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8 episodes with austrian business cycle theory
3 episodes with austrian business cycle theory
3 episodes with austrian business cycle theory
2 episodes with austrian business cycle theory
2 episodes with austrian business cycle theory
2 episodes with austrian business cycle theory
2 episodes with austrian business cycle theory
2 episodes with austrian business cycle theory
2 episodes with austrian business cycle theory
// GUEST //Websites: https://professorwerner.org/ and https://richardwerner.org/Substack: https://rwerner.substack.com/Book: https://www.quantumpublishers.com/index.htmlX: https://x.com/drrichardwerner and https://x.com/scientificecon // SPONSORS //The Farm at Okefenokee: https://okefarm.com/iCoin: https://icointechnology.com/breedloveHeart and Soil Supplements (use discount code BREEDLOVE): https://heartandsoil.co/In Wolf's Clothing: https://wolfnyc.com/Blockware Solutions: https://mining.blockwaresolutions.com/breedloveOn Ramp: https://onrampbitcoin.com/?grsf=breedloveMindlab Pro: https://www.mindlabpro.com/breedloveCoinbits: https://coinbits.app/breedlove // PRODUCTS I ENDORSE //Protect your mobile phone from SIM swap attacks: https://www.efani.com/breedloveNoble Protein (discount code BREEDLOVE for 15% off): https://nobleorigins.com/Lineage Provisions (use discount code BREEDLOVE): https://lineageprovisions.com/?ref=breedlove_22Colorado Craft Beef (use discount code BREEDLOVE): https://coloradocraftbeef.com/ // SUBSCRIBE TO THE CLIPS CHANNEL //https://www.youtube.com/@robertbreedloveclips2996/videos // OUTLINE //0:00 - WiM Episode Trailer1:23 - History of the USD5:46 - History of Tally Sticks11:13 - Interest Rates and Growth25:19 - The Farm at Okefenokee26:29 - iCoin Bitcoin Wallet27:59 - Central Planning and Price Fixing, We Don't Need Central Banks33:45 - The Importance of Sound Money39:52 - Heart and Soil Supplements40:52 - Helping Lightning Startups with In Wolf's Clothing41:44 - Central Planning vs Decentralized Planning51:43 - Nature to be Commanded, Must be Obeyed58:05 - Mine Bitcoin with Blockware Solutions59:31 - Onramp Bitcoin Custody1:00:54 - Has Real Capitalism Ever Been Tried?1:02:01 - The Vikings and European Civilization1:24:07 - Mind Lab Pro Supplements1:25:18 - Buy Bitcoin with Coinbits1:26:28 - The Origins of the Petrodollar1:44:42 - Closing Thoughts and Where to Find Richard // PODCAST //Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsERSS Feed: https://feeds.simplecast.com/MLdpYXYI // SUPPORT THIS CHANNEL //Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2 // SOCIAL //Breedlove X: https://x.com/Breedlove22WiM? X: https://x.com/WhatisMoneyShowLinkedin: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22Substack: https://breedlove22.substack.com/All My Current Work: https://linktr.ee/robertbreedlove
// GUEST //Websites: https://professorwerner.org/ and https://richardwerner.org/Substack: https://rwerner.substack.com/Book: https://www.quantumpublishers.com/index.htmlX: https://x.com/drrichardwerner and https://x.com/scientificecon // SPONSORS //The Farm at Okefenokee: https://okefarm.com/iCoin: https://icointechnology.com/breedloveHeart and Soil Supplements (use discount code BREEDLOVE): https://heartandsoil.co/In Wolf's Clothing: https://wolfnyc.com/Revero: https://www.revero.com/breedloveBlockware Solutions: https://mining.blockwaresolutions.com/breedloveOn Ramp: https://onrampbitcoin.com/?grsf=breedloveMindlab Pro: https://www.mindlabpro.com/breedloveCoinbits: https://coinbits.app/breedlove // PRODUCTS I ENDORSE //Protect your mobile phone from SIM swap attacks: https://www.efani.com/breedloveNoble Protein (discount code BREEDLOVE for 15% off): https://nobleorigins.com/Lineage Provisions (use discount code BREEDLOVE): https://lineageprovisions.com/?ref=breedlove_22Colorado Craft Beef (use discount code BREEDLOVE): https://coloradocraftbeef.com/ // SUBSCRIBE TO THE CLIPS CHANNEL //https://www.youtube.com/@robertbreedloveclips2996/videos // OUTLINE //0:00 - WiM Episode Trailer1:41 - What is Money?12:56 - How the Fed Bought Universities22:40 - The Farm at Okefenokee23:59 - iCoin Bitcoin Wallet25:29 - Does Money Come from Government?32:48 - What is Banking?40:39 - Heart and Soil Supplements41:39 - Helping Lightning Startups with In Wolf's Clothing42:31 - Personalize Your Health with Revero43:33 - Gold and the Birth of Modern Banking1:22:00 - Mine Bitcoin with Blockware Solutions1:23:25 - Onramp Bitcoin Custody1:25:22 - The History of Monetary Conquest1:39:56 - Austrian Business Cycle Theory1:42:24 - Mind Lab Pro Supplements1:43:35 - Buy Bitcoin with Coinbits1:45:02 - The Japanese Real Estate Bubble2:08:04 - The Moral Hazards of Central Banking2:14:55 - Are Gold and Bitcoin Solutions to Central Banking?2:22:10 - Where to Find Richard Werner // PODCAST //Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsERSS Feed: https://feeds.simplecast.com/MLdpYXYI // SUPPORT THIS CHANNEL //Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2 // SOCIAL //Breedlove X: https://x.com/Breedlove22WiM? X: https://x.com/WhatisMoneyShowLinkedin: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22Substack: https://breedlove22.substack.com/All My Current Work: https://linktr.ee/robertbreedlove
$4.7 trillion of taxpayer money has vanished, and it's just the tip of the iceberg.In this eye-opening episode, Hans and Brian dive into the ongoing revelations about government waste and corruption being exposed through "DOGE" (Department of Government Efficiency) investigations. They meticulously dissect how government agencies have operated without accountability, spending trillions in what amounts to sophisticated money laundering operations.The discussion connects these alarming discoveries to Austrian Business Cycle Theory, explaining how artificially low interest rates create unsustainable booms that inevitably lead to economic busts. By examining the parallels between this economic theory and current government spending, they reveal why a painful economic reset is both inevitable and necessary.Through practical financial wisdom, they outline how individuals can build personal financial security through proper capitalization strategies while the government continues its reckless spending habits. They make a compelling case for whole life insurance contracts as a way to both protect against economic downturns and capitalize on opportunities when they arise.➡️ Government Waste Exposed: The shocking revelations coming from the Department of Government Efficiency (DOGE) investigations, including untraceable spending, fraudulent agencies, and wasteful programs that serve no legitimate purpose.➡️ Austrian Business Cycle Theory: How artificially low interest rates create unsustainable booms followed by inevitable busts, drawing parallels between this economic theory and the current government spending situation.➡️ USAID and Money Laundering: Examination of how foreign aid often functions as a circular system that enriches U.S. corporations and politicians while impoverishing the very people it claims to help, citing examples from Belarus and African nations.➡️ Financial Protection Strategies: The importance of building personal capital reserves through whole life insurance contracts to both protect against economic downturns and capitalize on opportunities when they arise.➡️ The Coming Economic Reset: Discussion of the necessity of an economic "fever breaking" and comparison of the current situation to a forest that needs to burn away deadwood, warning listeners that financial pain is inevitable but necessary for true recovery.▶️ Chapters: 00:01- Introduction and recent interview highlights03:00 - Parallels between regenerative farming and infinite banking05:00 - Introducing the DOGE revelations and Austrian Business Cycle08:00 - Government job losses and public hypocrisy14:00 - Foreign aid as money laundering20:00 - World reserve currency maintenance through USAID22:00 - Explaining Austrian Business Cycle Theory29:00 - Military waste and budget fraud36:00 - NGOs as government extensions42:00 - The necessary economic pain ahead45:00 - Building capital reserves for economic downturnsGot Questions? Reach out to us at info@remnantfinance.com or book a call here!Visit https://remnantfinance.com for more informationFOLLOW REMNANT FINANCEYoutube: @RemnantFinance (https://www.youtube.com/@RemnantFinance)Facebook: @remnantfinance (https://www.facebook.com/profile?id=61560694316588)Twitter: @remnantfinance (https://x.com/remnantfinance)TikTok: @RemnantFinance Don't forget to hit LIKE and SUBSCRIBE
How malinvestments (investments that go against the time preference of consumers but are undertaken nevertheless) are caused by monetary policy and how they cause in return a transition from boom to bust in the economic cycle
As the Federal Reserve engineers one financial bubble after another, we are reminded that the Austrian Business Cycle Theory explains what is happening and how there is a better way. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism
As the Federal Reserve engineers one financial bubble after another, we are reminded that the Austrian Business Cycle Theory explains what is happening and how there is a better way. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism
On this episode of Radio Rothbard, Jonathan Newman joins Ryan McMaken and Tho Bishop to discuss the Mises Institute's new documentary, Playing With Fire: Money, Banking, and the Federal Reserve, and respond to some friendly critics about the continuing importance of Austrian Business Cycle Theory in the modern financial world."A Modest Proposal to End Fed Independence" by Joseph T. Salerno: https://mises.org/RR_210_A"Who Starts Business Cycles? Banks or the Fed?" by Jonathan Newman: https://mises.org/RR_210_B"The Federal Reserve and the Regime Are One and the Same" by Ryan McMaken: https://mises.org/RR_210_C"Playing With Fire – a Very Disappointing and Factually Incorrect Mises Article on Money" by Mike Shedlock: https://mises.org/RR_210_D"The Role of Shadow Banking in the Business Cycle" by Arkadiusz Sieroń: https://mises.org/RR_210_EAnatomy of the State by Murray Rothbard: https://mises.org/AnatomyGet free copies of What Has Government Done to Our Money? at https://Mises.org/RothPodFREEBe 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
