Podcasts about economic affairs

A Sudanese man has been arrested in north Belfast following what can only be described as an attempted beheading — a horrific, graphic attack captured on video. Meanwhile, the BBC initially buried it beneath the headline: "Man taken to hospital with serious injuries after Belfast stabbing." Julia Hartley-Brewer is joined by Henry Hill, Political Editor of The Critic, who explains why journalists strip out the most critical details of violent crimes — and why the Public Order Act is being weaponised to protect hypothetical racists over real victims.Reform UK Deputy Leader Richard Tice joins live as the Belfast attacker's identity is confirmed on air. He pulls no punches: the public has a right to know the full history of this individual — now, not in two years' time after a court case. He also reacts to the bombshell Telegraph revelation that £28 billion in taxpayers' money was handed to terrorist groups including ISIS, hostile states such as Russia, and Chinese military-linked companies — through foreign aid and COVID relief loans — which was then actively covered up by the Conservative government.Lord Daniel Hannan, Director of the Institute of Economic Affairs, connects the dots: a bloated, unaccountable, ideologically captured state that selects in favour of dangerous migrants, funds our enemies abroad, and then buries the evidence. He also takes aim at Kemi Badenoch's pledge to scrap the public sector equality duty — welcome, he says, but the real rot runs far deeper than any single piece of legislation.Julia Hartley-Brewer broadcasts on Talk from Monday to Thursday, 10AM to 1PM. Available on YouTube and streaming platforms, along with DAB+ radio and your smart speaker. Hosted on Acast. See acast.com/privacy for more information.

Over a million young people aged 16 to 24 are currently not in education, employment or training. Former Cabinet Minister Alan Milburn argues that without urgent action, that figure could rise to one in six within five years. How has this happened? Milburn points to young people's ‘aspiration', but a job market that is failing them, following increases to employer's national insurance and the minimum wage. Julia adds young people's attitudes… and failed parenting. Ryan Wayne from the Tony Blair Institute joins the show to discuss the report, as well as Tony Blair's criticism of the government. Julia questions his boss's legacy — mass immigration from Eastern Europe, the 50% university target, and net zero — arguing they systematically dismantled opportunities for a generation of young Brits.Lord Daniel Hannan, incoming Director General of the Institute of Economic Affairs, lays out the economics that have led to our current malaise: punishing hikes in National Insurance, the Rayner Employment Rights Bill, and a near two-thirds rise in the minimum wage since lockdown have made hiring young people a risk too far for businesses. Add to that a welfare system riddled with perverse incentives, a surge in mental health diagnoses with patients coached by online influencers, and a lockdown hangover we've barely begun to recover from — and the picture is bleak.Also: Dame Helen Mirren, 80 years old and walking through London with her husband, is subjected to a foul-mouthed tirade by a pro-Palestine activist. Philip Ingram MBE connects the dots between Iran's Revolutionary Guard and the radicalisation driving these shocking street confrontations.Julia Hartley-Brewer broadcasts on Talk from Monday to Thursday, 10AM to 1PM. Available on YouTube and streaming platforms, along with DAB+ radio and your smart speaker. Hosted on Acast. See acast.com/privacy for more information.

The Supreme Court on Wednesday upheld retrospective levy of 28 per cent GST on online gaming companies. The court also clarified that final decision in the matter is left to the concerned GST authorities. At the same time, it also upheld the laws enacted by Tamil Nadu and Karnataka criminalising online games played for money or stakes, including games such as rummy, poker and fantasy sports. A Bench of Justices J B Pardiwala and R Mahadevan said, quote: “The online gaming operators are not mere facilitators or intermediaries, but are suppliers of actionable claims amenable to GST.” End quote. Accordingly, the levy of GST on the supply of actionable claims arising from betting and gambling is constitutionally valid, it said, while setting aside a Karnataka High Court judgment. The case arose from GST notices issued to real-money gaming companies on the basis that 28 per cent tax was payable on the full face value of bets or contest entry amounts, and not merely on the platform fee or gross gaming revenue. The gaming industry's case was that GST could only be levied on gross gaming revenue, which is the amount retained by platforms after deducting winnings. The Supreme Court ruling, which comes after over one lakh crore rupees worth of showcause notices issued to gaming companies, is expected to put pressure on their margins, with survival likely to hinge on aggressive cost rationalisation and rapid business model adaptation. Meanwhile, in a move aimed at turning the country's vast ration distribution network into a technology-driven welfare platform, the Cabinet Committee on Economic Affairs on Wednesday approved continuation of the SARTHAK-PDS scheme for another five years with a central outlay of 25,530 crore rupees. The revamped scheme seeks to modernise the public distribution system by bringing together foodgrain logistics, beneficiary management and grievance redressal on a single digital architecture, while also easing the financial burden on States for transporting grains to ration shops. Information and Broadcasting Minister Ashwini Vaishnaw said the scheme covers the entire supply chain, from identification of beneficiaries and movement of foodgrains to citizen feedback mechanisms and reduction in transportation delays. The scheme will run till March 31, 2030. In the aviation sector, Air India will reduce up to 22 per cent of its domestic flights amid rising operational costs due to high fuel prices, according to sources. The loss-making airline, which is facing financial headwinds, has already reduced international flights by around 27 per cent. Air India operates around 4,400 weekly flights. Out of these, about 3,600 are domestic and 800 are international services. In a statement, the airline said that, in continuation of previously announced adjustments to select international services between June and August 2026, it has temporarily rationalised operations on certain domestic routes during the same period, with a reduction in frequencies on select routes. Sources indicate that 20 to 22 per cent of domestic flights will be reduced, with the airline citing the sustained impact of high fuel prices on overall operations. And on the global front, as tensions in the Middle East approach a critical juncture, reports have surfaced regarding a draft memorandum of understanding between the United States and Iran aimed at de-escalating the ongoing conflict, according to Iranian state media. With President Trump convening senior officials to finalise a potential agreement, the proposal offers a roadmap for restoring stability in the vital Strait of Hormuz while navigating the complexities of regional military presence. According to Iran's state television, the preliminary document outlines a multi-layered peace process designed to wind down hostilities and address key economic and security concerns. Under the proposal, Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within 30 days. Transit would be managed by Iran in coordination with Oman, though the current draft reportedly excludes US military vessels from this specific transit framework.

The fiat money system has survived the Great Inflation, the global financial crisis, and a pandemic. But can it survive digital currencies?Bitcoin and the blockchain solved a genuine problem in computer science: how to stop people spending the same money twice. Forty years of successful inflation control means central bank money is stable; that is the stability in stablecoins, attempting to solve the volatility problem. What's next? What if the unit of account itself were indexed to consumer prices? Digitalisation might finally make that approach viable at scale. Price stability, by design.Will we still need cash? Maybe not now, But if you never use it, it may not be there if the blackout comes.The research behind this episode:Stracca, Livio. 2025. Redefining the Monetary Standard in the Digital Age: Digital Innovations and the Future of Monetary Policy. Springer Nature.To cite this episode:Phillips, Tim, and Livio Stracca. 2026. "Redefining the monetary standard." VoxTalks Economics (podcast). Assign this as extra listening. The citation above is formatted and ready for a reading list or VLE.About the guestLivio Stracca is Deputy Director General for International and European Relations at the European Central Bank, where he has worked for more than two decades. His research spans monetary economics, international finance, and the implications of digitalisation for central banking, with extensive work on exchange rates, capital flows, and the architecture of the international monetary system. Research cited in this episodeThe double-spend problem. The fundamental challenge in any decentralised digital payment system: how to prevent a participant from spending the same unit of money twice when there is no trusted central authority to verify transactions. Bitcoin's 2008 white paper offered an innovative solution by making the transaction ledger public, cumulative, and computationally expensive to rewrite. The trade-off is that transparency sacrifices privacy; every transaction is visible to all participants in the network.The blockchain. A distributed ledger in which transactions are grouped into sequential blocks, each cryptographically linked to the one before. Reversing any transaction requires rewriting every subsequent block, which demands enormous computational effort. This design solves the double-spend problem in a decentralised network but makes the system slow and costly to operate at scale.The payment trilemma. A framework discussed in the episode and in Stracca's book: any digital payment system can optimise for at most two of three properties simultaneously (universal access, security against fraudulent transactions, and privacy). Cash is the only instrument that escapes the trilemma; digital systems must accept a trade-off among the three, and the choice is often made implicitly by the designer of the system rather than through democratic deliberation.Hayek, Friedrich A. 1976. Denationalisation of Money. London: Institute of Economic Affairs. The classic argument for currency competition: let currencies compete freely and the one providing the most stable prices will win. Economists, including Milton Friedman, largely rejected the proposal on the grounds that money exhibits strong network externalities; the more people use a currency, the more attractive it becomes to the next user, producing a natural tendency towards monopoly. A formal modern revisitation, finding similar conclusions, is Fernández-Villaverde, Jesús, and Daniel Sanches. 2019. "Can Currency Competition Work?" Journal of Political Economy 127 (3): 1017 to 1058.Irving Fisher's compensated dollar. A proposal published in Fisher, Irving. 1913. "A Compensated Dollar." Quarterly Journal of Economics 27 (2): 213–235 (the same year the Federal Reserve was created). Fisher argued for a dollar whose purchasing power was held constant by adjusting its gold content in line with prices. The mechanical details of his proposal are no longer relevant, but its animating idea (indexing the unit of account to a price level) has gained new plausibility in a digital context.The Unidad de Fomento. Chile's inflation-indexed unit of account, in operation since 1967 and updated daily against the consumer price index. It is used widely in long-term contracts, including mortgages, and functions as a security that can be traded. Stracca cites it as evidence that an indexed monetary standard is operationally feasible, and as a prototype for what a digital equivalent might look like at larger scale.The Great Moderation. The period of low and stable inflation in advanced economies running roughly from the mid-1980s until the inflation episode of 2021 to 2023. Economists attribute it to improved monetary policy frameworks, particularly central bank independence, inflation targeting, and (crucially, in Stracca's account) the introduction of interest on reserves, which gave central banks precise control over the short-term interest rate without draining liquidity. Stracca treats the Great Moderation as the benchmark against which any proposed reform of the monetary standard must be judged.Programmable money. A form of digital money in which payment is conditional on an independently verifiable event, potentially confirmed by a machine rather than a human intermediary. Example: a payment that executes automatically when a delivery is confirmed by a sensor. Decentralised ledgers make such conditional payments technically straightforward; traditional banking systems can approximate them but with far greater friction. Stracca notes significant enthusiasm for programmable money but also real scepticism about whether the benefits outweigh the complexity in practice.More VoxTalks Economics episodesStablecoins and Global Imbalances, Gilles Moëc explains why we can think of stablecoins as a radical macroeconomic experiment that has arrived at exactly the moment the US external position is showing signs of stress.Can blockchain decentralise money, contracts, and finance? Bruno Biais on blockchain's potential, its flaws, and its future.Do stablecoins threaten financial stability? Richard Portes thinks so.

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened up 80-points this morning from yesterday's close, at 41,448 on turnover of $12.8-billion N-T. The market rebouded on Thursday after losing ground for five consecutive sessions following a solid earning's report from Nvidia, which lifted investor interest in tech stocks. Taiwan targets 100,000 monthly drone output and export growth The Ministry of Economic Affairs says the island's drone industry is expected to expand significantly (顯著地) by 2030. According to the ministry's Industrial Development Administration, Taiwan's drone output value grew 2.5-fold last year to 12.9-billion N-T under a government program to develop the unmanned vehicle sector. The administration says current monthly drone production capacity is about 15,000 units, but the industry can quickly scale-up as demand increases, This means capacity is projected to exceed 100,000 units per month by 2030 and 50-per cent of that total will be exported. Exports of Taiwan-made drones currently account for just over 20-per cent. The top buyers are the Czech Republic, Poland and the United States. Elderly anteater missing from Taipei Zoo The Taipei Zoo is asking for public help in finding a lesser anteater that escaped from its enclosure (圍起來的區域) earlier in the week. According to the zoo, the anteater has not been seen since Monday and 65 staff members have been searching for the 12-year-old animal. She was last seen on surveillance cameras around 6:55PM on Monday near a visitor walkway in a bromeliad garden. Zookeepers are speculating that a banana tree inside the enclosure may have snapped under the animal's weight while she was climbing, creating a "bridge" to an adjacent artificial rock formation, allowing her to escape. The zoo says lesser anteaters are nocturnal and tend to hide in dense vegetation during the day, which makes the search efforts difficult. The searches so far have been focused on the zoo's rainforest zone, nearby trails, and hillsides around the giant panda exhibit. Israel Releases Gaza Flotilla Activists Israel says it has released and deported hundreds of activists who took part in a flotilla attempting to breach Israel's naval blockade (海上封鎖) of Gaza. About 420 activists placed on a flight to Turkey landed Thursday in Istanbul. The Israeli Foreign Ministry said all foreign activists had been deported. Prime Minister Benjamin Netanyahu ordered the deportations after criticizing Israel's national security minister for taunting detained activists. The flotilla, with over 50 boats, left from Turkey to draw attention to Gaza's conditions. US House to vote on limiting Trump's Iran war power The US House of Representatives is expected to vote on legislation that would severely (程度很深，嚴重) limit president Donald Trump's ability to continue to wage war against Iran. A similar war powers resolution passed the Senate earlier this week. Nick Harper reports from Washington. Mexico US Homeland Security Sec Visiting Mexico's President Claudia Sheinbaum said that she and the U.S. Homeland Security Secretary Markwayne Mullin agreed to maintain bilateral cooperation rooted in mutual respect. Mullin's two-day Mexico visit follows tensions over the deaths of two CIA agents at Mexico's northern border and U.S. indictments against 10 Mexican officials. Sheinbaum's administration has emphasized cooperation while maintaining sovereignty. Mullin, who assumed the position in March after Kristi Noem's departure (離開), is also scheduled to meet with Mexico's Security Cabinet. That was the I.C.R.T. EZ News, I'm _____. －－－－以下為 SoundOn 動態廣告－－－－ 左岸咖啡館乘載巴黎塞納河左岸的人文底蘊，還有每個人對法式生活的美好嚮往。 走進左岸咖啡館，點一杯深焙濃郁的曼特寧風味咖啡，用極致香醇喚醒法式浪漫的靈魂… 享受一個人的獨白時光☕ 我在左岸咖啡館

Concert promoters will be required to disclose how many tickets are available at each price point before sales begin under new EU rules being examined by Michael McGrath, Ireland's European commissioner for justice. The measure is being considered after a backlash over the use of so-called dynamic pricing systems, where ticket prices fluctuate in real time according to demand. Anton was joined by Dr Steve Davies Senior Education Fellow at the Institute of Economic Affairs.

Andy Burnham is heading for a leadership bid, and he's arrived with a big idea: Manchesterism. Apparently a form of business-friendly socialism, it's built on borrowing, backed by the Manchester skyline, and presented as a credible alternative to both austerity and the hard left. There is just one problem: it doesn't add up.Mani Basharzad of the Institute of Economic Affairs argues that the Manchester model rests on borrowing that bond markets are already pricing with suspicion, a council that is among the most indebted in the country, and a breezy confidence that infrastructure debt is categorically different from any other kind. (It isn't.) Then there is the welfare question: Burnham has shown no appetite for restraint. And the wealth taxes he has quietly signalled would do to capital what rent controls do to housing.The deepest problem is one of logic. Burnham wants growth and expanded welfare. He wants business confidence and more borrowing. He wants reform and the preservation of every existing structure. As Ludwig von Mises observed, you cannot split the difference between the government and the market. There is no third solution – only planned chaos.Despatch brings you the best writing from CapX's unrivalled daily newsletter from the heart of Westminster.Stay informed with CapX's unmissable daily briefings from the heart of Westminster. Go to capx.co to subscribe. Hosted on Acast. See acast.com/privacy for more information.

Concert promoters will be required to disclose how many tickets are available at each price point before sales begin under new EU rules being examined by Michael McGrath, Ireland's European commissioner for justice. The measure is being considered after a backlash over the use of so-called dynamic pricing systems, where ticket prices fluctuate in real time according to demand. Anton was joined by Dr Steve Davies Senior Education Fellow at the Institute of Economic Affairs.

