Individual Interview: Recent Episodes
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On November 12, 2024, Ryan McMaken appeared on World Affairs In Context with Lena Petrova to discuss whether the Trump administration would seek Fed Chair Jerome Powell's resignation, how the Fed has enabled government spending on programs that do not benefit the American people, its role as a servant of the banker class, and whether it should be abolished.
The original episode is available on YouTube.
On October 30, 2024, Mark Thornton was interviewed by Greg Penglis on The Action Radio Show. They discuss the economy, the presidential election, and our current calamitous conditions.
The original episode is available on Action Radio.
On October 30, 2024, Mark Thornton was interviewed by guest host Joseph Patterson on The Alan Nathan Show. Is a vote for Trump a vote for fascism?
The original episode is available on the Main Street Radio Network.
On October 30, 2024, Mark Thornton appeared on The Lakey Effect to discuss fascism and US politics.
The original episode is available on Newstalk AM 600 KCOL.
On October 23, 2024, Jonathan Newman appeared on Kerry Lutz's Financial Survival Network to discuss the Mises Institute's commitment to promoting Austrian economics and individual liberty, the historical role of government in monetary control, and the concept of competing currencies as alternatives to government-managed money.
The original episode is available at FinancialSurvivalNetwork.com.
On October 29, 2024, Mark Thornton appeared on The Schilling Show to discuss Ludwig von Mises, fascism, and the current state of US politics.
The original episode is available on News Radio WINA 98.9 FM and 1070 AM at https://cvillerightnow.com/podcasts/categories/the-schilling-show/
On October 28, 2024, Mark Thornton appeared on The Richard Syrett Show to discuss economics and the state of US politics.
The original episode is available on TheRichardSyrettShow.com.
On August 17, 2024, Wanjiru Njoya appeared on The Drew Allen Show to discuss why Americans are unable to link their economic troubles to the economic policies that caused them.
The original episode is available on Patriot TV: https://drewallen.substack.com/p/240-harriswalz-want-to-make-america
On August 23, 2024, Wanjiru Njoya appeared on Politics and Profits with Bill Amato to discuss a message which has been incorrectly demonized by some in today’s culture.
The original episode is available on Your America TV at https://youramericatv.com/2024/08/how-capitalism-defeats-racism
On October 21, 2024, Wanjiru Njoya appeared on The Pelle Neroth Taylor Show to discuss capitalism, racism, and race Marxism.
The original episode is available on TNT News at https://tnt.news/shows/pelle-neroth-taylor
On October 18, 2024, Jonathan Newman appeared on The Lakey Effect with Jimmy Lakey to discuss whether or not voters should trust Trump on the economy. Or, should voters trust the experts who say that Donald Trump is going to ruin the economy?
The original episode is available at The Lakey Effect (Newstalk 600 KCOL) on iHeartRadio.com.
On October 17, 2024, Jonathan Newman appeared on Wake-Up Call with Bill Lundun to discuss Austrian economics, Donald Trump, and mainstream economists.
The original episode is available at News Radio 1120 KPNW.
Bill Lundun (BL): News Radio 1120 KPNW, thanks for being with us this morning. We have like two different things that we keep hearing when it comes to this particular election period. And it is that Americans overall trust Trump more on the economy. And that's we're talking about voters, whereas the so-called experts don't. Who to believe to discuss it this morning? It is Dr. Jonathan Newman. He is a fellow at the Mises Institute, which is a nonprofit that promotes the teaching and research in the Austrian School of Economics. And it's in the tradition of Ludwig von Mises and Murray Rothbard. And welcome to the show. We appreciate you being here with us. Thank you, Jonathan.
Jonathan Newman (JN): Hey, thanks for having me.
BL: Yeah. Talk a little bit about Ludwig von Mises and kind of what he stood for in his branch of, if you will, economic research.
JN: Sure, Ludwig von Mises is sort of the godfather of Austrian economics, which is a school of economic thought that's very free market. We don't do a lot of mathematical modeling. We consider the individual as having subjective value, and through people's subjective values, they interact in markets, creating market prices, and those market prices are fundamental for developing an economy, for understanding how resources should be allocated. We should be using the profit and loss test to determine how to most efficiently produce things. And so many of the conclusions of the Austrian school are very free market. And of course, Ludwig von Mises was one of the you know the main figures in Austrian economics. He started his career, obviously in Austria, that's why the name of the school's called Austrian economics. But he had to flee the Nazis. So he was he was under pressure from the Nazis, because he was saying things that were critical of government. Obviously he had to flee that area, and he came over to the United States in New York. And had a very famous seminar where many American economists and others were listening to him, and he sort of sparked the Austrian movement in the United States. And so it's grown and flourished since then, and we have the Mises Institute in Auburn, Alabama, that champions his ideas, champions Austrian economics, and is trying to educate everybody about the best way to think about the economy, the best way to analyze policy proposals from politicians and bureaucrats, and promote free markets along the way.
BL: If he were to see the markets today and the way that things are, if you will, manipulated in a number of ways, the way the government policy attempts to manipulate things, what would be his takeaway, do you think?
JN: I think Mises would be most disturbed by the fiat money system that we have in place today. So in the United States, we have the Federal Reserve, which is our central bank. They are the ones who are controlling the supply of money. They're manipulating interest rates. And Mises would pin the blame on this monetary policy by the Federal Reserve for creating booms and busts, for creating these artificial booms where employment goes up, stock prices go up, everything seems to be going well, and then all of a sudden it crashes. And so one of the crown jewels of Austrian economics is Austrian business cycle theory, which explains how it's actually government manipulation in credit markets that causes these booms and busts, that causes the business cycle. So he would definitely not like that, but he also, just in terms of the general effects of inflation, he would say that the fact that savings rates are way down, nobody's really saving for the future, is because people's money is losing value. And so it doesn't really make any sense to save money for retirement if that money is going to be losing its purchasing power over time. And so that forces people to save for retirement, for example, by investing in the volatile stock markets. So he would obviously, he would disagree with the monetary policy, he would disagree with the size and scope of government as it exists today, and he would champion a more free market approach, where markets are the ones that are and regulating themselves, where consumers are the ones that are deciding which companies are producing things that we like, and use the profit and loss test of the market to rationally and efficiently allocate factors of production, so that we have a growing progressing economy.
BL: Alright. To the very basic question. In polling, there's been a lot of polling in regards to this, and that Americans actually trust Trump on the economy, and yet we have these experts, call them so-called or call them actual experts, that don't and the question is so who to believe
JN: Well, I definitely wouldn't put much faith in the so-called experts. The so-called experts have been wrong about so many things in the past. And so I think that the reason why people think that Trump and the Republican Party represents more of a... would represent a turn towards a stronger economy is because they're really the only ones that are talking about decreasing, or at least limiting, the increases in the size and scope of government. So if you look at the rhetoric and the proposals from Democrats, there's this problem in the United States and we can solve it with more government intervention and more government spending. There's this other problem that we can solve with more government intervention and more government spending. And yet only on the Trump side, you have at least some rhetoric about how we need more efficiency in government, we need to decrease the size and scope of government. And so people realize that a lot of the problems that the Democrats are pointing out are ones that are caused or exacerbated by government spending and government intervention. And so it makes sense that Americans are sort of doubtful that the Democrats have any sort of a good plan regarding a stronger economy.
BL: What about the criticism that has been made because, you know, Trump has once again talked about tariffs, in particular regarding China, and a lot of the, as we've talked about them, the experts are like, "Oh my God, it's going to do these horrible things to the economy. It's going to cause prices to spike again." What's your take on that?
JN: I think it's a valid criticism. I think it's good to be distrustful of tariffs because, I mean, in the end a tariff is a tax. And so I'm not going to be the one that says, you know, everything that Trump has ever proposed is a free market and it's going to be good for the economy. But, of course, what Trump is seeing and what the people in the Republican party are seeing is, you know, hollowed out manufacturing in the United States. They see, you know, loss of jobs. So they see these sorts of the things happening, and so they think the tariffs would be a good way to address it. I think that economic theory going all the way back to the 1700s, I mean, you can go back to Richard Cantillon, to Adam Smith, to those guys. And I think that they very compellingly showed that tariffs and protectionism is not a good way to address those sorts of problems. But, in terms of the grand scheme of things, if we're arguing over should we have, you know, this tariff rate versus that marginally different tariff rate, then that's sort of a side issue. Really, the main thing that I think people are focused on is inflation. It's all of the regulations that are imposed on the economy by the government. It's those sorts of things. So, yes, I do have some quibbles with the with the tariff idea, but I still think that it makes sense that Americans are trusting the Trump side and really the distrust of the establishment and the distrust of the so-called experts.
BL: Right. You know, one of the things that you hear from the public individuals is, you know, "I just want to see prices come down," and you look at it and I don't remember any time that prices, maybe a little bit here and there, where once you have a period of inflation, with maybe the exception of gas prices, where prices fall and come down. Unless we're talking about a major case of deflation, which is a whole other you know a whole a whole other can of worms that can be actually worse than inflation. Talk a little bit about that whole idea of prices coming down.