On this episode of Radio Rothbard, Jonathan Newman joins Ryan McMaken and Tho Bishop to discuss the Mises Institute's new documentary, Playing With Fire: Money, Banking, and the Federal Reserve, and respond to some friendly critics about the continuing importance of Austrian Business Cycle Theory in the modern financial world."A Modest Proposal to End Fed Independence" by Joseph T. Salerno: https://mises.org/RR_210_A"Who Starts Business Cycles? Banks or the Fed?" by Jonathan Newman: https://mises.org/RR_210_B"The Federal Reserve and the Regime Are One and the Same" by Ryan McMaken: https://mises.org/RR_210_C"Playing With Fire – a Very Disappointing and Factually Incorrect Mises Article on Money" by Mike Shedlock: https://mises.org/RR_210_D"The Role of Shadow Banking in the Business Cycle" by Arkadiusz Sieroń: https://mises.org/RR_210_EAnatomy of the State by Murray Rothbard: https://mises.org/AnatomyGet free copies of What Has Government Done to Our Money? at https://Mises.org/RothPodFREEBe 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
Paul Cwik revisits the podcast to explain his new book, which aims to simplify ABCT for economics students and professors, especially those teaching at the principles level. Dr. Cwik critiques mainstream economic theories for oversimplifying business cycles, arguing that the Austrian theory better explains systemic errors and the boom-bust cycle driven by distorted interest rates.Dr. Cwik's New Book, Austrian Business Cycle Theory: An Introduction: Mises.org/HAP468aRoger Garrison's Famous Lecture, "The Austrian Theory of the Business Cycle": Mises.org/HAP468bRichard Ebeling's Monograph, The Austrian Theory of the Trade Cycle: Mises.org/HAP468cCarilli and Dempster, "Expectations in Austrian Business Cycle Theory: An Application of the Prisoner's Dilemma": Mises.org/HAP468dThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Paul Cwik revisits the podcast to explain his new book, which aims to simplify ABCT for economics students and professors, especially those teaching at the principles level. Dr. Cwik critiques mainstream economic theories for oversimplifying business cycles, arguing that the Austrian theory better explains systemic errors and the boom-bust cycle driven by distorted interest rates.Dr. Cwik's New Book, Austrian Business Cycle Theory: An Introduction: Mises.org/HAP468aRoger Garrison's Famous Lecture, "The Austrian Theory of the Business Cycle": Mises.org/HAP468bRichard Ebeling's Monograph, The Austrian Theory of the Trade Cycle: Mises.org/HAP468cCarilli and Dempster, "Expectations in Austrian Business Cycle Theory: An Application of the Prisoner's Dilemma": Mises.org/HAP468dThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
The Federal Reserve seems to have finally publicly committed to its rate-cutting cycle—specifically the federal funds rate or policy rate. The Fed wanted to remain perceived as coming to the economy's rescue, rather than goosing the stock market higher. But the Federal Reserve is playing a confidence game with the general public, and the Fed can't save you. What insights can we learn from Austrian Business Cycle Theory?"10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity" (Federal Reserve Bank of St. Louis): Mises.org/Minor_85Order a free paperback copy of Per Bylund's How to Think About the Economy at Mises.org/IssuesFree.Follow Minor Issues at Mises.org/MinorIssues.
Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstreamDr. Thornton's Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459aThe Skyscraper Curse: Mises.org/HAP459bDr. Thornton's Article From 2004 on the Housing Market: Mises.org/HAP459cThe Inverted Yield Curve from Understanding Money Mechanics: Mises.org/HAP459dBob's Econlib Article on Fiscal Austerity and Tax Rates: Mises.org/HAP459eJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The 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
Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstreamDr. Thornton's Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459aThe Skyscraper Curse: Mises.org/HAP459bDr. Thornton's Article From 2004 on the Housing Market: Mises.org/HAP459cThe Inverted Yield Curve from Understanding Money Mechanics: Mises.org/HAP459dBob's Econlib Article on Fiscal Austerity and Tax Rates: Mises.org/HAP459eJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The 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
Recorded at the Mises Institute Supporters Summit in Auburn, Alabama, 12-14 October 2023. Sponsored by Thomas and Lisa Dierl.
Chicago attorney, Brendan Cournane, leads off discussing a busy weekend in college football, the demise of the White Sox and much more. Kenny Polcari, Chief Market Strategist at SlateStone Wealth and a contributor to Fox Business, reflects on Friday's jobs number before previewing post-Summer markets. Professor of Economics, Dr. Hal Snarr, calls in to continue the jobs market […]
Thank you for watching this week's episode of the "Let People Prosper" podcast. Today, I'm honored to be joined by Dr. Bob Murphy, senior fellow with the Mises Institute, prolific author, and host of The Bob Murphy Show podcast. We discuss: 1) What's been called the "old right" vs. the "new right", where Oren Cass of the “new right” gets some things correct, and the flaws in this view's solutions to perceived market failures; 2) The Austrian Business Cycle Theory and what the Austrian School of economics tells us about current issues with inflation and interest rates; and 3) Learning from past errors in misdiagnosing economic events, theories about how the current economy will bust, and more. Check out Dr. Murphy's podcast: https://mises.org/library/bob-murphy-show If you enjoyed the show, please consider leaving a 5 star rating, a review, and sharing on social media. For show notes, thoughtful insights, media interviews, speeches, blog posts, research, and more, check out my website (https://www.vanceginn.com/) and please subscribe to my newsletter on Substack (https://vanceginn.substack.com).
Tom welcomes Rafi Farber back to the show to discuss the consequences of the debt ceiling debate. Rafi is an investor, author, and proponent of the Austrian Business Cycle. Farber discussed the possibility of flooding the market with $1 trillion worth of T-bills if a deal is passed, and the potential effects of this. He noted that similar factors were in play during the repocalypse of 2019, such as tax day and quantitative tightening, and that this current situation is worse. Farber discussed the complexity of the current banking crisis, which is the fifth largest monthly loss for the big banks in deposits ever. He believes that this is due to a combination of deposits going into money market funds, and small scale debt defaults. He also discussed the IMF's worries about the banking crisis becoming worse, and how the main difference between the 2008 banking crisis and the current one is that the Federal Reserve now owns mortgage backed securities. When asked where he saw inflation heading, Farber explained that the paradox of monetary and non-monetary forces on prices is that lower interest rates will initially drive prices down, but eventually the higher money supply will catch up and cancel out any productivity gains in the supply. This will lead to an exponential growth of money supply that will eventually be unsustainable, leading to the collapse of the banking system. Farber also discussed the weakening of global currencies, using the British pound as an example. He argued that the UK government's decision to directly finance the government deficit and hand out 70% of paychecks to citizens was "hog wild" and is now leading to a hyperinflationary spiral with food prices at 20%. He then discussed the 10-year bond being at crisis levels, as the Bank of England now owns the bonds instead of retirement funds. Farber concluded by discussing the importance of paying attention to the current state of the U.S. dollar and other currencies, and the implications this has for the future of the global economy. He argued that the only way to move beyond the skeletal remains of the Bretton Woods system is to trade in gold, but that governments don't want to do this because it's honest and they benefit from stealing. He encouraged people to stay grounded in logic and not overextend themselves, reassuring them that if they do, they will make it to the end of this game. Time Stamp References:0:00 - Introduction0:40 - Ceiling Consequences5:18 - Liquidity Issues8:06 - REPOcalypse Thoughts10:23 - Feds Balance Sheet11:53 - Banking Deposits?16:13 - Mortgage Securities19:12 - Inflation Cycles22:12 - British Pound25:49 - Inflation & Metrics28:20 - The Gold Benchmark33:40 - BRICS & The Dollar37:04 - Metal Delivery Months39:50 - Gold/Silver Ratio42:24 - Communication Speed43:54 - Wrap Up Talking Points From This Episode Defaults and deposit problems in the current banking crisis.Concerns with the Fed now owning mortgage backed securities.Governments don't want to trade in gold because it's honest and they benefit from stealing, so it's important to stay grounded in logic and not overextend oneself. Guest LinksTwitter: https://twitter.com/RafiFarberYouTube: https://www.youtube.com/@endgameinvestorArticles: https://seekingalpha.com/author/austrolib#regular_articlesNewsletter: https://seekingalpha.com/checkout?service_id=mp_1347 Rafi Farber invests based on the Austrian Business Cycle Theory and covers economic trends for timing the credit cycle. His marketplace service, The Libertarian Investor, helps subscribers manage the risks and profit from the ongoing fiscal and monetary crisis precipitated by the COVID-19 pandemic. His approach uses gold, silver, and associated stocks and investment vehicles as a low-risk, high-return methodology.