Securing AI dominance requires more than just semiconductors; it demands a complete overhaul of how the West manages everything that goes into them, from rare earth minerals to actuators. Enter: Pax Silica. Sarah Guo and Elad Gil sit down with US Under Secretary of State for Economic Affairs Jacob Helberg to discuss the launch and expansion of Pax Silica, a 14-country economic security coalition designed to secure the entire AI supply chain. Jacob talks about the creation of a forward-deployed industrial base in the Philippines, where 4,000 acres will be developed into an “economic security zone.” He also compares and contrasts Pax Silica with China's Belt and Road initiative, explains how the US plans to reindustrialize through automation and robotics, and explores how the Trump administration envisions making these policies durable across future presidencies. Plus, we hear why Jacob believes America to be a “global underdog.” Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @jacobhelberg | @UnderSecE Chapters: 00:00 – Cold Open 00:41 – Jacob Helberg Introduction 01:02 – Pax Silica's Mission 03:51 – Investing in AI Chip Supply Chains 05:43 – Comparing Pax Silica to China's Belt and Road Initiative 12:38 – Pax Silica's Value Proposition 14:38 – US vs. Partnered Manufacturing 19:10 – Rare Earth Mineral Pricing 22:16 – Role of Venture Capital in Pax Silica 24:50 – Near vs. Long-Term Priorities 27:09 – Making AI Policy Durable 28:09 – How Policies Impact Entrepreneurs 31:00 – Trump's Entrepreneurial Administration 33:00 – Why America is a Global Underdog 38:00 – Conclusion

Stay connected with us at americangroundradio.com, on Facebook, and Instagram. You're listening to American Ground Radio with Louis R. Avallone and Stephen Parr. This is the full show for April 17, 2026. We open with a story that is equal parts political scandal and perfect metaphor — Gavin Newsom's political PAC spent $1.5 million buying 67,000 copies of his own memoir and handing them out to donors, manufacturing a bestseller label out of thin air. We break down what the FEC rules actually say, why this may or may not be legal, and why it doesn't matter — because the real story is that Gavin Newsom is exactly as artificial as this stunt suggests. A plastic politician buying his own book to build a presidential resume is not a campaign strategy. It's a confession. In our Top 3 Things You Need to Know, Iran has announced it is reopening the Strait of Hormuz to international shipping — and oil prices dropped 10% worldwide within hours. We give you our honest read on whether Iran's sudden cooperation is genuine or a strategic ruse, why Trump's blockade of Iranian ports remains in place as leverage over the nuclear program, and what it means that the first ship through the newly reopened strait was a cruise ship. Then we dig into the House blocking a FISA extension — the same surveillance law the Obama administration used to spy on the Trump campaign — and why the Democrats who used it are now suddenly against it. Plus, a Soros-backed Minneapolis district attorney has issued an arrest warrant for an ICE officer who drew his weapon during a confrontation on the highway, while refusing to prosecute a single activist for weeks of violent attacks against ICE officers in that city. Our American Mamas Teri Netterville and Kimberly Burleson tackle one of the most personal and emotionally complex questions families face — what do you do when one sibling carries the entire burden of caring for an aging parent while the others aren't showing up? We get into the difference between checking in and actually showing up, why resentment is a trap even when it's completely justified, how childhood dynamics resurface when parents need care, and why open communication may be the only thing that keeps a family from fracturing under the weight of it all. Then we dig into a stat that should stop every American who's been told we should be more like Europe dead in their tracks. According to a study by the Institute of Economic Affairs, if Britain became the 51st state, most Brits think they'd rank seventh in GDP per capita. The reality — they'd be dead last. Below Mississippi. We walk through where Ireland, Switzerland, Norway, Denmark, the Netherlands, and most of Europe actually fall on the list, explain why open borders, green energy mandates, and free speech regulations have quietly gutted European living standards, and make the case that Europe should be trying to be more like America — not the other way around. We also cover the Artemis II mission's spiritual aftermath — Commander Reed Wiseman, who describes himself as not a particularly religious man, immediately sought out the Navy chaplain on the rescue ship when they splashed down in the Pacific. When the chaplain walked in wearing a cross on his collar, Wiseman broke down in tears. We talk about what it means when the farthest journey from Earth any human crew has ever taken ends with a man weeping before a chaplain he'd never met. We discuss Elon Musk's proposal for universal high-income checks funded by AI and robotics — and why, even if the robots are doing the work, universal government income is still communism. Scripture is clear. Genesis places man in the garden not to sit idle, but to tend it. And we close out with Fairfax County, Virginia — right next to Arlington National Cemetery, 50 miles from the Pentagon — canceling Veterans Day as a school holiday while keeping Indigenous Peoples Day. We call it what it is. And a 91-year-old woman in Westlake, Ohio didn't answer her daily wellness check call, didn't answer her family, and didn't answer the door when police knocked. Officers used the garage code to get in. They found her alive and well in her bedroom, chasing her all-time high score on a video game. May your pursuit of happiness bring you joy. Listen now wherever you get your podcasts, visit AmericanGroundRadio.com, and join the conversation at 866-AGR-1776! See omnystudio.com/listener for privacy information.

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened up 99-points this morning from last week's close, at 32,671 on turnover of 5.9-billion N-T. The market slumped 600 points last Thursday before the long-weekend holiday - despite Wall Street moving higher overnight. Republican congressional delegation visits Taiwan The Ministry of Foreign Affairs says a U-S Republican congressional delegation led by Zach Nunn is visiting Taiwan this week for a seven trip and will meet with President Lai Ching-te. Nunn is the chairman of the Republican Study Committee's National Security Task Force. Along with meeting Lai, the delegation will also be holding talks with other senior officials to discuss Taiwan-US relations, regional security, economic and trade cooperation, and developments in the Taiwan Strait. Plastic supplies to remain sufficient amid oil concerns The Ministry of Economic Affairs says supplies of plastic products remain stable despite rising oil prices. The statement comes amid concerns over potential shortages (短缺) of plastic items and higher prices caused by the war against Iran and subsequent closing of the Strait of Hormuz. According to the economics ministry, inventory checks across 350 shopping districts around Taiwan had found plastic bag shortages in 42 districts and in 284 of 1,033 markets. The ministry is urgung consumers and businesses not to panic-buy plastic products and is insisting that C-P-C- will boost production to ease (緩解) fears of shortages. Moscow says "no comments" on Trump's threats to Iran over the Strait of Hormuz The Kremlin says it would to comment on the US President Donald Trump's statements on the Strait of Hormuz. Trump earlier warned Iran it will see major US attacks if no deal is reached with Tehran to reopen the Strait of Hormuz by Tuesday. Our correspondent Daria Bondarchuk reports from the Russian capital. Afghanistan Flooding Afghanistan's disaster management authority says extreme weather has caused widespread flooding and landslides, killing at least 110 people. Another seven are missing. Storms began about 12 days ago, affecting most of the country's provinces. Over the past 24 hours, 11 people have died, and six have been injured. T he Defense Ministry used a helicopter to rescue two people stranded (被困住) by floodwater in Herat. Authorities issued weather warnings for Tuesday, urging people to avoid rivers and flood-prone areas. Two major highways remain closed due to landslides. Canada BC VW Prank Authorities in British Columbia have urged people to stay away from a rock face above a highway in the Canadian province where a Volkswagen Beetle shell was suspended (暫停) in an apparent prank (惡作劇) by engineering students. Officials say the area around the Stawamus Chief rock formation is a “sacred place” with deep cultural meaning to the Squamish Nation. They say the Beetle was expected to be removed within the week. The Royal Canadian Mounted Police and park rangers have been asked to investigate. That was the I.C.R.T. EZ News, I'm _____. －－－－以下為 SoundOn 動態廣告－－－－ 出國就選最好的！ 跟著【東南旅遊x六一遛阿寬】帶爸媽去北越下龍灣 全程五星住宿，搭頂級遊船、熱氣球，品嘗在地米其林

Sinopsis El capitalismo, entendido como sistema de economía libre y abierta, ha elevado el nivel general de vida en los países que lo han aplicado. A pesar de ello, incluso entre sus beneficiarios, el capitalismo tiene mala prensa y siempre es presentado como salvaje e inhumano. La mentalidad anticapitalista pervive en nuestros días, especialmente entre los intelectuales. Ludwig von Mises dedicó su libro La mentalidad anticapitalista a analizar este sorprendente fenómeno. A lo largo de esta sesión con el profesor Cristóbal Matarán, analizaremos las ideas principales de esta obra donde Mises explica la «mentalidad anti-capitalista» subrayando sus motivos psicológicos y la ignorancia sobre el verdadero funcionamiento de la economía de mercado. Breve perfil del invitado Cristóbal Matarán López es doctor en Economía por la Universidad Rey Juan Carlos (Madrid), profesor adjunto del Departamento de Economía y Empresa de la Universidad Europea de Madrid, y profesor asociado en la Universidad Francisco Marroquín. En sus publicaciones investiga los orígenes del pensamiento económico austriaco y sus debates actuales. Ha publicado en revistas como The Review of Austrian Economics o Economic Affairs. También ha publicado artículos de opinión en el Instituto Juan de Mariana y Disidentia. Es asistente editorial de Procesos de mercado. Revista europea de economía política.