JN: I think people are worried about deflation for the wrong reasons. And I think the reason that they're worried about is because they associate it with what happened during the Great Depression, where we had a huge increase in unemployment, where output shrank, and we also had price deflation happening at the same time. And so people sort of associate those things. They think deflation is associated with recessions. But it's worth pointing out that there are quite a few things that could result in deflation. And one of the healthiest periods of, you know, economic growth in the United States happened when we were under a gold standard, where output was increasing but the money supply was not increasing by the same amount. And so we had, you know, steady deflation. And we didn't have – it was a long-term steady deflation that promoted savings that allowed – made it easy – for businesses and for consumers and households to make decisions over the long term. It made it easy for people to save with money as opposed to investing in the stock market. And so if your money is gaining value over time, then you can imagine how that would totally restructure the way that the whole economy is allocating resources. So, if money is gaining value over time, then people have an incentive to save. If people are saving, then we have more capital accumulation. If we have more capital accumulation, then our economy can grow in a sustainable sort of way as opposed to the booms and busts that we have now. So, I think the fear of deflation, or deflation-phobia as some people call it, is just based on that one episode in economic history in the United States where I think we should be more comfortable with the idea of our money gaining purchasing power over time, and it could be a very healthy sort of thing.
BL: How is that going to happen though? Because you mentioned and you started off by qualifying it with, "While we were under the gold standard." It's a completely different valuation of the way that the dollar is factored right now. Can that could that happen again on a federal reserve system like we have?
JN: Oh, absolutely not. Going back to that sort of system of sound money, and I'm not saying that it has to be a gold standard, but going back to a system where, you know, government is not intervening in money and banking, would require a huge shift. It would require a shift in people's thinking and the way that they vote. It would have to require, you know, ending the Federal Reserve, or at least severely limiting its power. And so you're absolutely right that, you know, going back to a system like that, it would require a big change. But the really the first thing that people think about when somebody proposes ending the Federal Reserve or auditing the Federal Reserve or limiting its power is, they think, "Well, what about deflation?" or "What about booms and busts?" And really what Austrian economists are saying is that, if we did get rid of the Fed, then we would actually have a smoother economic growth. We would have stable deflation where people's money is growing in purchasing power. We wouldn't have all the booms and busts, because Austrian economists point out that it's manipulated interest rates that result in those artificial booms and the painful busts that follow. So, you're absolutely right. It would require a big shift. If people are interested in how we would actually reach that stage where we could go back to sound money as opposed to political money, fiat money, then I recommend that listeners check out the writings by Murray Rothbard. If they go to Mises.org/MyMoney, then they'll receive a free reading from Rothbard, a PDF, where they can get it mailed to them. And so there's great plans offered by Rothbard, a great Austrian economist, that would explain how we get there.
BL: All right. Appreciate you joining us on the Wake Up Call. Dr. Jonathan Newman here on KPNW. Thanks again.
JN: Thanks for having me.
On October 21, 2024, Jonathan Newman appeared on WILKOW! with Andrew Wilkow to discuss Donald Trump, mainstream economists, and the state of US economy.
The original episode is available at SalemNewsChannel.com.
Wanjiru Njoya tells Charles Malet (UKColumn.org) how she sees a truly free market, devoid of any government intervention, as being the route by which all societies are improved.
For more information visit https://www.ukcolumn.org/video/governments-make-everything-worse-with-wanjiru-njoya-0
On a bus from Boston to New York, a reporter learns a lot from voters. On NBC Evening News for Monday, November 4, 1974, Tom Pettit talks with voters in the northeast about the upcoming elections.
"I voted a long time ago, but I learned later on that it was useless."
Rothbard responded in The Libertarian Forum in November 1974.On the night before election, and again on the Today show on election morn. I appeared on nationwide NBC-TV, denouncing politics and declaring that I never vote. Despite the fact that the interview was a pure fluke, taken while minding my own business on a New Haven bus, that it was severely edited and truncated on TV to fit the anti-politics theme of mass sentiment as picked up by the reporters, I was immediately besieged by phone calls from libertarians throughout the country. Some LP people attacked me for not mentioning Tuccille and the LP, while the anti-politics forces hailed me for — at last — denouncing all politics and voting. Since I have been accused of inconsistency in being one of the few libertarians who favor both the Libertarian Party and Sy Leon's League of Non-Voters, perhaps I can seize this occasion to make my views on the politics and voting question — I hope — crystal clear:
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I am indeed opposed to the State and therefore to politics. If the State-and-politics disappeared tomorrow no one would be happier than myself.
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The fewer people that vote in any election, therefore, the better. The fewer the votes, the greater the evident anti-politics sentiment throughout the country, and the greater the implicit repudiation of the entire political system. The fact that only 38% of the eligible voters cast their ballots in the 1974 election — the lowest voting percentage in three decades — is one of the most heartening results of the election. It is no coincidence that all politicians from President Ford on down begged the electorate to endorse the American Way by voting, voting for either party. ("We don't care who you vote for, but for God's sake VOTE!") Think of how glorious it would be if the next President were elected by a popular vote of five to four for his opponent. The smaller the vote, the more ridiculous the claim for a "popular mandate" for the victor.
Unfortunately, politicians tend to interpret low voting as "apathy" instead of hostility to the political system (although that concept is now changing, pace the findings of NBC-TV that throughout the country people are disgusted with all politicians.) Hence the importance of the League of Non-Voters' campaign to transform the alleged "apathy" of non-voters into an explicit repudiation of the political system.
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I don't vote, and haven't done so in two decades, not because I believe voting itself to be immoral (as do the anti-LP libertarians), but because of the reasons in point No. 2, and because one person's vote is of marginal importance, approaching zero. And for another and for me overriding reason: that the roll for compulsory jury slavery is taken from the voting lists. Compulsory jury duty differs only in degree, not in kind, from the slavery of conscription.
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However, and unfortunately, neither politics nor voting are going to disappear overnight. Confronted with the fact that tens of millions of Americans are going to continue voting, what party should we support? Whom should we hope wins the elections? Does it make any difference who wins? I contend that it usually makes a great deal of difference. Jefferson was better than Hamilton, Jackson than Adams, Gladstone than Disraeli, Judge Parker than Teddy Roosevelt, etc. A fortiori, the Libertarian Party is infinitely better than any of the other contenders, for many important reasons: as an educational vehicle of unequalled force in influencing the public and the media; as a method of putting pressure on the other parties and on the government to curb their statist policies; and as an eventual conduit for rolling back the State. Of course, there are risks in the LP becoming corrupted if it becomes a major political force, but there are risks in any course of action or inaction. Life itself is a risk. The gripers who sit on the sidelines and carp about the LP have a responsibility, it seems to me, to come up with a course of action that will be at least as, if not more, effective than the LP in spreading the ideas and the influence of libertarianism. So far, the non-party ad hoc organizations have had only a minimal impact. The more impact that any tactical roads may have — be they the LP or any form of non-party organization — the better. This, the area of tactics, is one of the few cases where the pragmatic attitude is the proper one. Let a hundred libertarian flowers bloom. As far as I know, no one in the LP spends any time criticizing the various non-party individuals or organizations; why do the latter expend so much of their time criticizing the LP? Is it because the LP has been so successful?
Lew Rockwell appears on NOW with Bill Moyers. Lew discusses Bush, Iraq, and the US economy. Originally broadcast on March 7, 2003.
"We have to educate ourselves, and educate others about our own history, our real history, about what's actually going on these days, about real economics, and the principles of liberty. And I think that is: if we have any salvation, it's through that, and certainly in secular terms."
MOYERS: Welcome to NOW. If you're thinking about money, bills, the job and your pension and not just the war you belong to the largest party in America, the party of angst. The economy's sputtering, the DOW is down, oil prices and health costs are soaring. And over eight million people are unemployed.
The other day the Wall Street Journal ran a page one story on a worker who had sent out over 700 resumes without landing a job. What's clear is that all the talk about tax breaks stimulating the economy is only stimulating fear about deficits. Even the White House now estimates the budget deficit will hit a record $304 billion this year. And that's without figuring in a war, whose cost the government refuses to reveal.
With me now to talk about all this is Lew Rockwell. Mr. Rockwell is a libertarian free market conservative and President of the Ludwig von Mises Institute. That's the organization he founded to advocate and promote the philosophy that the solution to our fiscal and social woes begins with smaller government.
Mr. Rockwell has been a congressional aid, a book editor, a magazine editor, and is now the editor of his own web site. Welcome to NOW.
ROCKWELL: Bill, great to be with you.
MOYERS: Business pundits and the government have been saying for 20 months that this is not really a recession, it's just kind of stumbling a bit. (LAUGHTER) The economy is stumbling a bit. Is it a recession?
ROCKWELL: You know, I remember back when Alfred Kahn, very funny economist, who worked for Jimmy Carter. And he referred to depression and was taken to the woodshed by Carter over this. And when he talked to the reporters afterwards he said, "I'm never gonna say that word again. I'm only gonna say the word banana. But, you know, we're in a banana." (LAUGHTER) So…
MOYERS: So are we in a banana?
ROCKWELL: Sure, we're in a banana.
MOYERS: We're in a bunch of bananas.
ROCKWELL: We're in very serious recession. And it's true…
MOYERS: And what does that mean?
