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5 episodes with free market institute
5 episodes with free market institute
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2 episodes with free market institute
2 episodes with free market institute
2 episodes with free market institute
2 episodes with free market institute
Alexander William Salter, economics professor in the business school at Texas Tech University, a research fellow at TTU's Free Market Institute, and a research fellow with the Independent Institute in Oakland, California Simple Economics May Derail the MAHA Reform of Food Stamps
ARE WE HEADING FOR A RECESSION ANYWAY? I've got Alexander Salter, an economics professor at Texas Tech University's business school and researcher at TTU's Free Market Institute, on to discuss the Federal Reserve's latest move and why he thinks they need to try to do LESS for the economy than they are currently tasked with. He's on at 1p. Read his work here and here.
America faces its toughest economic challenges in decades: record-high inflation, a staggering $35 trillion federal debt, and heavy-handed regulations that threaten to stifle growth. These conditions set the stage for Donald Trump's rise to the presidency. But what's the way forward? How can the federal government create policies that foster economic growth and prosperity? Joining us to talk further is Dr. Alex Salter, who is an Associate Professor of Economics at Texas Tech University and a scholar with the Free Market Institute. Dr. Salter has written several books and has published nearly 300 opinion pieces in leading outlets like The Wall Street Journal and National Review. If you would like to interview Richard Nelson, Executive Director of the Commonwealth Policy Center, please email richard@commonwealthpolicy.org. Like and Follow us on Facebook: www.facebook.com/commonwealthpolicy Follow us on Twitter: @CPC4Kentucky E-Newsletter: https://www.commonwealthpolicycenter.org/mailing-list/ --- Support this podcast: https://podcasters.spotify.com/pod/show/commonwealth-matters/support
In this Let People Prosper Show episode, I welcome back Dr. Alex Salter for his fourth appearance. He is the Georgie G. Snyder Associate Professor of Economics in the Rawls College of Business at Texas Tech University and the Comparative Economics Research Fellow at TTU's Free Market Institute.We explore the economic landscape following the recent presidential election and dive into the challenges of fiscal responsibility facing Congress, the influence of the Federal Reserve in managing inflation, and the Biden administration's impact on the cost of living.We also discuss how economic policy shapes national prosperity, emphasizing the need for growth-oriented reforms, ethical considerations, and accountability in monetary policy.Join us for a critical look at how pro-growth policies can create a brighter economic future for Americans.Please share and rate the Let People Prosper Show wherever you get your podcasts, visit vanceginn.com for more insights, and subscribe to my newsletter for show notes at vanceginn.substack.com.
GUEST OVERVIEW: Dr. Berdine graduated from the Massachusetts Institute of Technology in 1974 earning a B.S. degrees in Chemistry and a second B.S. degree in Life Sciences. He graduated from Harvard School of Medicine in 1978 earning the M.D. degree. Specialty training in Internal Medicine and subspecialty training in Pulmonary Diseases was at the Peter Bent Brigham Hospital in Boston. Dr. Berdine found the taxation in Massachusetts to be oppressive, so in 1984 he moved to the relatively free environment of Texas where he has remained since. Dr. Berdine was on the faculty at University of Texas Health Sciences Center in San Antonio doing research in basic respiratory gas exchange physiology and teaching students in the medical arts until 1989 when capricious and arbitrary rule by federal bureaucrats drove him into the entrepreneurial realm of private practice. Dr. Berdine left private practice in 2009 due to declining health and resumed academic medicine at Texas Tech University Health Sciences Center in Lubbock where he remains today. In addition to direct patient care and teaching of medical students, Dr. Berdine writes about the virtues of the free market in solving health care problems as well as the hazards of letting government make a mess of things. The recent COVID pandemic with authoritarian lockdowns, mandates of inadequately tested vaccines, and barbaric isolation of patients from family have provided numerous examples of letting government make a mess of things. He is an affiliate of the Free Market Institute at Texas Tech University. His commentary and analyses can be found at Southwest Respiratory and Critical Care Chronicles, Mises.org, and AIER. His latest commentary includes criticism of isolating patients from family, explaining physician burnout as a form of rent dissipation, a critical examination of excess deaths during COVID, and the very real hazards of COVID vaccines.
