
"Close Elections Force Us to Ask Unpleasant Questions about Democracy" by Ryan McMaken: Mises.org/RR_40_2
"Why Threats of Election Violence May Be Here to Stay" by Ryan McMaken: Mises.org/RR_40_1
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Why did Murray Rothbard embrace populism and why did he think it could work to limit the power of the state? In short, Rothbard believed that a small elite had seized the power of the state to fleece and oppress the majority. Rothbard was in part basing his ideas on the historical narrative of the Democratic populists of the nineteenth century who formed the party of sound money, low taxes, and decentralized power. This laissez-faire party also managed to win a lot of elections.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Hans-Hermann Hoppe has shown in his writings on democracy that democracy leads to economic impoverishment and political disaster under certain conditions.
But what are those conditions, and are they dominant in electoral institutions in the United States today? And what role does ideology play in limiting the abuse of the ballot box by voters?
Additional Resources "Stop Saying We're a Republic, Not a Democracy" by Ryan McMaken: Mises.org/RR_38_1
Patrick Newman's 2020 Supporters Summit talk, "The Jacksonians’ Bank War: Liberty versus Power": Mises.org/RR_38_2
"Nasty Politics and 'Low-Information Voters' Are Nothing New" by Ryan McMaken: Mises.org/RR_38_3
What Must Be Done by Hans-Herman Hoppe: Mises.org/RR_38_4
And, be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Although many politicians and pundits have deified democracy, it often leads to the oppression of political minorities while encouraging abuse. Here are some strategies for lessening the damage democracy can do.
And be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Americans have been trained to regard the US Supreme Court as a principled, non-political institution whose rulings must be obeyed. This assessment of the court is very wrong.
And be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Ryan McMaken and Tho Bishop talk about Tuesday's debate, why "the issues" don't matter, and why the debate probably won't change the minds of many voters.
And be sure to follow Radio Rothbard at mises.org/RadioRothbard.
This show features a personal and revealing interview of Comic Dave Smith by Jeff Deist. It shows a side of Dave you haven't seen before—so don't miss it.
And be sure to follow Radio Rothbard at mises.org/RadioRothbard.
Our first show was recorded with a raucous live audience at our recent event in Orlando, with Jeff Deist hosting and Lena Wang, Tho Bishop, and Patrick Newman joining. They handicap Trump's reelection chances, consider whether Biden makes it to election day, and defend the young shooter Kyle Rittenhouse caught up in the Kenosha riots. Don't miss this hardboiled hour of pro-liberty populism, with a strong dose of anti-politics every Rothbardian will love!
Trump's executive order providing a short deferment on payroll taxes is not really a tax cut. But many voters may perceive it as one.Original Article: Trump's Payroll Tax Order Is Good Politics, but Doesn't Offer Much Tax Relief.
No doubt, many of Harris's detractors will call her radical or a tool of the far left. The reality is actually far more alarming.
Original Article: Kamala Harris Is Basically Obama-Clinton 2.0, But Worse.
Although it's easier to buy guns in Indiana and Wisconsin than in Chicago, homicide rates are lower in those states than in either Illinois or Chicago.
Original Article: Why Chicago's Mayor Blames Her City's Murders on Wisconsin and Indiana.
Even The New York Times now admits there is a deep state — and that it serves its own agenda while ignoring the elected civilian government.
Original Article: It's Trump vs. the Deep State vs. the Rest of Us.
Ryan McMaken and Tho Bishop join for a discussion on the differences between Congress and state legislatures. Drawing from personal experiences, the two look at the differences in incentives, leadership power, and legislative process, to look at what makes Washington DC so particularly dangerous to liberty.
It appears many Indians and Brazilians and Chinese are willing to risk the global warming for a chance at experiencing even a small piece of what wealthy first-world climate activists have been enjoying all their lives.Original Article: Greta Thunberg To Poor Countries: Drop Dead.
When a parent leaves the work force to focus on parenting, this shows up in government stats as lower employment and less consumer spending — suggesting a less productive economy. But that's not what's going on at all.
Original Article: Why the Government Can't Measure Income, Happiness, or Well-Being.
The resurgent claim that the modern economy was built on slavery is yet another attempt to attack capitalism while also claiming "we are all to blame" for slavery. The slave owners of old tried a very similar tactic.
Original Article: Why They Keep Trying to Blame Capitalists for Slavery.
Virtually all laws involve "legislating morality." When people use this phrase they often really just mean "I want laws to back my version of morality, not yours."
Original Article: "Libertarian" Is Just Another Word for (Classical) Liberal.
By slapping new regulations on high-interest credit cards, Bernie and Ocasio-Cortez will just prevent high-risk borrowers from getting loans.
Original Article: "Bernie and Ocasio-Cortez Declare War on the Poor With Anti-Credit-Card Law".
Virtually all laws involve "legislating morality." When people use this phrase they often really just mean "I want laws to back my version of morality, not yours."
Original Article: "Every Law 'Legislates Morality' — From Abortion to Minimum Wage".
Compared to other types of universal healthcare systems, what we call "single-payer" healthcare is possibly the worst of all.
Original Article: "Single-Payer Healthcare Is the Worst Kind of Universal Healthcare".
The Bill of Rights doesn't mention that freedom of speech is restricted to a special class of establishment journalists. Freedom of speech is a universal property right, regardless of what the establishment-media gatekeepers say.
Original Article: "Yes, Julian Assange Is a Journalist — But That Shouldn't Matter".
Season 3, Episode 54 After Grant’s army moved on from Pittsburg Landing, the horrors of the battle remained for the people living there. Focusing primarily on the story of nine-year-old Elsie Duncan, Chris recounts the terrible years that followed the Battle of Shiloh for the civilians left in its wake.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
This episode features a talk Chris Calton gave to Auburn’s Young Americans for Liberty on April 20, as part of the Reclamation of Liberties event.
In the talk, Chris offers an overview of the history of the governmental efforts to stigmatize marijuana in order to justify criminalization and draconian enforcement policies. He traces the changing narrative and strategies for propaganda to illustrate the evolution of propaganda over time, providing insight into how the government and media work together to shape public perception.
You can find the other two talks, given by Dr. Mark Thornton and Tho Bishop here.