ROCKWELL: Well, it means that the economy is shrinking. If we look at the government's own statistics, and you have to subtract the increase in government spending, which is bad for the economy, not good.
We're getting poorer as an economy. That's what a recession means. For us regular people it means we're getting poorer. And we're gonna continue to get poorer. And I think we can all feel it. Even aside from the statistics we all feel the fear for retirements and our savings. We're worried about our jobs. We see businesses closing.
We're getting poorer. And if the Bush administration set out to do everything possible to make the recession longer and deeper and maybe turn it into a depression they'd be doing exactly what they're doing now.
MOYERS: What's keeping you awake at night?
ROCKWELL: Well, first of all, you mentioned the $304 billion deficit figure, but that's actually a fib. Because what we always need to pay attention to is how much the national debt is going up by, which is always much more significant than the official deficit. Because the government spends money so-called off budget. And it doesn't count in the official budget deficit.
So if we look at the actual deficit that's going on right now it's over $400 billion. That is the difference between income and outgo for the federal government. And again that's without the war and the economy is heading downhill. So I think it's very, very worrisome. Who knows what the deficit could actually be in the next fiscal year, $600 billion, $700 billion.
MOYERS: Yeah, one of my associates just handed me this story from the New York Times. The budget President Bush submitted last month should have come with a warning they're back, deficits are reemerging as a major problem. Goldman Sachs recently raised its estimate of the federal budget deficit to $375 billion. You're saying it could be more than that.
ROCKWELL: Oh sure. It could be — it's already a lot more than that. And these figures are all available at the treasury, although they don't have a nice chart to make it easy on you. But these figures are all available. It's already more than $400 billion, the actual deficit.
I mean, just take the example of foreign aid that Bush has promised to Turkey if they come along with him on the war. That money would come out of the exchange stabilization fund as a loan. But that would not count in the official budget deficit even though it's a debt of the federal government. So it's again the national — the increase in the national debt and it's very, very worrisome.
MOYERS: What does this mean to ordinary people? I mean, the words like deficits and recession come and go among economists and newspaper headline writers. But what does it mean to ordinary working people?
ROCKWELL: Well, it means trouble. Because, I mean, sometimes Republicans and the Democrats for that matter like to pretend that there's some way to fund the government other than the two ways of taxation and inflation. Those are the only two ways they can postpone it through borrowing.
But all those have negative economic effects. And when we have deficits this size first of all it means that everybody's worried that these are gonna be monetized.
MOYERS: Which means?
ROCKWELL: That the federal reserve will in effect print money to pay them. And that has all kinds of bad effects besides rising prices. It's what brings on the business cycle for example. That's what the fed did in the 1990s, the reason that we now are in the longest deepest recession since the Cold War.
MOYERS: You worked in Washington four years as a congressional aid. Do you think everyone in Washington is in denial over the shipwreck that's coming on this issue of deficits? Or is there a conspiracy to look the other way when the emperor passes with no clothes on?
ROCKWELL: Well, there's both of that. But I also think the fact that, you know, these are not necessarily bad for the government. It's bad for the people. But I think the government in these things has a very different interest. Usually in fact the opposite of what the people's interest is.
So however they can expand government spending, and they switch between the various methods of borrowing, taxing and inflating, depending on the political climate, they are benefited. They in the interest groups who receive the dough.
MOYERS: Is this however, what free market libertarian conservatives have been wanting to put the government so much in debt that it can't possibly raise more money to support more government spending? I mean, the conservative activist Grover Norquist was here where you're sitting not long ago. And he says he wants to shrink the government until it can be drowned in the bathtub. And the best way to do that is just to strangle the source of money.
ROCKWELL: You know, I think this is a Republican fib as great a guy as Grover Norquist is. Because of course the government keeps growing. President Bush has expanded the federal budget by 30 percent. I mean, this is the biggest spending administration since Mr. Johnson. And it may be…
MOYERS: You wrote somewhere that Lyndon Johnson and George W. Bush have a lot in common, they like to spend money.
ROCKWELL: Yeah, they do.
If we look at the facts and not the rhetoric, Republicans expand the government much more than Democrats do. If you look at the Reagan administration, the Nixon administration, both Bush administrations, there all big government operation. The smallest government guy in recent times, Jimmy Carter. Even Clinton was a smaller government guy than George Bush.
MOYERS: You advocate low taxes. Do you support Bush's tax cut?
ROCKWELL: Well, you know, I'm all for tax cuts. I think taxes, I mean, the shorthand for taxes is wealth destruction. So certainly the fewer taxes we have the better. On the other hand the government spending has to be paid for somehow. So if he's expanding the government at the rate that he is, at a huge rate, to talk about tax cuts it seems to me is, you know, is irresponsible. Probably the most destructive way to fund the federal government is through inflation through the federal reserve.
So actually I hate to say taxes are better than that, but yes taxes are less economically destructive than inflation. So for him to be — I think it's highly irresponsible. I think it's a trick to fool people. After all his previous so-`called tax cuts have yet to come into effect. They don't even come into effect until next year. And my prediction is they won't come into effect. They'll be some sort of, you know, war emergency and they won't be able to bring them into effect.
MOYERS: There is some talk in Washington that the huge expenditures on a war against Iraq would actually boost the economy by circulating all that spending on defense. What about that?
ROCKWELL: Well, I mean, I know that's the claim. The French economist in the nineteenth century Frederic Bastiat talked about the broken window fallacy. A boy tosses a rock through a baker's window and everybody's very sad for the poor baker. And then the guy in the — maybe an economist in the crowd say, oh, don't worry, you know, this is gonna be great. It's gonna be money for the glazier, then he'll buy a new suit and everything, you know, will multiply and we'll be all better off.
But that, you know, first of all leaving aside property rights and morality questions it ignores what that money would have been spent on otherwise. So to take vast sums out of the private productive economy and spend it on things that are anti-productive, weapons of mass destruction and so forth, that have no economic purpose far from being a help it's a disaster.
I mean, you can think of the U.S. military as that little boy with the rock.
MOYERS: But didn't World War II actually pull the country out of the depression? Didn't the spending on that vast military effort stimulate the economy, give people jobs and enable us to get over the depression in a way that FDR's New Deal programs never did?
ROCKWELL: Well, sure, the New Deal didn't work. And really we didn't get out of the depression until probably 1948 or 1949. What the war did do was help the unemployment statistics by killing a lot of the unemployed. I mean, it did do that.
In fact he, you know, he drafted 20 percent of the workforce at one point or another into the military. So when you had — when you started out with a 12 percent unemployment rate, yes, I mean there was much less unemployment. But the vast expenditures on non-productive goods, the erection of a command to control economy, not that dissimilar from the Soviet economy. Price and wage controls. No, that was not economically good. It was economically bad.
MOYERS: What do you think this war will do to the economy?
ROCKWELL: Well, it's very bad for the economy. It's a vast transfer of wealth from the productive economy into the government sector into what after all is a socialist enterprise, the U.S. military. And therefore economically disastrous.
So you have all kinds of money taken out of productive private savings and investment to build bombs and missiles that it's economically dangerous. And then it of course like every single war in our history it empowers the government to suppress dissent, to abolish civil liberties, to grow. That's one of the reasons governments love a war. Because it does enable them to grow and to brand anybody who disagrees with them as unpatriotic.
MOYERS: But the fact that it's a socialist institution, the military, doesn't make it a disposable institution. I mean, you wouldn't want to live in a country that didn't have a strong military to defend you would you?
ROCKWELL: No. Of course you have to have soldiers, and you have to — you want defense absolutely. Whether this particular arrangement in this vast centralized, you know, the biggest — of course the biggest military empire in the history of the world, the U.S. I mean, far surpassing, I mean, our budget is bigger than the next 27 countries.
MOYERS: Do you feel safer because of that?
ROCKWELL: No, I don't feel safe at all. I mean, none of it is spent on defense, for example. It's all spent on offense. And there's very little defense. It's all, you know, involved in running other people's lives, running other people's countries.
MOYERS: You opposed the war in Vietnam.
ROCKWELL: Yes.
MOYERS: And you oppose this war.
ROCKWELL: Well, I oppose any war that's not absolutely necessary, and absolutely moral and defensive. So that, for example, killing — we don't know how many — three, four thousand people in Afghanistan to go after the Taliban, who are after all, the descendents of the exact same guys that Ronald Reagan was funding during as Mujaheddin, when they went up against the Soviet Union, yeah. No, I don't think that's good.
And I don't think there's, you know, any proof that they had anything to do with 9/11. I think it was just striking out. And I think it's very unfortunate. I think it's just killing.
MOYERS: This morning I heard a chilling report on National Public Radio about how Saddam Hussein tortures people. I mean, he's clearly a demonic man himself. Couldn't you concede that Bush really does believe he's on a moral mission to rid the world of a monster?
ROCKWELL: I'm sure Saddam Hussein is not a good guy, after all he's a politician. But it is the most liberal regime in the Arab world in many senses. You can get a drink in Baghdad. Unlike in Saudi Arabia. Women don't have to wear any particular kind of clothing. Christianity is tolerated.
There are high officials of the Iraqi government who are Christians, unlike in any Arab government that we're pals with. So you can — there was a very interesting story on Morning Edition the other day about a gun…
MOYERS: NPR, right?