Dr. Alexander William Salter, Comparative Economics Research Fellow at the Free Market Institute and Georgie G. Snyder Associate Professor of Economics in the Jerry S. Rawls College of Business Administration at Texas Tech University, discusses Hillaire Belloc, G.K. Chesterton, and Distributism. If you are interested in learning more about the online M.A. in Pastoral Ministry Program for lay students at St. John's Seminary, email Dr. Stuart Squires at mapm@stjohnsem.edu
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University. In 2020, Dr. Berdine was warning about efficacy and risks claims being made over covid vaccines, which are at the forefront of a recent lawsuit by the State of Texas against Pfizer. Ryan and Tho discuss the case with Dr. Berdine, as well as the lessons learned from the government's response to covid and what is fueling the authoritarian capture of the American medical industry. "What the Covid Vaccine Hype Fails to Mention" by Gilbert Berdine: Mises.org/RR_163_A "United Kingdom Mortality Data by Age Group and Vaccination Status: Looking at Vaccine Effectiveness" by Gilbert Berdine: Mises.org/RR_163_B "Real Scientific Inquiry Requires Dissent. But That's Not What the CDC and JAMA Want." by Gilbert Berdine: Mises.org/RR_163_C "Can Austrian Economics Save Medicine?" by DR. MICHEL ACCAD: Mises.org/RR_163_D Claim your free book: Mises.org/RothPodFree Be sure to follow Radio Rothbard at Mises.org/RadioRothbard. Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug PROMO CODE: RothPod for 20% off
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University. In 2020, Dr. Berdine was warning about efficacy and risks claims being made over covid vaccines, which are at the forefront of a recent lawsuit by the State of Texas against Pfizer. Ryan and Tho discuss the case with Dr. Berdine, as well as the lessons learned from the government's response to covid and what is fueling the authoritarian capture of the American medical industry. "What the Covid Vaccine Hype Fails to Mention" by Gilbert Berdine: Mises.org/RR_163_A "United Kingdom Mortality Data by Age Group and Vaccination Status: Looking at Vaccine Effectiveness" by Gilbert Berdine: Mises.org/RR_163_B "Real Scientific Inquiry Requires Dissent. But That's Not What the CDC and JAMA Want." by Gilbert Berdine: Mises.org/RR_163_C "Can Austrian Economics Save Medicine?" by DR. MICHEL ACCAD: Mises.org/RR_163_D Claim your free book: Mises.org/RothPodFree Be sure to follow Radio Rothbard at Mises.org/RadioRothbard. Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug PROMO CODE: RothPod for 20% off
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University. In 2020, Dr. Berdine was warning about efficacy and risks claims being made over covid vaccines, which are at the forefront of a recent lawsuit by the State of Texas against Pfizer. Ryan and Tho discuss the case with Dr. Berdine, as well as the lessons learned from the government's response to covid and what is fueling the authoritarian capture of the American medical industry. "What the Covid Vaccine Hype Fails to Mention" by Gilbert Berdine: Mises.org/RR_163_A "United Kingdom Mortality Data by Age Group and Vaccination Status: Looking at Vaccine Effectiveness" by Gilbert Berdine: Mises.org/RR_163_B "Real Scientific Inquiry Requires Dissent. But That's Not What the CDC and JAMA Want." by Gilbert Berdine: Mises.org/RR_163_C "Can Austrian Economics Save Medicine?" by DR. MICHEL ACCAD: Mises.org/RR_163_D Claim your free book: Mises.org/RothPodFree Be sure to follow Radio Rothbard at Mises.org/RadioRothbard. Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug PROMO CODE: RothPod for 20% off
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University. In 2020, Dr. Berdine was warning about efficacy and risks claims being made over covid vaccines, which are at the forefront of a recent lawsuit by the State of Texas against Pfizer. Ryan and Tho discuss the case with Dr. Berdine, as well as the lessons learned from the government's response to covid and what is fueling the authoritarian capture of the American medical industry. "What the Covid Vaccine Hype Fails to Mention" by Gilbert Berdine: Mises.org/RR_163_A "United Kingdom Mortality Data by Age Group and Vaccination Status: Looking at Vaccine Effectiveness" by Gilbert Berdine: Mises.org/RR_163_B "Real Scientific Inquiry Requires Dissent. But That's Not What the CDC and JAMA Want." by Gilbert Berdine: Mises.org/RR_163_C "Can Austrian Economics Save Medicine?" by DR. MICHEL ACCAD: Mises.org/RR_163_D Claim your free book: Mises.org/RothPodFree Be sure to follow Radio Rothbard at Mises.org/RadioRothbard. Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug PROMO CODE: RothPod for 20% off
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University. In 2020, Dr. Berdine was warning about efficacy and risks claims being made over covid vaccines, which are at the forefront of a recent lawsuit by the State of Texas against Pfizer. Ryan and Tho discuss the case with Dr. Berdine, as well as the lessons learned from the government's response to covid and what is fueling the authoritarian capture of the American medical industry. "What the Covid Vaccine Hype Fails to Mention" by Gilbert Berdine: https://Mises.org/RR_163_A "United Kingdom Mortality Data by Age Group and Vaccination Status: Looking at Vaccine Effectiveness" by Gilbert Berdine: https://Mises.org/RR_163_B "Real Scientific Inquiry Requires Dissent. But That's Not What the CDC and JAMA Want." by Gilbert Berdine: https://Mises.org/RR_163_C "Can Austrian Economics Save Medicine?" by DR. MICHEL ACCAD: https://Mises.org/RR_163_D Claim your free book: https://Mises.org/RothPodFree Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard. Radio Rothbard mugs are now available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University. In 2020, Dr. Berdine was warning about efficacy and risks claims being made over covid vaccines, which are at the forefront of a recent lawsuit by the State of Texas against Pfizer. Ryan and Tho discuss the case with Dr. Berdine, as well as the lessons learned from the government's response to covid and what is fueling the authoritarian capture of the American medical industry. "What the Covid Vaccine Hype Fails to Mention" by Gilbert Berdine: Mises.org/RR_163_A "United Kingdom Mortality Data by Age Group and Vaccination Status: Looking at Vaccine Effectiveness" by Gilbert Berdine: Mises.org/RR_163_B "Real Scientific Inquiry Requires Dissent. But That's Not What the CDC and JAMA Want." by Gilbert Berdine: Mises.org/RR_163_C "Can Austrian Economics Save Medicine?" by DR. MICHEL ACCAD: Mises.org/RR_163_D Claim your free book: Mises.org/RothPodFree Be sure to follow Radio Rothbard at Mises.org/RadioRothbard. Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug PROMO CODE: RothPod for 20% off