You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 53 "Professor CJ" of the Dangerous History Podcast joins Chris Calton to tell the story of Shiloh from the perspective of two soldiers, from their own personal memoirs of the battle. One story follows the experiences of Henry Morton Stanley, a twenty-one-year-old Confederate. The other story involves the sixteen-year-old John Cockerill, a Union drummer boy. These two eloquently written memoirs illustrate the true history of the Civil War better than any account of officer deaths or battlefield tactics.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 52 The second day of battle brought fresh Union soldiers to the battlefield. They could hardly comprehend the destruction they witnessed from the day before. The bloodshed resumed until the overwhelmed Confederates were forced to retreat to Corinth. This episode also tells the oft-neglected story of the Battle of Fallen Timbers, in which William Tecumseh Sherman and Nathan Bedford Forrest met each other in battle.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 51 As the Union line fell back, they condensed at the bottom of a ravine. As the thousands of soldiers in each army crowded in to fight in the narrowest portion of the battlefield, the area earned the nickname “The Hornet’s Nest.” Before the day was done, thousands of men would fall, including the highest ranking officer to lose his life during the entire war.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 50 At the beginning of the Battle of Shiloh, the Confederacy caught the Union by surprise. However, one Union Colonel suspected that an attack was coming, and he formed his men into a defensive line that bought the rest of the Union troops time to join the fight. Instead of a quick Confederate victory, both armies faced a bloody battle of attrition.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 49 Following the victories at Forts Henry and Donelson, Grant’s commanding officer still wanted to remove him from command. During this time, he formed a strong friendship with William Tecumseh Sherman. As the Union army was amassing troops at Pittsburg Landing, the Confederate forces in the West were concentrating at Corinth. The Confederates decided that they should take the initiative in the coming battle.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 48 While Confederates were facing disaster at Leetown, General Van Dorn and his Confederates at Elkhorn Tavern were fighting the Union forces with more success. But after pushing the Union forces back on the first day of fighting, they found out that they would not be reinforced by General Ben McCulloch’s 7,000 man division. This two-day battle is often overshadowed by other battles that were fought shortly before and after it, but at the time it took place, the Battle of Pea Ridge was the bloodiest battle the war had yet seen.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 47 The Battle of Pea Ridge was fought on two fronts, one at Leetown, and the other at Elkhorn Tavern. The combat at Leetown was led by Ben McCulloch, who commanded a force that greatly outnumbered the Union opponents. But due to a series of unfortunate disasters, the Confederate assault would fall apart, demonstrating what is likely the greatest example of a breakdown in leadership during the entire war.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 46 After Grant pushes the Confederates back to Fort Donelson, the southern leaders had to decide whether to attempt escape or surrender. Ultimately, the surrender was carried out in a way that created scandal for the Confederate leaders who did manage to escape, and it gave Grant the opening to earn his nickname in the North: “Unconditional Surrender” Grant.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 45 The Battle of Fort Donelson would take place over several days. Waged from two fronts, the land and the river, the battle would seem to be turning in favor of the Confederates. While Ulysses S. Grant was off the battlefield consulting with the naval commander, Captain Foote, the Confederates would push the Union back, opening the door for escape.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
It's government — not markets — that intervene to "stimulate" ever greater amounts of spending and consumption. A healthy market economy, meanwhile, relies on both saving and spending.
Original Article: "Capitalism Doesn't Cause Consumerism — Governments Do".
Season 3, Episode 44 By taking Fort Henry, Ulysses S. Grant and Andrew Hull Foote gained access to the Tennessee River. This waterway gave them access to the Confederate heartland, and by taking the Fort, they were able to probe deep into Alabama. This earned the Union a bounty of new supplies, and also struck a tremendous psychological blow against the Confederates in the Deep South who believed that they were, up to that point, secure from Yankee invasion.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Many people on the left regard economics as neither a science nor a principled field of study. For them, economics is just a pseudo-science invented as corporate propaganda, and people who push "free-market economics" do so because they are either evil or brainwashed by corporate masters.
Original Article: "Why the Left Isn't Convinced by Your Economics Arguments".
If climate change effects aren't enough to put a noticeable dent in life expectancy, then why is climate change talked about as an apocalypse?
Original Article: "If Climate Change Is Killing Us, Why Is Life Expectancy Increasing?".
Season 3, Episode 43 As Lincoln grew impatient with his generals, he sent an order demanding action. In the West, Ulysses S. Grant was eager to comply, while other Union generals dithered and delayed offensive operations. Confederate forces were building forts on the Tennessee and Cumberland Rivers – Forts Henry and Donelson – and they believed that the Union attack would focus on the Mississippi. But coming into 1862, the Union officers had realized that it was this pair of rivers running through Kentucky and Tennessee that would serve as the gateway to the Confederacy.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
To understand the marketplace, it is not necessary to believe in the existence of a selfish, profit-maximizing human.
Original Article: "The Homo Economicus Straw Man".
Season 3, Episode 42 On March 9th, 1862 — the day after the ironclad Merrimack destroyed two Union warships — the Confederate navy would meet its match in battle against the USS Monitor. Both sides would claim victory in the battle, but the true legacy would be the transformation of naval warfare across the globe.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 41 John Ericsson’s design for the Monitor was only a skeleton when he was awarded the contract to have it built. In a race to match the feared Merrimack, Ericsson had to quickly construct a working, combat-ready iron ship that would receive its first test in combat. If the ship proved a failure, Ericsson would be forced by the US government to pay back every penny invested in the experimental ship – which most people expected to sink like a rock. This episode details the incredible process of constructing this technological marvel.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 40 The Union’s response to the Confederate ironclad was an iron warship of its own. Unlike the Merrimack, the USS Monitor was a tremendous technological innovation, nearly single-handedly designed by a Swedish engineer named John Ericsson. This episode details his incredible life and the many failures that would culminate in the successful Monitor that would make him famous.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 39 On March 8, 1862, the ironclad Merrimack — renamed the CSS Virginia — was tested in battle against three of the Union’s most powerful wooden ships. The outcome of the battle would usher in a new age of naval warfare, in which wooden ships would be rendered entirely obsolete.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 38 To combat the superior size of the United States Navy, the Confederacy believed that its best strategy was to build a technologically superior — if much smaller — Navy. The cornerstone of this strategy was to recover the USS Merrimack and plate it with iron, making it the first ironclad warship in North America.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 37 Early in 1862, General Ambrose Burnside conquered the North Carolina coast, providing an important — but often overlooked — strategic victory for the Union.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 36 In this mini-episode, Chris Calton briefly reviews the important themes and takeaways from the first year of the war.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
French protests over a new climate-change-inspired fuel tax highlight high costs imposed on ordinary people by climate-change policies.
Original article: "French Protestors Fume over Climate Taxes and a Rising Cost of Living".
When the Americans with Disabilities Act was passed, employers hired fewer disabled workers, because they feared lawsuits. We may now be seeing a similar trend in the face of more sexual harassment claims.
Original Article: "After #MeToo, Men Begin Avoiding Female Co-Workers".
As the EU tries to exploit the UK in Brexit negotiations, the US should adopt total unilateral free trade with the UK.
Original article: "We Need Unilateral Free Trade with Post-Brexit Britain".