ROCKWELL: Yeah, a gun shop in Baghdad. And how there was a run on everybody buying guns. And the fact that you can buy a gun in downtown Baghdad, which of course you can't do in Manhattan is, you know, also an unusual peek into this regime. I mean, we only know what the government is telling us.
MOYERS: But doesn't Saddam Hussein who is obviously himself a megalomaniac, doesn't a Saddam Hussein armed with biological and chemical weapons potentially nuclear weapons, doesn't that scare the hell out of you?
ROCKWELL: Yeah. I mean, I don't like the fact that George Bush has all those things too. And of course we know there's only one government in the world that's ever dropped atomic bombs on civilians and it's not Iraq. So, you know, there are a lot of governments that are run by bad guys. I mean, look at the people who are in Rwanda and killed millions of people by machete. I mean, hard to conceive of anything much worse than that.
So, yes, I don't like the idea of any government like this having those kinds of weapons. But, you know, is it really the job of the U.S. government to run the world? I mean, a lot of my…
MOYERS: Well, what would a libertarian actually say about what the President should do about Saddam Hussein?
ROCKWELL: I think read a book. Think about helping the American people. Think about taking the burden off us. Think about what he could do to lessen this recession that Mr. Greenspan has brought on us. That is by cutting government, not expanding government. Cutting the military, cutting the welfare budget. Cutting the regulations. He's of course vastly increased regulations on business.
MOYERS: But, do you really believe there's nothing the government can do to improve our lot but to get out of the way?
ROCKWELL: Yeah, that's about it. Certainly, that's true in the economy. I mean, now that we're in this recession that's all it could do. And certainly, that's what Mr. Bush ought to be doing. That is, cutting spending, cutting taxes, cutting regulations, get the heck out of the way.
MOYERS: But what about such things as unemployment benefits, all those eight million people, that guy who wrote the 700 letters and can't find a job? I mean, don't we have some — doesn't the moral imperative in all of us, collectively, want to try to help people like that while they're in distress?
ROCKWELL: You know, this illustrates the basic fallacy at the heart of the welfare state. That it seeks to — that it subsidizes what it seeks to prevent, or pretends to cure. So, it subsidizes unemployment.
I remember when Mr. Bush, Sr., when he was running for re-election, and there was concerns about the unemployment rate, and so he passed a vast expansion of unemployment benefits, and gee, just amazingly enough, the unemployment rate went way up when people could get more money for a longer period of time staying unemployed.
So, if the government is subsidizing unemployment, no I do not think that's a good thing. I think it's very socially destructive.
MOYERS: Well, I obviously, as you know, disagree with so much of what you're saying, although I learn from people with whom I disagree more than I learn from people with whom I agree. I just cannot imagine what kind of society it would be if it is every man for himself.
ROCKWELL: Well, but it's not. I mean, that's, you know, that's the what the market brings about, social cooperation. We work together in company.
MOYERS: Didn't bring it to the 30s…
ROCKWELL: The 30s was of course a terrible time, brought about as a result of Federal Reserve inflations during the 1920's, and then the rotten Hoover Administration, which actually was the first part of the New Deal. So, we had again, exactly like in the 90s, we had a boom during the 20's, artificially generated by the Federal Reserve.
And yes, it caused immense human suffering. And again, the Roosevelt Administration, and the Hoover Administration, did everything wrong. It's almost — it was not their intention — but it was almost as if they set out to lengthen and prolong the Depression. And again, that we have Herbert Hoover Bush doing exactly the same thing now.
MOYERS: You are consistently against the warfare state and the welfare state, right?
ROCKWELL: Yes, sir.
MOYERS: But in this discussion, you've been so critical of the Republicans that… am I to assume you're going to enroll as a Democrat next year?
ROCKWELL: Well, you know, there's a professor at Harvard, Jeffrey Frankel, who's…
MOYERS: Yeah, I know Jeffrey.
ROCKWELL: …written a paper arguing that the two parties have switched positions ideologically, and that the Republican Party is, despite rhetoric, is today the party of big government, and the Democrats are the party of lesser government. It's very interesting.
I was raised a Republican. I suppose it bothers me more because they use some of the rhetoric that I believe in to cover up the opposite of what I believe in. So, it's, you know, we'll have to see. I mean, it's possible. If the Democrats are smart, they would indeed come out on a more pro-peace, smaller government side, and that of course is the history of the Democratic Party in the 19th century. It was the good party.
And the Republican Party, the party of Lincoln was a party of militarism, of aggressive war, of inflation, of big business, big government partnership, of suppression of civil liberties and all the other things we're all too familiar with.
MOYERS: There are people who would disagree with you that in the 1950's, the Democratic Party, which upheld slavery and segregation in the South was the good party.
ROCKWELL: Well, I think, you know, I'm not saying that any political party is all good. Obviously, there were bad things about the Democrats. And I wish George Washington hadn't owned slaves either. We've had this unfortunate business in our country for a very long time.
MOYERS: But with all due respect, you didn't answer my question. Are you going to enroll as a Democrat?
ROCKWELL: Well, no, because I must say I'm non-partisan. I don't like any of the parties. So, I also don't think politics, electoral politics is our salvation. I don't.
MOYERS: Well, where do people go, who want to be — who are morally and politically agents?
ROCKWELL: Well, I think, you know, if people want to be in politics, you know, that's their own business. It's just for me, it's not the right thing, and I think that we have to educate ourselves, and educate others about our own history, our real history, about what's actually going on these days, about real economics, and the principles of liberty. And I think that is: if we have any salvation, it's through that, and certainly in secular terms.
MOYERS: If people want to know more about your ideas and your work, what can they do?
ROCKWELL: Well, they can look at the Mises Institute web site. And that's M-I-S-E-S.org. And I have my own daily news site, too. It's lewrockwell.com. L-E-W, Rockwell.com.
MOYERS: Thank you very much, Lew Rockwell.
ROCKWELL: Oh, pleasure.
Professor Joseph T. Salerno tells his personal story of how he discovered Austrian economics and how he has become one of the its leading proponents. The lecture is part of the Future of Freedom Foundation’s Fall 2023 online conference “How Austrian Economics Impacted My Life,” and includes an introduction and remarks by Jacob Hornberger, and a question-and-answer period.
To learn more about the Future of Freedom Foundation, visit fff.org.
Tho Bishop, guest-hosting A Neighbor's Choice, interviews Jonathan Newman, author of The Broken Window.
Tho and Jonathan discuss the supposedly transitory aspect of inflation, the overshadowing of economics by central planning, Keynesian economics, and more.
Purchase The Broken Window online at Mises.org/BWindow.
On the latest Free Man beyond the Wall podcast, Pete Quiñones, Patrick Newman, and Tho Bishop discuss Andrew Jackson and his cadre who fought against central banks—and cronyism in general. What can libertarians learn from the strategy they deployed and the power they were willing to wield?
Additional Resources Cronyism: Liberty versus Power in Early America, 1607–1849 by Patrick Newman
"Cronyism from the Constitution to the Mexican-American War": Pete Quiñones interviews Patrick Newman
This special virtual seminar for donors to our fall campaign was livestreamed on October 8th, 2021.
Jeff Deist and Bob Murphy discuss Mises's views on interventionism and their continued relevance today, particularly after the last year and a half of economic intervention resulting from covid tyranny.
"[Interventionism] preserves some of the labels and the outward appearance of capitalism. It maintains, seemingly and nominally, private ownership of the means of production, prices, wages, interest rates, and profits. In fact, however, nothing counts but the government’s unrestricted autocracy... This is socialism in the outward guise of capitalism. It is the Zwangswirtschaft of Hitler’s German Reich" —Ludwig von Mises, The Middle of the Road Leads to Socialism
Read the full text from Mises here.
Jeff Deist and David Gornoski talk about some of the recent news and relevant topics such as the buying up of homes by Black Rock; the federal reserve’s connection to big corporations; the out of control state of the Fed’s reverse REPO market; and what the average person can do to protect themselves from government interference in the market.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist comments on the latest Democrat agenda of increasing the number of judges in SCOTUS.
Does the expansion bill stand any chance in the house? How can conservatives be forward-looking instead of being reactionary all the time? Should we expect a scandal involving Ron DeSantis? What can we learn from Ludwig von Mises about the bureaucratic and working classes in our society?
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist and David Gornoski comment on the latest news such as the fiasco that is Trump’s impeachment, the effort to turn Trump voters into deplorable second-class citizens, the establishment’s history of pushing conspiracy theories, DC’s scapegoating of Florida as punishment for making the regime look bad, the future of fiscal conservatism in Florida, soldiers patrolling Washington DC, the normalization of totalitarianism, and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist joins David Gornoski to talk about the GameStop Wall Street Saga. He highlights how the media narrative seeks to manipulate the masses to view Reddit traders as fascistic and Hedge Funds as the victims. Is there really any difference between what the Wall Street elites are doing and what the Reddit traders did? What exactly is Robin Hood? What is Stake Holder theory? Listen to the entire segment to find out and more.
Find more from David Gornoski on A Neighbor's Choice.