What is a business cycle ? The role of money. The unhampered economy. The hampered economy
I have discussed both of these topics in the distant past, but I felt the need to spend some new time on both of these important understandings in economics. Being economically literate can help you A LOT in business. Be strong among the weak.What is malinvestment? What is a business cycle?Could business cycles be smaller?What creates booms and busts?What creates massive growth with periods of massive recession?AND MOST IMPORTANTLY... What can we expect as thoughtful, intelligent, and unlobotomized entrepreneurs? All of this, today, on KKRS. https://wiki.mises.org/wiki/Austrian_business_cycle_theoryhttps://wiki.mises.org/wiki/MalinvestmentText KKRS to: 713-528-8219Telegram Community: https://t.me/killbiggerTwitter: https://twitter.com/kylekeeganradioCheck out https://keeganradio.comJoin the discussion at https://www.thefastlaneforum.com/community/threads/kaks-kill-bigger-radio-show.95326/ DISCLAIMER! I am NOT your financial advisor or business consultant. Do YOUR OWN research. I advocate heavily that you should make intelligent and informed decisions based on YOUR OWN understanding or hire someone that does this for you. Don't take me out of context and make dumb decisions. Always consider YOUR OWN SITUATION before implementing strategies shared on KKRS. When in doubt, remember Kyle is conservative and will always choose to live another day over imprudent “YOLO” decisions. The Kyle Keegan Radio Show and iTalk Media Network™️ are © Atlas Southwest LLC.
I explain the ABCT again AlexMerced.com
I explain the ABCT again AlexMerced.com --- Support this podcast: https://anchor.fm/alexmerced/support
The Alex Merced Cast - Libertarianism, Blockchain and Economics
I explain the ABCT againAlexMerced.comSupport the show (http://www.patreon.com/alexmerced)
In this epsisode Saifedean talks to economist and investor Lyn Alden about her views on the global macroeconomy. They start by discussing recent market turbulence in light of the Federal Reserve's plans to tighten monetary policy, whether these plans are realisable, and what this will mean for consumer price inflation and the stock market. They then move on to a discussion of Lyn's portfolio, her reasons for allocation across particular industries, and why she holds shares in silver mining companies. In the Q&A Lyn answers questions about whether we can trust the Federal Reserve and how she uses the Austrian School economic framework to inform her thinking on investment.Resources:Lyn on TwitterLyn's 2020 article 3 Reasons I'm Investing in BitcoinLyn's January 2022 Newsletter The Capital Sponge for a discussion of recent developments in the US stock market with historical context (includes a breakdown of her model portfolio).A Tiger by the Tail by F.A. Hayek for a discussion of the Keynesian legacy of inflationGold Wars by Ferdinand Lips for an account of Switerland's abandonment of the gold standard.The Fourth Turning: An American Prophecy by William Strauss and Neil HoweAmerica's Great Depression by Murray N. Rothbard. See pages 3-80 for Rothbard's explanation of Austrian Business Cycle Theory.Lyn's last appearance on The Bitcoin Standard Podcast in May 2022Lyn's critique of Nassim Taleb's Bitcoin Black PaperSaifedean's first book, The Bitcoin StandardSaifedean's second book, The Fiat Standard
Using a recent Paul Krugman column as the jumping off point, the Mises Institute Academic Vice President Joe Salerno explains and defends Austrian business cycle theory. Mentioned in the Episode and Other Links of Interest: The YouTube version of this interviewBob's response to Krugman's NYT pieceJoe Salerno's 2012 QJAE article responding to ABCT criticsJoe Salerno's previous appearance on the Bob Murphy Show ep. 16Bob's critique of Selgin on Canadian fractional reserve banking For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.
Using a recent Paul Krugman column as the jumping off point, the Mises Institute Academic Vice President Joe Salerno explains and defends Austrian business cycle theory. Mentioned in the Episode and Other Links of Interest: The YouTube version of this interviewBob's response to Krugman's NYT pieceJoe Salerno's 2012 QJAE article responding to ABCT criticsJoe Salerno's previous appearance on the Bob Murphy Show ep. 16Bob's critique of Selgin on Canadian fractional reserve banking For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.
Tom welcomes Rafi Farber back to the show. Rafi is an investor, author, and proponent of the Austrian Business Cycle. Rafi discusses how to keep sane with short-term price movement in gold. There are times when investments fail to behave how you would expect. This is why it's important to keep cash on hand since you need to be able to buy the dip. You need emotional stability. Eventually, there will be another liquidity crisis and the Fed will likely intervene once again. There has been some exhaustion seen in miners, particularly Newmont and Barrick. Most commodities are seeing shortages and higher prices. So far higher prices haven't corrected these supply issues. When people understand that their wealth is being taken from them through inflation they will change their behavior. This is when the currency begins dying and shortages begin to occur. Everyone's inflation rates are different because they use a different basket of goods. All the experts have different definitions and levels for hyperinflation. Rafi argues that hyperinflation should be defined as when people become reluctant to hold a currency. During these times prices can't compensate fast enough. Growth in the money supply has become quite high over the last year. Recently, that rate has come way down although it's still seasonally high. Some of that supply appears to have entered the equity markets and it's difficult to track where these flows into equities. The recent resignation of two Fed presidents demonstrates these people aren't clean. There almost all involved in equities and he questions why these two individuals were singled out. Rafi outlines Milton Friedman's pencil analogy which demonstrates the complexities of free markets. We are seeing a contraction in the industry for various reasons like emission standards. Lastly, Rafi discusses his ongoing experiment to take delivery of a silver bar via a futures contract. Time Stamp References:0:00 - Introduction0:35 - Gold Price Action4:12 - Selling Exhaustion6:10 - Gold to Commodities10:36 - Dollar Sickness13:15 - Defining Hyperinflation17:00 - Backwardation20:18 - Expectations & Spending21:13 - Money Supply Growth24:10 - Fed Resignations26:48 - Pencil Analogy30:53 - Taking Silver Delivery33:43 - Concluding Thoughts35:12 - Wrap Up Talking Points From This Episode Keeping sane in an insane economic world.Commodities and supply shortages.Defining hyperinflation as a loss of confidence.Fed resignations and the complexities of markets. Guest LinksTwitter: https://twitter.com/RafiFarberArticles: https://seekingalpha.com/author/austrolib#regular_articlesNewsletter: https://seekingalpha.com/checkout?service_id=mp_1347 Rafi Farber invests based on the Austrian Business Cycle Theory and covers economic trends for timing the credit cycle. His marketplace service, The Libertarian Investor, helps subscribers manage the risks and profit from the ongoing fiscal and monetary crisis precipitated by the COVID-19 pandemic. His approach uses gold, silver, and associated stocks and investment vehicles as a low-risk, high-return methodology.
Using a recent Paul Krugman column as the jumping off point, the Mises Institute Academic Vice President Joe Salerno explains and defends Austrian business cycle theory. Mentioned in the Episode and Other Links of Interest: The https://www.youtube.com/watch?v=VgGFi9vtEK8 (YouTube version) of this interview. https://mises.org/wire/rebutting-paul-krugman-austrian-pandemic (Bob's response) to Krugman's NYT https://www.nytimes.com/2021/09/03/opinion/covid-recession-austrian-school-hayek.html (piece). Joe https://mises.org/library/reformulation-austrian-business-cycle-theory-light-financial-crisis-0 (Salerno's 2012 QJAE article) responding to ABCT critics. Joe Salerno's previous appearance on the https://www.bobmurphyshow.com/episodes/ep-16-joe-salerno-on-economic-calculation-fractional-reserve/ (Bob Murphy Show ep. 16.) https://youtu.be/3nG2G9uH218?t=372 (Bob's critique of Selgin) on Canadian fractional reserve banking. http://bobmurphyshow.com/contribute (Help support) the Bob Murphy Show. The audio production for this episode was provided by http://podsworth.com/ (Podsworth Media).