Season 3, Episode 35 In this episode, Chris Calton details how technological innovations changed the course of naval warfare. By taking advantage of this new technology, the Union Navy was able to easily capture Hatteras Inlet and Port Royal Sound, which would prove strategically important in the establishment of their blockade.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 34 At the outset of the war, Winfield Scott came up with his “Anaconda Plan” to blockade the entire southern coast. This looked to be easier said than done, as the Union had a very small navy. The Confederates, by contrast, had no navy at all. This episode details the ways that both countries tried to overcome these problems in order to fight a war on the waters.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 33 With many of the Civilized Indians wishing to remain neutral in the Civil War, a Muscogee leader named Opothle Yahola led a group of thousands of fugitives to Kansas. As they fled, Confederate soldiers, along with their Native American allies, gave chase, fighting a series of battles known as the Trail of Blood on Ice.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 32 After being forced to move west during the Trail of Tears, the Cherokee Nation was bitterly divided into two factions. Although they remained officially unified, the factionalism remained through the Civil War and reemerged as a division between the Cherokee who favored the Union, or at least neutrality, and those who wanted to ally with the Confederacy. Similar to the border states, the decision to join the Confederacy was controversial, and many Native Americans refused to fall in line, demonstrating that the alliance with the Confederacy was not as simple as many historians make it seem.
Chris Calton recounts the controversial history of the Civil War. You may support this podcast financially at Mises.org/SupportHC. Subscribe today at Spotify, Google Play, iTunes, SoundCloud, Stitcher, or via RSS.
Season 3, Episode 31 In 1861, the Five Civilized Tribes — the Cherokees, Creeks, Chickasaws, Choctaws, and Seminoles — would be faced with the decision of staying neutral or choosing a side in the Civil War. To understand their decision, Chris Calton takes a look at the long history of Indians becoming, in the eyes of Americans, "civilized".
Chris Calton recounts the controversial history of the Civil War. This is the 31st episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
We're often told that submission to government edicts is "voluntary" because we have "representative" government. The evidence suggests, however, that politicians don't represent their constituents. Nor could they, even if they wanted to.
Original article: "No Matter How You Vote, Politicians Don't Represent You".
Season 3, Episode 30. After months of growing tension between the United States and Britain, a single event nearly plunged the two countries into war. When a Union naval officer illegally boarded a British mail ship and arrested two Confederate diplomats, many British leaders saw it as a deliberate provocation, engineered by William Seward, to provoke Britain into a war over its Canadian territory. After news of the arrest reached London, tempers were so high that many people, in reflection, believe that the only thing that prevented war was the delayed communication between the two countries that came from a broken telegraph cable.
Chris Calton recounts the controversial history of the Civil War. This is the 30th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Voting "no" on a tax increase doesn't mean you really consented to it. And, Lysander Spooner argued there's not anything wrong with voting "defensively."
Original article: "No, Voting Doesn't Mean You "Support the System".
Season 3, Episode 29. Even before taking office, Secretary of State William Seward had a history of making threatening statements toward Britain. After the war began, he continued to make one diplomatic faux pas after another, worrying Britain enough that they started sending troops to Canada in preparation for a possible war with the United States.
Chris Calton recounts the controversial history of the Civil War. This is the 29th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Season 3, Episode 28. The Union defeat at Ball’s Bluff would prove to be the final straw for the Congressional Republicans, who had been growing increasingly distressed by the Union failures at the outset of the war. Their response was to form a committee tasked with investigating the war—which really meant a political witch hunt determined to find alleged secessionist sympathizers and military scapegoats upon whom the politicians could place the blame for the Union failures.
Chris Calton recounts the controversial history of the Civil War. This is the 28th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Money spent on "luxuries" goes to support ordinary people who use profits from luxury goods to make a living and support their families.
Original article: It's OK To Buy Your Pet a Halloween Costume (and Other Luxuries).
Why is it that starving Venezuelans are eating dogs while Americans are rescuing dogs from hurricanes? Original article: Capitalism Makes Us More Humane.
Some inequality arises naturally from freedom of choice. Some comes from government meddling. One is good and the other is bad. Original article: Yes, Inequality Is a Problem — When Caused by the Government.
Season 3, Episode 27. After General Stone’s “slight demonstration” erupted into a small-scale battle, communication errors and battlefield mistakes continued to make matters worse for the Union army. The battle would not only end in a Union defeat, but it would also claim the life of one of President Lincoln’s closest personal friends.
Chris Calton recounts the controversial history of the Civil War. This is the 27th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Season 3, Episode 26. The Battle of Ball’s Bluff was a minor battle with major consequences. In this episode, Chris Calton details all the mistakes that were made leading up to the battle, setting the stage for a Union catastrophe.
Chris Calton recounts the controversial history of the Civil War. This is the 26th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Season 3, Episode 25. Lincoln believed that Kentucky, one of the four remaining slave states, was crucial to the Union war effort. Although the state was more thoroughly Unionist than other border states, such as Missouri and Maryland, the administration did not want to take any chances, sending the state’s loyalists thousands of guns and carrying out a policy of political arrests to ensure that Kentucky could not be taken over by secessionists. This episode concludes our look at the border states and the Union effort to prevent their secession.
Chris Calton recounts the controversial history of the Civil War. This is the 25th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Point of clarification: Although I didn't technically get this wrong, I believe my wording may have been unintentionally misleading. In a paragraph that is largely about the Northern presence in Kentucky, I say "General Leonidas Polk was occupying two towns in western Kentucky by September 3rd." This is correct, but I did not clarify for those who may not have been aware that Polk was a Confederate General, and that this occupation was a Confederate violation of Kentucky’s neutrality, which was justified by Polk on the grounds that the Union violated Kentucky’s neutrality first. In reviewing the context of my statement, I realize that listeners may likely interpret Polk as a Union officer.
Season 3, Episode 24. When Virginia decided to join the South, many Unionists in the western portion of the state were opposed to the move. The Lincoln administration wanted them to select representatives for “Restored Virginia,” maintaining the pretense that they were representing all of Virginia for the Union. But the Unionist political leaders were already imagining a secession of their own.
Chris Calton recounts the controversial history of the Civil War. This is the 24th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Season 3, Episode 23. As the fear of spies and traitors spread through the North, political arrests became commonplace, even in states as far north as Maine. Anybody expressing any anti-war sentiment would be assumed to be a traitor and a secessionist, and arrests were carried out according to a guilty-until-proven-innocent policy. Martial Law was not confined to the slave states.
Chris Calton recounts the controversial history of the Civil War. This is the 23rd episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Season 3, Episode 22. With former Republican presidential contender John C. Frémont now in charge of the Department of the West, the policies of Martial Law would be extended to the entire state of Missouri. Included in Frémont’s declaration of Martial Law is the first emancipation proclamation of the war — a proclamation that would not sit well with President Lincoln, who was worried about the effect such a dictate might have on Kentucky.