Jesús Huerta de Soto traces the Austrian school's intellectual roots from the Spanish scholastics to Rothbard, making the case that anarcho-capitalism is the natural endpoint of the classical liberal tradition.The Ludwig von Mises Memorial Lecture, sponsored by Yousif Almoayyed.The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.Full Text version of the Lecture (Submitted by Prof. Huerta de Soto):Thank you very much to the Mises Institute and Joe Salerno for his kind introduction as well as for inviting me to deliver this “Ludwig von Mises Memorial Lecture” to celebrate the one hundredth anniversary of Murray N. Rothbard's birthday. It is the second time I visit the Mises Institute to deliver this most important lecture: The first one was almost thirty years ago, back in April 1997, when I delivered a lecture on “The Scholastic Roots of the Austrian School”. In this second opportunity I am very happy to have been able to accept Joe's invitation and to come with a very well represented retinue of ten of my colleagues and doctoral students. All of them are teaching as professors or making their research at our more than twenty-year-old Doctoral and Master Programs in Austrian Economics at King Juan Carlos University back in Madrid, and which is the only one officially approved and with full validity inside the whole European Union. You have already had the opportunity to hear from each one of them a detailed description of the so-called “Madrid Austrian Research Hub” and of all the activities we are developing every year, including the 54 Doctoral Theses on Austrian Economics that have been read up to now in our program. And here you have also copies of the English version of our main books published by Routledge, Edward Elgar, and by the Macmillan Austrian Series edited by my Madrid Colleagues, the German professor Philipp Bagus and the Canadian professor Dave Howden. And you will have the unique opportunity to buy these books that, as you know, have a hefty price of almost 100 pounds each one, at the almost “stolen property” and symbolic price of 5 dollars per copy, thanks to the most generous help of the Spanish Jesús Huerta de Soto Foundation that is helping to finance our participation in this important event.And now what I will do in the next forty minutes is to try to summarize not only my main contributions, but also “The Libertarian Vision of the Scientific and Moral Truth” as we see it from our Austrian School Hub in Madrid. And I will do it by focusing on a series of fundamental points.Precisely, the youngest of all sciences, Economics is the one that has provided Humanity with the most important scientific contributionThe first one is that Economics, being the last science to arrive, or as Mises said, "the youngest of all sciences," has nevertheless achieved the milestone of providing Humanity with the most important scientific contribution. For the first time, and thanks to Economic Science, human beings have discovered and understood that voluntary social cooperation, free from all institutional and systematic external coercion, generates a spontaneous order that cannot be designed nor organized by anyone, and that peacefully and without limits drives the prosperity and expansion of Humankind.This transcendental message of Economic Science, on the one hand, resolves the impossible antithesis of attempting to apply, within the realm of interactions carried out by human beings endowed with free will, the manipulative approach of external entities that human beings have no choice but to use, supported by technology and the natural sciences, in order to dominate the subject of the material world. And on the other hand, this is a radically revolutionary message: for the first time, it has been scientifically demonstrated that states, in any of their forms, are neither necessary nor viable; that Society, understood as a process of voluntary human interactions, does not need anyone to govern it, because it regulates and organizes itself spontaneously; and that the attempt to coordinate Society on the basis of social engineering and state coercive commands is impossible, doomed to failure, and gives rise to all kinds of distortions, social conflicts and violence, that continually hinder and block human progress.Economic science is generalized into a complete Theory of Liberty that makes it possible to reinterpret History and promote the expansion of civilizationThe second point is that Economics has been generalized into a whole Theory of Liberty, understood as the most essential attribute and requirement of human nature. Liberty means that all human actions are carried out voluntarily, based on the principle of non-aggression, and free of external coercion or violence imposed and organized from above by the always minority group of human beings who, under whatever title, exercise any kind of political power.Moreover, Economics dismantles and turns upside down the erroneous and biased account of Thomas Hobbes and his followers. Neither was the "state of nature" a terrifying situation, nor did a supposed "social contract" ever exist or was it necessary to create and maintain a State that would impose order and guarantee peace. What happened was precisely the opposite: natural evolution consisted, above all, in the spontaneous discovery of the great advantages provided by voluntary exchanges and peaceful trade. Systematic and generalized violence, war, and terror arose only with the appearance of States, as coercive institutions composed of the most antisocial and violent human beings, who wanted (and still want) to live at the expense of plundering those citizens who earn their living by working and trading peacefully with each other (Oppenheimer, 1926).Thus, Economics, demonstrates that what Étienne de La Boétie named "voluntary servitude", is an anti-human aberration to which human beings have been subjected for centuries. And that it is not necessary to continue with the resigned habit of obeying the State; nor do governments enjoy an aura of prestige (but are literally "stripped" of any attribute of intellectual or moral superiority); nor is the caste—or “praetorian guard”—of intellectuals, “experts”, and acolytes that surround states and rulers to be regarded as untouchable; nor should we allow ourselves to be seduced and deceived by subsidies or perks, whether supposed or real, with which they seek to purchase the will and secure the loyalty of exploited human beings, so that they will consent, voluntarily and permanently, to their exploitation and servitude (De la Boétie, 1975).Economics is the Science developed by the Austrian School of Economics, which should in fact be known as the Spanish School, as it has its origins in the thinking of our scholastics of the Spanish Golden AgeThe third point is that Economic Science has reached its highest level of development thanks to the Austrian School of Economics. As you know, our school is based on the realism of its analytical assumptions, in the dynamic approach based on the entrepreneurial, creative, and coordinating capacity of every human being, and in the study of the spontaneous and self-regulated order of the social process of voluntary human interactions (Huerta de Soto, 2008). The institutional and multidisciplinary approach of the Austrian School is also very relevant. As a result of the spontaneous social process important institutions emerge which, in turn, make it possible and drive it forward: Law and property rights rooted in human nature and discovered and developed spontaneously outside the state; the family, a basic and essential institution, on which the expansion of Humanity is made possible and consolidated; moral principles, which act as a true "automatic pilot" for liberty and which human beings internalize and transmit from generation to generation, thanks to the family and other community or religious institutions; economic institutions, and in particular, money, which also evolves spontaneously outside the State, and which can and should be considered the social institution par excellence, since by overcoming the problems of barter, it enables the exponential multiplication of voluntary exchanges and human interactions, within which the rest of the social, linguistic, moral, legal, economic, and religious institutions are discovered, shaped, and perfected.Our fourth point is that the first theorists of the spontaneous order emerged in the field of law, led by the great jurists of classical Rome. They were the first ones to understand the organic and evolutionary nature of the social process, and so they became, without being aware of it, the first economists. Their tradition was kept alive throughout the Middle Ages thanks to the Catholic Church and, through thinkers such as Saint Thomas Aquinas, Saint Antoninus of Florence, and Saint Bernardino of Siena, eventually came to influence the Spanish scholastics of the sixteenth and seventeenth centuries gathered around the University of Salamanca. As Rothbard demonstrated (Rothbard, 1976) these thinkers of the Spanish Golden Age should be considered the most immediate precedent of the Austrian School of Economics, which, precisely for this reason, should be called the Spanish School of Economics. And in fact, these Spanish scholastics were already able to articulate the following ten essential principles which constitute the theoretical foundation of the Austrian School:Firstly, the subjective theory of value developed by the Bishop of Segovia, Diego de Covarrubias, who as early as 1555 clearly explained that, although the objective nature of wheat is the same in Spain as in America, its price was higher in America because there human beings subjectively valued it much more highly; from this follows the correct relationship between prices and costs set out by Luis Sarabia de la Calle, in the sense that it is market prices that determine costs and not the other way around, as equilibrium theorists mistakenly believe; the Scholastics also realized that equilibrium models and prices lack realism and theoretical meaning because they presuppose a degree of knowledge “so complex that only God, and in no case human beings, could ever acquire it” (in latin “pretium iustum mathematicum licet soli Deo notum”), as already explained by the Jesuit cardinals Juan de Salas in 1617 and Juan de Lugo in 1643, more than three hundred years earlier than Hayek could conclude that “a science which assumes knowledge that can never be acquired is not a Science”; also the dynamic concept of competition is fundamental, understood as a process of rivalry among sellers based on the dynamic conception of market processes developed by Jerónimo Castillo de Bobadilla and Luis de Molina in 1589 and 1597, and that has nothing to do with the static model of "perfect competition" of equilibrium theorists; and also the important contributions of the Spanish Scholastics related with capital theory, business cycles, and the effects of fiduciary media generated by banks; so, particular emphasis should be placed on the rediscovery of the principle of time preference by Martín de Azpilcueta, following what Lessines had already stated in 1285; as well as on the fact that bankers commit mortal sin when they operate with fractional reserves, creating bank deposits as a form of virtual money (or chirographis pecuniarium, as Luis de Molina said in latin) that only exists in their accounting books and distorts the structure of relative prices, creating bubbles and deep economic crises that ultimately "bring everything crashing down," as Saravia de la Calle and Tomás de Mercado so vividly explained in the 16th Century; and in short, the Scholastic's idea that it is impossible to organize society through coercive commands due to lack of the information that would be required to give them coordinating content; as well as the discovery that inflation is a hidden and very harmful tax that arises from an act of tyranny, since it is neither known nor accepted by citizens, which would even justify the assassination of the King according to the theory of tyrannicide, a contribution originally made by the Castilian Comuneros eventually defeated by the tyrant King Charles V in 1521, and developed by Father Juan de Mariana almost a century later [in 1610].This entire line of proto-Austrian scholastic thought also spread throughout the Americas, especially in the newly founded universities of San Marcos in Lima and Mexico City in 1551 where brilliant disciples of these Scholastics, who had studied at the University of Salamanca itself, came to occupy prominent academic positions. Thus, for example, we should mention the cases of Bartolomé Frías de Albornoz in Mexico, and above all the great Juan de Matienzo, who became judge and president of the Royal Audiencia of Charcas and Lima from 1560 onwards (Popescu, 1997).Finally, the doctrine of our scholastics did spread even to North America two centuries later through the books of Juan de Mariana, who greatly influenced Thomas Jefferson and the founding fathers of the United States.However, the southern part of the continent ultimately proved unable to neutralize the wave of growing statism and centralization that first came with the arrivals of the Habsburgs in Spain, and which was intensified even further after the arrival of the Bourbons with Philip V at the beginning of the eighteenth century (Martínez Marina, 1820). How different and much more prosperous and libertarian might the historical evolution of Spain and Latin America have been, had the statist centralism of the Habsburgs and the Bourbons not prevailed, and had the far more libertarian, local, and decentralized traditional representative institutions of the kingdoms of Castile instead remained predominant—institutions that were dismantled, together with Europe's first libertarian revolution, beginning with the defeat of the Castilian Comuneros at Villalar on April 23, 1521 (Leonard Liggio, 2025).The most important and far-reaching contributions of economic scienceLet us now turn, in greater detail, to the most important contributions of Economics, as developed by the Austrian School.First, human cooperation takes place spontaneously, without the need for anyone to organize it coercively from outside. This is so because human beings are endowed with an entrepreneurial and creative capacity that continually drives them to discover the multiple opportunities for profit that arise in their environment. Each of these opportunities embodies a previous discoordination in human behavior that remains latent until it is discovered and overcome by the corresponding entrepreneurial act. This entrepreneurial act always arises from a creative tension and interpretation of events of the outside world that is essentially subjective and, therefore, cannot be reproduced by any artificial intelligence algorithm; in other words, the same objective events can be interpreted in multiple ways, even contradictory ones, without it being possible to postulate which is correct until the corresponding entrepreneurial process is completed in the form of a subjective profit. In any case, every entrepreneurial act involves, firstly, the creation of information that did not exist before (regarding the profit opportunity that arose from the previous discoordination that had gone unnoticed); secondly, the transmission of that knowledge (directly to the parties involved in the entrepreneurial act and indirectly through a series of institutions and signals such as market prices); and third and finally, the coordination of the previous maladjustments takes place when the parties involved learn motu proprio, that is, voluntarily and for their own benefit, to discipline their behavior according to the needs of others (for example, when they discover that they achieve their ends more effectively by specializing and trading peacefully the mutual results of their efforts). The discovery of the essence of this pure entrepreneurial act, with its elements of creation and transmission of information and the spontaneous coordination of the previous maladjustments continually generated by human coexistence, constitutes the most important contribution that Economic Science has provided to Humanity, and explains why the spontaneous process of voluntary social cooperation that drives the multiplication of human beings and the expansion of civilization does not require any statist system of institutional coercion.Another essential contribution of Economics is the concept of Dynamic Efficiency, understood as the process of unlimited expansion of human creativity and entrepreneurial coordination that arises only within a specific institutional framework of moral and legal norms. This framework is the one grounded on the ethical principle according to which every human being has a natural right to appropriate the results of his entrepreneurial creativity; that is, a property right over what one has created and which did not previously exist, which is the most obvious and important human right. For this reason, (dynamic) Efficiency and Morality and Justice (properly understood) cannot be separated one from the other; or, as we might say, they are two sides of the same coin in the sense that only Justice and Morality induce and generate efficiency; and at the same time, what is dynamically efficient in economic terms cannot be neither unjust nor immoral. All of which, on the other hand, demonstrates the integrated order that exists in the social universe, and highlights the three levels of research (theoretical, ethical, and historical) that complement and reinforce with each other and are essential in our search for truth (Huerta de Soto, 2000).Finally, another key contribution of Economic Science is to have demonstrated the impossibility of socialism, or better, the impossibility of statism, in the sense that it is impossible for the State to achieve and coordinate what it promises for the following four reasons:First, because of the enormous volume of information required for such coordination, which the State cannot acquire because it is dispersed in the minds of the eight billion human beings who participate and interact in the social process every day. Second, given the tacit and inarticulate character of this information (and therefore its inability to be transmitted in an objective manner). Third, because the information that is generated is not "given," nor is it static, but instead changes continuously as a result of human creativity, making it impossible to transmit today information that will only be created tomorrow, and which is precisely the information that the organs of State intervention and the so-called “experts” would need today in order to direct society to achieve their objectives tomorrow. And fourth, and above all, because the coercive nature of State commands blocks the entrepreneurial activity of creating the very information which the State organization itself would need in order to give its commands a coordinating content. In sum, the State is always and everywhere violence and coercion; coercion blocks the entrepreneurial act of creation, discovery, and adjustment of discoordinated human behavior, while at the same time preventing the creation of the information and the emergence of free market prices that make economic calculation and social coordination possible. For this reason, statism is not only unnecessary but is also scientifically impossible.The impact of these essential contributions of Economics on the course of social evolution has so far been very limitedAll of these scientific contributions have so far achieved only a very partial, imperfect, and limited impact on the inertia of a social and political reality that has for centuries been characterized by the coercive power of States and rulers, and by the more or less resigned servitude of the citizens. And despite the very limited nature of this impact to date, which at best has materialized in a series of naïve and "liberal" revolutions aimed, with as much arrogance as lack of success, toward the impossible objective of trying to separate and limit the powers of states and rulers through political constitutions and "liberal democracies" (Rothbard, 2009); Humanity has been propelled as never before in those places and historical moments where it has managed, despite everything, to at least partially free itself from the State and open up some of the new channels of liberty shown by the teachings of Economics. Beginning with the Industrial Revolution, which was but the first chapter of the never-completed "Revolution of Liberty" inspired by Economics. And although what has been achieved in terms of prosperity and standard of living by the now eight billion human beings seems relatively significant—and indeed it is—we cannot even conceive of the standard of living and population size that could be achieved if Humanity were able to take full advantage of and fully implement the teachings of Economic Science.We can be few and poor in a context of servitude and submission to the State, or many and wealthy in a context of liberty (Hayek, 1988, p. 133). The globe is practically empty of human beings (the Earth's current population would fit into an area equivalent to that of the state of Alaska, with a population density equal to that of Brussels). And we cannot even imagine the prosperity that could be achieved in a free market daily driven by eighty billion, or even eight hundred billion, human beings. Economics explains and demonstrates that the increasing prosperity of an ever-growing population of human beings never results from deliberate and coercive State plans, nor from the egalitarian income redistribution, nor from increases in public spending, nor from subsidies, debt, or inflation, but only arises from the free market of the capitalist system. This consists of the process of voluntary exchanges among all human beings who, endowed with an innate entrepreneurial and creative capacity, are able to detect and assess, through the system of free prices, the relative urgency and necessity of each good and service, overcoming the relative scarcity of each and satisfying, every day and in the best humanly possible way, the desires and needs of billions of consumers. Entrepreneurs who succeed in this never-ending process of profit-seeking accumulate significant resources, which, in turn, are saved and invested in capital goods and new technologies that make human beings increasingly productive, boosting their wages and standards of living; a virtuous process of continuously expanding prosperity and population growth that, if not coerced or hindered by the State, has no limits.Therefore, it is crucially important for the future of Humanity that it be able to take full and maximum advantage of the lessons and essential message in pursuit of human liberty that Economics provides. But this will only be possible if we are able to unmask and carefully analyze the powerful forces of the pseudoscientific and counterrevolutionary reaction that has been mobilized to prevent the advance of the theory of liberty derived from Economic Science. Despite their diverse origins, they all converge on the same objective: to attempt to justify and preserve State coercion at all costs under the appearance of scientific legitimacy. They are driven by the "fatal conceit" (Hayek, 1988) of many visionaries, thinkers, and supposed "experts" who believe themselves to be clever enough to correct the spontaneous market order, of course, using the violence and coercive power of the State. Together with a privileged caste of rulers, bureaucrats and acolytes, they continually manipulate a Humanity that is sadly accustomed to serving the State. For all of them, it is vital that statism be maintained and that the message of liberty provided by Economics never prevail.Next, we will list the main reactionary pseudoscientific currents that have infiltrated Economic Science like a lethal virus and constitute, in Hayek's terminology, "the counter-revolution of science" (Hayek, 1955).Pseudoscientific reactionary currents opposed to Economic Science. The role played as “useful innocents” by many libertarian economists of the counterrevolutionary mainstreamFirst, positivism and scientism as pseudoscience. By "scientism" we must understand the improper application of the methods of the natural sciences to the field of Economic Science. Thus, while the natural sciences study their object of research as something external, measurable, and quantifiable, Economics studies the implications of the voluntary actions of human beings. And given the essentially creative nature of human beings, the supposed empirical "evidence" has, at best, only a superficial, partial, and always historically contingent value. In Bastiat's words, of "what is seen" —or rather, what is believed to have been seen— but not "what is not seen" (Bastiat, 1995); and at worst, it always entails the assumption, that human beings are an object of research that can be manipulated as the matter of the external world studied by the natural sciences. This inevitably introduces the idea that to improve the world, the State and its rulers must use their coercive power to manipulate and change the things they believe they see in their historically contingent "empirical photos." But these "empirical photos" cannot capture the underlying dynamic essence of spontaneous social processes, let alone what is already happening spontaneously to solve and coordinate every problem. Therefore, it is not surprising that from the very first steps of Economic Science promoted by the Austrian School, its most violent opponents were the "socialists of the chair" gathered around the German Historical School, reinforced in France by the empiricists of the school of Saint-Simon, the insane Comte, and Durkheim, who sought to create a new and alternative pseudoscience of society. And their unhealthy positivist and ultra-empirical influence has persisted to the present day, first through American Institutionalism and later through the massive compilation of empirical data, for example, in the work of Wesley C. Mitchell or Henry Schultz, the latter, as shown by Professor Salerno, having gone on to exert a decisive influence on his assistant Milton Friedman and, through him, even on the Chicago School itself (Salerno, 2023).Secondly, the pseudoscience of neoclassical economics is characterized by its claim that only its own approach constitutes true “science,” that is, the approach based on the principles of equilibrium, maximization, and constancy. Moreover, in addition to the lack of realism of its assumptions, it adds the reductionism of a mathematical language that has developed in response to the needs and demands of the natural sciences, but which is alien to Economic Science because it does not allow for the subjective concept of time or entrepreneurial creativity. Neoclassical economists develop their pseudoscience based not on real human beings of flesh and blood, but on "ideal types" that are like "robotic penguins" who, even in their most sophisticated dynamic stochastic general equilibrium models are limited to moving and reacting to events and State coercion as if they were characters of a sort of economic video game ("videogame economics"). Yet neoclassical pseudoscience, despite its apparent and ever-increasing sophistication, is not capable of accounting for the immense complexity of the real world and rebels against the idea of spontaneous market order in two ways that are equally harmful to human liberty: on the one hand, by promoting the coercive "social engineering" of central banks, States, and governments to use "fine tuning" to force reality toward to the mathematical optimum of their models; and, on the other hand, by labeling as "market failures" everything they believe they observe in reality that does not coincide, in their empirical studies, with their ghostly models of “perfect” equilibrium and adjustment (Milei, 2023); failures that, according to them, refute the "benefits" of the spontaneous order of the market and human liberty, and justify their elimination as soon as possible by a coercive State authority. Note also how neoclassical pseudoscience needs, and feeds upon, the empirical work of the previous pseudoscience, positivism, in order to justify its conclusions against human liberty and in favor of State coercion, so that positivists and neoclassicists join hands and end up reinforcing each other in their reactionary agenda.Third, Keynesianism and macroeconomics as pseudoscience. The very “macro” approach already entails, inevitably, an obvious bias in favor of justifying State intervention, aggression, and coercion against the spontaneous order of the market and human liberty. As F. A. Hayek pointed out in his Nobel Prize acceptance speech in 1974 (Hayek, 1978), macroeconomists ignore everything they cannot measure, specifically truly relevant economic processes and theories. At the same time, they believe that certain aggregate concepts—which lack genuine economic meaning—possess a “real” existence, that permits to collect empirical information or evidence that can be manipulated and statistically treated. Once again, macroeconomic pseudoscience goes hand in hand with positivist pseudoscience, and the two reinforce with each other in their counterrevolutionary reaction. Furthermore, Keynesianism is particularly harmful: not only does it flatly deny the coordinating capacity of creative entrepreneurship and the spontaneous market order, but it also builds as an alternative explanation a whole model—of course—of equilibrium with permanent unemployment, to justify the coercive intervention of the State in the lives of human beings in the form of all kinds of fiscal and monetary manipulations. Moreover, the macroeconomic and Keynesian pseudoscience feeds upon, and is reinforced by, the pseudoscientific approach of the Neoclassical School, to the point that, the so-called "neoclassical Keynesian synthesis" became, throughout the twentieth century, the main reactionary movement inside Economics. Keynesians and macroeconomists thus become the champions of that intoxication with statism, manipulation, and political power which constitutes the framework, orchestrated by governments and central banks, to which we have, regrettably, become accustomed and in which we are forced to live. This context repeatedly destabilizes the spontaneous market order, generates serious financial and economic crises and social conflicts, and continually hampers the prosperity and advance of civilization.We have left the quasi-religious mysticism of Marxist pseudoscience for last, because Marxism was scientifically dead even before it was born: in fact, it emerged with—and was theoretically demolished by—the subjectivist revolution led by the Austrian School of Economics. From the beginning, the Austrian School's development of time preference and capital theory revealed the contradictions and grave scientific errors of Marxism, while at the same time exposing its pronounced character as an intellectual fraud (Böhm-Bawerk, 1949). This intellectual fraud was historically illustrated by the collapse of the Soviet Union, and of virtually all other communist countries, after many decades of unspeakable human suffering for a large part of the world's population, all of which was perfectly consistent with the theory on the impossibility of statism developed by the Austrian School beginning with the von Mises of 1920 (Mises, 1936), and which was the final nail that forever sealed the coffin of the corpse of Marxist pseudoscience (Huerta de Soto, 2010).Finally, in this context, we must mention the destructive role played by a number of distinguished economists who, although they defend liberty and the market economy, could be described as a kind of "useful innocents" in Mises' terminology (Mises, 1947). This is so because, even though they officially oppose rampant statism and defend liberty, by accepting—even if only partially—some of the postulates of the reactionary pseudoscientific currents we have described, they ultimately end up, often without intending to and much to their regret, providing additional impetus to the statist reaction within our discipline; for example, when they insist on advising States with proposals aimed at making them more efficient and at helping them do somewhat better things that they should not be doing at all. By way of illustration, we should include in this category of “useful innocents”, for example, thinkers as the Karl Popper of The Open Society and Its Enemies (Popper, 1966, p. 366), who came to admire the “scientific capacity” and even the “humanism” of Karl Marx, and who proposed a statist strategy of “piecemeal social engineering”; or George Stigler, when he claimed that only empirical evidence could determine which economic system, socialism or capitalism, might function (Stigler, 1975, pp. 1-13); and, more generally, the members of the Chicago School, led by Gary Becker and Milton Friedman. Becker when defending that only economics developed within the strict limits of equilibrium, constancy, and maximization, typical of the neoclassical pseudoscience, constitutes true "economic science." And even more serious could be considered the case of Milton Friedman, whose very sincere love of liberty and intense and popular media support for free markets stand in sharp contrast to his pseudoscientific approach based on the aggregate method of economics of Keynesian origin, on positivist empiricism, and on the full acceptance of the unrealism of assumptions. Only in this way it can be explained Friedman's litany of scientific errors which, much to his regret, have invariably ended up reinforcing statist interventionism, to the point that Hayek himself was forced to conclude that after Keynes's The General Theory, the book that has done the greatest harm to Economic Science has been Friedman's Essays in Positive Economics (Hayek, 1994, pp. 145).The failure of democracy and classical liberalism: the triumph of statismAs we see, many classical liberals and advocates of liberal democracy have also acted as "useful innocents." The fatal error of classical liberals lies in the failure to realize that their program is theoretically impossible, because it incorporates within itself the seeds of its own destruction, precisely to the extent that it considers necessary and accepts the existence of a State (even if it is "minimal") understood as the monopolistic agency of institutional coercion. Therefore, the great error of classical liberals is very basic: they believe in a program of political action and economic doctrine that aims to limit the power of the State, while at the same time accepting it and even considering state's existence necessary. However Economic Science has already shown that the State is unnecessary, that statism (even in its minimal form) is theoretically impossible, and that, given human nature, once the State exists, it is impossible to limit its power. On the other hand, liberal democracy is a concept as naïve as it is impossible. Mises already warned us that democracy could only function if all its participants accepted the classical liberal principles, which is impossible because democracy itself encourages and amplifies vote-buying and the partisan use of power. So, the inevitable conclusion is that "liberal democracy" is a contradiction in terms as absurd as speaking (following Anthony de Jasay) of a “square circle,” of “hot snow,” or of a “virgin prostitute” (A. de Jasay, 1990). And even Hayek considered democracy unworkable if it is understood as the exercise of absolute power by majorities (Kratos in classical Greek). It should therefore come as no surprise that democracy once and again tends to be a perverse system based on lying and buying votes with money stolen through taxation.The fact is that the State attracts like a magnet the worst passions and vices of human nature, for instance, when individuals try to obtain rents produced by others using the State's coercive power. Moreover, the combined effect of the privileged groups, the phenomena of governmental myopia and vote-buying, the megalomaniacal character of politicians, and the irresponsibility and blindness of bureaucracies generate a dangerous, unstable and explosive cocktail, continually shaken by social, economic, and political crises which, paradoxically, are always used by the political caste to justify further doses of intervention and statism that, instead of solving problems, further aggravate them. Statism therefore corrupts the entire social body and at the same time blocks the spontaneous and free market solutions of social and economic problems.In fact, the State has become the "idol" that almost everyone turns to and worships. Statolatry is the most serious and dangerous social disease of our time. We are educated to believe that all problems can and must be detected and solved by the State. Our destiny depends on the State, and the politicians who control it are expected to guarantee everything our well-being may require. Human beings remain immature and rebel against their own creative nature, which makes their future always uncertain. They demand a crystal ball that assures them not only knowing what will happen, but also that any problems that arise will be solved for them. This "infantilization" of the masses is encouraged by politicians, as it justifies their own existence and ensures their popularity, position of dominance, and capacity to control. In addition, a whole legion of intellectuals, so-called "experts," and social engineers join in this arrogant intoxication of power. Not even the Church and the most respectable religious denominations have been able to realize that statolatry today constitutes the principal threat to the free, moral, and responsible human being; that the State is a false idol of immense power, worshipped by all, and that does not allow Humanity to be free from its control or have moral or religious loyalties beyond those the state can dominate. Furthermore, it is kept hidden from the public that the state is the true source of social conflicts and evils, and "scapegoats" (such as "capitalism" or private property) are blamed for the problems, and they become the goal of the most serious condemnations, even from moral and religious leaders, almost none of whom have realized the deception or dared to denounce that statolatry is the main threat in the present century to religion, morality, and, therefore, to human civilization.Perhaps the main exception within the Church is included in the brilliant biography of Jesus of Nazareth written by Benedict XVI. That the State and political power constitute the institutional incarnation of the Antichrist should be obvious to anyone with a minimal knowledge of history who reads the former Pope's considerations on the most serious temptation that the Evil One can present to us (and I quote Ratzinger literally): "The tempter is not so crude as to propose to us directly the worship of the devil. He merely proposes that we opt for the rational solution, that we prefer a planned and organized world in which God may have a place as a private spiritual matter, but must not be allowed to interfere in our essential purposes. Soloviev attributes to the Antichrist a book entitled The Open Road to World Peace and Prosperity; it becomes the new Bible, and its core message is the worship of well-being and rational planning," by the state (Ratzinger, 2007). And so, we should not be surprised that, for example, the great author of The Lord of the Rings, J. R. Tolkien, whose Catholic anarchism I fully share, went so far as to say that he would arrest anyone for simply daring to pronounce the word "State." Because the State is, always and everywhere, a reality of violence and systematic coercion against the most intimate essence of the human being, which is his capacity to act freely, creatively, and spontaneously; and so, it is unavoidable to conclude that the State is essentially immoral and that statism constitutes the principal threat to humankind.A theological digression: the dismantling of statism as a logical necessity inseparable from the work of GodAnd almost without realizing it, we can go ahead with a theological digression on how dismantling the State is a logical and moral necessity inseparable from the work of God. I fully understand that referring to God in this conference may come as a shock to many of those present, but I would ask that even those who do not believe in God, at least for dialectical purposes, make an effort of imagination and, for the next few minutes, imagine that God does indeed exist.And what do we mean by God? We must understand God to be a Supreme Being, Creator out of love for all things. And the most important creature that God has created is precisely the human being: in His image and likeness. And if there is a point of connection between God and man, it is precisely in the creative entrepreneurial ability: the capacity to discover, to see, and to create new things, goals and actions. But now I am going to go one step further and attempt to demonstrate that God is not only the Supreme, loving Creator of all things, but that—moreover—God is libertarian.And what does it mean to say that God is libertarian? It means that God, the Lord of all the Universe, has absolute power over it, and yet He chooses not to use force, but always leaves his creatures free. To the point that He gives human beings the freedom to rebel against Him; even though, again and again, God forgives human beings and allows them to rise up and begin anew.God always lets the universe He has created, flow in a spontaneous manner ("laissez faire, laissez passer, le monde va de lui même" could be the motto of our libertarian God). And this despite the fact that human beings tempt God again and again and demand that He manifest His absolute power, that He give us clear and indisputable signs of His existence and supreme power in order for us to believe in Him. But of course, God does not accept our challenge. Why? Because love and liberty are inseparable, and a forced conversion, for example by an evident cataclysm, would be completely contrary to that liberty with which God has created human beings out of love.Moreover, the Kingdom of God is not of this world; Jesus himself says this to a fearful Roman state official, who was also in charge of judging him: "My kingdom is not of this world." Does this mean that there are two types of kingdoms? The kingdoms of this world or States, which would be legitimate at their own level (remember "render unto Caesar the things that are Caesar's"), and the Kingdom of God, of ("render unto God the things that are God's"). That is the standard interpretation that has prevailed until now, but I think is completely wrong. The Kingdom of God—which is the exact opposite of the kingdoms or States of this world—never makes systematic use of violence and coercion: it is a Kingdom that has already come to us and, moreover, has been given to us freely, in an act of immense mercy and love (Deus caritas est). And just as the hateful institution of slavery came to an end, the Kingdom of God will also dismantle the kingdoms of this world, the states of this world, or as St. Paul said, of every principality, power, and glory (Ephesians 1:21-23), because God is libertarian and man is made in the image and likeness of God.Ludwig von Mises, in his book Interventionism, introduced the term "destructionism" to refer to the economic and social effects of statism. If Evil (represented by statist destructionism in Mises' terminology) were to prevail, the human race and civilization would have disappeared long ago. The fact that, despite everything and the immense power of seduction of statism over humankind, the process of social cooperation continues to unfold and even prosper in certain historical periods and geographical areas, is a clear manifestation that God does not abandon the world nor leave libertarians alone in their struggle against the Evil; and that Good, represented by liberty, the principle of non-aggression, the spontaneous order of the market, entrepreneurial creativity and coordination, and above all, moral principles, always with God's help, prevails and is capable of overcoming Evil, represented by the fatal conceit of the statist ideal and the destruction that it produces.And now I will finish with some thoughts on anarcho-capitalism as the only possible system of social cooperation truly compatible with human natureAnd now I will finish with some thoughts on anarcho-capitalism as the only possible system of social cooperation truly compatible with human nature. The most important intellectual and moral event that is taking place nowadays is the full fusion between Christianity and anarcho-capitalism. Because anarcho-capitalism is the only possible system of social cooperation that is truly compatible with human nature. Anarcho-capitalism is the purest representation of the spontaneous market order in which all services, including law, justice, and public order, are provided through a voluntary process of social cooperation. In this system, no area is closed to the drive of human creativity and entrepreneurial coordination; efficiency and justice in the resolution of problems are simultaneously enhanced, while the conflicts, inefficiencies, and discoordinations generated by the State are eradicated at their root.The progressive abolition of States and their gradual replacement by a dynamic network of private agencies different legal systems, and providing all kinds of prevention and defense services, constitutes the most important social transformation that will take place in the twenty first century. Without forgetting that exactly what prevents us from knowing with precision what the future without the state will look like, the creative nature of entrepreneurship, is what gives us the peace of mind of knowing that any problem will tend to be resolved and overcome, once the entrepreneurial effort and creativity of Humanity are devoted to its solution (Kirzner, 1985).Therefore, the revolution against the “Old Régime” carried out in the eighteenth and nineteenth centuries by the old classical liberals, today finds its natural continuation in the anarcho-capitalist revolution of the twenty-first century. The message of anarcho-capitalism is clearly revolutionary. Revolutionary in terms of its goal: the dismantling of the State and its replacement by a competitive market process consisting of a network of private agencies, associations, and organizations. And revolutionary in terms of its means, especially in the scientific, economic-social, and political fields:a) First, Scientific revolution, in the field of Economic Science, which becomes the general theory of spontaneous market order extended to all social areas. And by contrast and opposition, the theory and analysis of the effects of social discoordination generated by statism in any sphere in which it operates, as well as the study of the transition process from the State towards liberty.b) Second, an Economic and social revolution, as we cannot even imagine today the immense human achievements and discoveries that could be made in an entrepreneurial environment totally free from statism. Today, and despite continuous governmental harassment, an unknown civilization is already developing, with a degree of complexity that is beyond the reach and control of the state, and which will achieve unlimited expansion once it manages to completely rid itself of statism. And when human beings become more and more aware of the perverse nature of the State that restricts them, and of the immense possibilities that are frustrated each day when the State blocks the driving force of their entrepreneurial creativity, the social demand to reform and dismantle the State will multiply creating a future that is largely unknown to us but that will elevate human civilization to heights that we cannot even imagine today.c) And finally, a political revolution in which, although day-to-day political struggle is important, it should not be the top priority. It is true that the least interventionist alternatives must always be supported, in clear alliance with the efforts of classical liberals in their long term impossible democratic limitation of the State (including reforms such as those proposed by Hayek in the third volume of Law, Legislation, and Liberty). But the anarcho-capitalist does not stop at this task, for he knows that he can and must do much more. He knows that the ultimate goal is the total dismantling of the State, and this goal leads all his imagination and political action in everyday life. And here we cannot fail to mention the unprecedented impact of our disciple and follower of our Master Program in Austrian Economics in Madrid, the President of Argentina, Javier Milei, who has done more than anyone else before to disseminate the principles of the Austrian School and the anarcho-capitalist ideal. Principles that he never ceases to quote and explain and defend once and again in all his public appearances, from the United Nations to the Davos Forum; and in all his meetings with other Heads of State, universities, and parliaments, to whom he even gives copies of the most important Austrian works by Mises, Hayek and even myself, as he did, for example, with the two popes, Francis and Leo XIV, with the French President Macron, the Italian Prime Minister Meloni, and even with Elon Musk. For us, it is a great honor that Milei has, to a large extent, emerged from the Austrian School of Madrid and that he continually keeps drawing inspiration from us. This is, without a doubt, much more important than incremental political steps in the right direction—which should of course be welcomed—and that should never fall into a political pragmatism that could betray the ultimate goal of achieving the end of the State (Huerta de Soto, 2010).And all this with tireless enthusiasm in the search for scientific and moral truth, an attitude that, inspired by the immortal work of Miguel de Cervantes, we could describe as follows: "It matters not whether they be giants or windmills, when the plume of our helm is stirred by the winds of tenacity and faith." And always creating a future that, although it may seem distant today, may at any moment witness giant steps that will surprise even the most optimistic among us. History has entered into an accelerated process of change which, although it will never stop, will open a whole new chapter when humankind finally succeeds in ridding itself definitively of the State, reducing it to no more than a dark historical relic of tragic memory.Thank you very much.REFERENCESBASTIAT, Frédéric: Selected Essays on Political Economy, Foundation for Economic Education, New York 1995.DE LA BOÉTIE, Étienne: The Politics of Obedience: The Discourse of Voluntary Servitude, Free Life Editions, Nueva York 1975.BÖHM-BAWERK, Eugen von: Karl Marx and the Close of His System, Augustus M. Kelley, Nueva York 1949."The Exploitation Theory," Capital and Interest, Vol. I: History and Critique of Interest Theories, Libertarian Press, South Holland 1959.HAYEK, Friedrich A. von: The Counter-Revolution of Science, Free Press, New York, 1955.Hayek on Hayek: An Autobiographical Dialogue (eds. Stephen Kresge and Leif Wenar), University of Chicago Press, Chicago 1994.Law, Legislation and Liberty, Vol. III: The Political Order of a Free People, Routledge & Kegan Paul, London 1979.The Fatal Conceit: the Errors of Socialism, The University of Chicago Press, Chicago 1988."The Pretence of Knowledge," in New Studies in Philosophy, Politics, Economics and the History of Ideas, University of Chicago Press, Chicago 1978.HUERTA DE SOTO, Jesús: Socialism, Economic Calculation and Entrepreneurship, Edward Elgar, Cheltenham y Northampton 2010."A Hayekian Strategy to Implement Free Market Reforms," in Theory of Dynamic Efficiency, Routledge, Oxfordshire, 2010.Proyecto Docente, Chapter I: "Ciencia y Economía," Rey Juan Carlos University, Madrid 2000.The Austrian School: Market Order and Creative Entrepreneurship, Edward Elgar, Cheltenham y Northampton 2008.DE JASAY, Anthony: Market Socialism: A Scrutiny, published by the Institute of Economic Affairs, Occasional Paper no. 84, 1990.KIRZNER, Israel: "The Perils of Regulation: A Market Process Approach" in Discovery and the Capitalist Process, University of Chicago Press, 1985.LIGGIO, Leonard: "The Hispanic tradition of Liberty," published in Procesos de Mercado: Revista Europea de Economía Política, vol. XXII, nº 1, Summer 2025, pp. 403-420.MARTÍNEZ MARINA, Francisco: Teoría de las cortes o grandes juntas nacionales de los reinos de León y Castilla, Collado, 1820.MILEI, Javier: Capitalism, Socialism, and the Neoclassical Trap, in The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume II (editors Howden, D., Bagus, P.), Palgrave Macmillan, Cham, 2023.MISES, Ludwig von: Socialism: An Economic and Sociological Analysis, Jonathan Cape, London 1936.Planned Chaos, Foundation for Economic Education, Irvington-on-Hudson 1947.OPPENHEIMER, Franz: The State, Vanguard Press, Nueva York 1926.POPESCU, Oreste: Studies in the History of Latin American Economic Thought, Routledge, London 1997.POPPER, Karl: The Open Society and its Enemies, Princeton University Press, Princeton 1966.RATZINGER, Joseph. Jesus of Nazareth: From the Baptism in the Jordan to the Transfiguration. Translated by Adrian J. Walker. Doubleday, New York, 2007.ROTHBARD, Murray N.: "New Light on the Prehistory of the Austrian School," in The Foundations of Modern Austrian Economics (editor Edwin G. Dolan), Sheed and Ward, Kansas City 1976, pp. 52–74.Anatomy of the State, Ludwig von Mises Institute, Auburn 2009.SALERNO, Joseph. "Milton Friedman's Views on Method and Money Reconsidered in Light of the Housing Bubble", in The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume I, (editors Howden, D., Bagus, P.), Palgrave Macmillan, Cham, 2023.STIGLER, George: The Citizen and the State, University of Chicago Press, Chicago, 1975, pp. 1-13.