The Brian D. O'Leary Show December 4, 2023 Matthew Sercely – Agorist Tax Advisor Ep. 92 Matthew Sercely has been a licensed attorney since 2009, and in 2020 he founded his own company to provide tax advice and planning for small businesses. He is dedicated to helping entrepreneurs, solopreneurs, and side-hustlers by setting up their businesses to legally avoid as much tax as possible. While he exclusively works with those who have or are starting businesses, Matthew's weekly newsletter offers general advice that anyone can use. When he's not screwing with the government, Matthew enjoys camping, weightlifting, and gaming. For Matthew's free report on over 60 Business Expense Ideas (and a few personal deductions as well), go to www.agoristTaxAdvice.com/oleary Topics discussed: 1031 Exchange · According to Investopedia, a 1031 Exchange is a swap of one real estate investment property for another that allows capital gains taxes to be deferred. Agorism · The mises.org wiki defines agorism as the practice of counter-economics and the ideas associated with that practice. Agorist ideas assert that Libertarian philosophy occurs in practice, in the real world, as Counter-Economics. It was first proposed by libertarian philosopher Samuel Edward Konkin III in 1975. · The Agora program at Boston College we mentioned is now apparently retired: http://agora.bc.edu/ Libertarianism · On the Natural Order Podcast, we give listeners a primer on libertarianism in episode 1 of the show. · The Substack page for that show: https://naturalorder.substack.com/p/libertarian-political-philosophy Austrian Economics · Also on the Natural Order Podcast, we dedicate a show for our listeners to learn the basics of the Austrian school of economics. · You can find the Substack version here: https://naturalorder.substack.com/p/methodology-matters-and-the-other Adam Martin – Texas Tech University · Adam Martin is Political Economy Research Fellow at the Free Market Institute and Associate Professor of acgricultural and applied economics in the Gordon W. Davis College of Agricultural Sciences & Natural Resources at Texas Tech University. Kelo vs. City of New London (Supreme Court Case) · Read about it on Wikipedia. It is depressing and criminal. · Go Whalers! Eminent domain in Tennessee · Collins Legal · Institute for Justice · Many such cases… Is taxation theft? · Theft (Wikipedia) the act of taking another person's property or services without that person's permission or consent with the intent to deprive the rightful owner of it. · Robbery (Wikipedia) the crime of taking or attempting to take anything of value by force, threat of force, or by use of fear. · Extortion (Wikipedia) the practice of obtaining benefit (e.g., money or goods) through coercion. · Probably (Wiktionary) In all likelihood. The Tom Woods Show · Episode 2175 Taxes and How to Minimize Them (Matthew Sercely) The Lew Rockwell Show · LewRockwell.com Podcasts Universities mentioned: Boston College University of Dallas More resources: Matthew Sercely on LinkedIn Sercely on
The news of Texas covered today includes:Our Lone Star story of the day: A ridiculous, spurious decision from a Travis Co. Democrat district judge places a temporary injunction on TEA from releasing the public school A to F accountability ratings. The judge, ruling on a lawsuit to stop transparency from about 100 ISDs, says school districts could suffer “irreparable harm” from the release! How?One charter school leader wrote me: “You are probably already aware of this, but some judge in Austin blocked TEA from releasing ratings after about 100 ISDs sued. I think charters should do the opposite and tell the world to ”bring it on” because we don't fear accountability like the ISDs do. … But we need to face the facts. It's widely understood that the delay is because TEA is trying to tweak ratings to already make schools look better.”Our Lone Star story of the day is sponsored by Allied Compliance Services providing the best service in DOT, business and personal drug and alcohol testing since 1995.Brain dead Democrats in Houston and Harris County go out of their way to advertise their brain dead status: Harris County justice leaders eye ‘cite and release' revival.Texas rig count up in this week's Baker Hughes report.Second Amendment issues including stupidity from a Dallas city councilman. Here's where to sign up for NRA political action.In the last segment, it's the beginning of a Pratt on Texas Podcast Extra with Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University, in which we discuss the dangerous failures of the American health systems in handling COVID. The full Podcast Extra interview can be found here (link will post after 6pm.)Listen on the radio, or station stream, at 5pm Central. Click for our radio and streaming affiliates.www.PrattonTexas.com
In this Pratt on Texas Podcast Extra I visit with Dr. Gilbert Berdine, an associate professor of medicine at Texas Tech University Health Sciences Center and an affiliate of the Free Market Institute at Texas Tech University, to discuss the dangerous failures of the American health system in handling COVID.Hint: COVID care (or non-care) is a look forward to what it will be for everything under a single-payer system.