Chris Calton recounts the controversial history of the Civil War. This is the 22nd episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Season 3, Episode 21. After an early morning victory, the Battle of Wilson’s Creek concentrates on a hill that would later be named Bloody Hill. Despite the advantages won by a successful surprise attack, the Union army would find itself on the defensive, and the battle would end with the first general officer killed in the Union army.
Chris Calton recounts the controversial history of the Civil War. This is the 21st episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
F.A. Hayek (1899–1992) was the most important representative of the “fourth generation” of the Austrian school of economics and the only one so far to receive the Nobel Prize. His many contributions are highlighted by Peter Klein.
Hayek considered himself a socialist until he read Mises's Socialism, where Mises argued that prices and private property are a requirement of economic calculation. He attended Mises’s private seminar along with other top young economists and went on to build upon Mises’s monetary theory. He developed an explanation of business cycles brought on by bank credit expansion encouraging malinvestments in capital.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 20. The second large scale battle of the Civil War, the Battle of Wilson’s Creek would prove to be one of the bloodiest battles of the entire war, in proportion to the number of men participating. Lyon initiates the battle in an aggressive early morning ambush, hoping to cripple the larger Confederate forces before ordering the Union retreat to safer territories.
Chris Calton recounts the controversial history of the Civil War. This is the 20th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Mises first addressed the topic of human migration at length in Liberalism, published in 1927 during the interwar period and influenced by the death and destruction he witnessed a decade earlier as an officer in the Austro-Hungarian Army.
Read the original article: mises.org/wire/immigration-roundtable-ludwig-von-mises.
Season 3, Episode 19. As the Union forces pursue the Missouri secessionists to the southwest corner of the state, they fight a number of small skirmishes that serve as preludes to the Battle of Wilson’s Creek.
Chris Calton recounts the controversial history of the Civil War. This is the 19th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Jeffrey Herbener discusses the significant contributions of Frank Fetter (1863–1949) on the implications of the marginalist revolution. Fetter identified with not only the Austrian school but in particular the branch that developed Menger’s causal-realist approach to economics.
Fetter’s major achievement was to reform the Classical theory of income distribution to bring it into line with subjective value theory. In doing so, he stressed the need for economic theory to realize the importance of capital and its place in industrial affairs.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 18. After the “Walnut Street Massacre” in St. Louis, more people shift their support to the Confederacy. In response, Nathaniel Lyon declares war on the state of Missouri, and wages the first small, but significant, battle of the state in Booneville.
A strong member of the “second generation of the Austrian school of economics,” Eugen von Böhm-Bawerk (1851–1914) and his works are discussed by Peter Klein. Böhm-Bawerk did much to extend and further develop Menger’s theories of value, price, capital, and production. Included in his work of the two volume Capital and Interest is a devastating critique of Marx’s exploitation theory. Böhm-Bawerk explained that far from being exploited, the workers are actually accommodated, being paid in advance of the produced goods being sold.
In the second volume of Capital and Interest, Böhm-Bawerk explained the time consuming nature of production and how it relates to interest. Roundabout production methods are more productive but come at a cost of forgoing current consumption during the process of accumulating the capital. This became the basis for his time preference theory of interest as well as the foundations for the Austrian theory of the business cycle. Böhm-Bawerk also presented a clear example diminishing marginal utility and explained how real prices, as opposed to hypothetical equilibrium prices, are determined.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 17. Nathaniel Lyon, a notoriously harsh officer in the US army, is sent to St. Louis to ensure Missouri’s place in the Union. His policies have the effect of alienating much of the population of the city, which is predominantly Unionist, leading to the formation of a secessionist resistance group at Camp Jackson.
To celebrate the one year anniversary episode of Historical Controversies, host Chris Calton broadcast a live Question-and-Answer session in the Mises Studio on August 6, 2018.
Season 3, Episode 16. The Union defeat at Bull Run changed the perspective on the war for everybody in the North. The confidence in a decisive war that would be won with a single battle was shattered. Northern presses spread fabricated stories of rebel barbarity, and Union politicians look for people to blame. In the South, there were no celebrations for the costly victory. The aftermath of Bull Run produced the first signs of the harsh reality of the bloody war that was only beginning.
Chris Calton recounts the controversial history of the Civil War. This is the 16th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Season 3, Episode 15. With new Confederate troops arriving throughout the afternoon, McDowell takes one last stand at Chinn Ridge, only to have fresh Confederate arrivals from the Army of the Shenandoah drive back his last brigade. As the Army of the Potomac retreats, the Confederates pursue them, taking several prisoners, including one Republican Congressman who was among the civilian spectators who’d come expecting an easy Union victory.
Chris Calton recounts the controversial history of the Civil War. This is the 15th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
Jonathan Newman discusses the many contributions of the brilliant popularizer of sound economics, Henry Hazlitt (1894–1993). Best known for his book, Economics in One Lesson, Hazlitt stressed that a comprehensive view of of any event or policy is necessary to avoid missing longer term consequences.
Hazlitt was a voice of reason in the mainstream press. He demolished Keynesianism, socialism, government interventionism, price controls, government welfare, fiat money, expansionary monetary policy, and all kinds of economic errors and wrongheaded policies.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 14. Leading the stand on Henry Hill was Thomas Jackson, where he would earn his nickname “Stonewall.” To drive Jackson off the hill, McDowell orders a Napoleon-esque artillery charge, resulting in the bloodiest fighting of the day, as the newly-rifled weaponry renders the artillery charge ineffective, and both armies fight for control of the canons. The tide begins to turn for the Confederates.
In this episode, Guido Hülsmann, author of Mises’s biography The Last Knight of Liberalism, highlights the life and work of Ludwig von Mises (1881–1973), arguably the greatest economist of all time. Very early in his career, Mises was influenced by Carl Menger and Eugen von Böhm-Bawerk to turn away from the Historicist approach and to pursue studies in economic theory.
Among Mises's many contributions, Hülsmann discusses the socialist calculation debate, Mises’s battle against inflation, and the argument that economics is part of a larger science called Praxelogy. Mises revolutionized the theory of money, developing a full explanation of money prices and the consequences of money production.
Season 3, Episode 13. The morning hours of the First Battle of Bull Run concentrated on Matthews Hill, where the outflanked Confederates tried desperately to hold their ground, only to be driven back by the superior numbers of the Army of Northeastern Virginia. With Matthews Hill occupied by the Union by the afternoon, the battle looked won, but the Confederate forces were taking a new position on Henry Hill, where they would rally in the afternoon.
Chris Calton recounts the controversial history of the Civil War. This is the 13th episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
G.P. Manish highlights the life and work of Philip Wicksteed, a theologian and scholar from the late 19th and early 20th century. Though not a fan of the free market, Wicksteed made many contributions to Austrian price theory.