David Gornoski is joined by Jeff Deist who talks about Biden's slandering of half of America's population and the calls to "deprogram" Trump voters. Are the talking heads on TV demanding a monoculture? What exactly is meant by the terms "Big Lie," "Build Back Better," and "Great Reset?" Is there a coordinated push of these terms? Is there ever a possibility of a principle-driven media in our country? Listen to the show to find out and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist calls in to A Neighbor's Choice to comment of the covid stimulus bill, the possibility of inflation, and the positive things we can look forward to during this Christmas season.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist and David Gornoski comment on covid bailouts; Joe Biden’s sky-high promises; the World Economic Forum’s plan to eliminate private property; vaccine passports; and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist returns to the show to comment on allegations of voter fraud; the future of politics in a post-Trump America; the death of the old GOP; the push for a “great reset;” the crippling of the economy via shutdown and bailouts; and more.
Find more from David Gornoski on A Neighbor's Choice.
What do the trends in the ballot counting suggest? Will the election end up in the courts? Tho Bishop joins A Neighbor's Choice to analyze the controversy surrounding the election. What will be Donald Trump’s next move? What lies in store for the pro-liberty, non-interventionist movement in case of a Biden win? Given Biden’s track record on waging wars and locking up non-violent offenders, things do not look promising.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist joins David Gornoski on A Neighbor's Choice to talk about the religiosity of democratic elections, revolutions as late-stage statism, postmodernism as a recipe for social unrest, the great reset, and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist joins David Gornoski on A Neighbor's Choice for a preview of the Trump, Biden debate. On the aborted 60 Minutes Trump interview, Deist says: “Talk to us directly….We don’t need the sham intermediary of CNN or any of these people. That, for me, is what the digital age is all about.” Is Trump the “lesser of two evils”? Deist makes the case that, in terms of centralization, there is almost no difference between Trump and Biden. Join David and Jeff as they reflect on all of this, plus the online mob attack on Chris Pratt, and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist joins David Gornoski to discuss some important upcoming events. Deist addresses the absence of the trillion-dollar deficit and other topics not addressed in the debate. Is there a mass clamoring for the COVID economic shutdowns? What does Dick Costolo’s tweet on executing business leaders reveal about the mindset of Big Tech barons? Who are the Spanish scholastics and how have they influenced the Austrian school of economics? Listen to the full episode to find out.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist returns to the show to comment on Ruth Bader Ginsburg’s passing. Was Bader Ginsburg a judge or legislator? “She was a judge in name only, someone with a political agenda,” Deist says. Are there genuine revolutionaries in America? How does Keynesianism overlap with Fascism? “It’s no coincidence that Mussolini would praise Keynes; every dictator would need the financial wherewithal to spend without restraint.” Listen to the full episode for all this and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist joins David to discuss the latest news of Nashville officials withholding covid numbers from bars and restaurants. What lessons can future generations learn from the stupidity of governments shutting down economies on bogus information? Are mainstream journalists sacrosanct in our culture?
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist returns to the show. Are there any differences between North Korea and Antifa? David asks. Deist says that, for the left, democracy is a means to an end. Listen to the full episode for all this and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist calls in to comment on the CDC sneaking in under COVID regulations to become America’s new landlord. What are the implications of this takeover? Deist says that they are certainly radical. Deist also offers his insights on the surveillance-like supervision in children’s education, pre-existing conditions in COVID deaths, societal depression under economic shutdowns, Andrew Cuomo’s policies, and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist calls in to talk about deflation, Jeff Booth’s book The Price of Tomorrow, the role of the federal reserve in creating consumerism, liberalism as opposed to Marxism, and more.
Find more from David Gornoski on A Neighbor's Choice.
Jeff Deist joins David Gornoski to critique the DNC and their pro-war and divisive policies. Deist also provides some humorous commentary on the DNC’s anti-capitalist rhetoric. On the economic shutdowns and calls for more socialism, Deist remarks: “We’re actually sacrificing the young to the old.”
Find more from David Gornoski on A Neighbor's Choice.
What’s going on in the gold market? Is cryptocurrency the way forward? How can we map out our economic future in light of the GDP drop and unemployment? Jeff Deist calls in to A Neighbor's Choice and discusses Biden’s call for mask mandates, moving on from the lockdowns, and how to realistically deal with the virus.
Find more from David Gornoski on A Neighbor's Choice.
Just as America begins to reopen from the Coronavirus lockdowns, protests break out across the country over the killing of George Floyd by police in Minneapolis. Governors deploy riot police into the streets to deal with looting, Trump threatens to invoke the Insurrection Act of 1807, and millions of Americans wonder if they still have a job. Racial tensions grow, while groups like Antifa violently agitate for the abolition of property and capitalism. With curfews and business closures in effect, what does the rule of law even mean? How does government at any level maintain legitimacy when it cannot provide basic order?
Judge Andrew P. Napolitano, the Senior Legal Analyst for Fox News and a board member of the Mises Institute, joins Jeff Deist for an in-depth look at the legal crisis facing America in the wake of COVID-19 and ongoing civil unrest. Among the topics:
What powers do Trump and governors have to quell protests or prevent the spread of disease? Are orders not authorized by legislatures flatly illegal? Do they carry the force of law?Can Trump call out National Guard or federal military forces without congressional approval or consent of governors?What does due process mean during a crisis? Do constitutional protections disappear when public health is at stake or mass protests overtake the streets?What level of constitutional scrutiny should apply to measures taken by governors and mayors—quarantines, business closures, curfews, police mobilizations?Are qualified immunity protections keeping dangerous cops and politicians from accountability? Will business owners be able to sue state or local governments for violating their rights?Is "property vs. lives" a false choice from a legal perspective? Do police have any affirmative duty to safeguard either?What roles do the Ninth and Tenth Amendments play—or should they play—in how various states deal with these crises? Is federalism poised for a resurgence? This online seminar is a hard-hitting and uncompromising discussion of government malfeasance and lawlessness.
Jeff Deist and economist Daniel Lacalle present a special live seminar on the COVID-19 crisis and what it means for your economic future.
Is the world headed for another Great Depression, or will we enjoy a V-shaped recovery later this year as the virus fades and economies reopen? Are governments and central banks making the situation better or worse? Will stocks bounce back? Do we all face a less prosperous new normal, or will markets and human ingenuity overcome the economic tailwinds?
Mr. Lacalle and host Jeff Deist take an unflinching look at the economic reality.
Topics include:
Prospects for inflation vs. deflationFed and ECB responses to the crisisEffects of government "stimulus"Unemployment and small businessHousing and commercial real estateEquities and bondsOil and commoditiesGold and Bitcoin
Pete Quinones, host of the Free Man Beyond the Wall podcast, and Ryan McMaken discuss the subjects of the articles Ryan has been covering recently about the government's and public’s responses to the Covid-19 crisis.
Tho Bishop joins David Gornoski on A Neighbor's Choice to discuss China's actions and the US government's attacks against small businesses.
Pete Quinones, host of the Free Man Beyond the Wall podcast invited Jeff Deist to return to the show to go over the government’s response to the coronavirus, and to see if there are any positives that can be found in this situation.
Jeff Deist joins Rick Sanchez on RT America to discuss the immense stimulus package proposed by the Trump administration to help the failing US economy.
Is Bernie right to say America has become a socialist country? Jeff Deist joins guest host Judge Andrew P. Napolitano on Kennedy (on Fox Business Network) to discuss the "Capitalism vs. Socialism" debate within the Democrat Party.
Original video © 2020 FOX News Network, LLC. Republished here under "Fair Use" for scholarship and research purposes by a nonprofit educational institution.
Jeff Deist joins David Gornoski to discuss the impending train-wreck of runaway government spending, and why the average person doesn't feel the effects of huge foreign-policy expenditures by government. They also talk about the influence of media outlets during catastrophic events such as the recent terrorist attack in Sri Lanka.
David Gornoski's A Neighbor's Choice Radio airs live Monday 7–9pm and Tuesday–Thursday 8–9pm ET on NewsRadio WFLA in Orlando, 93.1 FM and 540 AM
Jeff Deist joins David Gornoski to respond to billionaire hedge fund manager Ray Dalio's recent interview on 60 Minutes. Jeff discusses the self-serving nature of billionaires like Dalio's lamenting the "failings" of capitalism.
Nomi Prins previews her talk at our event in Ft. Worth this weekend, based on her new book Collusion: How Central Bankers Rigged the World—a damning indictment of how the Federal Reserve bullied other central banks and bailed out Wall Street in the wake of the 2008 financial crisis.
Join us in Texas this Saturday to meet Ms. Prins and receive an autographed copy of Collusion!
Daniel McAdams and Jeff Deist discuss "Military Keynesianism," the unholy practice of using war and foreign interventionism to create phony economic growth inside the DC Beltway. Daniel is the best around when it comes to explaining the US foreign policy imperium, so don't miss him and our great lineup in Fort Worth, this weekend.
Ryan McMaken joins Laura Ingraham and Chris Hahn to discuss whether America is really facing an "epidemic" of school shootings. As Ryan notes, studies indicate that the stats show otherwise, and he picks apart some of the most widely used claims made by opponents of gun rights.
Originally broadcast on "The Ingraham Angle" hosted by Laura Ingraham on the Fox News Channel, 21 May 2018.