This episode of Hub Dialogues features Alexander William Salter, a Texas Tech University economist and senior fellow at the Free Market Institute, about his co-authored new book, The Medieval Constitution of Liberty: Political Foundations of Liberalism in the West.The Hub Dialogues (which is one of The Hub's regular podcasts) feature The Hub's editor-at-large, Sean Speer, in conversation with leading entrepreneurs, policymakers, scholars, and thinkers on the issues and challenges that will shape Canada's future at home and abroad. The episodes are generously supported by The Ira Gluskin And Maxine Granovsky Gluskin Charitable Foundation and the Linda Frum and Howard Sokolowski Charitable Foundation.If you like what you are hearing on Hub Dialogues consider subscribing to The Hub's free weekly email newsletter featuring our insights and analysis on key public policy issues. Sign up here: https://thehub.ca/free-member-sign-up/. Hosted on Acast. See acast.com/privacy for more information.
Thank you for watching this week's episode of the "Let People Prosper" podcast. Today, I'm honored to be joined by Dr. Alexander ("Alex") Salter, who is the Georgie G. Snyder Associate Professor of Economics in the Rawls College of Business at Texas Tech University, the Comparative Economics Research Fellow at TTU's Free Market Institute, and an associate editor of the Journal of Private Enterprise. We discuss: 1) Fascinating findings and research from his new book "The Spirit of 1776: Libertarianism and American Renewal," including how the current U.S. system of government has strayed from the Constitution and what we can learn from the founding fathers about compromise; 2) The true definition of the “common good” and why we can only achieve a free society through liberty and humanitarian virtues; and 3) Dr. Salter's opinion on the current economy, whether or not the U.S. is in a recession, and why he believes the dollar is seriously threatened. If you enjoyed the show, please consider leaving a 5 star rating, writing a review, and sharing this on social media. Check out Dr. Salter's book: https://www.amazon.com/dp/163069228X?psc=1&smid=ATVPDKIKX0DER&ref_=chk_typ_quicklook_imgToDp For show notes, thoughtful insights, media interviews, speeches, blog posts, research, and more, check out my website (https://www.vanceginn.com/) and please subscribe to my newsletter on Substack (https://vanceginn.substack.com).
On this episode of the Hayek Program Podcast, we'll hear a book panel discussion on The Legacy of Richard E. Wagner, an edited volume recently published by the Mercatus Center at George Mason University. The panel is moderated by Peter Boettke and features Richard E. Wagner, reflecting on his career, his notion of entangled political economy, and future work still left to be done. They are joined on the panel by:Diana Thomas, Associate Professor of Economics and Director of the Institute for Economic Inquiry at the Heider College of Business at Creighton University, on "Emergence, Process, and the Asymmetries of Regulation: Wagnerian Political Economy"Adam Martin, Political Economy Research Fellow at the Free Market Institute and an Associate Professor of Agricultural and Applied Economics in the Gordon W. Davis College of Agricultural Sciences & Natural Resources at Texas Tech University, on "Expressive Entrepreneurship"Randall Holcombe, DeVoe Moore Professor of Economics at Florida State University, on "Untangling Political Economy"If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.Virtual Sentiments, our new podcast series from the Hayek Program is now streaming! Subscribe today and listen to season one on digital democracy.Follow the Hayek Program on Twitter: @HayekProgramLearn more about Academic & Student ProgramsFollow the Mercatus Center on Twitter: @mercatusCC Music: Twisterium
Alexander William Salter, awsalter.com, Economics Research Fellow with Free Market Institute at Texas Tech University, Associate Prof of Economics and associate editor of the Journal of Private Enterprise. Mr. Salter joins to talk about the current financial instability and how his two books look at the foundation of Western liberty and how to repair those failing foundations. His two books coming out this year "The Political Economy of Distributism: Property, Liberty, and the Common Good" and "The Medieval Constitution of Liberty: Foundations of Political Liberalism in the West".Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here:SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation through Mail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silver
OUTLINE of today's show with TIMECODESFauci & DC Mayor Bowser go door-to-door pushing vaccines and NO ONE is letting him get away with lies — ESPECIALLY one man. Fauci tries to smear them by calling them "Republicans" saying "they don't want people telling them what to do". I don't think they're Republicans given the demographics of DC. But no wanting to be told what to do by our "Masters" is an American thing 3:06Bird flu vaccine makers are preparing bird flu shots. They're ready. 15:39Bill Gates wants a global "fire department" to stop all future pandemics. It will probably look like the "firemen" from Fahrenheit 451 24:34AI develops new cancer "treatment" in only 30 days. Should we call it Dr. Chat? They claim it can also determine life expectancy. Does it take TrumpShots into consideration? 31:03Turbo testicular cancer in young athletes. From diagnosis to death in days 34:25Aneurysms, another complication of the MMR vaccine. 39:44California Hospital still letting transplant patients die if unvaccinated 42:51DeSantis holds press conference about CBDC — and OFFERS A STATE SOLUTION. But no one cares about anything he says. They only want to know about what he will do about Trump 49:17Trump goes nasty. The Underminer. Are his insinuations about DeSantis projection? 