Wicksteed recognized that economics is a branch of praxeology, studying human action and choices necessitated by scarcity. Wicksteed placed man—specifically not an all-knowing man, as was in fashion at the time—at the center of economic analysis, siding with Menger in the Marginalist Revolution.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 12. Three days before the major battle, regiments from the Army of Northeastern Virginia, under the command of Irvin McDowell, and the Army of the Potomac, under Pierre Beauregard, face off on the southeastern point of the Manassas battle site, resulting in a minor Confederate victory. For most soldiers, this skirmish offered them the first glimpse at what real combat was like, having had no formal training to prepare them.
The life and work of the 19th century economist and statesman, Claude-Frédéric Bastiat (1801–1850), are highlighted by Guido Hülsmann. Beginning his work in economics to fight against tariffs and to argue for free trade, Bastiat published The Law in 1850. His influence spread quickly as it was translated into many languages all over Europe. In it he argued that the whole point of law is to protect the private property of every member of society.
Thanks to Bastiat, we have the brilliant illustration of the broken window fallacy from his essay “What Is Seen and What Is Not Seen.” To see destruction as a source of economic growth by increasing income to re-build, Bastiat argued, is to focus only what is immediately visible and missing the loss of pre-existing wealth.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 11. Leading up to the First Battle of Bull Run, Joseph E. Johnston takes command of the Army of the Shenandoah, and Robert Patterson counters with the Army of Pennsylvania. Patterson’s objective is to prevent Johnston from joining Pierre Beauregard at Manassas Junction. But, misled by poor intel, Patterson fails to attack Johnston’s smaller army, allowing Johnston to start moving his troops to reinforce Beauregard’s Army of the Potomac.
Richard Cantillon (1680–1734) was perhaps the most important and influential economist of all time, though as Mark Thornton explains, few people have ever heard of him. Murray Rothbard called him the founding father of modern economics.
Cantillon was the world’s first economic theorist, and in his treatise we find much of what we call economics today. He developed a scientific and positive methodology, performed thought experiments, and created the ceteris paribus assumption. Also in his work we find value theory, opportunity cost, price theory, and entrepreneurship theory. Mark Thornton describes in detail one of Cantillon’s greatest achievements: the specie flow mechanism.
Supplemental readings for Cantillon: English translation of Cantillon’s An Essay on Economic Theory
Chapter 12 of Rothbard’s An Austrian Perspetive on the History of Economic Thought, Volume I
Richard Cantillon: Economist and Entrepreneur by Antoin Murphy
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 10. Because of the close proximity to Washington DC and Richmond, Virginia, much of the Civil War would take place in eastern Virginia—between the two capitals. Virginia’s favorite son, Robert E. Lee, would be offered command of the Union army only days before resigning his U.S. army commission and accepting a position in the Confederate army. The war in Virginia began with a few minor skirmishes following the Union occupation of Alexandria and Arlington.
Lucas Engelhardt explains the many contributions of an early precursor to not only the Austrian school but to the whole of economic thought, Juan de Mariana of the 16th century Spanish scholastics. Mariana’s book On the King and the Royal Institution stressed the importance of remembering that kings are under a greater natural moral law and ought to be punished when they violate it. Mariana distinguished between a tyrant and a king by how the ruler viewed the property of his citizens.
Regarding the exchange value of money, Mariana understood the value was determined by the supply and demand of money so that debasement of the currency led to rising prices. Engelhardt also explains Mariana’s understanding of subjective valuation.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 9. After the Pratt Street Riot, President Lincoln and General Scott take more drastic measures to secure the state of Maryland for the Union. Placing most of the state under Martial Law, Lincoln suspends the writ of habeas corpus and allows his officers to arrest civilians. One such arrest led to Chief Justice Roger B. Taney to issue his statement on Lincoln’s suspension of the writ in the opinion Ex Parte Merryman.
Correction and Clarification: A listener who is a lecturer for the Maynooth University Department of Law sent me an article he wrote that offers relevant legal qualification for my admittedly unqualified explanation of Ex Parte Merrymen. Rather than further misrepresenting the legal particularities of the incident, I’ll refer to his paper:
Tillman, Seth Barrett, "Ex Parte Merryman: Myth, History, and Scholarship" (November 7, 2015). 224 Military Law Review 481 (2016). Available at SSRN.
Additionally, I referred to the arrest warrant Lincoln allegedly issued for Chief Justice Taney. One of the supporting documents for this claim has been called into question for its credibility, so the arrest warrant remains a matter of historical conjecture, and the position I took in the episode is more firm than the position I now hold on the matter.
Per Bylund explains the many contributions of Jean-Baptiste Say (1767–1832), a precursor to the Austrian school of economics. Today, Say is most well known for his “law of markets” which is now referred to simply as “Say’s Law.” Often misstated as “supply creates its own demand,” the law is that we produce and supply to the market in order that we may demand other goods in exchange. Production, therefore, is an indirect means to attain the goods and services we desire to meet our needs.
Say also made contributions in the theory of money, including how it emerges spontaneously, and why the commodity serving as a medium of exchange needs characteristics of durability, divisibility, and high value per unit, with the choice of commodity should be left to consumer preferences. Other highlights include his distinction between banks of deposit and banks of circulation.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 8. Only days after Lincoln’s call for 75,000 volunteers, troops began moving to Washington DC, having to pass through Baltimore—a city full of secessionists. Seeing the movement of troops from Pennsylvania and Massachusetts as nothing less than a foreign invasion, Baltimore citizens resisted the movement of the troops, leading to the first blood spilled in combat during the Civil War. Following the riots, the secessionists took over Baltimore, and the city effectively seceded—cutting itself off from the North and vowing that no more Union soldiers be allowed to pass through their city.
You may support this podcast financially at Mises.org/SupportHC.
Murray N. Rothbard (1926–1995) was one of the most important participants in Ludwig von Mises’s seminar, and undoubtedly the premiere Austrian economist of the twentieth century. Here, David Gordon discusses Rothbard’s contributions to economic theory and their broader historical context.
In his 1962 Man Economy and State, Rothbard built on Mises’s work and further developed the complete deductive science of economics called Praxeology. Gordon highlights several of Rothbard’s contributions including the impossibility of a monopoly price occurring on the free market, the implications of the calculation problem on the size of the firm, and the impracticalities of fractional reserve banking. Rothbard’s exposition of the Great Depression and his work in History of Economic Thought are also discussed.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 7. After Lincoln’s call for 75,000 volunteers to suppress the “Southern Rebellion,” the Upper South states reconsidered their decision to remain in the Union. As many people saw Lincoln’s call for troops as a usurpation of Executive authority, four more states — Virginia, Arkansas, North Carolina, and Tennessee — saw themselves as being forced to choose sides. With neutrality no longer an option, they joined the Confederacy.
Chris Calton recounts the controversial history of the Civil War. This is the seventh episode in the third season of Historical Controversies. You may support this podcast financially at Mises.org/SupportHC.