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened down 69-points this morning from yesterday's close, at 34,279 on turnover of 8.2-billion N-T. The market rose by more than 500 points on Wednesday, as buying was triggered by lingering enthusiasm toward global A-I development, which pushed up tech stocks higher. KMT and TPP approve cooperation pact for local elections The K-M-T and the Taiwan People's Party have approved a cooperation agreement for November's local elections. The agreement was separately passed by the K-M-T Central Standing Committee and the T-P-P's Central Committee and means that two party's will jointly field (選派…上場) candidates. Under the pact's "nominate first, coordinate later" model, the two parties will prioritize incumbent mayors or county magistrates seeking re-election. A joint KMT-TPP campaign group will also be established to support candidates nationwide. CPC absorbs NT$3.3 billion in fuel costs amid Middle East tensions The Ministry of Economic Affairs says C-P-C has absorbed about 3.3-billion N-T in fuel costs over the past two weeks to help stabilize domestic prices due to the US-Isreal war with Iran. According to Vice Economics Minister, Lai Jien-hsin, the government has been prioritizing price stability as global energy supplies face disruptions (破壞) from the conflict. Under a price-stabilization mechanism, C-P-C absorbs at least 60-per cent of cost increases while keeping domestic fuel prices among the lowest in neighboring markets. Saudi Arabia Criticizes Iran After Overnight Attacks Saudi Arabia's foreign minister offered harsh criticism Thursday of Iran following overnight attacks on his country, saying: “What little trust there was before has completely been shattered.” Prince Faisal bin Farhan offered the comments after a meeting between foreign ministers of the Gulf Arab states and others over the Iranian attacks targeting the wider Middle East. He criticized Iran's attacks on Riyadh, the capital hosting the meeting. Iran also attacked Saudi Arabia's vast Eastern Province, home to many of its oil fields, as well as Kuwait, Bahrain and the United Arab Emirates. The minister says Saudi Arabia will use "every lever (手段，把柄)", "political, economic, diplomatic and otherwise, to get these attacks to stop”. US Lawmakers Demand Answers from Attorney General Over Epstein Files A US congressional committee is demanding that the US Attorney General face questions over her handling of the Epstein files, a move the Justice Department is pushing back (反對) on. Mitch McCann reports: World Happiness Report: Decline in Happiness Due to Social Media The latest World Happiness Report 2026 says that heavy social media use has contributed to a stark (嚴重的 ) decline in well-being among young people, with the effects particularly worrying in teenage girls in English-speaking countries and Western Europe. The annual report, published by the Wellbeing Research Centre at the University of Oxford, also found that Finland is the happiest land in the world for the ninth year in a row. Other Nordic countries such as Iceland, Denmark, Sweden and Norway ranked among the top 10 countries. But it highlighted how life evaluations among under 25-year-olds in the United States, Canada, Australia and New Zealand have dropped over the past decade. That was the I.C.R.T. EZ News, I'm _____. －－－－以下為 SoundOn 動態廣告－－－－ Hola! 雄獅文具「作繪來野餐」4/18-19 熱情登場！✨ 走進墨西哥森林派對，享受美學創作、墨式美食與音樂演奏。 今年加開