1:10:30Ukraine's Digital Transformation: a test bed for digital tyranny here and globally 1:23:2585% of Trump supporters think protesting against the arrest is a “January 6th style trap”. Even the people who led MAGA into the J6 trap are saying it's a trap this time. 1:47:44INTERVIEW Property, Liberty, & The Common Good. Alexander William Salter, awsalter.com, Economics Research Fellow with Free Market Institute at Texas Tech University, Associate Prof of Economics and associate editor of the Journal of Private Enterprise. Mr. Salter joins to talk about the current financial instability and how his two books look at the foundation of Western liberty and how to repair those failing foundations. His two books coming out this year "The Political Economy of Distributism: Property, Liberty, and the Common Good" and "The Medieval Constitution of Liberty: Foundations of Political Liberalism in the West". 2:01:54Military officer goes to war with woman who opposed on Facebook a polysexual poster in school. 2:46:09What is “woke?” Woman who wrote an anti-woke book can't define it in an interview. This is WHY I DO NOT USE THE TERM 2:52:20Orlando Drag Show: Undercover agents say they saw nothing lewd at drag show. Time to get some DIFFERENT agents 2:55:35Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here:SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation through Mail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silver
Alexander William Salter, awsalter.com, Economics Research Fellow with Free Market Institute at Texas Tech University, Associate Prof of Economics and associate editor of the Journal of Private Enterprise. Mr. Salter joins to talk about the current financial instability and how his two books look at the foundation of Western liberty and how to repair those failing foundations. His two books coming out this year "The Political Economy of Distributism: Property, Liberty, and the Common Good" and "The Medieval Constitution of Liberty: Foundations of Political Liberalism in the West".Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here:SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation through Mail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silver
OUTLINE of today's show with TIMECODESFauci & DC Mayor Bowser go door-to-door pushing vaccines and NO ONE is letting him get away with lies — ESPECIALLY one man. Fauci tries to smear them by calling them "Republicans" saying "they don't want people telling them what to do". I don't think they're Republicans given the demographics of DC. But no wanting to be told what to do by our "Masters" is an American thing 3:06Bird flu vaccine makers are preparing bird flu shots. They're ready. 15:39Bill Gates wants a global "fire department" to stop all future pandemics. It will probably look like the "firemen" from Fahrenheit 451 24:34AI develops new cancer "treatment" in only 30 days. Should we call it Dr. Chat? They claim it can also determine life expectancy. Does it take TrumpShots into consideration? 31:03Turbo testicular cancer in young athletes. From diagnosis to death in days 34:25Aneurysms, another complication of the MMR vaccine. 39:44California Hospital still letting transplant patients die if unvaccinated 42:51DeSantis holds press conference about CBDC — and OFFERS A STATE SOLUTION. But no one cares about anything he says. They only want to know about what he will do about Trump 49:17Trump goes nasty. The Underminer. Are his insinuations about DeSantis projection? 1:10:30Ukraine's Digital Transformation: a test bed for digital tyranny here and globally 1:23:2585% of Trump supporters think protesting against the arrest is a “January 6th style trap”. Even the people who led MAGA into the J6 trap are saying it's a trap this time. 1:47:44INTERVIEW Property, Liberty, & The Common Good. Alexander William Salter, awsalter.com, Economics Research Fellow with Free Market Institute at Texas Tech University, Associate Prof of Economics and associate editor of the Journal of Private Enterprise. Mr. Salter joins to talk about the current financial instability and how his two books look at the foundation of Western liberty and how to repair those failing foundations. His two books coming out this year "The Political Economy of Distributism: Property, Liberty, and the Common Good" and "The Medieval Constitution of Liberty: Foundations of Political Liberalism in the West". 2:01:54Military officer goes to war with woman who opposed on Facebook a polysexual poster in school. 2:46:09What is “woke?” Woman who wrote an anti-woke book can't define it in an interview. This is WHY I DO NOT USE THE TERM 2:52:20Orlando Drag Show: Undercover agents say they saw nothing lewd at drag show. Time to get some DIFFERENT agents 2:55:35Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here:SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation through Mail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silver
In episode #28 of the Let People Prosper Show, I interview Dr. Benjamin Powell of the Free Market Institute at Texas Tech University about: 1) Costs of the shutdowns and regulations during the COVID-19 pandemic; 2) Benefits of immigration and international trade to human flourishing; and 3) His book Socialism Sucks and land ownership by Chinese in Texans along with current events and economic ideas to let people prosper. More on Dr. Powell: https://www.depts.ttu.edu/freemarketinstitute/people/powell.php For thoughtful economic commentary and show notes, check out my newsletter: https://vanceginn.substack.com/ Please rate with 5 stars and subscribe to the Let People Prosper Show if you enjoyed this episode. And be sure to check out the other episodes.
