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David Hume's Insights Explain America's Economic Decline

Play Episode Listen Later May 27, 2025


The Trump White House has enacted tariffs in the belief that other countries are “cheating” by enacting tariffs against US goods and “manipulating” their currencies. However, with the US dollar being the world's reserve currency, the US has engaged in dollar manipulation through inflation.Original article: https://mises.org/mises-wire/mmt-and-us-history-redefining-chartalism

Truth or Consequences

Play Episode Listen Later May 27, 2025


The transatlantic slave trade from Africa is a well-known chapter in the history of slavery in the Western Hemisphere, but much lesser known is the enslavement of Native Americans. Many of them were shipped to plantations in the Caribbean where they were worked to death.Original article: Truth or Consequences

Don't Be A Panican, But Question Government Shenanigans

Play Episode Listen Later May 27, 2025


Ours in an age when people panic, sometimes for good reasons but often for bad. Governments benefit from panicked citizenry, which is why we always should question those political decisions that can turn our lives upside down.Original article: Don't Be A Panican, But Question Government Shenanigans

Inflation: Looking Beyond Aggregates

Play Episode Listen Later May 27, 2025


Mainstream economists define inflation as the increase in an imaginary “price level” that is relatively neutral in its effects. Austrian economists, however, know better, as they realize that the effects of inflating the money supply are anything but neutral.Original article: Inflation: Looking Beyond Aggregates

Why Elon Musk Is Right: The Case Against Subsidizing Amtrak

Play Episode Listen Later May 27, 2025


Amtrak is always on the verge of reviving intercity rail traffic in the US, or at least that is what politicians want us to believe. The truth is that the case for defunding Amtrak has never been stronger.Original article: Why Elon Musk Is Right: The Case Against Subsidizing Amtrak

Wealth Generation and the Market Economy

Play Episode Listen Later May 27, 2025


A free market economy does not generate jobs or money. Instead, it creates wealth through exchange and production. Government intervention, contrary to what mainstream economists believe, does not enhance wealth, but instead destroys it.Original article: Wealth Generation and the Market Economy

Enslavement of Native Americans in the Caribbean

Play Episode Listen Later May 27, 2025


The transatlantic slave trade from Africa is a well-known chapter in the history of slavery in the Western Hemisphere, but much lesser known is the enslavement of Native Americans. Many of them were shipped to plantations in the Caribbean where they were worked to death.Original article: Enslavement of Native Americans in the Caribbean

The Political Business Cycle 50 Years Later

Play Episode Listen Later May 27, 2025


William Nordhaus coined the term “Political Business Cycle” a half-century ago. The idea was that government authorities, particularly the central bank, would manipulate the economy to correspond with election cycles, a practice that continues to this day.Original article: The Political Business Cycle 50 Years Later

JFK and the Burden of Proof

Play Episode Listen Later May 27, 2025


We know what happened on November 22, 1963, at Dealey Plaza in Dallas, but there is a lot about that terrible day we don't know. But we also know that President Kennedy challenged the National Security State. Did it cost him his life?Original article: https://mises.org/mises-wire/jfk-and-burden-proof

The Politics of Guilt

Play Episode Listen Later May 27, 2025


From Reconstruction to George Floyd, the left‘s guilt industry has run at full speed. As Murray Rothbard wrote, it is time to stand up to those that use guilt as a social weapon.Original article: https://mises.org/mises-wire/politics-guilt

We Never Got to Torture Congress

Play Episode Listen Later May 26, 2025


Thanks to the endless “War Against Terror,” the US Government promoted methods of torture, including some borrowed from the sadistic torturers of the former Soviet Union. Congress stood by and let it happen.Original article: https://mises.org/mises-wire/we-never-got-torture-congress

What Is the Rationale Behind Current US Tariff Policy?