Jeff Deist interviews Titus Gebel on the Free Private Cities Project. Find more about Free Private Cities here.
Jeff Deist joins Martin Eriksson to talk libertarianism in Europe and the upcoming Corax conference on Malta featuring Hans-Hermann Hoppe.
Does liberalism require "open borders"? Is nationalism compatible with individual rights? Is democratic majoritarianism a form of colonialism, with predictably bad outcomes for minority populations? And, can mass immigration be reconciled with self-determination?
Dr. Joe Salerno recently addressed these questions in a comprehensive article entitled Mises on Nationalism, the Right of Self-Determination, and the Problem of Immigration. It's a very important piece, and one that every liberty-minded person should read.
In this studio interview, Jeff and Joe discuss Mises's writings on these perennially-timely topics.
Ryan McMaken interviewed by Daniel Brigman on The Power Hour radio show. Produced by www.gcnlive.com
Topics for this wide ranging interview include: booms and busts, private money, bitcoin, central banks, Brexit, protectionist policy under Trump, and trade barriers.
Interviewed by Tyler Xiong at Jifeng Bookstore, Peter Klein explains why the entrepreneurial spirit in the market and free society is an important, extensive, common phenomenon.
Originally posted at Dushuren123.com/bookmov.
Interviewed by John Stossel, Jeff Deist says that politicians like Chuck Schumer are two-faced when it comes to taxing Wall Street. The full segment will run tonight on Fox Business.
And for more, see Stossel's latest column at Townhall:
Government programs almost never die.
Businesses in cozy relationships with government don't die either. Jeff Deist, president of the free-market Mises Institute, says when the housing bubble burst, banks should have been allowed to fail and put through "the bankruptcy and liquidation process."
Investors would have lost big, but that's OK, says Deist. "That's the difference between free-market capitalism and state capitalism. With state capitalism, there are upsides for the parties involved -- but no downsides."
Read the full column.
Ryan McMaken appears on the Tom Woods Show to discuss his recent article, “The Trouble with Public Accommodation.”
Dr. Mark Thornton and Garrett Petersen from Economics Detective Radio discuss drugs in the United States.
Topics include: how drug prohibition causes homelessness, the rising heroin epidemic in America, the effects of American foreign policy on opiate supply, and the political lies behind drug prohibition.
See Dr. Thornton's recent article on the Heroin Epidemic here, and visit The Economics Detective website here.
Interviewed by Jay Taylor, Dr. Mark Thornton gives his views on the presidential candidates and the problems with their economic policies. They also discuss trade agreements and the effects of negative interest rates overseas.
Interviewed by Scott Horton, Dr. Mark Thornton discusses how the Fed is responsible for economic booms and busts; the increase of economic inequality after the gold standard was abandoned in 1971; and the introduction of negative interest rates.
Visit The Scott Horton Show website by clicking here.
Dr. Mark Thornton on the View Point radio program. Interviewed by host Joey Clark, Mark discusses the Austrian view of economics and how it differs from the mainstream perspective. Topics include: malinvestment, prices, deflation, recessions, central banks, interest rates, and the 'Skyscraper Curse'.
Dr. Mark Thornton is interviewed on the RT program, "Boom Bust". He discusses malinvestments stimulated by artificially lowered interest rates.
Quotes discussed in the interview:
"The lowering of the rate of interest stimulates economic activity. Projects which would not have been thought "profitable" if the rate of interest had not been influenced by the manipulations of the banks, and which, therefore, would not have been undertaken, are nevertheless found "profitable" and can be initiated." -Ludwig Von Mises in The Austrian Theory of the Trade Cycle and Other Essays, Page 28
"The crisis and the ensuing period of depression are the culmination of the period of unjustified investment brought about by the extension of credit. The projects which owe their existence to the fact that they once appeared "profitable" in the artificial conditions created on the market by the extension of credit and the increase in prices which resulted from it, have ceased to be 'profitable.'" -Ludwig Von Mises in The Austrian Theory of the Trade Cycle and Other Essays, Page 30
You can find the original interview video here.
Mark Thornton is interviewed on PressTV. He discusses the riots in Greece over austerity measures demanded by the country’s international lenders in exchange for fresh bailout funds.
Senior Fellow Mark Thornton is interviewed on The Power & Market Report. Dr. Thornton discusses the Skyscraper curse in Auburn, Alabama, the relationship between skyscrapers and the Austrian business cycle, and why the market forgets about crises.
Read the Mises Daily article mentioned in the interview here.
Interviewed by host Paul Molloy, Mark Thornton discusses a recent Mises Daily article on the consequences of setting a minimum salary of $70,000.
They also examine the negative impact of the minimum wage, and how fair wages are determined by the market.
You can read the Mises Daily article they review by clicking here.
Mark Thornton is interviewed by Phil Pepin on The Pursuit of Freedom radio show. They discuss Dr. Thornton's experiences teaching Austrian economics, the development of the Mises Institute and Austrian economics from the beginning, and the growing acceptance (and opposition) of Austrian ideas in the United States.
Questions:
2:25 - Most memorable moments teaching Austrian economics11:11 - Do you think the impact (of the Mises Institute) has been significant?16:52 - How many Mises Institutes are there at this point?19:56 - Discussion of the development of Austrian Economics, starting with Mises escaping Austria during WWII 24:46 - Further discussion on Austrian Economics breaking into the mainstream29:07 - Discussion on civil unrest caused by the state34:04 - Discussion of 'free trade' agreements from the quote: "All these free trade agreements are not free trade at all, but actually managed agreements. They're corporatist agreements."37:45 - Discussion of China's foreign policy relative to the United States'
Mark Thornton and host Albert Lu discuss the recent violence and in cities such as Ferguson or Baltimore, and if the solution to this 'urban blight' is more punishment and enforcement of the individual, or more economic and personal liberty for the individual.
Dr. Thornton has recently written a Mises Daily article on this topic, which can be found here.
Interviewed by host Jack Thompson, Mark Thornton discusses discusses his work on what is known as "The Skyscraper Index," which posits that each time the world's largest skyscraper is built, an economic crisis follows.
Interviewed by host Phil Pepin, Mark Thornton discusses the fed's role in the 2007 crash, the fed's special treatment of banks, and the effect of the fed's hold on interest rates.
Interviewed by host John O’Donnell, Mark Thornton discusses Say's Law and how Keynesian economics still disputes it today. They also discuss 2015 capital market forecasts, and why quantitative easing is not working in Japan, Europe, and the USA.
In this interview, Mark Thornton talks to host Scott Horton about how we are much better off without the fed, and how QE monetary policy is causing the global economy to contract.
Interviewed by host Dawn J. Bennet, Mark Thornton discusses how the recent sever of most foreign currency affects the dollar, why Janet Yellen’s only bluffing about raising rates, and why Americans need to pay closer attention to the recent election in Greece.
In this informative interview, Mark Thornton details how Carl Menger started the Austrian school of economics, and the possible Greek and Roman philosophical roots the school observes. Dr. Thornton and host Frank Conway also discuss the important limitations to Austrian economic thinking, how von Mises’ papers got in the hands of Nazi Germany and then the Soviets, and the different economic perspectives and predictions of Ludwig von Mises and Irving Fischer.
Interviewed by host Russ Belville, Mark Thornton discusses the future of marijuana economics, as legalization unfolds nationwide.
In this fascinating interview, Mark Thornton explains how the Austrian business cycle predicted the housing bubble, and how those cashing in on it criticized him until the bubble burst. Dr. Thornton and host Justin Mohr also discuss the US economy and how it isn't recovering, how bubble blowing from the fed might end, and the increasingly popular topic of low oil prices.
Interviewed by host Elijah Johnson, Mark Thornton explains how the Austrian view of economics contrasts with the mainstream view, how you cannot have a truly free market without sound money, and how competing currencies could benefit our economy now.
This is part one of a two part interview.
Interviewed by Solidus.Center founder Seth Mason, Mark Thornton and Walter Block discuss the history of the Fed, how it harms the average American, and how the monetary system would function if it were abolished.
Interviewed by host Paul Molloy, Mark Thornton discusses the positive results of marijuana legalization in Colorado and other states. He also discusses his recent Mises Daily, "The Sky Is Not Falling: Legal Pot Turns One in Colorado".
Interviewed by host John O'Donnell, Peter Klein discusses the economics of sports business and the role that crony capitalism plays in professional and quasi-professional sports, plus what 2015 may hold for markets.
Interviewed by host Scott Horton, Mark Thornton discusses the relation between oil prices and the world economy, and how Colorado’s first year of marijuana legalization proves that ending drug prohibition doesn’t mean criminals and teenagers will run wild in the streets.
Interviewed by Albert Lu, host of the Power & Market Report, Mark Thornton talks about the collapse in oil prices.
Interviewed by host John O'Donnell, Patrick Barron discusses how switching to sound money could change the global economy for the better.
Interviewed by host Paul Molloy on the Freedom Works radio program, Mark Thornton discusses how the Harrison Narcotics Tax Act impacted the American public and shaped the 'War on Drugs' we know today.
Interviewed by Marina Dzhashi on the Agree or Disagree radio program, Mark Thornton of the Mises Institute and Vladimir Rojankovsky, head of research at Nord Capital, debate China’s purchasing power.