Alexander William Salter is an economics professor in the Rawls College of Business at Texas Tech University and a research fellow at TTU's Free Market Institute. His first book, Money and the Rule of Law: Generality and Predictability in Monetary Institutions, is a #1 best seller on Amazon in Macroeconomics. In addition to his numerous scholarly articles, he has published nearly 300 opinion pieces in leading national outlets such as the Wall Street Journal, Newsweek, Fox News Opinion, and National Review. Salter: To the stars! Liberty on the final frontier https://www.lubbockonline.com/story/opinion/columns/2022/12/11/salter-to-the-stars-liberty-on-the-final-frontier/69712002007/ CBDC in the USA: Not Now, Not Ever https://www.aier.org/article/cbdc-in-the-usa-not-now-not-ever/ Supply, Demand, and Inflation: The Big Picture https://www.aier.org/article/supply-demand-and-inflation-the-big-picture/ https://www.young-voices.com/advocate/alexander-salter/ awsalter.com This episode is sponsored by BetterHelp. Give online therapy a try at Betterhelp.com/gml and get on your way to being your best self. Join the private discord & chat during the show! joingml.com Invest in your future & your human capital today natescrashcourse.com Like our intro song? https://www.3pillmorning.com Advertise on our podcast! Learn more about your ad choices. Visit podcastchoices.com/adchoices
Today I was joined by Texas Tech Economics Professor Alexander Salter. We talked about FED policy, the root cause of our inflation, and ways to get out. I also got his response to Robert Reich's constant bemoaning of inflation caused by "corporate greed." Alexander William Salter is an economics professor in the Rawls College of Business at Texas Tech University and a research fellow at TTU's Free Market Institute. His first book, Money and the Rule of Law: Generality and Predictability in Monetary Institutions, is a #1 best seller on Amazon in Macroeconomics. In addition to his numerous scholarly articles, he has published nearly 300 opinion pieces in leading national outlets such as the Wall Street Journal, Newsweek, Fox News Opinion, and National Review. https://www.awsalter.com/ https://www.young-voices.com/advocate/alexander-salter/ Has the Fed Seen Enough to Slow Rate Hikes? https://www.wsj.com/articles/fed-interest-rate-hike-inflation-prices-economy-11669760146?mod=Searchresults_pos1&page=1 Rural districts have nothing to fear from school choice https://thecannononline.com/rural-districts-have-nothing-to-fear-from-school-choice/ This episode is sponsored by BetterHelp. Give online therapy a try at Betterhelp.com/gml and get on your way to being your best self. Join the private discord & chat during the show! joingml.com Invest in your future & your human capital today natescrashcourse.com Like our intro song? https://www.3pillmorning.com Advertise on our podcast! Learn more about your ad choices. Visit megaphone.fm/adchoices
Many progressives believe gas prices are due to the greed of oil companies. They're all reporting record profits, but my guest Alex Salter explains why this has happened. Alex is also from Texas, a state besieged by Californians. He explains why Texans shouldn't fear their new neighbors and how that applies to immigrants from other countries immigrating to America. Video - https://youtu.be/8TDfIodbVIk Alexander Salter is an associate professor in the Rawls College of Business at Texas Tech University, a research fellow at the Free Market Institute, and a senior fellow with the American Institute for Economic Research, and a Young Voices contributor. Salter: Don't fear the Californians coming to Texas - https://www.lubbockonline.com/story/opinion/columns/2022/10/30/salter-dont-fear-the-californians-coming-to-texas/69597528007/ On Gas Prices, Simple Economics Trumps Biden's Partisan Agenda - https://spectator.org/gas-prices-economics-biden-partisan-agenda/ Join WAL Plus now for commercial-free shows and our complete archives - JoinWALPlus.com ---- This episode is brought to you by Iconic Insurance. Fifteen percent of Americans are left to find health insurance on their own. You might feel overwhelmed, lost, or frustrated, and if that's you, feel in control of your health with Matt Allen's help. Visit www.iconic-insurance.com/libertarians to get started. --- Chris Spangle and Leaders and Legends, LLC edited and produced this podcast. If you're interested in starting a podcast or taking yours to the next level, please contact us at LeadersAndLegends.net. ---- Looking to start a podcast? Download my podcast Podcasting and Platforms now, and check out my recommendations for buying the right equipment. ---- Q Sleep Spray assists in achieving a more restful sleep so you can wake up refreshed. Q SLEEP contains incredible ingredients, including melatonin, 5-HTP, and L-theanine, as well as a proprietary herbal extract, which synergistically promotes restful sleep and helps your mind and body rejuvenate. Buy Now - https://wearelibertarians.com/sleepspray/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Dr. Gilbert Berdine, Associate Professor of Internal & Pulmonary Medicine at Texas Tech Health Science Center and Faculty Affiliate with the Free Market Institute. This episode traces his interesting and informative journey from studying engineering at MIT to practicing pulmonology and Austrian economics at Texas Tech.