Entrepreneurs are developing a new world of innovative business models far from regulated markets, crony capitalism, and corporate control. It's a new world of cyber security, free software, value-for-value exchange, integrated with bitcoin. Max Hillebrand operates in this new world, and he shares both his vision and his expertise on the Economics For Business podcast. Key Takeaways and Actionable Insights The praxeology of cyberspace. Praxeology is timeless, with equal application in this era of cyberspace and the internet as in any other era. Individuals are in a state of unease, and they can perceive a better future in which their unease is relieved. They allocate resources to achieve that end. Those resources can be scarce or non-scarce. Non-scarce goods are non-rivalrous; I can share them with you and not give them up for myself. Information goods are non-scarce. They are patterns of words and symbols that can be shared. This is the world of free software. It's also the world of cyber security. Cryptography is just a math formula. If I wish to express myself freely to one other person or a small group of people, I can enable my non-scarce expression for only that small group, giving them the private key to decrypt the message. The value of free software: scratch your own itch. A growing cadre and movement of internet entrepreneurs is engaged in the preparation and distribution of free software. Free doesn't mean it's not valuable. New technologies and new free software are created to solve customer problems more efficiently and more effectively. One of the beautiful attributes of free software is that it is open to user contribution — anyone who can read the software can change the software and publish those changes, so that future users can enjoy an even better experience. Everyone in the free software community — producers and consumers — is incentivized to ensure that the tools that they all use are running at their best. This is sometimes referred to as the “scratch your own itch” ethos. The creators of the software are also the users of the software. Customers know the problems that they want to have solved, and give the ultimate feedback of fixing it themselves. Free software in business. Producers of free software create the highest quality technology tools. Entrepreneurs looking for the best technology have an incentive to seek out these producers and their products. There is no lack of demand. How do the producers get paid for their development efforts? One way is via a service exchange. Users of free software often like to add customization, personalization and locally specific integration features to free software that they use. Producers can be contracted and compensated for these customization services. Red Hat followed this business model of servicing Linux users all the way to a $US34 billion valuation in an acquisition transaction with IBM. Value-for-value exchange: a new business model? The second way to get revenue from free software production is via donations — users recognize the value of the experience of using the product and voluntarily send payment to the producer, even though no “price” was asked. This emergent concept of voluntary payments made for freely distributed valuable content and products is beginning to bloom into a new form of exchange, which has been given the name of the value-for-value (VFV) model. It's especially prevalent on the blockchain and on bitcoin networks. Take a freely distributed podcast as an example. The producer can put a Bitcoin lightning network public key in the RSS feed and listeners can voluntarily send any amount of bitcoin back for every minute they are listening to the podcast. This happens automatically in the background when the listener hits Play and stops when he or she hits Pause or Stop. One-time payments can be made as well, if preferred. Payment can be boosted if the listener here's something they deem especially valuable to them and wish to extend an extra reward. It's the ultimate market feedback mechanism. Bitcoin as free software Bitcoin is another tool of cyberspace, engineered and designed to solve the problem of money. Many innovators over time have made attempts to create digital money to make internet transactions fast, infinitely cheap, stable and private. But none of the attempt, until bitcoin, were able to solve the problem of verification of transactions and enforcement of rules without a trusted third party. Bitcoin solves the important problems, not just of verification but of “who verifies?” Verification is always and ultimately human. Bitcoin entrains entrepreneurs who download the bitcoin software and confirm they are running the agreed monetary rules on their own hardware. When another entrepreneur connects and asks for rules-based verifications of valid transactions, bitcoin merchants on the network are running the software and checking the transactions of others. They are entrepreneurs producing verification according to established and agreed rules. It's an entrepreneurial merchant network. Get paid in bitcoin, hold bitcoin, invest with bitcoin. Max emphasizes 3 aspects of the bitcoin enabled life that can insulate and protect entrepreneurs from the inflationary fiat future. Get paid in bitcoin To get paid in bitcoin means to have a “censorship resistant” method of receiving payment from customers. People who do not have access to a bank account can become entrepreneurs. People whose bank accounts might get shut down can remain entrepreneurs. Anyone who fears for the future of the fiat system can insulate themselves against future payment system uncertainty. Hold cash reserves in bitcoin Saving should mean holding an asset without counterparty risk. Bitcoin serves that purpose — it's counterparty risk-free money. Holding a reserve without counterparty risk frees the individual to make a trade with an entrepreneur at any time in the future. There I no risk of inflation. Your saving can't be diluted. Denominate your contracts in bitcoin When more and more entrepreneurs denominate their contracts in bitcoin, a stable monetary asset that cannot be inflated, the detrimental cycles identified by Austrian Business Cycle Theory can be eliminated. This is the exciting long term prospect of bitcoin. It may be a long path, and it will take time and courage to complete the journey, but it is possible. There are entrepreneurs today (Max is one) who get paid exclusively in bitcoin and hold their cash reserve in bitcoin. Additional Resources Max's website: TowardsLiberty.com Some examples of free software tools: btcpayserver.orgwasabiwallet.iovalue4value.io Professor Mohammad Keyhani's Entrepreneur Tools: Mises.org/E4B_136_Tools Cryptoeconomics: Fundamental Principles of Bitcoin by Eric Voskuil: Mises.org/E4B_136_Book
Entrepreneurs are developing a new world of innovative business models far from regulated markets, crony capitalism, and corporate control. It's a new world of cyber security, free software, value-for-value exchange, integrated with bitcoin. Max Hillebrand operates in this new world, and he shares both his vision and his expertise on the Economics For Business podcast. Key Takeaways and Actionable Insights The praxeology of cyberspace. Praxeology is timeless, with equal application in this era of cyberspace and the internet as in any other era. Individuals are in a state of unease, and they can perceive a better future in which their unease is relieved. They allocate resources to achieve that end. Those resources can be scarce or non-scarce. Non-scarce goods are non-rivalrous; I can share them with you and not give them up for myself. Information goods are non-scarce. They are patterns of words and symbols that can be shared. This is the world of free software. It's also the world of cyber security. Cryptography is just a math formula. If I wish to express myself freely to one other person or a small group of people, I can enable my non-scarce expression for only that small group, giving them the private key to decrypt the message. The value of free software: scratch your own itch. A growing cadre and movement of internet entrepreneurs is engaged in the preparation and distribution of free software. Free doesn't mean it's not valuable. New technologies and new free software are created to solve customer problems more efficiently and more effectively. One of the beautiful attributes of free software is that it is open to user contribution — anyone who can read the software can change the software and publish those changes, so that future users can enjoy an even better experience. Everyone in the free software community — producers and consumers — is incentivized to ensure that the tools that they all use are running at their best. This is sometimes referred to as the “scratch your own itch” ethos. The creators of the software are also the users of the software. Customers know the problems that they want to have solved, and give the ultimate feedback of fixing it themselves. Free software in business. Producers of free software create the highest quality technology tools. Entrepreneurs looking for the best technology have an incentive to seek out these producers and their products. There is no lack of demand. How do the producers get paid for their development efforts? One way is via a service exchange. Users of free software often like to add customization, personalization and locally specific integration features to free software that they use. Producers can be contracted and compensated for these customization services. Red Hat followed this business model of servicing Linux users all the way to a $US34 billion valuation in an acquisition transaction with IBM. Value-for-value exchange: a new business model? The second way to get revenue from free software production is via donations — users recognize the value of the experience of using the product and voluntarily send payment to the producer, even though no “price” was asked. This emergent concept of voluntary payments made for freely distributed valuable content and products is beginning to bloom into a new form of exchange, which has been given the name of the value-for-value (VFV) model. It's especially prevalent on the blockchain and on bitcoin networks. Take a freely distributed podcast as an example. The producer can put a Bitcoin lightning network public key in the RSS feed and listeners can voluntarily send any amount of bitcoin back for every minute they are listening to the podcast. This happens automatically in the background when the listener hits Play and stops when he or she hits Pause or Stop. One-time payments can be made as well, if preferred. Payment can be boosted if the listener here's something they deem especially valuable to them and wish to extend an extra reward. It's the ultimate market feedback mechanism. Bitcoin as free software Bitcoin is another tool of cyberspace, engineered and designed to solve the problem of money. Many innovators over time have made attempts to create digital money to make internet transactions fast, infinitely cheap, stable and private. But none of the attempt, until bitcoin, were able to solve the problem of verification of transactions and enforcement of rules without a trusted third party. Bitcoin solves the important problems, not just of verification but of “who verifies?” Verification is always and ultimately human. Bitcoin entrains entrepreneurs who download the bitcoin software and confirm they are running the agreed monetary rules on their own hardware. When another entrepreneur connects and asks for rules-based verifications of valid transactions, bitcoin merchants on the network are running the software and checking the transactions of others. They are entrepreneurs producing verification according to established and agreed rules. It's an entrepreneurial merchant network. Get paid in bitcoin, hold bitcoin, invest with bitcoin. Max emphasizes 3 aspects of the bitcoin enabled life that can insulate and protect entrepreneurs from the inflationary fiat future. Get paid in bitcoin To get paid in bitcoin means to have a “censorship resistant” method of receiving payment from customers. People who do not have access to a bank account can become entrepreneurs. People whose bank accounts might get shut down can remain entrepreneurs. Anyone who fears for the future of the fiat system can insulate themselves against future payment system uncertainty. Hold cash reserves in bitcoin Saving should mean holding an asset without counterparty risk. Bitcoin serves that purpose — it's counterparty risk-free money. Holding a reserve without counterparty risk frees the individual to make a trade with an entrepreneur at any time in the future. There I no risk of inflation. Your saving can't be diluted. Denominate your contracts in bitcoin When more and more entrepreneurs denominate their contracts in bitcoin, a stable monetary asset that cannot be inflated, the detrimental cycles identified by Austrian Business Cycle Theory can be eliminated. This is the exciting long term prospect of bitcoin. It may be a long path, and it will take time and courage to complete the journey, but it is possible. There are entrepreneurs today (Max is one) who get paid exclusively in bitcoin and hold their cash reserve in bitcoin. Additional Resources Max's website: TowardsLiberty.com Some examples of free software tools: btcpayserver.orgwasabiwallet.iovalue4value.io Professor Mohammad Keyhani's Entrepreneur Tools: Mises.org/E4B_136_Tools Cryptoeconomics: Fundamental Principles of Bitcoin by Eric Voskuil: Mises.org/E4B_136_Book