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened marginally higher this morning from yesterday's close, at 35,106 on turnover of 8.9-billion N-T. The market lost ground on Monday, as investor sentiment took a dive on the back of concerns about global oil prices after the U-S and Israel attacked Iran over the weekend. MOEA talks boosting energy imports due to Middle East tensions The Ministry of Economic Affairs says it plans to increase energy imports in response to the current situation in the Middle East. According to the ministry, it will diversify import sources and strengthen energy supply security. The ministry says although the conflict is effecting some shipments oil and gas import coming through the Strait of Hormuz, short-term energy shipment arrivals remain unaffected and long-term contingency plans are in place to maintain a stable power supplies. The economic ministry's statements come as Premier Cho Jung-tai has been meeting with senior government officials for talks on the impact of higher international oil prices. Cho says C-P-C has been asked to ensure uninterrupted supplies, and Vice Premier Cheng Li-chiun will convene a series of price stabilization meetings. Man detained over Taipei Main Station bomb and death threats A man has been ordered detained following his arrest for allegedly sending threats in late February to set fires, plant bombs and kill people at Taipei Main Railway Station. Prosecutors say they secured court approval to detain the Changhua County resident - who police say admitted making the threats due to stress and being in a bad mood. The Taiwan Railway Corporation and the Taiwan High Speed Rail Corporation received separate threats on February 25 and 26, respectively. Police heightened security measures as the threats were made just ahead of the 228 Memorial Day long weekend holiday. The suspect was arrested following a raided (襲擊) his residence on the night of February 27 and taken into custody. He is facing charges of public intimidation. Trump: Iran operations to last 4 to 5 weeks or "far longer" US president Donald Trump says American operations against Iran could last four to five weeks, but warned the US had the capability to go "far longer than that". He promised Washington would "prevail" (戰勝) after news that a fourth US service member has died. Nick Harper reports from Washington. Cuba Detains Panama Citizens for Propaganda Cuba's government says it has detained 10 Panamanian citizens it accused of creating subversive propaganda in the latest international incident involving the Caribbean island. Monday's announcement comes just days after a fatal shooting involving a U.S. boat in Cuban waters. The government said that according to initial statements from those detained, the Panamanians were ordered to leave Cuba “once the objective was achieved,” and that they would receive between $1,000 and $1,500 each upon their return. Officials did not provide further details, including the nature of the alleged (被指控的，據稱) propaganda. That was the I.C.R.T. EZ News, I'm _____. -- Hosting provided by SoundOn

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened marginally higher this morning from yesterday's close, at 33,086 on turnover of 12.1-billion N-T. The market ended at a high of just over 33,000 points on Tuesday as Taiwan Semiconductor Manufacturing registered strong gains after its American depositary receipts closed at a record price overnight. MOEA sets aside NT$30 billion to cushion auto industry amid US tariff deal The Ministry of Economic Affairs has set aside 30-billion N-T to support Taiwan's automobile industry as it prepares for changes to tariffs under a Taiwan-US trade agreement, According to Economics Minister Kung Ming-hsin, initial assessments indicate that the impact on domestic industrial output could exceed (超過) 1-per cent but will remain "manageable." Kung says the funding will help the automobile and auto parts industry absorb (吸收)shocks, advance transformation and upgrading, and strengthen independent research and development and exports. Kung also says any tariff arrangements will apply only to US-made vehicles and such vehicles will be defined only if they meet country of origin and value-added content requirements consistent with existing international standards. Population declines for 25th consecutive month The Ministry of the Interior says the island's population fell for a 25th consecutive month in January -- with the number of live births falling by 304 from December of 2025. According to the latest data, as of the end of January, the population totaled 23,289,045, down 10,087 from December. A total of 8,723 babies were born in January, 304 fewer than in December and 772 fewer than a year earlier. The interior ministry says that translates to roughly one birth every 5.1 minutes and an annual crude birth rate (粗出生率) of 4.41 per 1,000 people. Deaths totaled 17,529 in January, or about one every 2.5 minutes and the crude death rate was 8.86 per 1,000 people White House defends Trump Canada bridge attack The White House has defended US President Donald Trump's threat to block the opening of the Gordie Howe International Bridge connecting Ontario with Michigan. Trump has told Canada his administration needs to be "fully compensated for everything", despite (儘管) both countries co-owning the bridge. Nick Harper reports from Washington on the White House press secretary Karoline Leavitt's comments. Chile Launches OpenSource AI Language Model for Latin American Culture Chile has launched the first open-source AI language model trained on Latin American culture. Called Latam-GPT, the two-year effort is led by Chile's National Center of Artificial Intelligence and supported by over 30 institutions. It aims to reflect regional realities in AI. Chilean President Gabriel Boric emphasized the importance of Latin America's role in the AI revolution. Latam-GPT, announced at the February 2025 Artificial Intelligence Action Summit in Paris, addresses linguistic biases (語言的偏誤) in models trained mainly on English data. It uses Latin American data and will initially operate in Spanish and Portuguese, with plans to include Indigenous languages later. That was the I.C.R.T. EZ News, I'm _____. －－－－以下為 SoundOn 動態廣告－－－－ 第十屆法藍瓷想像計畫：熱血開跑！

As US cuts import tariffs on many Indian goods to 18% from 50%, Moneycontrol reporters examined the implications from all angles. From the Rupee's strong gain, to how investors should respond, to tracing the contours of the India-US deal, and what Indian exports can expect a rebound - read it all on Moneycontrol.com. Also inside: Department of Economic Affairs secretary Anuradha Thakur exclusive interview, our reports on Religare Enterprises likely demerger and the buzz around NSE's much awaited IPO.

COPYRIGHT NDR Live, off-air, two-hour recording of the special annual Gruss an Bord program from German broadcaster NDR, Norddeutscher Rundfunk, on 24 December 2025. Gruss an Bord features music and greetings to and from mariners around the world. The Christmas greetings were recorded at an event in Hamburg.Relatives and friends had the opportunity to wish their loved ones at sea a happy holiday and a happy new year. The Hamburg event was recorded on the third Sunday of Advent, 14 December, in the Duckdalben International Seamen's Club and was hosted by Susanne Stichler. The program included a number of special guests including Bishop Kirsten Fehrs; Hamburg's Senator for Economic Affairs, Melanie Leonhard; the Federal Government's Maritime Coordinator, Christoph Ploß; and Vice Admiral Axel Deertz. Music was provided by the folk music duo of Frank Grischek and Ralf Lübke. The broadcast was primarily in German, however there were several minutes in English when Filipino seamen were interviewed and some of the songs had English lyrics.In addition to being carried on the NDR Info and NDR Info Spezial networks, the broadcast was transmitted around the world on shortwave using transmitters at Nauen, Germany; Issoudun, France; Tashkent, Uzbekistan; and Okeechobee, Florida, U.S.A.; and was organized by Media Broadcast.The scheduled frequencies (kHz) were: 6030 (via Issoudun) for the Northeast Atlantic, 6080 (via Tashkent) for Europe, 9635 (via Nauen) for the Indian Ocean, 11650 (via Issoudun) for the Atlantic and Indian Oceans, 13830 (via Nauen) for the Southern Atlantic, and 15770 (via Okeechobee) for the Northwest AtlanticMonitors reported that the program did not air on 9635 or 11650 kHz.This recording was made in Hanwell (just outside Fredericton), New Brunswick, Canada. It is of the transmission on the frequency of 15770 kHz for the full two hours.The recording was made primarily using a Belka-DX receiver in pseudo-synchronous (AM2) mode with a bandwidth of 50 Hz - 2.7 kHz outdoors with a Tecsun AN-03L 7-metre wire antenna Reception was quite good for the most part with a bit of fading at times. But that receiver was initially tuned to 13830 kHz with a weaker signal. However, 15770 kHz was being recorded simultaneously with a KiwiSDR 2 software-defined radio receiver in narrow AM (AMN) mode with noise cancelling and with a W6LVP indoor magnetic loop antenna. So, the recording here has about a 4-1/2-minute splice from the KiwiSDR receiver at the beginning with the remainder of the recording from the Belka-DX receiver. A few seconds of the end of the program are missing as WRMI cut over to other programming before the complete end of the program.

Does the negotiator of Britain's exit from the EU accept Brexit has failed? What in Liz Truss's disastrous mini budget does he still endorse? What are his plans to revive the think tank that gave us Thatcherism? In this episode, Steph and Robert sit down with Lord David Frost - the Brexit negotiator turned head of the Institute of Economic Affairs. They examine whether his climate “realism” is in fact climate denialism and his arguments that the British state has grown too big, too intrusive, and too expensive Email: ⁠⁠the⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠restismoney@goalhanger.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@TheRestIsMoney⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@TheRestIsMoney⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@RestIsMoney⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Joining Iain Dale on Cross Question are the Conservative Shadow Cabinet minister Andrew Bowie, Labour MP Helena Dollimore, barrister and broadcaster Hashi Mohamed, and the Institute of Economic Affairs think-tank's Reem Ibrahim.

Would a military intervention from Trump help or hinder the Iranian protesters' cause?Joining Iain Dale on Cross Question are the Conservative Shadow Cabinet minister Andrew Bowie, Labour MP Helena Dollimore, barrister and broadcaster Hashi Mohamed, and the Institute of Economic Affairs think-tank's Reem Ibrahim.

Immigrants significantly benefit the U.S. economy by growing the labor force, filling essential jobs in sectors like services, construction, and tech. In this episode, panelists discuss the effects of recent refugee and immigration policy developments on the U.S. economy.   Background Reading: This article outlines the critical role immigrants have long played in boosting the U.S. economy and GDP. This article highlights how the second Trump administration has ramped up immigration enforcement, putting pressure on federal, state, and local agencies to meet the president's deportation goals.   Host: Nelson W. Cunningham, Former President, McLarty Associates; Former Senior Advisor for Economic Affairs, U.S. Department of State; Former Special Advisor on Western Hemisphere Affairs; CFR Member   Guests: Steven A. Camarota, Director of Research, Center for Immigration Studies   Andrea R. Flores, Founder, America's Promise   Pia Orrenius, Vice President and Senior Economist, Federal Reserve Bank of Dallas   Want more comprehensive analysis of global news and events sent straight to your inbox? Subscribe to CFR's Daily News Brief newsletter. To keep tabs on all CFR events, visit cfr.org/event. To watch this event, please visit it on our YouTube channel: Immigration Policy and the U.S. Economy

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened up 10-points this morning from yesterday's close, at 30,370 on turnover of $6.5-billion N-T. FDA announces recall of Nestle formula powder over potential contamination The Food and Drug Administration says Nestle has preemptively recalled 83,496 cans of baby formula powder over potential contamination (污染) of the toxin cereulide. The move comes amid a global recall of the food company's baby formula products earlier this week. According to the F-D-A, Nestle Taiwan self-reported that two batches of its products sold in Taiwan may have used potentially contaminated ingredients. Those products are batches (批次) of it Illuma Infant Growth Formula and Illuma Toddler Growth Formula. Nestle Taiwan says it initiated voluntary recalls as a precaution to safeguard consumer health and safety. The company says it has lso set up a dedicated hotline to handle returns and exchanges. The F-D-A is urged consumers who have purchased the products to stop consumption and return the product. MOEA updates guidelines for foreign students interning in Taiwan The Ministry of Economic Affairs has updated guidelines to protect the rights of foreign students interning in Taiwan. The updated Guidelines Governing the Application of Foreign Students to the ROC in the Capacity of Interns in Enterprises and Organizations includes clearer rules on student eligibility, internship stipends and working hours. Under the revised rules, students must be enrolled (已註冊) at overseas universities officially listed by the Ministry of Education, the and the economic ministry's Department of Investment Review. Students must have completed at least one semester of study before coming to Taiwan and be of an age appropriate for their program. They must also be studying a field related to their internship and have basic Chinese or English communication skills to ensure the quality and effectiveness of the internship. US Withdraws from dozens of international bodies and organisations The United States is withdrawing from dozens of international organizations and bodies, many of which are associated with the United Nations, in the latest sign of Washington stepping back from multilateralism (多邊主義). Mitch McCann reports: Philippines Garbage Mound Collapse Leaves Dead and Missing A huge mound of garbage has collapsed in a waste segregation facility in a central Philippine city, killing one person and leaving at least 27 others missing. Police say that firefighters and disaster-mitigation personnel retrieved eight people, including workers at the facility, who were trapped (被困) Thursday afternoon in the avalanche of trash and debris in the village of Binaliw in Cebu city. Local officials say one of those rescued, a female worker at the landfill, died while being brought to a hospital. Authorities and officials at the waste management facility, which has 110 employees, are to hold an emergency meeting today UN Forecasts Global Growth Slightly Lower This Year The United Nations is forecasting that the global economy will grow by 2.7% this year. That's slightly lower than last year's estimate, citing the impact of higher U.S. tariffs, economic uncertainties and geopolitical tensions. U.N. economists predict that growth will edge up to 2.9% in 2027. That's still well below the average 3.2% growth between 2010 and 2019, before the COVID-19 pandemic hurt economies around the globe. The U.N. economists say there was “unexpected resilience" to sharp increases in U.S. tariffs last year. They are pointing to solid consumer spending and easing inflation, which helped sustain (維持) growth.. That was the I.C.R.T. EZ News, I'm _____. -- Hosting provided by SoundOn