In episode #12 of the Let People Prosper Show, I talk with Dr. Alexander ("Alex") Salter, who is the Georgie G. Snyder Associate Professor of Economics in the Rawls College of Business at Texas Tech University, the Comparative Economics Research Fellow at TTU's Free Market Institute, and an associate editor of the Journal of Private Enterprise. Join us as we discuss: 1. The need for more school choice to empower parents instead of the government; 2. Problems with the Federal Reserve; and 3. The need for rules-based policies. More on Dr. Salter: https://www.awsalter.com/ For thoughtful economic commentary and show notes, check out my newsletter: https://vanceginn.com/ Please rate with 5 stars and subscribe to the Let People Prosper Show if you enjoyed this episode. And be sure to check out the other episodes.
https://youtu.be/fmh1JeGAVP0 Here's why: almost a hundred years ago, the Austrian economist Ludwig von Mises explained that socialism, even if run by benevolent despots and populated with workers willing to work for the common good, could still not match capitalism's performance. Socialism requires abolishing private property in the means of production. But private property is necessary to have the free exchange of labor, capital, and goods that establish proper prices. Without proper prices, socialist planners could not know which consumer goods were needed or how best to produce them....Socialism also gives tremendous power to government officials and bureaucrats who are the system's planners—and with that power comes corruption, abuse, and tyranny. It is no accident that the worst democides of the twentieth century occurred in socialist countries like the Soviet Union, Communist China, and Nazi (National Socialist) Germany, where planners simply decided to eliminate populations they thought interfered with their plans. - Robert Lawson and Benjamin Powell, Socialism Sucks: Two Economists Drink Their Way Through the Unfree World Dr. Ben Powell is the Executive Director of the Free Market Institute at Texas Tech University and a Professor of Economics in the Rawls College of Business and a Senior Fellow with the Independent Institute. Other books discussed: Wretched Refuse?: The Political Economy of Immigration and Institutions Out of Poverty: Sweatshops in the Global Economy BitChute Flote Archive Spotify
Dr. Ben Powell is the Executive Director of the Free Market Institute at Texas Tech University and a Professor of Economics in the Rawls College of Business and a Senior Fellow with the Independent Institute. Find his books here: http://benjaminwpowell.com/ ----------------------------------------------------------- The Voluntaryist Handbook: https://libertarianinstitute.org/books/voluntaryist-handbook/ Support the show, PayPal: KeithKnight590@gmail.com or Venmo: @Keith-Knight-34 LBRY / Odysee: https://odysee.com/@KeithKnightDontTreadOnAnyone:b BitChute: KeithKnightDontTreadOnAnyone https://www.bitchute.com/channel/keithknightdonttreadonanyone/ Minds: https://www.minds.com/KeithKnightDontTreadOnAnyone/ GETTR: https://gettr.com/user/an_capitalist MeWe: mewe.com/i/keithknight25 Flote: https://flote.app/VoluntaryistKeith Gab: https://gab.com/Voluntarykeith Twitter: @an_capitalist The Libertarian Institute: https://libertarianinstitute.org/dont-tread-on-anyone/ One Great Work Network: https://www.onegreatworknetwork.com/keith-knight Archive.org: https://archive.org/details/@keithknight13 Locals: https://donttreadonanyone.locals.com/ Spotify: https://open.spotify.com/show/0mG2QvxJe9TQpJiyrQTqfx
Dr. Alexander Salter, Comparative Economics Research Fellow with the Free Market Institute at Texas Tech University joins to discuss the economic dilemma and how Central Bank Digital Currency may be imposed
* Why BigPharma MUST push jabs on children* Biden coming for gas furnaces next* Heavy metals in baby food triggering autism? Judge finds sufficient evidence to allow trial to proceed* Transhumanists push re-creation of Darth Vader Ginsberg's mind* INTERVIEW: Problem - Inflation, Recession, or Both? Will "Solution" be CBDC? Dr. Alexander Salter, Comparative Economics Research Fellow with the Free Market Institute at Texas Tech University joins to discuss the economic dilemma and how Central Bank Digital Currency may be imposed* Hunter's laptop expose — again. Confession about his "god" status and ability to get Papa Joe to do anything he wishes* Economy rated "EX" — as in "former" and "exit". Home mortgage rates EXplode in anticipation of Fed the day after stock market implosion* Yet another firebombing of a crisis pregnancy clinic by those who demand the "right" to murder babies? Here's the running count as the FBI does nothing* Tom Hanks says heterosexuals shouldn't be allowed to pretend to be homosexuals. Find out more about the show and where you can watch it at TheDavidKnightShow.comIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughZelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Mail: David Knight POB 994 Kodak, TN 37764