Play Episode Listen Later May 26, 2025


The Trump administration has pursued a high tariff policy, reversing the movement to lower trade barriers around the world. The justification for this policy is the presence of trade deficits with other nations. However, what if US trade deficits don't matter?Original article: https://mises.org/mises-wire/what-rationale-behind-current-us-tariff-policy

How High Egg Prices May Resemble High OPEC Cartel Oil Prices

Play Episode Listen Later May 26, 2025


While no one is accusing egg producers of colluding or price-fixing, from an economic standpoint, it certainly could be happening either by design or incidentally.Original article: https://mises.org/power-market/how-high-egg-prices-may-resemble-high-opec-cartel-oil-prices

Why Haters of Free Markets Love the Fruits of Free Markets

Play Episode Listen Later May 26, 2025


There are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.Original article: https://mises.org/mises-wire/why-haters-free-markets-love-fruits-free-markets

What the New Right Gets Right—and Wrong—About Free Trade

Play Episode Listen Later May 26, 2025


Bob takes a close look at Oren Cass's recent appearance on Tucker Carlson, where Cass argued for free trade to a skeptical conservative audience. Bob unpacks Cass's arguments about tariffs, comparative advantage, and trade deficits—not to attack, but to clarify. Using classical and Austrian economics, Murphy shows why U.S. economic malaise can't be solved with tariffs, but also why dismissing Cass's concerns outright is a strategic and economic mistake.Oren Cass on The Tucker Carlson Show: Mises.org/HAP501aOren Cass on The Infineo Podcast: Mises.org/HAP501bThe Human Action Podcast Episode on Comparative Advantage: Mises.org/HAP501cOren Cass, "Free Trade's Origin Myth": Mises.org/HAP501dOren Cass, "The Truth About Tariffs": Mises.org/HAP501eThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Are Bond Vigilantes Finally Waking Up?

Play Episode Listen Later May 24, 2025


This week, interest rates spiked as Trump's spending problem convinced investors they want higher yields for trillions of new federal debt.Be sure to follow the Loot and Lobby podcast at Mises.org/LL

The Triumph of Economic Freedom

Play Episode Listen Later May 24, 2025


In this episode, Mark Thornton discusses The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism, the new book by Senator Phil Gramm and Professor Donald J. Boudreaux.Mark reflects on the persistent misconceptions about capitalism in America and offers up a "Marxist interpretation" of our dilemma. He explores how entrenched ideologies shape the way information is presented, the influence of state actors on education and media, and the ways in which these forces skew perceptions of economic history. Ultimately, Mark argues for a more critical and evidence-based approach to understanding capitalism.Additional Resources"Your Kids Are Already Communists, and College Will Make It Worse" (Minor Issues, Episode 89): Mises.org/MI_89"Political Bias in Academia" (Minor Issues, Episode 95): Mises.org/MI_95Be sure to follow Minor Issues at Mises.org/MinorIssues

Is Culture Degeneration Biological or Ideological?

Play Episode Listen Later May 24, 2025


Why do cultures degenerate? At the recent Natal Conference, Robin Hanson cites biological and evolutionary factors. However, if one looks to Mises and the Austrians, we look squarely at human action that begins with the human mind and purposeful action.Original article: https://mises.org/mises-wire/culture-degeneration-biological-or-ideological

Price Controls and Drug Shortages in France: A Textbook Case of the Evils of Interventionism

Play Episode Listen Later May 24, 2025


France is facing critical shortages of a number of drugs, and one need look no further for a cause than a price control regime. Naturally, the French media and government blame capitalism and look to double down on the intervention that has causes this crisis.Original article: https://mises.org/mises-wire/price-controls-and-drug-shortages-france-textbook-case-evils-interventionism

Biden, Bombs, and Bonds

Play Episode Listen Later May 23, 2025


Biden's hidden illness, Trump's surprise foreign-policy pivot, and America's bond meltdown.Welcome to the inaugural episode of the Power & Market Podcast, a weekly news recap from the Mises Institute's editorial team.This week, join Ryan McMaken, Tho Bishop, and Connor O'Keeffe as they unpack the political theatrics behind Biden's health cover-up, explore emerging cracks in America's financial foundations, and break down Trump's provocative Riyadh speech. Are bond vigilantes finally waking up, and what's next for the economy?