Entrepreneurs are developing a new world of innovative business models far from regulated markets, crony capitalism, and corporate control. It's a new world of cyber security, free software, value-for-value exchange, integrated with bitcoin. Max Hillebrand operates in this new world, and he shares both his vision and his expertise on the Economics For Business podcast. Key Takeaways and Actionable Insights The praxeology of cyberspace. Praxeology is timeless, with equal application in this era of cyberspace and the internet as in any other era. Individuals are in a state of unease, and they can perceive a better future in which their unease is relieved. They allocate resources to achieve that end. Those resources can be scarce or non-scarce. Non-scarce goods are non-rivalrous; I can share them with you and not give them up for myself. Information goods are non-scarce. They are patterns of words and symbols that can be shared. This is the world of free software. It's also the world of cyber security. Cryptography is just a math formula. If I wish to express myself freely to one other person or a small group of people, I can enable my non-scarce expression for only that small group, giving them the private key to decrypt the message. The value of free software: scratch your own itch. A growing cadre and movement of internet entrepreneurs is engaged in the preparation and distribution of free software. Free doesn't mean it's not valuable. New technologies and new free software are created to solve customer problems more efficiently and more effectively. One of the beautiful attributes of free software is that it is open to user contribution — anyone who can read the software can change the software and publish those changes, so that future users can enjoy an even better experience. Everyone in the free software community — producers and consumers — is incentivized to ensure that the tools that they all use are running at their best. This is sometimes referred to as the “scratch your own itch” ethos. The creators of the software are also the users of the software. Customers know the problems that they want to have solved, and give the ultimate feedback of fixing it themselves. Free software in business. Producers of free software create the highest quality technology tools. Entrepreneurs looking for the best technology have an incentive to seek out these producers and their products. There is no lack of demand. How do the producers get paid for their development efforts? One way is via a service exchange. Users of free software often like to add customization, personalization and locally specific integration features to free software that they use. Producers can be contracted and compensated for these customization services. Red Hat followed this business model of servicing Linux users all the way to a $US34 billion valuation in an acquisition transaction with IBM. Value-for-value exchange: a new business model? The second way to get revenue from free software production is via donations — users recognize the value of the experience of using the product and voluntarily send payment to the producer, even though no “price” was asked. This emergent concept of voluntary payments made for freely distributed valuable content and products is beginning to bloom into a new form of exchange, which has been given the name of the value-for-value (VFV) model. It's especially prevalent on the blockchain and on bitcoin networks. Take a freely distributed podcast as an example. The producer can put a Bitcoin lightning network public key in the RSS feed and listeners can voluntarily send any amount of bitcoin back for every minute they are listening to the podcast. This happens automatically in the background when the listener hits Play and stops when he or she hits Pause or Stop. One-time payments can be made as well, if preferred. Payment can be boosted if the listener here's something they deem especially valuable to them and wish to extend an extra reward. It's the ultimate market feedback mechanism. Bitcoin as free software Bitcoin is another tool of cyberspace, engineered and designed to solve the problem of money. Many innovators over time have made attempts to create digital money to make internet transactions fast, infinitely cheap, stable and private. But none of the attempt, until bitcoin, were able to solve the problem of verification of transactions and enforcement of rules without a trusted third party. Bitcoin solves the important problems, not just of verification but of “who verifies?” Verification is always and ultimately human. Bitcoin entrains entrepreneurs who download the bitcoin software and confirm they are running the agreed monetary rules on their own hardware. When another entrepreneur connects and asks for rules-based verifications of valid transactions, bitcoin merchants on the network are running the software and checking the transactions of others. They are entrepreneurs producing verification according to established and agreed rules. It's an entrepreneurial merchant network. Get paid in bitcoin, hold bitcoin, invest with bitcoin. Max emphasizes 3 aspects of the bitcoin enabled life that can insulate and protect entrepreneurs from the inflationary fiat future. Get paid in bitcoin To get paid in bitcoin means to have a “censorship resistant” method of receiving payment from customers. People who do not have access to a bank account can become entrepreneurs. People whose bank accounts might get shut down can remain entrepreneurs. Anyone who fears for the future of the fiat system can insulate themselves against future payment system uncertainty. Hold cash reserves in bitcoin Saving should mean holding an asset without counterparty risk. Bitcoin serves that purpose — it's counterparty risk-free money. Holding a reserve without counterparty risk frees the individual to make a trade with an entrepreneur at any time in the future. There I no risk of inflation. Your saving can't be diluted. Denominate your contracts in bitcoin When more and more entrepreneurs denominate their contracts in bitcoin, a stable monetary asset that cannot be inflated, the detrimental cycles identified by Austrian Business Cycle Theory can be eliminated. This is the exciting long term prospect of bitcoin. It may be a long path, and it will take time and courage to complete the journey, but it is possible. There are entrepreneurs today (Max is one) who get paid exclusively in bitcoin and hold their cash reserve in bitcoin. Additional Resources Max's website: TowardsLiberty.com Some examples of free software tools: btcpayserver.orgwasabiwallet.iovalue4value.io Professor Mohammad Keyhani's Entrepreneur Tools: Mises.org/E4B_136_Tools Cryptoeconomics: Fundamental Principles of Bitcoin by Eric Voskuil: Mises.org/E4B_136_Book
In this episode Saifedean talks to regular seminar attendees about some common criticisms of hard money made by inflationist economists, and why these criticisms represent a misunderstanding of why recessions happen and how they are resolved. The conversation touches on the reluctance of mainstream economists to address the causes of The Great Depression, why they mistakenly attribute its length to the inflexibility of the gold standard, and how Austrian Business Cycle Theory provides the only coherent explanation for what happened. Saifedean draws parallels between these criticisms and popular hard money criticisms of bitcoin to show why they are also mistaken.
In this episode, we look at the root cause of the boom/bust cycle. In general, Austrian Business Cycle Theory holds that an increase in money causes the market interest rate to deviate from the natural rate, which sets in motion the boom/bust cycle. However, this would mean that gold mining could trigger a boom/bust as well. As you may imagine, we have to dig a little deeper than that. Frank Shostak's Article: https://mises.org/wire/sound-money-versus-fiat-money-effects-boom-bust-cycle
Tom welcomes Rafi Farber back to the show. Rafi is an investor, author, and proponent of the Austrian Business Cycle. Rafi discusses his recent article on money as a gold substitute where he defines the meaning of sound and hard monies. Money needs to be predictable in what it measures and have a predictable supply. Debt substitutes and paper promises become problematic over time, and the entire system becomes unbalanced. These imbalances cause price and supply disruptions across sectors, including commodities like mining. He argues that governments can't decree value into a fiat currency. Money has value because supply and demand create a benchmark for price. He explains the regression theorem of money and how money derives its initial value. There was no original plan for gold to become money; it likely naturally evolved over time due to making trade easier. Later, gold storage and paper receipts became problematic when more receipts than gold in the vault were created. The reason for the roaring twenties was the increase in the money supply. Money must be tied to the origin point of all transactions, and it must reference the past. He explains the dollar supply and gold problems, which occurred in 1933 and again in 1971. The link to gold kept the dollar system functioning even though money printing continued throughout that period. Nixon acknowledged the problems in the system by closing the gold window. That was more honest than claiming to maintain gold at $35 an ounce. The US dollar can still buy gold, which is the same reason it can buy anything. When a currency is no longer capable of buying gold, that is the end. Rafi estimates the price of gold if we returned to a gold standard. Our job is to demonetize the dollar standard so that we return to honest money. Bitcoin is also a substitute for gold and not equivalent. Essentially, the dollar is a very poor, overly inflated, and mispriced substitute for gold. Time Stamp References:0:00 - Introduction0:36 - Defining Money9:32 - Currency Vs. Money10:45 - 1934 and 197116:18 - Gold & Money Supply19:19 - Inflation & Meltdown23:14 - Gold Substitutes27:30 - Valuing Bitcoin28:56 - PMs & The Dollar30:44 - Bank - Manipulation33:00 - ETFs & Unallocated34:50 - MMT, UBI, & Wealth Gap37:08 - Concluding Thoughts40:06 - Wrap Up Talking Points From This Episode Gold Vs. Gold Substitutes.Inflation and metals manipulation.Silver as a monetary metal.Valuing Bitcoin in terms of gold. Guest LinksTwitter: https://twitter.com/RafiFarberArticle: https://seekingalpha.com/article/4419042-gold-is-money-dollar-is-gold-substitute-and-fiat-currency-is-impossibleArticles: https://seekingalpha.com/author/austrolib#regular_articlesNewsletter: https://seekingalpha.com/checkout?service_id=mp_1347 Rafi Farber invests based on the Austrian Business Cycle Theory and covers economic trends for timing the credit cycle. His marketplace service, The Libertarian Investor, helps subscribers manage the risks and profit from the ongoing fiscal and monetary crisis precipitated by the COVID-19 pandemic. His approach uses gold, silver, and associated stocks and investment vehicles as a low-risk, high-return methodology.