Interviewed by Mo Dawoud of the Wall St for Main St podcast, Mark Thornton explains his prediction of the housing bubble in 2004. They also discuss the 'Skyscraper Curse'.
Interviewed by Emil Franzi and Bruce Ash on AM 1030 KVOI in Tuscon, Mark Thornton offers an Austrian perspective on several issues such as Obamacare, the state of the US economy and the dollar, government success in innovation (or lack there of), and the ruling class.
Interviewed by Freedom Works host Paul Molloy, Mark Thornton discusses recent advancements in recreational marijuana legislation, as well as the stigma surrounding marijuana and its users, and its possibly beneficial uses.
Interviewed by Freedom Works host Paul Molloy, Mark Thornton discusses how sports stadiums are largely funded by the taxpayer, and how major sports leagues are — or aren't — taxed.
Interviewed by Merlin Rothfeld and John O'Donnell, Mark Thornton discusses the seven mega-trends facing our economy and what it means looking forward. Dr. Thornton also talks about the great classes available at Mises.org which will further improve your understanding of how our economic system functions.
Interviewed by host Alan Butler, Mark Thornton discusses a wide variety of timely topics.
Interviewed by host Tom Woods, Bob Murphy discusses why we don't, in fact, need Nancy Pelosi for anything.
Interviewed by host Alan Butler, Mark Thornton discusses the failed War on Drugs, and the current state of the U.S. economy.
Interviewed by host Alan Butler, Mark Thornton discusses gun control in the early days of Nazi Germany.
Interviewed by host Redmond Weissenberger, Mark Thornton discusses markets, Keynes, Keynesians, and general economic craziness.
Interviewed by host Alan Butler, Mark Thornton explains how crony capitalism lead to the banning of industrial hemp in the United States. Dr. Thornton also discusses several other relevant economic topics.
Interviewed by host Robert Wenzel, Jeff Deist discusses the Mises Institute's growth and popularity, the legacies of Mises and Rothbard, and the future.
Interviewed by host Paul Molloy, Mark Thornton discusses gun control and freedom, and also the ongoing conflict in the Ukraine.
Interviewed by host Alan Butler, Mark Thornton discusses Martin Wolf's support for continued easy money policy, and also the latest push by the central bankers and their friends in the media to try to convince us that rising prices are good for us.
Interviewed by hosts Steve Floyd, Josh Bennett, and Aaron Bennett, on KFAR 660 AM Fairbanks, Mark Thornton discusses the state of the economy, Liberty, and the Skyscraper Index.
Interviewed by host John O'Donnell, Mark Thornton discusses the state of the economy and jobs, why inflation will continue to erode the quality of life for boomers, and why Austrian Economists were able to call the housing bubble forming and the bust in 2006.
Interviewed by host Justin Longo, Peter Klein discusses liberty, entrepreneurship, and why they go hand in hand.
Interviewed by host John O’Donnell, Peter Klein discusses income inequality cause and effect, role of Fed intervention in capital markets, malinvestment in boom-bust cycles, and the 99% vs the 1% myth. Klein also discusses why boomers are working longer and the impact of youth joining the workplace.
Interviewed by host Alan Butler, Jeff Deist discusses the Federal Reserve, the criminal political class, and how the collapse of the U.S. dollar is imminent.
Interviewed by host Alan Butler, Mark Thornton discusses inflation, deflation, and more.
Interviewed by host Paul Molloy, Mark Thornton discusses the Constitution, the Articles of Confederation, and Ryan McMaken's recent article: "Our Oligarchs Can Thank James Madison" (http://mises.org/daily/6732).
Interviewed by host Alan Butler, Mark Thornton explains fractional reserve banking and describes how we can ease our way out of the Federal Reserve System
Interviewed by host Andy Duncan, Jeff Deist discusses how Austrian economics can help make people wealthier, and how to gain practical knowledge about the Austrian school.
Interviewed by host Alan Butler, Mark Thornton describes the history of the dollar from a silver coin to its current fiat status.
Interviewed by host Tom Woods, Joe Salerno talks about the Fed, the Great Depression, currency wars, deflation, and why governments hate cash.
Interviewed by Merlin Rothfeld and John O'Donnell, Bob Murphy illustrates how government interference with the market economy leads to human misery.
Interviewed by host Alan Butler, Mark discusses the current economic situation, the end of Prohibition, the Articles of Confederation, and several other interesting topics.
Interviewed by host Alan Butler, Joe Salerno discusses the peak of the business cycle and the ensuing financial crisis.
Interviewed by host Alan Butler, Mark Thornton discusses the first three central banks in the United States.
Interviewed by Merlin Rothfeld and John O'Donnell, Shawn Ritenour explains the truth behind the government's economic data and the current macro market picture, and discusses the Fed's current actions.
Interviewed by host Alan Butler, Mark Thornton explains why the Crack-Up Boom phase of a fiat money collapse is one of the scariest economic phenomena in human history.
Interviewed by host Alan Butler, Mark Thornton discusses the reality of the U.S. dollar, prices, and goods.
Interviewed by host Redmond Weissenberger, Joe Salerno discusses some ways that government interventionism can destroy an economy.
Interviewed by host Tom Woods, Mark Thornton discusses austerity, drug prohibition, Obamacare, and more.
Interviewed by hosts Greg Lenz and Joe Ruiz, Mark Thornton discusses jury nullification, crypto-currency, and Frédéric Bastiat.
Interviewed by host Alan Butler, Mark Thornton discusses the recent article he wrote in response to President Obama declaring that now was the time to put an end to austerity ("An End to Austerity?" mises.org/daily/6675).
Interviewed by host Alan Butler, Jeff Deist explains how economics, foreign policy, and peace are interrelated.
Interviewed by Emil Franzi on AM 1030 KVOI in Tuscon, Mark Thornton explains why President Obama and Congress should do what is best for the economy, instead of enriching themselves and those who feed at the public trough.
Interviewed by Paul Molloy, Mark Thornton talks about socialism of the Nazi German pattern, the early progressive movement in the U.S., and the dangers of government control.
Interviewed by hosts Steve Floyd, Josh Bennett, and Aaron Bennett, on KFAR 660 AM Fairbanks, Mark Thornton talks about current topics in economics and freedom, and where the U.S. is headed.
Interviewed by hosts Merlin Rothfeld and John O'Donnell, Jeff Deist talks about his new role as President of the Mises Institute and what the Institute’s goals are. He also discusses the current economic situation, alternative currency methods, and politicians who share an Austrian-friendly view of the markets.
Interviewed by host Redmond Weissenberger, Mark Thornton discusses how central bankers cause problems in the economy.
Interviewed by host Alan Butler, Mark Thornton discusses how mainstream economists are sitting in the dark with no tools to install another light bulb.
Interviewed by host Alan Butler, Mark Thornton discusses the U.S. history of central banks, focusing on the period know as the "Era of Free Banking" when there was no central bank at all.
Interviewed by host Redmond Weissenberger, Mark Thornton discusses the history of the U. S. empire of debt.
Interviewed by host Marc Clair, Mark Thornton differentiates between the mainstream approach to an issue and an Austrian or free market approach. Mark also discusses some common objections to drug legalization, and articulates some of the lessons we can learn about prohibition from shows like “Breaking Bad” and “The Wire”.
Interviewed by host Tom Woods, Peter Klein discusses a recent 'Rolling Stone' column claiming that Karl Marx predicted the problems of 2014.
Interviewed by host Alan Butler, Mark Thornton talks about the Panic of 1873 and the Long Depression that followed.
Interviewed by host Scott Horton, Mark Thornton discusses the government policies that caused and worsened the Great Depression, cutting welfare-for-the-rich before food stamps and unemployment benefits, and the upcoming Austrian Economics Research Conference.
Interviewed by host Thom Hartmann, Mark Thornton explains why the minimum wage actually hurts the workers it is supposed to help.
Interviewed by Merlin Rothfeld and John O'Donnell, Mark Thornton discusses the current market situation, takes a look at the gloomy unemployment scene in the U.S., and offers solutions for getting jobs back in America.
Interviewed by Merlin Rothfeld and John O'Donnell, Hunter Lewis discusses the major problem facing government and big business, and outlines some of the areas where there is significant corruption.
Interviewed by host Redmond Weissenberger, Mark Thornton discusses the real estate and job markets.
Interviewed by host Alan Butler, Mark Thornton talks about Keynesian deflation-phobia, as well as the Federal Income tax.
Interviewed by Paul Molloy, Mark Thornton talks about Ludwig von Mises, the Mises Institute, and Classical Liberalism.
Interviewed by host Jay Taylor, John Cochran explains how Keynes’ anti-free market interest rates are destroying life sustaining capitalism.
Interviewed by host Jay Taylor, Mark Thornton explains why he believes the effect of current debt-based monetary system will result in inflation or deflation.
Interviewed by host Alan Butler, Mark Thornton discusses how to revitalize the economy. The show ends with Thornton discussing the economics of the U.S. Civil War.
Interviewed by host Alan Butler, Bob Murphy talks about a course he is teaching entitled "Introduction to the Free Market" (http://academy.mises.org/courses/basics_market/).