In this episode, Shawn Ritenour answers the question, “Who is Wilhelm Röpke?” A German economist, Röpke contributed to the theoretical structure and political vision of the Austrian school, warning of the dangers of political consolidation and underscoring the connection between culture and economic systems.
Röpke opposed collectivism and centralization of power in all of its forms. In his own words, he became a “fervent hater of war, of brutal and stupid national pride, of the greed for domination and of every collective outrage against ethics.” He warned against Keynesian full-employment policies and he developed a theory of repressed inflation. He argued that inflation was merely a Keynesian means of transferring wealth.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Season 3, Episode 6. The official beginning of the Civil War came on April 12th, when the Confederacy commenced their attack on Fort Sumter. In this episode, Chris Calton gives the immediate context of the battle, and tells the incredible story of one of the most significant episodes in the history of the United States.
Chris Calton recounts the controversial history of the Civil War. This is the sixth episode in the third season of Historical Controversies.
Jeff Deist discusses the major contributions of Carl Menger (1840–1921), founder of the Austrian school of economics. Sharing credit with Jevons and Walras, Menger initiated the Marginalist Revolution in economic thought with the 1871 publication of his book, Principles of Economics. Classical economists had been stumped by the “paradox of value,” but Menger solved it by focusing on the utility of the marginal unit, or what we call marginal utility.
Menger also developed the notion of imputation of value from the consumer good all the way back through the factors of production to the highest “order” of goods, the concept of voluntary exchange coming about because of unequal valuations of the goods being traded, and an explanation of the origin of money arising spontaneously as individuals accept a more saleable good in exchange even if it’s not the good they ultimately desire. These and several other major contributions are highlighted in the episode.
The Who Is? podcast is available on iTunes, Google Play, Stitcher, Soundcloud, and via RSS.
Capitalism doesn't have to be implemented in a "pure" form for its benefits to be realized. Meanwhile, socialists must make excuses for repeated failures. Original text: "Real Socialism" Has Indeed Been Tried — And It's Been a Disaster.
Season 3, Episode 5. With Lincoln in office and the Confederate government formally in place, the decision about how to handle Fort Sumter changed hands. Even before taking office, Lincoln had resolved to maintain the Fort, or retake it in the event that Buchanan had the fort evacuated. Once in office, the new president was faced with military leaders and a cabinet that were almost unanimously in favor of evacuating the fort. Lincoln decided to ignore their advice. In this episode, Chris Calton analyzes Lincoln’s momentous—and historically controversial—decision.
Chris Calton recounts the controversial history of the Civil War. This is the fifth episode in the third season of Historical Controversies.
Season 3, Episode 4. Once more Deep South states joined South Carolina in seceding from the Union, the South was faced with the need to quickly form their own national government. This meant the drafting of a constitution, the election of a president, the appointment of a legislature, and the establishment of an administrative framework. With war on the horizon, they had to act quickly, all while hostilities continued to heat up off the coast of Charleston.
Season 3, Episode 3. With disunion looming, conservative Republicans and southern unionists sought a compromise that would keep the Union together. John Crittenden proposed a compromise that was too conciliatory for many Republicans, but out of these compromise plans came a proposal for what nearly became the Thirteenth Amendment, which would have protected slavery in the states where it already existed. Abraham Lincoln endorsed the Amendment, and worked behind the scenes to find a compromise that could prevent disunion without rupturing the Republican Party.
Chris Calton recounts the controversial history of the Civil War. This is the third episode in the third season of Historical Controversies.
Season 3, Episode 2. For almost a month, South Carolina was the only state to have formally seceded from the Union. Off the coast of Charleston, the Union still had a garrison stationed in Sullivan Island’s Fort Moultrie, which became a matter of foreign policy between the United States and what was essentially the “nation” of South Carolina.
Season 3, Episode 1. In this episode, Chris Calton introduces the third season of Historical Controversies. He gives an overview of Ludwig von Mises’s views on the study of history and how it applies to the division between secession and war in 1861. He also tackles the question of whether or not the American Civil War was an actual “civil war”.
Chris Calton recounts the controversial history of the Civil War. This is the first episode in the third season of Historical Controversies.
Season 2, Episode 24. Throughout the 1850s, tensions over slavery continued to divide the Northern and Southern states. Finally, after the election of Abraham Lincoln — who didn’t win a single southern state — seven of the fifteen slave states broke away from the Union, hoping the other eight slave states would join them.
Chris Calton gives a revisionist look at the antebellum period leading up to the Civil War. This is the 24th and final episode in the second season of Historical Controversies.
Season 2, Episode 23. After John Brown’s raid on Harpers Ferry, the South was on edge. The Republican Party, in their eyes, was proof of the overwhelming presence of violent abolitionists in the North. The result was a North-South split in the Democrat Party, threats of secession if a Republican won, and a four-way presidential race.
Season 2, Episode 22. After losing several men, John Brown’s cause was hopeless. With Robert E. Lee and a company of United States marines showing up to end the attack, John Brown resolved that he would be better off as a martyr than a liberator. This episode is part 3 of 3 on John Brown’s raid on Harpers Ferry.
Season 2, Episode 21. After more than a year of planning, John Brown conducted his raid on Harpers Ferry. With only eighteen men, John Brown terrorized the Virginia town for three days, holding citizens as hostage inside the federal armory and waiting for slaves to flock to join his cause. This episode is part 2 of 3 on John Brown’s raid on Harpers Ferry.
It is a myth that "we don't make things in America anymore." Thanks to automation, we simply need fewer people to make more stuff. Text version: Manufacturing Jobs Are Overrated.
Season 2, Episode 20. After being radicalized in Kansas, John Brown wanted to start a war against slavery. His plan involved secret conspirators, a provisional government, a spy, and a traitor. This episode is part 1 of 3 on John Brown’s raid on Harpers Ferry.
Correction: I say that John Brown claimed to be nine years old at the time of his witnessing the beating of a slave child, but John Brown actually claimed to be twelve.
With welfare, the US outspends Canada and Australia, and is on a par with Switzerland. On government healthcare, the US outspends nearly everyone. Text version: The Myth of America's "Stingy" Welfare State.
Season 2, Episode 19. As William Walker struggles to maintain his control of Nicaragua, the Latin American Allies working with Cornelius Vanderbilt are finally able to dethrone the self-appointed “President of Nicaragua,” finally ending the American endeavor at conquering Nicaragua and the surrounding countries. This episode is Part 6 of 6 in the story of William Walker’s attempt at establishing his own Republic of Nicaragua.