Lord of the Manor

Play Episode Listen Later May 23, 2025


Dr. David Gordon reviews Mary Grabar‘s Debunking FDR, which examines Roosevelt‘s paternalistic worldview and how it shaped his political life and his presidency. Original article: https://mises.org/friday-philosophy/lord-manor

Relearning the Lessons We Never Learned from World War I

Play Episode Listen Later May 23, 2025


The 20th century gave us two world wars that have altered the world's political landscape to this day. We would do well to remember the main lesson from World War I: there is no “honor” in warfare. It is pure murder.Original article: https://mises.org/friday-philosophy/lord-manor

Student Loans: A New Sheriff in Town

Play Episode Listen Later May 23, 2025


Forbes called this explosive loan situation, a “perfect storm…of heavier debt loads, higher payments, and an unforgiving economy.”Original article: https://mises.org/mises-wire/student-loans-new-sheriff-town

MMT and US History: Redefining Chartalism

Play Episode Listen Later May 23, 2025


MMT uses chartalism and a few dubious examples to appeal to history to establish the theory‘s authority and validity, only to discard this element as irrelevant and unnecessary.Original article: https://mises.org/mises-wire/mmt-and-us-history-redefining-chartalism

The Rise of War Propaganda and the Defeat of Laissez-Faire

Play Episode Listen Later May 22, 2025


In this lecture from the Mises Institute's recent Conference on War Revisionism, McMaken looks at how classical liberals' pro-peace foreign policy was defeated by a century of war propaganda beginning with the First World War. Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbardRadio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off

What the Biden Health Coverup Reveals About the Political Class

Play Episode Listen Later May 21, 2025


The reaction to Biden's cancer announcement reveals how little trust the public has in the people who spent years claiming that Biden's mental decline was fabricated by right-wing propagandists. That lack of trust is well deserved. Read the article here: https://mises.org/mises-wire/what-biden-health-coverup-reveals-about-political-classThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at https://mises.org/gabfreebookBe sure to follow the Guns and Butter podcast at Mises.org/GB

Gold/Silver Ratio Signaling Rapid Reversal and Recession Coming

Play Episode Listen Later May 20, 2025


Mark Thornton appears on Liberty and Finance with Elijah K. Johnson. They discuss the economic implications of the historically high gold-silver ratio. Dr. Thornton emphasizes the importance of historical data and Austrian economic principles in understanding crises. He also stresses the need for practical financial education, as government responses are failing to address core economic problems, leaving markets vulnerable to heightened volatility.The original interview is available on YouTube. For more information, visit Libertyandfinance.com.

The Righteous Cause Conquers the World

Play Episode Listen Later May 20, 2025


Brion McClanahan dismantles the so-called "righteous cause" narrative that shapes modern American history and foreign policy, tracing its roots from Sumner and Lincoln to the war in Iraq.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

Reconstruction Reconsidered

Play Episode Listen Later May 20, 2025


Who really caused the violence of Reconstruction? Wanjiru Njoya exposes how federal intervention fueled racial conflict and dismantled the South's social order—challenging modern myths with historical truth.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

The "New Economists" and Military Keynesianism

Play Episode Listen Later May 19, 2025


Military Keynesianism wasn't just economic policy, it was socialism in disguise. Joseph Salerno reveals how John F. Kennedy's economists used war spending and deficits to erode liberty under the guise of stability and growth.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

Origins of the National (Military) Science Foundation

Play Episode Listen Later May 19, 2025


Does government-funded science drive progress or distort it? Peter Klein uncovers the hidden costs, cronyism, and political agendas behind the National Science Foundation and federal research funding.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

The Importance of Ralph Raico's Foreign Policy Revisionism

Play Episode Listen Later May 19, 2025


Ryan McMaken discusses Ralph Raico's critique of war propaganda, revealing how states systematically shape history to justify endless conflict—and why revisionism is essential for reclaiming peace and liberty.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

Examining Pentagon Lies in Real Time: A Personal Perspective, a Public Prescription

Play Episode Listen Later May 19, 2025


From Vietnam to Iraq, Pentagon insider Karen Kwiatkowski reveals firsthand how government lies drive America's wars—and how courageous whistleblowers fight back with truth.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

Why Are US Drug Prices So High?