Interviewed by host Alan Butler, Mark Thornton discusses a wide range of economic topics.
Interviewed by host Al Korelin, Mark Thornton discusses how Austrian Economic principles can lead the U. S. on the path back to prosperity.
Interviewed by Ken McClenton on Blog Talk Radio's "The Exceptional Conservative Show," Mark Thornton discusses whether the Republic has failed and democracy succeeded in the United States, and what we must do to defeat the philosophy of statists.
Interviewed by host Alan Butler, Mark Thornton weighs in on the eventual economic impact of last week's budget deal.
Interviewed by Merlin Rothfeld and John O'Donnell, Mark Thornton discusses the legalization of Marijuana and its economic impact, as well as the current market and potential bubble situations brewing among many different asset classes.
Interviewed by host Al Korelin, Mark Thornton offers an Austrian perspective on the world of bubbles in which we live.
Tom Woods, guest host of "The Peter Schiff Show," interviews Peter Klein, who discusses how the anti-Apartheid movement, Mandela included, erroneously viewed Apartheid as a "capitalist" system, and turned to Marxism-Leninism as the only viable economic (and political) alternative.
Interviewed by host Alan Butler, Mark Thornton talks about alternative currencies, the history of U.S. monetary policy, and the recent rise in interest for the Austrian school of economics.
Interviewed by host Angel Clark, Mark Thornton explains and discusses the Skyscraper Index and what it can tell us about the economy.
Interviewed by Scott Horton, Mark Thornton discusses life in crony-capitalist America, where Wall Street gets bailouts and interest-free money and Main Street is stuck with Obamacare, food stamps and persistent unemployment.
Interviewed by host Alan Butler, Mark Thornton dispels the notion that a little bit of inflation is a good thing. He also discusses central banking and boom-bust cycles, and addresses the Keynesian contention that loose monetary policy can help lower unemployment.
Interviewed by Merlin Rothfeld and John O'Donnell, Peter Klein discusses some remedies to get the U.S. economy back on track, the impact of Janet Yellen’s nomination for the markets, and what a government default may look like.
Interviewed by host Marina Dzhashi, Mark Thornton discusses the U.S. government shutdown and its impact on the country's economy and image abroad.
Interviewed by Scott Horton, Mark Thornton discusses why we need to lower the debt ceiling; the dangers of a depreciating dollar; why the NSA’s spy data is more useful for blackmail than fighting terrorism; and the Fed’s money-creation shell game.
Interviewed by host Alan Butler, Mark Thornton shoots down the notion of a flexible currency being good for the economy.
Interviewed by Merlin Rothfeld and John O'Donnell, Mark Thornton offers an Austrian perspective on our current predicament in the U.S., presents potential likely outcomes, and proposes solutions which may help the U.S. government get out from under its current mountain of debt.
Interviewed by host Alan Butler, Mark Thornton discusses economics from the Austrian perspective.
Interviewed by host Alan Butler, Mark Thornton explains the Austrian Business Cycle Theory and the current state of the U.S. economy.
Interviewed by Ken McClenton on "The Exceptional Conservative Show," Mark Thornton discusses the characteristics of a just society and how American can become one.
Interviewed by "Butler on Business" host Alan Butler, Mark Thornton explains the differences between Austrian and Keynesian economics.
Interviewed by Ken McClenton on "The Exceptional Conservative Show" on 27 May 2013, Mark Thornton talks about the historical reaction of Wall Street to government intervention, and discusses whether or not we need the Federal Reserve.
Host Alan Butler discusses inflation and fractional reserve banking with Mark Thornton.
Interviewed by "Butler on Business" host Alan Butler, Mark Thornton talks about the popping of the bond bubble.
Featured on RT, Mark Thornton talks about Bit-coin and the government regulation of virtual currencies.
Interviewed by Emil Franzi on AM 1030 KVOI's "Inside Track" program in Tuscon, 25 May 2013, Mark Thornton discusses some of the economic concepts revolving around the ideas of a free market.
Broadcast on RT's Prime Interest program, Mark Thornton talks to producer Bob English about Edward Snowden, the financial markets, and the Fed.
Interviewed by host Scott Horton, Mark Thornton talks about how Austrian economists recognized the housing bubble long before it burst, the stock market’s meteoric rise and record levels of investor margin/leverage, a possible future ratings downgrade on US debt, and the crony capitalists among us.
Interviewed by host Scott Horton, Mark Thornton talks about the increasingly popular and mainstream Austrian school of economics, how sound economic theory leads to a thorough understanding of foreign and monetary policy, and more.
Interviewed by host Ben Stone, Mark Thornton talks about Bitcoins, fiat greenbacks, the Federal Reserve, and the Iron Law of Prohibition.
Interviewed by host Coy Barefoot, Mark Thornton talks about the NSA spying on Americans, and more.
Interviewed by host Mike Stein of KWAM 990 AM, Mark Thornton talks about Edward Snowden, PRISM, unchecked government powers, and more.
Interviewed by host Michael Dukes on KFAR 660 AM, Mark Thornton talks about the U.S. Dollar.
Interviewed by hosts Steve Gruber and Jo Anne Paul, Mark Thornton talks about the intrusive nature of the state.
Interviewed by host Barb Adams, Mark Thornton talks about 'The Great Gatsby', the economics of prohibition, gun control, and more.
Interviewed by Ken Morgan and Julie Dougherty on MoneyRadio 1510's "Business for Breakfast," 21 May 2013.
As interviewed by Mark Carbonaro, 1460 KION, Salinas, California; 29 April 2011. [13:04]
As interviewed by Mac McDowell on the "Boiling Point" radio program, 92.5 FM in San Antonio, Texas. Recorded 21 May 2011. [22:22]
Victor Mikhailovsky, the sixteen-year-old host of the online radio program "Insane Government," interviews Mark Thornton on the topic of the war on drugs and the economics of drug prohibition. Recorded 11 May 2011. [1:04:21]
Jeffrey Tucker interviews Frank Daumann, professor for the Economics of Sports at the University of Jena, Germany. Recorded 28 February 2011. [18:18]
Dennis Miller interviews Thomas E. Woods, Jr., author of 'Rollback,' who takes a closer look at Obama's new budget. Recorded 15 February 2011. [10:31]
Jeffrey Tucker interviews Stephan Kinsella, instructor of the Mises Academy's forthcoming course, "Rethinking Intellectual Property: History, Theory, and Economics". Recorded 9 October 2010. [25:10]
Jeffrey Tucker interviews Tom Woods on the topic of Tom's anthology (edited with Murray Polner), 'We Who Dared to Say No to War: American Antiwar Writing from 1812 to Now.' Recorded in Auburn, Alabama, at the Ludwig von Mises Institute, 21 July 2010.
Jeffrey Tucker interviews Mark Thornton, senior fellow at the Ludwig von Mises Institute, and editor of the new translation of Richard Cantillon's 1755 masterpiece, An Essay on Economic Theory. Recorded 27 August 2010. [29:17]
Jeffrey Tucker interviews Tom Woods on the topic of the forthcoming online Mises Academy course, "The New Deal: History, Economics, and Law," which runs from September 6 through October 22, 2010.
Interviewed by special guest host, Zoe Russell, on the "Free Markets" internet radio program; 17 July 2010. [44:07]
Tom Kowitz and Michele Gaudin of WGSO 990AM, New Orleans, interview Tom Woods on the topic of his book Nullification, 17 July 2010. [20:16]
Tom Kowitz and Michele Gaudin of WGSO 990AM, New Orleans, interview Professor Walter Block, 17 July 2010. [20:47]
Interviewd by Susan Modaress on PressTV's "The Autograph," 14 July 2010. In this episode, Dr. Woods discusses his latest book, Nullification. [25:59]
Bob DelGiorno of the "First News" radio program on WWL, New Orleans, interviews Professor Walter Block, 7 June 2010. [7:08]
Judge Andrew Napolitano interviews Professor Walter Block on free-market environmentalism, 27 May 2010. [6:21]
As interviewed by Dan Cofall on the Wall Street Shuffle radio program; CNN Radio; Dallas, Texas, 10 May 2010. [17:15]
Interviewed by Judge Andrew Napolitano on the "Freedom Watch" program, 27 January 2010. [7:05]
Jeffrey Tucker interviews Mises Institute founder Lew Rockwell, and discusses the Murray Rothbard festschrift, published in 1986 in honor of Rothbard's sixtieth birthday. Recorded 17 November 2009. [14:05]
As interviewed by Todd Andrew Barnett on the Liberty Cap Talk Live internet radio program. Recorded 4 September 2009. [58:23]
Interviewed by Terry O'Neill and Ron Gray on the "RoadKill Radio" internet radio program, Vancouver, Canada; 11 August 2009. [49:37]
Interviewed by Jeff Crouere on the "Ringside: Politics With a Punch" program, WGSO 990AM, New Orleans; 9 July 2009. [29:16]
Interviewed by Michael Beitler on the "Free Markets" internet radio program; 20 November 2008. [42:27]
Interviewed by Michael Beitler on the "Free Markets" internet radio program; 18 June 2009. [32:12]
Interviewed by Michael Beitler on the "Free Markets" internet radio program; 21 May 2009. [35:43]