Clarification: I claim that the Sharps rifle had a range of "twenty football fields". A listener pointed out that Wikipedia lists an effective firing range of only 500 yards, and a maximum range of 1,000 yards. In Tycoon’s War, Stephen Dando-Collins writes, "The Hondurans thought they were out of range, but the Sharps rifle had a range of two thousand yards." Neither Wikipedia nor Dando-Collins offer a citation for their range estimates, so I don’t know which one is correct, but I was referencing Dando-Collins for my claim.
Season 2, Episode 18. After thwarting a conspiracy with by his Nicaraguan allies who turned against him, William Walker sets up a new government and installs himself as the President. While embroiled in a war, he issues decrees that he hopes will encourage American volunteers, including opening the country to slavery. This episode is Part 5 of 6 in the story of William Walker’s attempt at establishing his own Republic of Nicaragua.
Ryan McMaken discusses how government agents and agencies are often not held accountable for their actions. Text version: Lack of Police Accountability Shows the "Social Contract" Isn't Working
Ryan McMaken discusses the rising homicide rate in Mexico, and addresses the argument that most illegal guns in Mexico are from the United States. Text version: Stop Blaming Mexican Violence on American Guns
Ryan McMaken discusses issues surrounding public school security measures in response to school shootings — and addresses some arguments made against increasing security. Text version: "Security Works at Disney — But Can't Work at a Public School?"
Season 2, Episode 17. William Walker and his American filibusters find themselves in the middle of an even greater conflict in Latin America as the countries of Costa Rica, Honduras, El Salvador, and Guatemala form an alliance with Walker’s opposition in Nicaragua to defeat him. This episode is Part 4 of 6 in the story of William Walker’s attempt at establishing his own Republic of Nicaragua.
Season 2, Episode 16. After ending the Nicaraguan civil war, William Walker sets up the provisional government for his new "Republic of Nicaragua". The peace is short-lived as the surrounding Latin American countries join forces—with financial support provided by Cornelius Vanderbilt—to remove William Walker from power. This episode is Part 3 of 6 in the story of William Walker’s attempt at establishing his own Republic of Nicaragua.
Season 2, Episode 15. Despite the bitter defeat in the First Battle of Rivas, William Walker and his small army of American filibusters successfully take control of the Democratico capital of Nicaragua, ending the Nicaraguan civil war. This episode is Part 2 of 6 of the story of William Walker’s attempt to establish his own Republic of Nicaragua.
Season 2, Episode 14. Looking for adventure and glory, William Walker leads a group of Americans into Nicaragua to join the country’s civil war, with the hope of “Americanizing” Latin America. This episode is the Part 1 of 6 of the story of William Walker’s attempt at establishing his own Republic of Nicaragua.
Correction: I refer to John C. Calhoun as the vice-president, but this was well after the time Calhoun was vice-president, and he was a US Senator during the majority of the period referenced. I believe this mistake has been removed from every version except for the YouTube version.
Season 2, Episode 13. After Narciso López’s first attempt at overthrowing Spanish rule in Cuba, he found more support from American southerners and returned for a second try. Although he would fail, the idea of expanding slavery into new territories was now in the minds of a number of southern expansionists.
Correction: I refer to William Crittenden as both the son and nephew of Attorney General John J. Crittenden at different points in the episode. He was the nephew.
Season 2, Episode 12. When Cuban slave owners started to worry that Spain was going to emancipate their slaves, Narciso López thought that the time was ripe to start a revolution to overthrow Spanish rule. American expansionists hoping for the annexation of Cuba volunteered to help López, and many of these expansionists wanted to see Cuba turned into a new slave state.
Season 2, Episode 11. After the Pottawatomie Massacre, Kansas continued to bleed through the summer of 1856. But as the country reacted to the 1856 election and the Dred Scott decision, the territory turned in favor of the Free State settlers and Kansas looked positioned to enter the country as a free state.
Season 2, Episode 10. What is now considered the worst Supreme Court ruling of all time, Dred Scott v. Sandford, was a decision that sought to end the controversy over slavery that had raged since the Compromise of 1850. By ruling that Congress had no legal power to prohibit slavery in the territories, Chief Justice Roger B. Taney poured gasoline on the fire that was dividing the nation.
Season 2, Episode 9. The passage of the Kansas-Nebraska act drove many northerners to form Anti-Nebraska coalitions that ultimately yielded the Republican Party. The election of 1856 did not yield a Republican presidential victory, but it did produce a party that, through compromise and political maneuvering, was able to emerge as the dominant new party to compete with the bitterly divided Democrats.
Season 2, Episode 8. In response to the Sack of Lawrence and the Caning of Charles Sumner, radical John Brown took matters into his own hands by murdering five pro-slavery settlers. With this, Brown ushered in the wave of violence Kansas would see in the summer of 1856.
Chris Calton gives a revisionist look at the antebellum period leading up to the Civil War. This is the eighth episode in the second season of Historical Controversies.
Season 2, Episode 7. After the fraudulent elections in the Kansas Territory, tensions erupted following the death of a Free State settler. The pro-slavery and anti-slavery settlers took up arms in the Wakarusa War and the Sack of Lawrence. In Washington, the Kansas controversy led to the brutal beating of an anti-slavery politician on the floor of the Senate.
Season 2, Episode 6. In this episode, Chris Calton talks about the Kansas-Nebraska Act, which only compounded the growing tensions over the slavery question. Following the act, Kansas settlers would face voter fraud, leading to the formation of two competing territorial governments. The fallout led to a small-scale civil war.
Season 2, Episode 5. In this episode, Chris Calton discusses some of the most significant outcomes of the Fugitive Slave Act, such as the publication of Uncle Tom’s Cabin — the most widely-read novel of the nineteenth century — and the attempted rescue of Anthony Burns.
Season 2, Episode 4. Chris Calton looks at one of the first episodes of armed resistance to the Fugitive Slave Acts. He explains how abolitionist William Parker, a free black man, changed America forever.
Season 2, Episode 3. In this episode, Chris Calton looks at the horrors of fugitive slave laws, the ways government incentivized the kidnapping of free blacks, and the rise of private defense groups to fight off slavers.
Season 2, Episode 2. Following the War with Mexico, the Gold Rush out west leads to the question of Californian statehood and the future of US expansion. In order to balance the tension between free and slave states, Henry Clay offers a compromise.
Season 2, Episode 1. In the first episode of the second season of Historical Controversies, Chris Calton gives a revisionist look at the antebellum period leading up to the Civil War.
Correction: I refer to the “destruction of the first party-system,” when I meant to say “second party-system.” In the episode on the Election of 1856, I give a correct account of the party-system changes.
Season 1, Episode 12. Following the death and torture of a DEA agent, the War on Drugs is taken to even greater heights. In the final episode of the Historical Controversies "War on Drugs" series, Chris Calton explains the legislation and police operations that led to America having the world's largest prison population.