In this week's podcast, I discuss the financialisation of markets and the extremely detrimental effects that this has had upon the real, productive economy. I go over some of the academic reasons offered up for the "crowding out" of the productive sectors of the economy by the financial sector, and the dangers that this poses based on historical evidence. Then I discuss the reason why we see this happening through the lens of Austrian Business Cycle Theory and show how central banks have lowered interest rates to the point where it actually makes complete sense for companies to jack up their share prices artificially. Finally, I talk about the ways in which this madness will end - i.e. very, very badly. Be sure to like, share, comment, and subscribe to the podcast - and be sure to sign up for my email list if you have not done so already. Protect Yourself From Big Tech As I state in the opening of the podcast, you MUST take steps to protect yourself from the Big Tech companies. Start here with this post. Here are the specific steps that you can take: Make sure that your web traffic is safe and protected from prying eyes using a VPN - click here to get a massive 81% OFF on a 24-month subscription with Surfshark, the best-value VPN client out there today; If you want something a bit simpler with fewer bells and whistles, subscribe to GooseVPN here; Start building your own platforms: Get yourself a proper domain for your site or business with Namecheap; Put your site onto a shared hosting service using A2Hosting for the fastest, most secure, and stable hosting platform around; Create beautiful websites with amazing, feature-rich content using Divi from Elegant Themes; Book References The Mars Trilogy by Kim Stanley Robinson: Red Mars Green Mars Blue Mars Readings on Austrian Business Cycle Theory: Austrian School Business Cycle Theory by Murray N. Rothbard; The Theory of Money and Credit by Ludwig von Mises; The Big Short: Inside the Doomsday Machine by Michael Lewis; Video References The Big Short (film) Margin Call (film) "The Mystery of the Origin of Life" - lecture at the Discovery Science Institute by Dr. James Tour
Jay and Porter sit down to talk about the ABCT, explaining the theory and how it has applied to the real world before and now. - Follow us on Twitter: @insurrectionpod @peaceful_slave @mindyourexcuses - Follow us on Instagram: @insurrection.inc @peaceful.slavery @mind_your_excuses - Join our Discord: https://discord.gg/YRPr8tw - Check out our writing at cottonreport.com --- Send in a voice message: https://anchor.fm/insurrection-inc/message
First off, what are you doing?! Have you joined my daily email list where you get commentary on the ideas & news of the day relevant to liberty, veterans, and entrepreneurship. Go To CashFlowVeteran.com, Download My Ebook, and Sign Up For A Daily Dose Of Awesome! **************************** CFV Episode 7: What is more important? The US Economy or Your personal Economy What does that even mean? People talk constantly about the stock market as if it IS the economy… It's not but treated like it is It's a lie. It's only an indicator and a bad indicator at that bc it is constantly manipulated, inflated, and used as a means of socializing losses. It's where the wealthy, well-connected transfer wealth from the middle and lower economic classes. I will be working on a more thorough analysis of this eventually from the context of TSP, Blended Retirement System, in another series of podcasts, articles and an ebook. It'll be an application of the Austrian Business Cycle Theory to government contractors, the DoD, retirement, the finances of the medical system. All the benefits of military membership while simultaneously eroding the financial structure our country is based on…and NO, our current monetary system is not a Free-market or capitalism per se. As always, I love question and constructive debate, so reach out at Cashflowveteran.com or on any of my social media channels below. ************* CFV Links: Website: https://cashflowveteran.com/ -- Join My Daily Email List Facebook: @CashFlowVeteran Twitter: @CashFlowVeteran Youtube: Cash Flow Veteran ************* Affiliate Links To Support The Show https://www.amf-usa.org/contact -- Let Him Know I Sent You -- DNA Test through Brandon Grone (Rep With IDLife) https://cashflowveteran.com/libertyclassroom -- Tom Woods' Liberty Classroom https://cashflowveteran.com/marketingdna -- Perry Marshall's Marketing DNA Test/Index Affiliate Disclosure: I earn an income when you click and buy through these links. You don't have to, but affiliate links are the primary way for me to fund my show! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/cashflowveteran/message
Karen Rands is an economist by training and passion. In March 2019 she interviewed Dr. Mark Thornton of the Mises Institute at Auburn about his book The Skyscraper Curse and discussed the factor leading to his prediction, based on Austrian Business Cycle Theory, of an economic collapse in 2020. In the middle of a pandemic, extreme civil unrest, extremists bent on destruction, we find ourselves in the beginning of what many predict as the greatest economic collapse since the Great Depression. Dr. Thornton joins Karen on the Compassionate Capitalist Podcast show to discuss the cause and triggers of this economic collapse and ideas for how we will create an economic recovery. Will cannabis be the holy grail to solve our problems at multiple levels? Free Resources from Dr. Thornton and the Mises Institute: Bust Wasn't Called by the Virus: https://mises.org/wire/bust-wasnt-caused-virus Economics of Prohibition: https://mises.org/library/economics-prohibition-0 Prior Podcast from 2019: http://bit.ly/CCRadio-sckyscraper Watch this video interview version: https://youtu.be/Kbn931hYQQA Dr. Mark Thornton is senior fellow at Ludwig von Mises Institute. He is the author of numerous economic theory books and frequent speaker. Learn more and contact Dr. Thornton at: https://mises.org/profile/mark-thornton Karen Rands is the author of the best selling finance education book: Inside Secrets to Angel Investing, and the founder of the Compassionate Capitalist Movement. She is a trusted advisor to entrepreneurs and investors. Learn more at : http://karenrands.co
Karen Rands is an economist by training and passion. In March 2019 she interviewed Dr. Mark Thornton of the Mises Institute at Auburn about his book The Skyscraper Curse and discussed the factor leading to his prediction, based on Austrian Business Cycle Theory, of an economic collapse in 2020. In the middle of a pandemic, extreme civil unrest, extremists bent on destruction, we find ourselves in the beginning of what many predict as the greatest economic collapse since the Great Depression. Dr. Thornton joins Karen on the Compassionate Capitalist Podcast show to discuss the cause and triggers of this economic collapse and ideas for how we will create an economic recovery. Will cannabis be the holy grail to solve our problems at multiple levels? Free Resources from Dr. Thornton and the Mises Institute: Bust Wasn't Called by the Virus: https://mises.org/wire/bust-wasnt-caused-virus Economics of Prohibition: https://mises.org/library/economics-prohibition-0 Prior Podcast from 2019: http://bit.ly/CCRadio-sckyscraper Watch this video interview version: https://youtu.be/Kbn931hYQQA Dr. Mark Thornton is senior fellow at Ludwig von Mises Institute. He is the author of numerous economic theory books and frequent speaker. Learn more and contact Dr. Thornton at: https://mises.org/profile/mark-thornton Karen Rands is the author of the best selling finance education book: Inside Secrets to Angel Investing, and the founder of the Compassionate Capitalist Movement. She is a trusted advisor to entrepreneurs and investors. Learn more at : http://karenrands.co
I use Austrian Business Cycle Theory to explain how central bank inflation has destroyed the US dollar. I talk about what we can expect economically, socially & politically in the near future. We also cover how agorists are preparing, using my favorite manta - gold, guns & a getaway!
Rick Rule is CEO at Sprott US Holdings. His lifetime focus on natural resources finance enabled him to carve a unique pathway to entrepreneurial success. Like many entrepreneurial journeys, Rick's had some twists and turns. Here are some of the key stages. Key Takeaways and Actionable Insights Find out early what you love. Rick enjoyed the outdoors, nature and therefore natural resources, the associated science of efficient and effective use of natural resources, and finance. All of us have a combination of likes and preferences that may stimulate us but may not initially appear to present us with an entrepreneurial recipe. But as Curt Carlson explained in Episode #34, combining knowledge from different people and fields can result in compounding insights. Combine Knowledge in New Ways. Rick combined natural resource science with principles of corporate finance, specifically debt and equity finance for extractive industries. As a result of the special properties of natural resource markets, and firms' needs for customized financing, an opportunity niche emerged. Rick's application of his special combination of knowledge placed him in a competitively advantaged position. Learn By (Hard) Experience. Rick learned not to confuse a bull market with brains, as he puts it. He did business through a complete commodity market cycle in the 1970s through the early 80s, experiencing volatility and ups and downs first hand. Theory is no substitute for experience. Nevertheless, his knowledge of Austrian Business Cycle Theory, Austrian Price Theory (“the cure for high prices is high prices, and the cure for low prices is low prices”) granted him a superior perspective in interpreting market signals. Develop Deep Market and Customer Understanding. In his focus market, Rick developed a business segmentation that focused on participant firms of a defined size (
(https://www.bobmurphyshow.com/wp-content/uploads/2019/09/cachanosky.jpg) Economist Nicolas Cachanosky specializes in the overlap between capital theory in traditional economics and the capitalization of cash flows in finance. He explains the relevance of these concepts to understanding the business cycle. Then Nicolas and Bob have a friendly disagreement over Mises’ views on fractional reserve banking. The conversation closes with Nicolas’ view on central banking policy since the financial crisis of 2008. . . . . . . . . Mentioned in the Episode and Other Links of Interest: Nicolas Cachanosky’s CV (http://www.ncachanosky.com/cv.html) , which contains citations to all of the articles discussed. Peter Lewin’s book (https://www.amazon.com/gp/product/B000FBFI0G/ref=as_li_tl?ie=UTF8&tag=consultingbyr-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B000FBFI0G&linkId=5f1b233898ed03d7a1a79f3049b27fd1) . Bob’s Mises.org articles on not getting their dimensions (https://mises.org/ko/wire/mainstream-economists-don%E2%80%99t-even-get-their-dimensions-right) right. The Bob Murphy Show episode 48 (https://www.bobmurphyshow.com/ep-48-bob-explains-the-highlights-of-his-new-qjae-article-on-frb/) , in which Bob discusses his new QJAE paper on the FRB debate. How you can contribute (http://bobmurphyshow.com/contribute) to the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media (https://www.podsworth.com/) .