Play Episode Listen Later May 19, 2025


Economist Alex Tabarrok joins Bob to review Trump's executive order on prescription drug pricing. They explore how price discrimination works in global pharmaceutical markets, the unintended consequences of importation policies, and why U.S. consumers often pay more—yet benefit most from drug innovation. Tabarrok also critiques the FDA's role in delaying treatments and explains how regulatory reform, not price caps, could make healthcare more affordable and effective.Alex's Article, "Econ 101 is Underrated: Pharma Price Controls": Mises.org/HAP500aThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

The Myth of Fed Independence After the Treasury-Fed Accord of 1951

Play Episode Listen Later May 17, 2025


Is the Federal Reserve truly independent? Jonathan Newman uncovers the myths behind the 1951 Treasury-Fed Accord, revealing the Fed's long history as a willing financier of America's wars and government spending.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

The True History of World War II

Play Episode Listen Later May 17, 2025


Ron Unz critically reassesses the established narrative of World War II, exploring overlooked historical evidence, scholarly purges, and contested interpretations that significantly redefine our understanding of the conflict.Recorded at the Mises Institute in Auburn, Alabama, on May 17, 2025.

Resurrection of the Skyscraper Curse?

Play Episode Listen Later May 17, 2025


On Economics Explored, host Gene Tunny and guest Dr. Mark Thornton discuss the "Skyscraper Curse," the uncanny correlation between constructing the world's tallest buildings and subsequent global economic crises. Mark explains why these architectural achievements often precede financial downturns. With the resurrection of Saudi Arabia's Jeddah Tower project—destined to become the world's tallest building—set for completion around 2027, could another global economic crisis be imminent?Tune in for an eye-opening discussion that connects skyscrapers, economics, and predictions for our financial future.Additional Resources"The Skyscraper Curse and Austrian Economics with Mark Thornton" (Economics Explored Podcast with Gene Tunney): Mises.org/MI_120_AThe Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century by Mark Thornton: Mises.org/CurseAn Essay on Economic Theory by Richard Cantillon (edited by Mark Thornton): Mises.org/MI_120_BBe sure to follow Minor Issues at Mises.org/MinorIssues

The Attack on the USS Liberty

Play Episode Listen Later May 17, 2025


Phillip Tourney provides a first-hand account of the 1967 USS Liberty incident, examining its lasting implications for US foreign policy, governmental transparency, and historical accountability.Recorded at the Mises Institute in Auburn, Alabama, on May 16, 2025.

The Marshall Plan Slush Fund: Cronyism for US Exporters

Play Episode Listen Later May 16, 2025


Did the Marshall Plan save Europe or enrich crony capitalists? Patrick Newman discusses how corporate welfare, hidden deals, and corruption shaped postwar policy, with effects still felt today.Recorded at the Mises Institute in Auburn, Alabama, on May 16, 2025.

Charles Beard and American Foreign Policy

Play Episode Listen Later May 16, 2025


Historian Charles Beard championed continentalism—keeping America out of foreign wars. David Gordon explores Beard's forgotten warnings and their lasting lessons on liberty and foreign policy.Recorded at the Mises Institute in Auburn, Alabama, on May 16, 2025.

The Revisionist Economic History of the Civil War

Play Episode Listen Later May 16, 2025


Why did the South lose the Civil War? Mark Thornton argues Vicksburg—not Gettysburg—was key, revealing how Confederate economic failures sealed their fate.Recorded at the Mises Institute in Auburn, Alabama, on May 16, 2025.

Engines of Destruction in the Great War: Artillery, Society, War Finance, and the Emergence of the Total State

Play Episode Listen Later May 16, 2025


How did the state grow from Machiavelli to World War I? Hunt Tooley reveals the shocking story of how artillery, arms dealers, and bankers turned war into profitable, prolonged carnage.Recorded at the Mises Institute in Auburn, Alabama, on May 16, 2025.

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