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened down 104-points this morning from yesterday's close, at 30,330 on turnover of 12-billion N-T. The market lost ground on Wednesday, as Taiwan Semiconductor Manufacturing pulled back on profit taking after hitting a record closing level a session earlier - but the main board remained above the 30,000 point mark. Air Force to call on US to speed-up collision-avoidance system work following F-16V incident The Air Force is urging the U-S to expedite work to install automatic ground collision avoidance systems on its F-16V fighter jets and hopes the process (過程) can be completed sooner than initially planned. It comes after an F-16V jet went missing off of Hualien on Tuesday evening. Authorities are still searching for the missing aircraft and its pilot. The incident has led to concerns about the speed in which automatic ground collision avoidance systems are being installed on Taiwan's F-16Vs. The project was initially slated for completion in 2028. However, the Air Force says it now hopes it can completed by the end of this year. Subject: E*MOEA gives final approval for Nvidia's Taipei headquarters Return to Table of contents The Taipei City Government says the Ministry of Economic Affairs has given its final approval for Nvidia to build its overseas headquarters at the Beitou-Shilin Technology Park. Nvidia is now set to submit its investment proposal to the city government later this month. Nvidia C-E-O Jensen Huang is expected to visit Taiwan later this month to attend (出席) the signing ceremony. The Nvidia headquarters will be designed by local architect Kris Yao. Yao's previous projects include the China Steel Corporation Headquarters in Kaohsiung and the Southern Branch of the National Palace Museum in Chiayi. WH: US has started marketing Venezualan oil on the global marketplace The White House says the US has already started marketing Venezuelan oil in the global marketplace. It comes as President Trump says Venezuela has agreed to make up to 50 million barrels of crude (原油) available to the US. Jagruti Dave has more from Washington Canada PM to Visit China Next Week Canadian Prime Minister Mark Carney will visit China next week where he will meet with Chinese President Xi Jinping as Canada looks to reduce its reliance (依賴) on the United States. The visit, announced on Wednesday, is the first to China by a Canadian prime minister in more than eight years. Xi invited Carney to China when they met during an Asia-Pacific summit last fall and it comes as the two countries move to restore stronger ties after years of tensions. Carney will travel to China from Jan. 13 to 17. EU Snow and Ice Hampering Travel Snow and ice are hampering travel in parts of Europe as flights have been grounded and roads clogged (堵塞). More than 1,000 passengers spent the night at Amsterdam's airport as staff worked to clear snow from runways. At least 800 flights were canceled at the airport on Wednesday. France's weather service has issued alerts for snow and black ice. People were urged to work from home. Swedish and Finnish cities also faced disruptions with trams and buses halted. That was the I.C.R.T. EZ News, I'm _____. -- Hosting provided by SoundOn

China is accelerating its push toward a consumption-led economic model, with policymakers identifying the expansion of domestic demand as the key driver of GDP growth during the 15th Five-Year Plan period (2026-30), economists and officials said.经济学家和相关官员表示，中国正加快向消费主导型经济模式转型，政策制定者已明确将扩大内需列为 “十五五” 规划时期（2026-2030 年）国内生产总值增长的核心驱动力。Following the tone-setting Central Economic Work Conference, which prioritized domestic demand for 2026, experts noted a strategic transition: China is moving beyond simple volume growth toward "structural optimization". This involves leveraging fiscal tools to boost household incomes and specifically targets the high-growth services sector to buffer against external uncertainties.在为 2026 年经济工作定调、并将扩大内需列为重点任务的中央经济工作会议召开后，专家指出中国正迎来战略转型：经济发展正从单纯的规模增长转向 “结构优化”。这一转型包括运用财政工具提振居民收入，并重点瞄准高增长的服务业，以抵御外部环境的不确定性。An official from the Office of the Central Committee for Financial and Economic Affairs confirmed that Beijing will roll out concrete plans to boost household incomes and raise basic pensions while increasing the supply of high-quality products and services and also removing unreasonable restrictions to fully unlock consumption potential.中央财经委员会办公室的一位官员证实，国家将出台具体方案，在提高居民收入、上调基本养老金的同时，增加优质产品和服务供给，消除不合理限制，以充分释放消费潜力。Experts see this policy stance as a signal for significant growth in specific areas, and express optimism about the long-term potential of China's consumer market.专家认为，这一政策立场预示着部分特定领域将迎来大幅增长，并对中国消费市场的长期潜力持乐观态度。Wang Wei, a senior researcher at the Development Research Center of the State Council, said at a recent forum hosted by China News Service: "China's consumption growth maintains strong momentum and ample potential. Emerging areas such as digital services, green technology and health-related demand are expected to become the primary engines of the consumer market."国务院发展研究中心资深研究员王伟在近期由中国新闻社主办的一场论坛上表示：“中国消费增长势头强劲、潜力充足。数字服务、绿色科技以及健康相关需求等新兴领域，有望成为消费市场的核心增长引擎。”Official data support this structural divergence. According to the National Bureau of Statistics, retail sales of services climbed 5.4 percent year-on-year in the first 11 months of 2025, outpacing the overall retail growth of 4 percent.官方数据印证了这一结构性分化趋势。国家统计局数据显示，2025 年前 11 个月，服务业零售额同比增长 5.4%，增速高于整体零售 4% 的同比增幅。Chen Lifen, a researcher at the DRC, described the current phase as a critical evolution from a goods-dominated model to one that balances goods and services, with a long-term trajectory toward a services-led structure.国务院发展研究中心研究员陈丽芬表示，当前阶段正处于关键转型期，经济模式正从商品主导型转向商品和服务均衡型，长期来看将朝着服务主导型结构迈进。"As income levels rise, demand for services, which typically have high income elasticity, naturally increases its share of total wallet spending," Chen said, adding that with basic needs largely met, the "quality upgrade" is driving capital toward personal development, leisure and smart home ecosystems.陈丽芬指出：“随着居民收入水平提升，收入弹性较高的服务类需求在居民总消费中的占比自然会上升。” 她补充道，在基本需求得到充分满足的背景下，“品质升级” 正推动资本流向个人发展、休闲娱乐以及智能家居生态等领域。The shift is already reshaping corporate investment strategies as companies move to capture these high-quality demand pockets.这一转型已经在重塑企业的投资策略，企业纷纷布局以抢占这些高品质需求市场。Fang Xing, a vice-general manager at Ping An Property & Casualty Insurance, highlighted the surging "pet economy" — now valued at approximately 300 billion yuan ($42.81 billion). With veterinary costs often exceeding 10,000 yuan for major procedures, financial institutions are developing specialized insurance products to hedge these rising household costs.平安产险副总经理方兴特别提到了蓬勃发展的 “宠物经济”，其市场规模目前已达约 3000 亿元人民币（合 428.1 亿美元）。由于宠物重大诊疗项目的费用往往超过 1 万元，金融机构正研发专项保险产品，帮助家庭对冲这类不断上涨的支出。Similarly, in the manufacturing sector, the focus has shifted from scale to efficiency. Guo Yanhu, a director with Gree Electric Appliances, said consumer demand for green energy is driving research and development. He cited Gree's investment in AI-driven energy systems — which has boosted efficiency by over 25 percent — as a direct response to both domestic eco-targets and demand from overseas markets.无独有偶，制造业的发展重心也从规模转向了效率。格力电器董事郭彦虎表示，消费者对绿色能源的需求正驱动企业加大研发投入。他举例称，格力对人工智能驱动能源系统的投资，使能效提升超 25%，这一举措既是对国内生态目标的响应，也是对海外市场需求的直接对接。Economists emphasize that sustaining this momentum requires institutional reforms. Su Jian, a professor at the School of Economics at Peking University, said expanding "high-quality demand" requires a virtuous cycle where new products help cultivate new demand, while cost-reducing innovations allow new demand to scale.经济学家强调，要维持这一增长势头，必须推进制度改革。北京大学经济学院教授苏剑表示，扩大 “高品质需求” 需要形成良性循环：新产品助力培育新需求，而降本创新则为新需求的规模化发展提供支撑。While fiscal and monetary policies are essential to expand demand, Su said expanding high-quality demand depends on developing new quality productive forces through product innovation and process innovation.苏剑指出，尽管财政和货币政策对扩大需求至关重要，但扩大高品质需求的核心在于通过产品创新和工艺创新，培育新质生产力。Luo Zhiheng, chief economist at Yuekai Securities, added that boosting consumption during the 15th Five-Year Plan period is a strategic choice rather than a short-term policy response.粤开证券首席经济学家罗志恒补充道，“十五五” 期间提振消费是一项战略抉择，而非短期的政策应对措施。"Key to raising the household consumption rate will be improving income distribution, strengthening social security and widening market access. These are the fundamental levers to converting potential demand into actual economic activity," Luo said.罗志恒表示：“提高居民消费率的关键在于完善收入分配、强化社会保障以及拓宽市场准入。这三项举措是将潜在需求转化为实际经济活动的根本抓手。”consumption /kənˈsʌmpʃn/ 消费domestic /dəˈmestɪk/ 国内的；家庭的innovation /ˌɪnəˈveɪʃn/ 创新elasticity /ˌiːlæstɪˈsɪəti/ 弹性

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China's efforts to scale up effective investment, with a particular focus on encouraging private sector participation and increasing investment in human capital, will play a key role in boosting domestic demand next year, officials and experts said.政府工作人员和专家表示，中国扩大有效投资的举措，特别是鼓励民营企业参与和增加人力资本投资，将在明年提振内需方面发挥关键作用。The annual Central Economic Work Conference, held earlier this month, emphasized the need to "halt the decline in investment and promote its recovery" amid a complex external environment.本月早些时候召开的年度中央经济工作会议强调，在复杂的外部环境下，必须“遏制投资下滑趋势，促进投资回升”。The government needs to effectively drive investment by making good use of funding sources such as central government budget investments, ultra-long-term special treasury bonds and local government special bonds, Xinhua News Agency quoted an official of the Office of the Central Commission for Financial and Economic Affairs as saying.新华社援引中央财经委员会办公室一位政府工作人员的话称，政府需要有效利用中央财政预算投资、超长期国债和地方政府专项债券等资金来源，有效引导投资。"The government will support private firms' participation in major projects in sectors such as railways and nuclear power, and guide private investment toward new fields such as high-tech industries and the service sector," the official said.该工作人员表示：“政府将支持民营企业参与铁路、核电等领域的大型项目，引导民营资本投向高新技术产业、服务业等新兴领域。”The official added that major projects set for the 15th Five-Year Plan (2026-30) period could be front-loaded where conditions permit.该工作人员补充说道，在条件允许的情况下，原定于第十五个五年计划（2026-2030年）期间实施的重大项目可提前启动。China's fixed-asset investment fell 2.6 percent year-on-year in the first 11 months of the year, according to the National Bureau of Statistics.国家统计局数据显示，今年前11个月，中国固定资产投资同比下降2.6%。China has rolled out a series of targeted policies over the past year, including an 800 billion yuan ($113.8 billion) list of key projects to implement major national strategies and strengthen security capacity in key areas, and 500 billion yuan in new policy-based financial tools to supplement project capital.过去一年，中国推出了一系列定向政策，包括8000亿元（1138亿美元）重点项目清单，以落实重大国家战略、强化重点领域安全保障能力，以及5000亿元新增政策性金融工具，用于补充项目资本金。The economic agenda-setting meeting also called for greater investment in physical assets and human capital.经济议程设定会议还呼吁加大对实物资产和人力资本的投资力度。From the country's sprawling highway networks and bullet trains to its forest of urban high-rises, investment in physical assets played a crucial role in its economic growth over the past decades, said Yu Chunhai, executive dean of Renmin University of China's School of Economics.中国人民大学经济学院执行院长于春海指出，从遍布全国的高速公路网络和高铁系统，到城市摩天大楼林立的景象，过去数十年来，实物资产投资在推动中国经济增长方面发挥了关键作用。However, Yu noted that the country'sincremental capital output ratio, which indicates the amount of capital required for every 1 yuan increase in GDP, increased from 2.84 in 2008 to 9.44 in 2023.然而，于春海指出，中国的边际资本产出比（即每增加1元GDP所需投入的资本量）从2008年的2.84上升至2023年的9.44。Meanwhile, facing diminishing returns from the old growth model and a global shift toward talent-centric competition, China is placing a strategic bet on investing in people, analysts said.与此同时，面对传统增长模式回报递减以及全球向人才竞争格局转变的趋势，中国正将战略重心转向人才投资，分析师指出。Investment in human capital refers to inputs that develop people's capabilities and unlock their potential at all stages of life, including childcare, elderly care, health, education and skills training.人力资本投资指在人生各个阶段提升个人能力、释放潜能的投入，包括儿童保育、老年护理、健康保障、教育培养及技能培训。An aging population and rising labor costs are eroding the traditional demographic advantage. By prioritizing investment in human capital, China seeks to build long-term economic competitiveness for innovation-driven, demand-led growth, said Chen Wenling, former chief economist at the China Center for International Economic Exchanges.中国国际经济交流中心前首席经济学家陈文玲指出，老龄化人口和不断上升的劳动力成本正在侵蚀传统的人口红利优势。通过优先投资人力资本，中国致力于构建长期经济竞争力，推动创新驱动、需求引领的增长模式。"A healthier, better-educated and more secure workforce is the most critical infrastructure for the next stage of China's development," Chen said. "Sustained investment in people's capabilities, health and career development doesn't just improve well-being—it directly fuels economic upgrading."陈文玲表示：“更健康、受教育程度更高、更有保障的劳动力队伍，是中国下一阶段发展最关键的基础设施。持续投资于人民的能力、健康和职业发展，不仅能提升福祉，更能直接推动经济升级。”Meanwhile, analysts believe that investing in people could also help unlock the spending power of China's massive population, creating a virtuous cycle in which social investment fuels consumption resilience.与此同时，分析人士认为，投资于人力资本也有助于释放中国庞大人口的消费潜力，从而形成良性循环，社会投资推动消费韧性增强。The enhanced investments in pensions, childcare and healthcare are designed to alleviate theprecautionary savings burdens that constrain household spending, said Luo Zhiheng, chief economist and head of the research institute at Yuekai Securities.粤开证券首席经济学家兼研究院院长罗志恒表示，加大养老、育儿和医疗领域的投资力度，旨在缓解制约家庭支出的预防性储蓄负担。"This approach transforms social spending into a powerful economic driver. A more secure population is likely to spend more freely," Luo said. "The direction aligns with China's broader economic objectives of rebalancing growth toward high-quality domestic demand."罗志恒表示：“这种做法将社会支出转化为强有力的经济驱动力。生活更有保障的人群往往更愿意消费。该方向与中国更广泛的经济目标相契合，即推动经济增长向高质量的内需转型。”incrementaladj./ˌɪŋ.krəˈmen.t̬əl/递增的precautionaryadj./prɪˈkɑː.ʃən.er.i/预防性的