Season 1, Episode 11. During the 1980s, the war on drugs became defined by cocaine and crack. In this episode, Chris Calton explains how the potent mix of politicians and fake news created the myth of the "crack baby", while the CIA became drug runners for the Contras.
Season 1, Episode 10. In spite of declining drug usage, the Reagan Administration placed renewed interest in the War on Drugs. Chris Calton explains how President Reagan eliminated restrictions that prevented the US military from enforcing domestic laws, while also reducing Constitutional safeguards that prevented police from using illegally obtained evidence. The consequences? A rise in drug potency—and danger.
Season 1, Episode 9. In this episode, Chris Calton explores US drug policy between the Nixon and Reagan Administrations. Calton explains how one Christmas party in the 70s undermined the first serious effort to roll back the War on Drugs.
Season 1, Episode 8. In Vietnam, many soldiers found narcotics to be a coping agent against the horrors of war. Narcotics also became an easy scapegoat for a government looking to obfuscate the results of its own actions. In this episode, Chris Calton explains how the US government escalated the War on Drugs at home, while serving as a drug runner in Southeast Asia.
Season 1, Episode 7. In this episode, Chris Calton explains how the Nixon Administration kicked off the modern War on Drugs, featuring no knock raids, fictional crime stats, and the expansion of the American police state.
Season 1, Episode 6. Learn why Chris Calton believes that "of all the drugs we've talked about on this podcast, the history of LSD may be the most difficult to believe."
Season 1, Episode 5. While the phrase "War on Drugs" was coined by the Nixon Administration, it was FDR who earned the first headlines for his "Narcotic War."
In this episode, Chris Calton details the first arrest made for marijuana in the US, the military's earliest attempts to control narcotics distribution, and how the FBI used drug laws to target black Jazz musicians.
Season 1, Episode 4. Chris Calton traces the history of cocaine, showing how it went from common medicine to the target of US military action.
Season 1, Episode 3. Chris Calton looks at the history of opium use around the world. The tale takes us to baby farms in Victorian England, 19th Century China, and even one of the most prominent examples of fake news from the Washington Post.
For further reading, see Opium: A History edited by Martin Booth (St. Martin's Griffin, 1996).
Season 1, Episode 2. How did Americans fall for the government's reefer madness? Chris Calton explains how junk science, overt racism, and myths of bloodthirsty soldiers all played a role in the criminalization of marijuana in America.
Season 1, Episode 1. In the first episode of Historical Controversies, Chris Calton looks at how American society originally viewed drugs such as marijuana, cocaine and heroine, and he details the origins of prohibition in America.
Longaberger can't sell its basket-shaped headquarters. As Peter Klein explains, resources in a modern economy are complex and specific — which is why we need free markets.
Peter Klein is the Mises Institute's Carl Menger Research Fellow.
Why is the aviation world all atwitter? Peter Klein explains what free market competition is and is not. Klein is the Mises Institute's Carl Menger Research Fellow.
More students need that "aha" moment, and your year-end gift to the Mises Institute can help deliver it. There are so many ways to help: a single gift, a convenient monthly credit-card charge, your company's matching gift, a donation of appreciated securities, or including the Mises Institute in your Will. Even gold and Bitcoin! Your generosity now will lead to future generations of freedom leaders. Donate now.
There are so many ways to help: a single gift, a convenient monthly credit-card charge, your company's matching gift, or a donation of appreciated securities. Even gold and Bitcoin! Your generosity now will lead to future generations of freedom leaders. Please donate today.
There are so many ways to help: a single gift, a convenient monthly credit-card charge, your company's matching gift, a donation of appreciated securities, or including the Mises Institute in your Will. Even gold and Bitcoin! Your generosity now will lead to future generations of freedom leaders. Please donate today.
In this Mises View, which is an excerpt from a recent seminar lecture, Mark Thornton explains how our standards of living improve through real economic growth. Thornton is a Senior Fellow at the Mises Institute.
In this Mises View, Mark Thornton explains some unintended consequences of bulk NSA spying. Thornton is a Senior Fellow at the Mises Institute.
Glenn Jacobs explains why understanding the Federal Reserve System is one of the most important tasks facing Americans. Jacobs is an American professional wrestler and actor, known by the ring name "Kane".
In this Mises View, Peter G. Klein explains how "Healthcare" would work, if it functioned in a free market.
Jeff Deist explains why it is important to say what we mean when discussing the economy and the state. Deist is the president of the Mises Institute.
Peter Klein discusses property rights, privilege, and free markets, in light of the U.S. Supreme Court's recent Burwell v. Hobby Lobby decision. Peter G. Klein is Carl Menger Research Fellow of the Mises Institute and professor of entrepreneurship at Baylor University's Hankamer School of Business.
Jeff Deist discusses how the Fed creates a perilous landscape in which there is no honest pricing—everything has been distorted—even at the consumer level. Deist is the president of the Mises Institute.
Peter Klein addresses the frequent criticism that private investors and entrepreneurs have too short of a time horizon. Klein is the Mises Institute's Executive Director and Carl Menger Research Fellow.
Mark Thornton presents a one-minute primer on the "Skyscraper Curse". Thornton is a Senior Fellow at the Mises Institute.
Peter Klein discusses who should make the decisions to best allocate scarce resources and time. Klein is the Mises Institute's Executive Director and Carl Menger Research Fellow.
Mark Thornton explains how silver money keeps inflation in check. Thornton is a Senior Fellow at the Mises Institute.
Mark Thornton discusses Martin Wolf's recent claim that "cautious savers no longer serve a useful economic purpose". Thornton is a Senior Fellow at the Mises Institute.
In this excerpt from his recent "Liberty on the Rocks" interview with Justin Longo, Peter Klein explains the importance of entrepreneurship.
Peter Klein discusses the contributions of economist F. A. Hayek. Klein is the Mises Institute's Executive Director and Carl Menger Research Fellow.
Mark Thornton explains why the government's latest unemployment numbers are a sham, and the labor market is nowhere near recovered. Thornton is a Senior Fellow at the Mises Institute.
Jeff Deist explains some of the compliance burdens of the IRS's latest guidelines for cryptocurrency and other electronic media of exchange. Deist is the president of the Mises Institute.
Mark Thornton critiques Thomas Piketty's recent bestseller, and explains why capitalism is not the problem, nor are taxation and redistribution of wealth the solutions.
Joe Salerno sits down with Jeff Deist to discuss how Austrian Economics frames the issue of income inequality. Salerno is Academic Vice President at the Mises Institute.
Joe Salerno dismantles the Council of Economic Advisers' latest report touting the success of the 2009 stimulus, five years later. Dr. Salerno is the Mises Institute's Academic Vice President.
Joe Salerno discusses the economics of Price Gouging. Dr. Salerno is the Mises Institute's Academic Vice President.
Mark Thornton explains what the latest government employment report really tells us. Thornton is a Senior Fellow at the Mises Institute.