(https://www.bobmurphyshow.com/wp-content/uploads/2019/09/3M-and-10Y-yields.png) Bob goes solo to give a quick explanation of the Mises-Hayek theory of the boom-bust cycle, and how he used it to forecast the financial crisis in 2008 a year ahead of time. He then explains the significance of an “inverted yield curve,” and shows how the Austrians can understand its predictive power much better than Keynesians like Paul Krugman can. . Mentioned in the Episode and Other Links of Interest: The post at Lara-Murphy.com (https://lara-murphy.com/the-inverted-yield-curve-and-coming-recession/) explaining the decomposition of the yield curve. Bob’s October 2007 post (https://mises.org/library/worst-recession-25-years) , warning how bad the coming recession might be. Info regarding the September 14, 2019 Mises Institute event in Seattle (https://mises.org/events/mises-institute-seattle-why-american-democracy-fails) . (Contact Bob for a limited offer special deal.) The reason.com symposium (https://reason.com/2014/11/30/whatever-happened-to-inflation/) on “Whatever happened to inflation?” Paul Krugman’s article on the yield curve, “From Trump Boom to Trump Gloom.” (https://www.nytimes.com/2019/08/15/opinion/trump-economy.html) The Federal Reserve’s papers (https://www.newyorkfed.org/research/capital_markets/ycfaq.html) on the yield curve. Check out free sample issues of the Lara-Murphy Report (https://bobmurphyshow.com/lmr) . Bob and Carlos Lara’s video (https://lara-murphy.com/video0916/) , “How to Weather the Coming Financial Storms.” Bob’s article on “the winner’s curse” (https://mises.org/library/winners-curse) and the assumptions underlying the analysis. Help support (http://bobmurphyshow.com/contribute) the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media (http://podsworth.com) .
Audio version here: https://anchor.fm/lpmisescaucus Want your questions related to economics, libertarian theory and ethics answered by an Austrian Economist? Submit them at AskAnAustrian.com Become a donor to Mises PAC, join the decentralized Re(Love)ution! - LPMisesCaucus.com/donate You can check out Lucas Engelhardt's work at the Mises Institute (https://mises.org/profile/lucas-m-engelhardt) as well as on his personal website (http://www.lucasmengelhardt.com/) Question Timestaps: 00:15 - Question 1 - What is the best introductory book for the layman who wants to learn the basics of Austrian econ, but doesn't necessarily want to become an expert or read something as extensive as Human Action or ME&S? Question 2 - 4:47 - In the absence of a federal reserve, would prices ever go up? In other words, would the cost of living increase? Question 3 - 7:30 - Am I wrong for saying the U.S dollar does not have a unit of account? Since the U.S dollar is a unit of debt and debt has no standard measurement. How can I logically compare prices than. Question 4 - 12:18 - Why is the petrodollar so important to the USA and if other nations move away from the dollar in global trade will there be an inflationary impact in the USA? Question 5 - 15:52 - What is the Austrian Business Cycle Theory, and what should the Mises Caucus advocate for given an understanding of ABCT?
Austrian Business Cycle Theory and Cantillon Effects
One thing that has been proven again and again through history, is that the financial markets will go up and down. They will ebb and flow, almost like a life form, like water seeking to flow and find the fissures and pathways to pool together, aggregate and rise. Karen Rands, as the Compassionate Capitalist Evangelist, and an Economist by training, has a lively discussion with Dr. Mark Thornton of the Mises Institute. The Mises Institute, part of the Auburn University system, is an economic policy think tank built upon the Austrian Business Cycle Theory that promotes free and capitalist markets. Dr. Thornton is a leading economist that investigates history, economic matters, financial markets, and key indicators that correlate with market corrections and collapses. He has written a number of books regarding free markets and the economy. The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century, was profound in its 2009 Recession predictions. Get your free copy. Karen and Mark explore this theory, market corrections in history not correllated with massive skyscrapers and other potential influences. They wrap up their conversation with an exploration of a 2020 prediction of a market collapse and the opening of the 1 Kilometer high skyscraper in Saudi Arabia in 2020. Karen asks about 3 current influences: Volatility of ICOs, the economic growth of small business as a result of 2012 JOBS Act only now beginning to show impact, and the movement of money out of the stock market to fund the new Opportunity Zone Funds, the infrastructure investment it promises, along with drop in Treasury Revenues. Tune in to hear the recommendations.
One thing that has been proven again and again through history, is that the financial markets will go up and down. They will ebb and flow, almost like a life form, like water seeking to flow and find the fissures and pathways to pool together, aggregate and rise. Karen Rands, as the Compassionate Capitalist Evangelist, and an Economist by training, has a lively discussion with Dr. Mark Thornton of the Mises Institute. The Mises Institute, part of the Auburn University system, is an economic policy think tank built upon the Austrian Business Cycle Theory that promotes free and capitalist markets. Dr. Thornton is a leading economist that investigates history, economic matters, financial markets, and key indicators that correlate with market corrections and collapses. He has written a number of books regarding free markets and the economy. The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century, was profound in its 2009 Recession predictions. Get your free copy. Karen and Mark explore this theory, market corrections in history not correllated with massive skyscrapers and other potential influences. They wrap up their conversation with an exploration of a 2020 prediction of a market collapse and the opening of the 1 Kilometer high skyscraper in Saudi Arabia in 2020. Karen asks about 3 current influences: Volatility of ICOs, the economic growth of small business as a result of 2012 JOBS Act only now beginning to show impact, and the movement of money out of the stock market to fund the new Opportunity Zone Funds, the infrastructure investment it promises, along with drop in Treasury Revenues. Tune in to hear the recommendations.
Chris Casey of WindRock Wealth Management and Chris Rossini of the Ron Paul Institute will explain how Austrian Business Cycle Theory may help us forecast a coming recession. Chris Rossini: https://twitter.com/chrisrossini?lang=en RPI: https://www.youtube.com/channel/UCkJ1N-7g9Q6n7KnriGit-Ig Chris Casey: https://windrockwealth.com/ EXCLUSIVE CONTENT Patreon: https://www.patreon.com/KennedyFinance BitBacker: https://bitbacker.io/user/philipkennedy/ KF STORE: https://teespring.com/stores/kennedy-financial AFFILIATE PROGRAMS: Bitcoin T-shirt: https://teespring.com/wear-zero-given#pid=2&cid=2397&sid=front Cash App: https://cash.me/app/GTGJTKF KeepKey: http://keepkey.go2cloud.org/aff_c?offer_id=1&aff_id=4832 Ledger: https://www.ledger.com/?r=4fb4a118958c Coinigy: https://www.coinigy.com/?r=b965d7ee Audible: https://amzn.to/2xjODcU Liberty Classroom: http://www.libertyclassroom.com/dap/a/?a=12067 DONATIONS: Bitcoin: 3HUEVWECPMshJsC2UikwDYr1SZnNmh7sqC Litecoin: LQF3GGZ7Y4e6pE9mWJmooGjEizyhuoxb6K Dash: XwGD7aftdnPU88fNjDAWYQtpd2CwoZPdWT Bitcoin Cash: 1PgudkSsJcj2KMah5GdncBMZVz7xswfwYA PayPal Me: https://paypal.me/KennedyFinancial Cash Me: cash.me/$KennedyFinance WEB: https://www.philipkennedy.com YOUTUBE: http://youtube.com/c/PhilipKennedyFinancial PODCAST: https://soundcloud.com/kennedy-financ... SOCIAL: Steemit: https://steemit.com/@philipkennedy Dtube: https://d.tube/#!/c/philipkennedy DLive: https://dlive.io/@philipkennedy Gab: https://gab.ai/KennedyFinancial Minds: https://www.minds.com/philipkennedy BitChute: https://www.bitchute.com/channel/philipkennedy/ The Goodman Fiske Band (Intro Song): http://goodmanfiskeband.com DISCLAIMER: Kennedy Financial provides pro bono financial counseling and education. All posts are strictly opinion and not a recommendation to invest in any asset class.