China has been implementing targeted pro-consumption measures to spur immediate spending while advancing structural reforms to unlock sustainable consumption growth, as the country moves toward a more balanced growth model anchored by its vast domestic market, economists said.经济学家指出，中国正实施有针对性的促进消费措施以刺激即时支出，同时推进结构性改革以释放可持续消费增长潜力。随着中国朝着以广阔国内市场为支撑的更均衡增长模式迈进，这些举措将发挥关键作用。They said that a robust and expanding consumer base not only powers China's high-quality development, but also provides a stabilizing force for the global economy amid fluctuating external demand and geopolitical complexities.他们指出，庞大且不断扩大的消费群体不仅推动着中国的高质量发展，更在全球外部需求波动和地缘政治复杂化的背景下，为世界经济提供了稳定力量。At the annual Central Economic Work Conference held last week, Chinese policymakers placed "boosting domestic demand" first among eight key priorities on the economic agenda for next year.在上周召开的年度中央经济工作会议上，中国决策者将“扩大内需”列为明年经济议程八大重点任务之首。President Xi Jinping pointed out in an article published on Monday in Qiushi Journal, the flagship magazine of the Communist Party of China Central Committee, that expanding domestic demand is crucial not only for economic stability but also for economic security. It is not a temporary measure, but a strategic move, he said.习近平主席在周一发表于中共中央机关刊物《求是》杂志的文章中指出，扩大内需不仅关乎经济稳定，更关乎经济安全。他强调，这并非权宜之计，而是战略举措。Xi, who is also general secretary of the CPC Central Committee, called for accelerating efforts to address weaknesses in domestic demand, especially consumption, to make domestic demand the main driving force and stabilizing anchor for economic growth.习近平同时担任中共中央总书记，他呼吁加快解决国内需求薄弱环节，特别是消费领域的问题，使国内需求成为经济增长的主要驱动力和稳定锚。Robert Koopman, former chief economist of the World Trade Organization, said that over the next five to 10 years, "an important evolution in China's role is going to be to shift toward being a big center of demand".世界贸易组织前首席经济学家罗伯特·库普曼表示，未来五到十年间，“中国角色将发生重要演变，逐步转向成为重要的需求中心”。Analysts said that targeted measures to stimulate consumption remain necessary in the near term, as the latest data points to slowing growth of retail sales. In November, total retail sales of consumer goods, a gauge of consumption, registered a year-on-year increase of 1.3 percent, down 1.6 percentage points compared with October, according to the National Bureau of Statistics.分析师指出，鉴于最新数据显示零售额增速放缓，短期内仍需采取有针对性的措施刺激消费。国家统计局数据显示，作为消费风向标的11月社会消费品零售总额同比增长1.3%，较10月增速回落1.6个百分点。On Sunday, the Ministry of Commerce, along with the People's Bank of China, which is China's central bank, and the National Financial Regulatory Administration, jointly released a document pledging stronger financial support for consumer spending.周日，商务部联合中国人民银行（中国央行）和国家金融监督管理总局共同发布文件，承诺将加大对消费支出的金融支持力度。In the document, financial institutions were encouraged to refine their services for consumption on big-ticket goods, while for the services sector, the document emphasized innovative financial products targeting industries such as elderly care, catering, tourism and education.该文件鼓励金融机构完善针对大宗商品消费的服务，同时强调服务行业应推出创新金融产品，重点面向养老、餐饮、旅游和教育等领域。Dong Ximiao, chief researcher at Merchants Union Consumer Finance Co, said that front-loading of such support weeks before the new year is designed to secure early economic momentum and set a positive trajectory for 2026.招商银行消费金融公司首席研究员董希淼表示，在新年到来前数周提前推出此类支持措施，旨在确保经济早日获得动能，为2026年奠定积极发展轨迹。In particular, the move, launched ahead of the Spring Festival shopping season in mid-February, signaled a strategic effort to harness the year's peak consumption period, Dong added.董希淼补充道，这项举措特别选在二月中旬春节购物季前启动，标志着企业正采取战略性举措，力求把握年度消费高峰期。Analysts view the latest move as part of a calibrated "one-two punch" for consumption, pairing targeted financial support with extended trade-in programs through 2026.分析师认为，此番举措是刺激消费的精心策划的“组合拳”，将定向金融支持与延长至2026年的以旧换新计划相结合。Han Wenxiu, executive deputy director of the Office of the Central Commission for Financial and Economic Affairs, told a news conference on Saturday that China should "adapt to the evolving consumption structure by expanding the supply of high-quality goods and services, and optimize the implementation of the trade-in policies".中央财经委员会办公室副主任韩文秀周六在记者会上表示，中国应“通过扩大优质商品和服务供给适应消费结构变化，优化以旧换新政策实施”。According to data from the Ministry of Commerce, from January to November this year, trade-in programs pushed sales of related goods beyond 2.5 trillion yuan ($355 billion), benefiting more than 360 million people.据商务部数据显示，今年1至11月，以旧换新活动带动相关商品销售额突破2.5万亿元（约合3550亿美元），惠及超过3.6亿人。Wang Qing, chief macroeconomic analyst at Golden Credit Rating International, said that next year's trade-ins could incorporate a wider range of products, particularly those with artificial intelligence features. Wang suggested scaling up the annual funding pool to 500 billion yuan — an increase from this year's 300 billion yuan.金信评级首席宏观分析师王青表示，明年的以旧换新政策可能涵盖更广泛的产品，特别是具备人工智能功能的产品。王青建议将年度资金池规模扩大至5000亿元人民币——较今年的3000亿元有所增加。In late November, China unveiled a plan to improve the alignment of the supply and demand of consumer goods, highlighting the application of AI across all sectors and processes of the consumer goods industry.11月下旬，中国公布了一项优化消费品供需匹配的计划，强调人工智能技术将全面应用于消费品行业的各个领域和生产环节。"More important, the scope of support could broaden beyond durable goods to encompass a wide range of service sectors such as childhood education," Wang added.王青补充道：“更重要的是，支持范围可能从耐用品扩展到涵盖儿童教育等广泛的服务领域。”Structural reforms结构化改革Besides short-term measures, analysts emphasized that sustaining consumer strength will increasingly depend on deeper structural reforms, including raising household income, strengthening the social safety net and improving livelihoods.除短期措施外，分析师强调，维持消费韧性将日益依赖更深层次的结构性改革，包括提高居民收入、强化社会安全网以及改善民生。To this end, the tone-setting meeting last week explicitly advocated "increased incomes for urban and rural residents".为此，上周的定调会议明确倡导“提高城乡居民收入”。Wen Bin, chief economist at China Minsheng Bank, said that "the policy focus is gradually evolving from simple stimulus to bolstering both the capacity and willingness of households to spend".中国民生银行首席经济学家温彬表示：“政策重点正逐步从单纯的刺激转向增强家庭消费能力和意愿。”Wen pointed to potential measures such as adjusting personal income tax thresholds, maintaining steady growth in social welfare spending, and advancing policies that promote high-quality employment as key to enabling durable consumption growth.温彬指出了若干潜在措施，包括调整个人所得税起征点、保持社会福利支出稳定增长、推进促进高质量就业的政策，这些措施是实现消费持续增长的关键。China has also been proactively encouraging inbound consumption to enhance the resilience of its domestic market through the "Shopping in China" campaign, fueled by China's unilateral visa-free policies for various countries and a new initiative allowing eligible travelers to receive instant tax refunds.中国还通过“中国购物”活动积极鼓励入境消费，以增强国内市场的韧性。该活动得益于中国对多个国家实施的单方面免签政策，以及一项允许符合条件的旅客即时退税的新举措。

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened down 145-points this morning from yesterday's close, at 27,721 on turnover of 7.5-billion N-T. The market took a beating on Monday, on the back of a decline in investor interest in artificial intelligence-related stocks, as selling followed heavy losses on Wall Street last Friday amid lingering concerns of an A-I bubble. MAC voices regret over Jimmy Lai conviction in Hong Kong The Mainland Affairs Council is expressing his "deep regret" over the conviction of Hong Kong media tycoon Jimmy Lai under the territory's national security law. The council says it "strongly condemns the Hong Kong government for using the malicious (惡意的) national security law to curb freedom of speech and press freedom, and to politically persecute pro-democracy figures." The statement issued by the council also says the ruling was "tantamount to declaring to the world" that Hong Kong's freedom, democracy, and judicial independence have been "gradually eroded." MOEA to invest NT$2.5 billion to boost adoption of artificial intelligence The Administration of Commerce has announced plans to invest at 2.5-billion N-T over the next two years to expand support for the adoption of artificial intelligence within the island's commercial service sector. According to the Ministry of Economic Affairs, the program will targets businesses in wholesale, retail, food and beverage, and logistics as more companies in those fields are seeking to adopt A-I tools. The ministry says it expects to help over 30,000 businesses adopt A-I through the funding program. The Department of Commerce says the service will help businesses evaluate A-I adoption conditions and provide guidance (指導) based on scale and digital capability. US foils New Year Eve's terror bomb plot US authorities have arrested four people who were allegedly planning a New Year's Eve terror plot (陰謀) in southern California. Nick Harper reports. Mexico Plane Crash Kills Seven A small plane has crashed in central Mexico while attempting an emergency landing, killing at least seven people. Mexican officials say the accident happened Monday in an industrial area near Toluca airport. The plane had taken off (起飛) from Acapulco. Authorities say the private jet had eight passengers and two crew members, but only seven bodies have been recovered. The plane apparently tried to land on a soccer field but hit a nearby business, causing a large fire. The crash is under investigation, and the fire forced the evacuation of about 130 people. SSudan Grounds UN Aircraft South Sudan's government has grounded four aircraft registered under the United Nations mission there, alleging that they were used for illegal surveillance and smuggling. The U.N. denied it. South Sudan's foreign minister said a government committee was examining the aircraft after intelligence reports raised security concerns, and two were found with advanced (先進的) surveillance and intelligence recording systems. A U.N. mission spokesperson said the mission has been talking with South Sudan's government “for a while now to resolve this issue” and said the mission works transparently (透明地) with it on U.N. operations. South Sudan's government in 2017 grounded U.N. aircraft after peacekeepers were deployed to guard the country's main airport. The government said that was not part of their mandate. That was the I.C.R.T. EZ News, I'm _____. －－－－以下為 SoundOn 動態廣告－－－－ 全台南最多分店、最齊全物件，在地團隊懂台南，也懂你的需求。 不管是買屋、賣屋，還是從築夢到圓夢， 房子的大小事，交給台南住商，讓你更安心。 了解更多：https://sofm.pse.is/8g7vpy -- 新感覺夾心土司 多種口味隨心挑選 讓你隨時隨地都有好心情 甜蜜口感草莓夾心、顆粒層次花生夾心、濃郁滑順可可夾心 主廚監製鮪魚沙拉、精選原料金黃蛋沙拉 輕巧美味帶著走，迎接多變的每一天 7-Eleven多種口味販售中 https://sofm.pse.is/8gt83k -- Hosting provided by SoundOn

How can the metals sector advance circularity while navigating rising demand, resource scarcity and geopolitical pressure? In this panel from the Circular Valley Forum 2025, industry and policy leaders discuss the opportunities and constraints of creating a more circular metals system. The speakers include Inge Hofkens, COO at Aurubis, Dr. Heike Denecke-Arnold, CEO of Salzgitter Flachstahl, Bruno Pelli from Vale in Brazil, Dr. Ing. Paul Mählitz from the German Mineral Resources Agency (DERA) and Dr. Matthias Koehler, Deputy Director General for Raw Material Policy, Circular Economy and Resource Protection at the German Federal Ministry for Economic Affairs and Climate Action. The panel explores recycling limits, alloying element recovery, the role of scrap in decarbonisation, and how global market dynamics shape European resource strategies. This episode is part of our series in collaboration with Circular Valley and features sessions recorded at the Circular Valley Forum 2025.

On this episode of Reaganism, Dan Rothschild, director of the Civics, Education, and Opportunity at RRI sits down with Steve Davies, Head of Education at the Institute of Economic Affairs to discuss his upcoming book, "The Great Realignment: Why the New Right Is Here to Stay." Dan and Steve explore the evolving ideological alignment underway in the United States and across the globe. Steve argues that the split today is no longer governed by economic philosophy as it was from 1800s-2000s but is rooted in a new understanding of one's national identity.

Is Britain heading for another 1976 moment? With a £30 billion fiscal hole and few promises left unbroken, Rachel Reeves looks set to raise income tax — a move that could mark a grim turning point for Britain's economy. In this essay, Reem Ibrahim, Head of Media at the Institute of Economic Affairs, warns that higher taxes on work will punish aspiration, stifle growth, and echo the policy mistakes that once sent Britain to the IMF, cap in hand. Her message is clear: without spending restraint, Reeves risks repeating history's harshest lesson.Despatch brings you the best of CapX — the sharpest writing from the UK's most insightful daily newsletters.Stay informed with CapX's unmissable daily briefings from the heart of Westminster. Go to capx.co to subscribe. Hosted on Acast. See acast.com/privacy for more information.

Freedom of speech may be under assault in America, but that's nothing compared with what's going on in the United Kingdom, where police are arresting 33 people every day for social media posts. Matt Kibbe sits down with Reem Ibrahim, head of media for the Institute of Economic Affairs, to discuss how Britain has become so authoritarian, the difference in attitude between the British and American public, and whether there is any hope for the nation that gave us the Magna Carta to embrace liberty again.

Rachel Reeves' speech on Tuesday gave every indication that tax rises are on the way — though she was careful not to name names.The challenge is clear: raising serious revenue usually means turning to the big three — income tax, National Insurance, or VAT. But Labour's manifesto ruled those out, leaving the Chancellor with a fiscal puzzle and limited room to manoeuvre.Joining CapX deputy editor Joseph Dinnage to make sense of it all are Reem Ibrahim from the Institute of Economic Affairs and Henry Hill from Conservative Home.Stay informed with CapX's unmissable daily briefings from the heart of Westminster. Go to capx.co to subscribe. Hosted on Acast. See acast.com/privacy for more information.

In this episode, we explore alongside Ott Velsberg, Government Chief Data Officer, Estonian Ministry of Economic Affairs and Communications, how Estonia—a global pioneer in digital transformation—is redefining what's possible with data and artificial intelligence. As one of the most digitally advanced nations in the world, Estonia is moving beyond e-governance to integrate AI across its economy, public services, and daily life. With a firm commitment to transparency, ethics, and citizen trust, the country is building a future where innovation and accountability go hand in hand. Listeners will discover how Estonia's forward-thinking policies, infrastructure, and investments are powering its data economy, driving smarter governance, and setting a global standard for responsible AI adoption. From real-world examples of AI disrupting traditional systems to actionable insights for enhancing competitiveness, this episode offers a roadmap for any organisation looking to harness data and innovation the Estonian way. Ott Velsberg, Government Chief Data Officer, Estonian Ministry of Economic Affairs and Communications For more great insights head to www.PublicSectorNetwork.co      

The 20th Central Committee of the Communist Party of China is convening its fourth plenary session to set the country's 15th Five-Year Plan, the national blueprint through to 2030. Although details are yet to be released, signals have been sent that fostering "new quality productive forces" will be the strategic focus. Ahead of the meeting, the Central Commission for Financial and Economic Affairs published 8 articles in China's leading newspaper, the People's Daily, with "technological innovation" being a keyword. Why such emphasis on technological innovation? And how will this impact China's economy and beyond?

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened down 539-points this morning from last Thurday's close, at 26,762 on turnover of 21-billion N-T. The market gained ground last Thursday - as tech heavyweights led to the main to another record high of 27,301 largely on the back of investor interest in Taiwan Semiconductor Manufacturing - which closed at a record 1,440 N-T. Naval officer indicted for selling missile manuals to Chinese agent The Taichung District Prosecutors' Office has indicted a naval officer on corruption charges for allegedly selling sensitive, but unclassified operational manuals for the domestically developed Hsiung Feng II anti-ship missiles to China According to the prosecutors' office, the officer served in the Navy's Hai Feng Brigade land-based anti-ship missile unit and has been charged with violating the Anti-Corruption Act. Formal charges of violating the National Security Act have also been brought against another Navy officer in connection with the case. Prosecutors also say although the information was not classified, it still posed a threat to national security and the morale of the armed forces, undermining both official ethics and military virtue. MOE seeing no significant impact on chip sector from China's rare earths curbs The Ministry of Economic Affairs says it believes Taiwan's semiconductor industry will see no significant impact following China's announcing of new curbs on rare earth mineral exports. According to the ministry, they differ from the metals needed for the chip sector. China expanded its rare earths export controls late last week. The economics ministry says domestically needed products or derivatives containing rare earths are mainly sourced from Europe, the U-S, and Japan and as such, no significant impact on chip manufacturing is expected at this time. Trump Warns Russia US May Send Tomahawk Missiles to Ukraine US President Donald Trump is warning Russia that he may send Ukraine long-range Tomahawk missiles if Moscow doesn't settle its war there soon. Speaking to reporters aboard Air Force One on Sunday, Trump described the Tomahawk as an incredible and offensive weapon. He suggested Russia does not need that kind of escalation. Trump added that he might tell Russia the U.S. could send the missiles if the conflict isn't resolved. His comments came after a phone call earlier Sunday with Ukrainian President Volodymyr Zelenskyy earlier that day. And Russia attacked Ukraine's power grid overnight, part of an ongoing campaign to cripple Ukrainian energy infrastructure before winter. Moscow also expressed “extreme concern” over the U.S. potentially providing Tomahawk cruise missiles to Ukraine. Putin himself has previously suggested that the United States supplying long-range missiles to Ukraine will seriously damage relations between Moscow and Washington. US Vance Warning on Further Cuts During Gov Shutdown The White House is warning of deeper' cuts ahead for federal workers as the government shutdown enters its 12th day. AP's Lisa Dwyer reports Madagascar President Claims Attempted Coup The president of Madagascar says an attempted coup is underway in the Indian Ocean island country, a day after soldiers joined anti-government demonstrations. A statement from President Andry Rajoelina's office said it “wishes to inform the nation and the international community that an attempt to seize power illegally and by force” has been “initiated” on Sunday. The statement did not immediately identify who was behind the alleged attempt. Members of the armed forces had joined youth-led protests against Rajoelina on Saturday. The protests against service failures and alleged government corruption and nepotism (靠關係，靠親屬關係) have been going on since Sept. 25. That was the I.C.R.T. EZ News, I'm _____. －－－－以下為 SoundOn 動態廣告－－－－ 行人過馬路要注意安全！ 沒有路權時不要通行，穿越馬路請遵守號誌燈指示，注意來車與周圍環境，步行安全最重要，保護自己也保護他人。

Javier Milei's Argentina has drawn the admiration of many British conservatives. But what would a “British Milei” really look like — and would the civil service, Parliament, or the public ever let one govern? That question animated a lively CapX panel at the Conservative Party Conference in Manchester, chaired by Joseph Dinnage, with Jack Rankin MP, Annunziata Rees-Mogg of Popular Conservatives, Tom Clougherty of the Institute of Economic Affairs, and Tom Harwood of GB News. The discussion drew heavily on Argentina's libertarian experiment under President Javier Milei — his slash-and-burn of ministries, his rapid deficit elimination, and his flair for political theatre. Could such radicalism take root in Westminster's rule-bound soil?The panel's admiration was tempered by realism. Clougherty praised Milei's fiscal discipline — cutting Argentina's deficit from 5% of GDP to zero in a month — but warned that “chainsaws don't travel well.” Rees-Mogg highlighted Milei's “depth of conviction,” arguing Britain's leaders have lost the courage to act decisively. Rankin cautioned that “the Overton window hasn't yet moved on the economy,” though he expects a coming fiscal reckoning to force honesty about debt, welfare, and spending. Harwood, meanwhile, drew parallels with Liz Truss's ill-fated mini-budget: “Markets thought we'd gone loopy,” he said, underscoring that radicalism without credibility is ruinous.Where Argentina acted from crisis, Britain's crisis is one of confidence. The conversation returned again and again to communication — how to marry tough economics with moral clarity. “We need to explain the why,” Rees-Mogg insisted. The lesson from Buenos Aires, it seems, isn't to imitate Milei's chainsaw, but his conviction: to tell the truth early, show belief in reform, and build consent before crisis forces the issue.Stay informed with CapX's unmissable daily briefings from the heart of Westminster. Go to capx.co to subscribe. Hosted on Acast. See acast.com/privacy for more information.

Canada must raise its level of ambition to compete in today's rapidly shifting geoeconomic and geopolitical landscape. So far on the podcast, we've focused on how diversifying oil and gas exports can strengthen Canada's power and influence. This week, we turn our attention to another strategic sector — mining. Our guest this week is Photinie Koutsavlis, Vice President of Economic Affairs and Climate Change at the Mining Association of Canada. She joins us to discuss the current state of Canada's mining industry. Here are some of the questions that Jackie and Peter asked Photinie Koutsavlis:  How large is Canada's mining sector, and what are its main products? Since the January 2020 announcement of the Canada–U.S. Joint Action Plan on Critical Minerals, what progress has been made on the ground? Has investment and production grown — and if not, what are the main barriers? Content referenced in this podcast: The Hub.ca, “Peter Tertzakian: Even if Alberta gets a new pipeline, what is next for the oil sands?” (October 4, 2025)Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media: X (Twitter): @arcenergyinstLinkedIn: @ARC Energy Research Institute Subscribe to ARC Energy Ideas PodcastApple PodcastsAmazon MusicSpotify

This episode's Community Champion Sponsor is Ossur. To learn more about their ‘Responsible for Tomorrow' Sustainability Campaign, and how you can get involved: CLICK HEREEpisode Overview: Healthcare organizations are drowning in data, yet struggling to unlock its potential to improve patient outcomes. Our next guest, Daniel Blumenthal, is transforming this challenge as VP of Strategy at MDClone. With nearly a decade pioneering synthetic data solutions, Daniel possesses a unique perspective bridging healthcare innovation and data privacy protection. From launching MDClone's North American operations to establishing partnerships with leading health systems like Intermountain Healthcare, he's witnessed firsthand how synthetic data can democratize healthcare insights while safeguarding patient privacy. Driven by a passion to turn data into actionable intelligence, Daniel shares MDClone's revolutionary vision to enable safe, collaborative discovery across healthcare ecosystems worldwide. Join us to discover how synthetic data is breaking down barriers, accelerating research, and empowering healthcare professionals to ask better questions of their data. Let's go!Episode Highlights:Building Trust in Healthcare Innovation: Healthcare innovations "live or die" based on whether people trust them, making trust-building as crucial as technology development.Synthetic Data Solves Privacy Challenge: MDClone generates "fake" patient data that protects privacy while maintaining statistical utility for research and analysis.$7 Million Savings at Intermountain: Synthetic data analysis of 100,000+ kidney disease patients helped optimize care interventions and deliver measurable ROI.AI Needs Patient Data Access: Generative AI could automate clinical processes, but requires patient data for training- making synthetic data essential for healthcare AI.Democratizing Healthcare Data: MDClone enables physicians, researchers, and administrators to access robust patient datasets previously blocked by privacy barriers.About our Guest: Daniel joined MDClone in its early days, launching the company's operations in North America and establishing its first partnerships with healthcare organizations in the U.S. and Canada. With MDClone's growth, Daniel now leads efforts to expand key partnerships and develop new software, services, and collaborations around the globe. Based in Chicago, Daniel has extensive experience building startup ecosystems and supporting entrepreneurs in the U.S. and Israel, having served as Deputy Consul for Economic Affairs at the Government of Israel Economic Mission in Chicago.Links Supporting This Episode: MDClone Website: CLICK HEREDaniel Blumenthal LinkedIn page: CLICK HEREMDClone LinkedIn: CLICK HEREMike Biselli LinkedIn page: CLICK HEREMike Biselli Twitter page: CLICK HEREVisit our website: CLICK HERESubscribe to newsletter: CLICK HEREGuest nomination form:

European countries have committed to higher defence spending to face down Russian aggression. But preparing for war isn't cheap – and in many countries, budgets are already stretched. How will European members of Nato hit their defence targets, a hefty 5% of GDP? Will EU states look beyond their own national champions, and commit to greater co-operation on defence funding and purchases? And what kind of new institutions would be necessary to make that happen? To find out, Sam Fleming speaks to Jeromin Zettelmeyer. He is the director of the Brussels-based think tank, Bruegel, and has previously held senior roles at the IMF, the Peterson Institute, and in the German Ministry for Economic Affairs and Energy. Clips: BBC, Bloomberg Television, European Commission, French Armed ForcesSam Fleming is the FT's economics editor. You can find his articles here: https://www.ft.com/sam-flemingSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Sam Fleming. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Manuela Saragosa is the FT's acting co-head of audio. Original music from Breen Turner, and sound design by Breen Turner & Sam Giovinco.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Joining Iain Dale on Cross Question this evening are Labour MP Luke Murphy, Conservative MP Andrew Griffith, Reem Ibrahim from the Institute of Economic Affairs think tank and LBC's own Aggie Chambre.

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Listeria outbreak linked to Kroger. CNN’s Harry Enten polling regarding the Big Beautiful Bill. Fed holding interest rates. Press asks Trump about raising the minimum raise. More national guard troops to LA. Karoline Leavitt: President Trump will make his decision on Iran in the next two weeks. Itai Biran Consul for Political and Economic Affairs in the Consulate. Joining Karoline Leavitt presser in progress.See omnystudio.com/listener for privacy information.

Iran bombs hospital in Israel. Social Security insolvency moving up to 2033. Mike Tobin from Fox News joins Tony from Israel. Jasmine Crockett Masterpiece Theatre. Listeria outbreak linked to Kroger. CNN’s Harry Enten polling regarding the Big Beautiful Bill. Fed holding interest rates. Press asks Trump about raising the minimum raise. More national guard troops to LA. Karoline Leavitt: President Trump will make his decision on Iran in the next two weeks. Itai Biran Consul for Political and Economic Affairs in the Consulate. Joining Karoline Leavitt presser in progress. It’s not what Trump says, it’s what he does. Carlson vs Cruz. Newsom saying Trump is hurting them from fighting forest fires. WashPo’s Jonathan Capehart lies about Sen Padilla. XX XY’s Jennifer Say doesn’t want to have an HR dept at her company. Cynthia Nixon’s son is on a hunger strike in support for Gaza.See omnystudio.com/listener for privacy information.

Join Thórdís Kolbrún Reykfjörd Gylfadóttir, Iceland's former Minister of Foreign Affairs, and Hoover Senior Fellow H.R. McMaster, as they discuss the evolving U.S.-Iceland relationship, Icelandic-European relations, and the continued security challenges of the Arctic. Appointed as the Special Envoy of Council of Europe Secretary General on the situation of children of Ukraine, Gylfadóttir provides an insight into her vital role in raising awareness of the challenges facing the children of Ukraine, the driving forces behind Putin's behavior, and why sustained support for Ukraine from Europe and the US is critical. Iceland a founding member of NATO, Gylfadóttir discusses the importance of NATO to transatlantic security from an Icelandic perspective, the importance of the transatlantic relationship in the fight against Russia, China, North Korea and Iran, as well as current priorities for the US-Iceland relationship and why Americans should experience a visit to the country of Iceland. ABOUT THE SPEAKERS Thórdís Kolbrún Reykfjörd Gylfadóttir is the Special Envoy of Council of Europe Secretary General on the situation of children of Ukraine. Gylfadóttir previously served as Minister of Foreign Affairs from 2021 to 2023 and once more in 2024, Minister of Finance and Economic Affairs from November 2023 to April 2024, Minister of Justice, and Minister of Tourism, Industry and Innovation from 2017 to 2021. She was the youngest woman to serve as a minister. Since 2016, Gylfadóttir has represented the Independence Party in Iceland's parliament, the Althing, and was appointed vice-chairman of the party in 2018. She holds a master's degree in law from Reykjavik University. H.R. McMaster is the Fouad and Michelle Ajami Senior Fellow at the Hoover Institution, Stanford University. He is also the Bernard and Susan Liautaud Fellow at the Freeman Spogli Institute and lecturer at Stanford University's Graduate School of Business. He was the 25th assistant to the president for National Security Affairs. Upon graduation from the United States Military Academy in 1984, McMaster served as a commissioned officer in the United States Army for thirty-four years before retiring as a Lieutenant General in June 2018.

In this week's Dissident's podcast, James & Chris explore some of the legal, political, and moral arguments that undercut the basis for the modern welfare-regulatory state - which sees coercive powers concentrated in a central government body that intervenes into most human affairs, often in illiberal ways that pit one interest group against another or prioritize the interests of those in power. They show why it can only ever be that way under the current paradigm, regardless of who is in charge. With a particular focus on welfare & IP regimes, they go on to discuss & debate some novel alternatives that could take the place of the current concentrated power structure while yielding safer & more productive outcomes for all citizens. Such liberal alternatives can also still solve many of the human challenges that the prevailing coercive systems seek to remedy.

Weakness in key Asian bellwether has authorities there panicking into bailouts, setting its central on course to be the next major to head into "historically" low interest rates. That's not all, there's already spillover from the tariff shock in China where reports show work stoppages and factory closings. And rates there are right back near record lows. Eurodollar University's Money & Macro AnalysisChosunBiz South Korea's economy faces 0.2% GDP decline amid tariff and political turmoilhttps://biz.chosun.com/en/en-policy/2025/04/24/O6H63WLPC5BHDE3HUEYUTF6UUMSouth Korea Ministerial Meeting on Economic Affairs and Ministerial Meeting on Strengthening Industrial Competitiveness (Apr.15, 2025)https://english.moef.go.kr/pc/selectTbPressCenterDtl.do;jsessionid=ngE3YYBKCpQ6L--F1ty-I76Sl7rjfIGh94TDtjlr.node20?boardCd=N0001&seq=6146FT Chinese factories slow production and send workers home as US tariffs bitehttps://www.ft.com/content/d5784258-4de3-44a1-94ae-6f763857b034https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Today on the show, Fareed speaks with former German Minister of Economic Affairs Peter Altmaier about the impact of President Trump's tariffs in Europe and around the world.    Next, Ehud Barak, former Israeli prime minister, joins the show to discuss Israel's renewed war in Gaza where Prime Minister Netanyahu is dividing up and seizing more territory. Barak says this is a death sentence for most of the hostages who are still alive.    Then, after France's far-right leader Marine Le Pen was found guilty of embezzlement and banned from running in the 2027 presidential election, Fareed speaks with The Economist's Sophie Pedder about this shake-up in French politics.    Finally, The Atlantic's Yoni Appelbaum joins to discuss his new book “Stuck” in which he writes about the crisis of geographic mobility in America and its impact on politics and economic opportunity in the country.    GUESTS: Peter Altmaier (@peteraltmaier), Ehud Barak (@barak_ehud), Sophie Pedder (@PedderSophie), Yoni Appelbaum (@YAppelbaum)  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Melvyn Bragg and guests discuss the Austrian-British economist Friedrich Hayek's The Road to Serfdom (1944) in which Hayek (1899-1992) warned that the way Britain was running its wartime economy would not work in peacetime and could lead to tyranny. His target was centralised planning, arguing this disempowered individuals and wasted their knowledge, while empowering those ill-suited to run an economy. He was concerned about the support for the perceived success of Soviet centralisation, when he saw this and Fascist systems as two sides of the same coin. When Reader's Digest selectively condensed Hayek's book in 1945, and presented it not so much as a warning against tyranny as a proof against socialism, it became phenomenally influential around the world. With Bruce Caldwell Research Professor of Economics at Duke University and Director of the Center for the History of Political EconomyMelissa Lane The Class of 1943 Professor of Politics at Princeton University and the 50th Professor of Rhetoric at Gresham College in LondonAndBen Jackson Professor of Modern History and fellow of University College at the University of OxfordProducer: Simon TillotsonReading list:Angus Burgin, The Great Persuasion: Reinventing Free Markets Since the Depression (Harvard University Press, 2012)Bruce Caldwell, Hayek's Challenge: An Intellectual Biography of F.A. Hayek (University of Chicago Press, 2004)Bruce Caldwell, ‘The Road to Serfdom After 75 Years' (Journal of Economic Literature 58, 2020)Bruce Caldwell and Hansjoerg Klausinger, Hayek: A Life 1899-1950 (University of Chicago Press, 2022)M. Desai, Marx's Revenge: The Resurgence of Capitalism and the Death of Statist Socialism (Verso, 2002)Edward Feser (ed.), The Cambridge Companion to Hayek (Cambridge University Press, 2006)Andrew Gamble, Hayek: The Iron Cage of Liberty (Polity, 1996)Friedrich Hayek, Collectivist Economic Planning (first published 1935; Ludwig von Mises Institute, 2015), especially ‘The Nature and History of the Problem' and ‘The Present State of the Debate' by Friedrich HayekFriedrich Hayek (ed. Bruce Caldwell), The Road to Serfdom: Text and Documents: The Definitive Edition (first published 1944; Routledge, 2008. Also vol. 2 of The Collected Works of F. A. Hayek, University of Chicago Press, 2007)Friedrich Hayek, The Road to Serfdom: Condensed Version (Institute of Economic Affairs, 2005; The Reader's Digest condensation of the book)Friedrich Hayek, ‘The Use of Knowledge in Society' (American Economic Review, vol. 35, 1945; vol. 15 of The Collected Works of F. A. Hayek, University of Chicago Press) Friedrich Hayek, Individualism and Economic Order (first published 1948; University of Chicago Press, 1996), especially the essays ‘Economics and Knowledge' (1937), ‘Individualism: True and False' (1945), and ‘The Use of Knowledge in Society' (1945)Friedrich Hayek, The Constitution of Liberty (first published 1960; Routledge, 2006) Friedrich Hayek, Law. Legislation and Liberty: A new statement of the liberal principles of justice and political economy (first published 1973 in 3 volumes; single vol. edn, Routledge, 2012)Ben Jackson, ‘Freedom, the Common Good and the Rule of Law: Hayek and Lippmann on Economic Planning' (Journal of the History of Ideas 73, 2012)Robert Leeson (ed.), Hayek: A Collaborative Biography Part I (Palgrave, 2013), especially ‘The Genesis and Reception of The Road to Serfdom' by Melissa LaneIn Our Time is a BBC Studios Audio Production