Robert Murphy is a professor of economics at the Free Market Institute at Texas Tech University, co-host of Contra-Krugman with Tom Woods, and author of many great books on economics including The Politically Incorrect Guide to Capitalism. This is a wide-ranging conversation that goes from what sparked Bob's intellectual in free-market economics, to starting the Contra-Krugman Podcast, to a deep dive into Economics and specifically Austrian Business Cycle Theory. In This Episode: - What sparked Bob's interests in free market economics? - Writing The Politically Incorrect Guide to Capitalism. - The back story behind the Contra-Krugman podcast. - Overviewing the different schools of economics. - Austrian Business Cycle Theory - Would a perfectly free economy be stable? - Why do waves of bankruptcies all line up together? - The difference between what the Austrian School says and the Efficient Market Hypothesis - Is it harder for the Fed to manipulate the economy now? - From an Austrian perspective, what is concerning with the economy today? - Staying positive when you know that there will be large negative consequences to monetary policy. Full show notes with links at isaacmorehouse.com/podcast If you are a fan of the show, make sure to leave a review on iTunes. All episodes of the Isaac Morehouse Podcast are available on SoundCloud, iTunes, Google Play, and Stitcher.
Liberty Weekly - Libertarian, Ancap, & Voluntaryist Legal Theory from a Rothbardian Perspective
Show host Pat MacFarlane appears solo to offer Murray Rothbard's take on Austrian Business Cycle Theory. In the second half, we use the theory to analyze the current state of the economy and outline the Fed's current predicament. Episode 18 is brought to you by: Our Liberty Classroom Affiliate Link, Featuring: Science Fiction, Liberty, and Dystopia; and The Liberty Weekly Resources Page including all of our affiliate links and coupons. Pick up some high-quality Liberty Weekly merchandise featuring our bold inverted-A logo. Check out our Zazzle Merch Store. Take 20% with code ZAZZLESITE20 Ending TOMORROW Friday July 21. Join the Liberty Weekly Elite by signing up for our email list to receive two free eBooks including: 'Just Say No' to Drug Prohibition, personalized content updates & bonus content from show host Pat MacFarlane. Don't wait! Sign up here. Show Notes: Intro audio courtesy of our friends at Read Rothbard! Murray Rothbard: America's Great Depression Misesmedia YouTube Channel Jeff Diest Interviews Jim Rickards on the SDR and the prospects of a global monetary shift
Steven Horwitz is a professor of economics at Ball State University and a senior affiliated scholar at the Mercatus Center at George Mason University. He joins the show to discuss monetary disequilibrium (the condition when the supply and demand for money are not aligned, which leads to either inflation or deflation). David and Steve also examine Austrian Business Cycle Theory – a theory of how “malinvestment” caused by bad policy leads to an unsustainable boom and inevitable bust. Steve also explains how monetary disequilibrium led to the Great Recession and offers some solutions for minimizing business cycles in the future. David’s blog: http://macromarketmusings.blogspot.com/ Steve Horwitz’s personal website: http://myslu.stlawu.edu/~shorwitz/ Steve Horwitz’s Mercatus profile: https://www.mercatus.org/steven-horwitz David’s Twitter: @DavidBeckworth Related links: *Microfoundations and Macroeconomics: An Austrian Perspective* by Steven Horwitz https://www.amazon.com/Microfoundations-Macroeconomics-Perspective-Steven-Horwitz/dp/0415569575 “An Introduction to U.S. Monetary Policy* by Steven Horwitz https://www.mercatus.org/publication/introduction-us-monetary-policy
Larry White is a professor of economics at George Mason University and has written widely on monetary theory, free banking, and the Austrian School of Economics. Today, he joins the show to discuss the recent demonetization efforts in India to crack down on corruption. White argues that India’s efforts to end the circulation of large notes and begin the circulation of new notes is having pernicious effects on the Indian population. He and David also discuss Austrian Business Cycle Theory, how this theory was developed by great economists such as Ludwig von Mises, and how the theory may have played a role in the lead up to the Great Recession. David’s blog: http://macromarketmusings.blogspot.com/ Larry White’s GMU profile: http://economics.gmu.edu/people/lwhite11 Larry White’s Alt-M archive: https://www.alt-m.org/author/white/ David’s Twitter: @davidbeckworth Larry White’s Twitter: @lawrencehwhite1 Related links: “India’s Currency Cancellation: Seigniorage and Cantillon Effects” by Larry White and Shruti Rajagopalan https://www.alt-m.org/2016/11/28/indias-currency-cancellation-seigniorage-and-cantillon-effects/ *Free Banking in Britain: Theory, Experience and Debate 1800-1845* by Larry White https://www.amazon.com/Free-Banking-Britain-Experience-1800-1845/dp/0255363753 *The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years* by Larry White https://www.amazon.com/Clash-Economic-Ideas-Debates-Experiments/dp/110762133X *The Theory of Money and Credit* by Ludwig von Mises https://www.amazon.com/Theory-Money-Credit-Ludwig-Mises/dp/1442175958
Before our host took his well deserved vacation, we discussed the Federal Reserve in part 1 of this 2 part series. Tonight we finish that discussion! The Federal Reserve's track record shoiuld be a warning to us all that it has been an utter failure. In 1933, the FDIC was created using the same pitch as was used to create the Fed - End the Run on Banks and a period of utopian economic stability will come about! Banks still have to deal with runs, there's been multiple financial panics and deep recessions since then, and there have been more and more regulations layered on top of existing government interventions to continue to try and bring about the statist planner's vision of Utopia!
Mainstream Economic Theory is driven by the old Broken Window Fallacy - Increased Aggregate Demand Despite It's Productivity or Lack Thereof Must by Stimulated. The keynesians, as a result have made some of the most ridiculous declarations that one could imagine. From Keynes himself advocating the government bury money in bottles deep in coal mines and let people go dig them up - to Krugman advocation deception of the public and a false threat from aliens as a way to justify massive deficit spending to stimulate aggregate demand, despite it's wastefulness. Tonight we discuss the basic logical fallacies, we discuss the flaws in aggregate demand theory and we close out discussing WHY, fundamentally, private savings and investment as a result of overproduction, that is each individual producing more than they consume (or household), is what leads to real, sustainable, strong economic growth.
In this second part of “Twenty-One Key Concepts & Theories,” we focus on seven concepts & theories related to economics. Join CJ as he discusses: 8. Public Choice Theory 9. Regulatory Capture 10. Austrian Business Cycle Theory 11. The Broken Window Fallacy 12. Opportunity Costs 13. The Law of Diminishing Marginal Utility 14. The Sunk […] Learn more about your ad choices. Visit megaphone.fm/adchoices
The Alex Merced Cast - Libertarianism, Blockchain and Economics
Alex Explains the austrian business cycle theory to help explain what has happened to Oil prices and the U.S. economy over the last year. Email Alex Merced at EmailAlexMerced@gmail.com Support the show @ support.AlexMerced.com Check out LibertarianWingMedia.com Become a patron at Patreon.com/AlexMercedSupport the show (http://www.patreon.com/alexmerced)
According to the economists of the Austrian School, artificial credit expansion is the primary factor behind the business cycle. Critics have tried to poke holes in the theory, but David Howden shows those holes are just an illusion.
In this first episode of the Mises Academy Podcast, Daniel Sanchez interviews Mark Thornton to discuss his online course on special topics in Austrian Business Cycle Theory, including the “Skyscraper Index,” the art of predicting downturns, and the causes of the housing bubble and burst that led to the 2008 financial crisis. For more information, or to enroll, visit http://academy.mises.org.
From the session on "Macroeconomics: Theory, Policy, and Pedagogy," presented at the Austrian Economics Research Conference. Recorded 23 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.
From the session on "Studies in Business Cycles," presented at the Austrian Economics Research Conference. Recorded 22 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.
Don Boudreaux, of George Mason University, talks with EconTalk host Russ Roberts about the microfoundations of macroeconomics and the Austrian theory of business cycles. Boudreaux draws on Erik Lindahl's distinction between microeconomics and macroeconomics, emphasizing the difference between individual choices and the coordination of economic activity. Other topics include the Austrian view of capital and investment, the Austrian view of monetary policy, the issue of aggregation, and the intellectual successes of the Keynesians.
Don Boudreaux, of George Mason University, talks with EconTalk host Russ Roberts about the microfoundations of macroeconomics and the Austrian theory of business cycles. Boudreaux draws on Erik Lindahl's distinction between microeconomics and macroeconomics, emphasizing the difference between individual choices and the coordination of economic activity. Other topics include the Austrian view of capital and investment, the Austrian view of monetary policy, the issue of aggregation, and the intellectual successes of the Keynesians.
William Anderson presents Say's Law and the Austrian Business Cycle Theory. From the 2009 ASC Panel: Monetary Economics and the Business Cycle
Boom-busts were a feature of markets. Under consumption caused the depression. WWII ended the Great Depression. All three Keynesian beliefs were inaccurate. Only the Austrian Business Cycle Theory got it right.Artificially lowered interest rates mislead investors. The Federal Reserve’s policy of cheap money creates mal-investments. The cause of boom-busts is this commercial credit expansion that is not backed by real pools of private savings.Herbert Hoover’s policies prolonged the Great Depression. His agricultural policy was a disaster. Raising tariffs an average of 59% on more than 25,000 items hurt. Lots of tax increases crippled businesses. Hoover sought prosperity through central planning, as did his successor, FDR, who also knew nothing about how wealth was created.Lecture 14 of 14 from Tom Woods' The Politically Incorrect Guide to American History lecture series.
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