* Why BigPharma MUST push jabs on children* Biden coming for gas furnaces next* Heavy metals in baby food triggering autism? Judge finds sufficient evidence to allow trial to proceed* Transhumanists push re-creation of Darth Vader Ginsberg's mind* INTERVIEW: Problem - Inflation, Recession, or Both? Will "Solution" be CBDC? Dr. Alexander Salter, Comparative Economics Research Fellow with the Free Market Institute at Texas Tech University joins to discuss the economic dilemma and how Central Bank Digital Currency may be imposed* Hunter's laptop expose — again. Confession about his "god" status and ability to get Papa Joe to do anything he wishes* Economy rated "EX" — as in "former" and "exit". Home mortgage rates EXplode in anticipation of Fed the day after stock market implosion* Yet another firebombing of a crisis pregnancy clinic by those who demand the "right" to murder babies? Here's the running count as the FBI does nothing* Tom Hanks says heterosexuals shouldn't be allowed to pretend to be homosexuals. TOPICS by SEGMENTSegment 1* Transitioning — the economy. Joe "Nero" Biden is taking us to ZERO and to war in this Fourth Turning* Leaked data shows internal conspiracy discussions to de-platform Libs of TikTok* Will Elon Musk move forward with Twitter purchase?* PayPal bans someone besides me and says you'll have to get a lawyer to file a subpoena before they'll answer why* Re-creating Ginsberg brain? Maybe they should start with something simpler like Biden's brain. But it's to normalize transhumanism* Hunter brags Joe does whatever he says. He thinks he's god, says Joe is god and thinks he is god. * Biden coming after gas furnaces to effectively ban them. There will be NO energy used except what they ration via the grid* Do they care about EV battery fires? What are the emissions and how do you put the fire out?* Canadians are starting to catch on to conspiracies but they're still a little slowSegment 2 begins approximately 00:56:17* Listener letters* Why BigPharma MUST Push Jabs on Children. No case can be made for the safety, efficacy or benefit/risk of pushing jabs on infants & children. But there IS a compelling LEGAL advantage for BigPharma* Both Australia and Canada are unable to provide justification for continuing vaccine mandates. The Canadian official falls all over himself when asked about data & modeling* Multiple Navy planes crash — different models. Is it the jab?Segment 3 begins approximately 01:27:53* Yet another firebombing of a crisis pregnancy clinic by those who demand the "right" to murder babies? Here's the running count as the FBI does nothing* Tom Hanks says straight actors can't play homosexuals any more* Freedom March of those who have been saved as Christians from the power of LGBT. Will the pastors who've call for their execution repent? *"Ethics" professor calls for de-stigmatizing of pedophilia. This is the other extreme that Christians can fall off* A de-transitioned male talks about the physical hell the operation has put him through for the past 4 years* FDA tries to find more cases of baby formula infection to justify their "lockdown"* Baby food found to contain heavy metals that increase autism. Judge approves lawsuit to continueSegment 4 begins approximately 02:04:58INTERVIEW: Problem — Inflation, Recession, or Both? Will "Solution" Be CBDC? Dr. Alexander Salter, Comparative Economics Research Fellow with the Free Market Institute at Texas Tech University joins to discuss the economic dilemma and how Central Bank Digital Currency may be imposedSegment 5 begins approximately 02:54:14One example that sums up the failure and pending defeat of UkraineFind out more about the show and where you can watch it at TheDavidKnightShow.comIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughZelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Mail: David Knight POB 994 Kodak, TN 37764
Dr. Alexander Salter, Comparative Economics Research Fellow with the Free Market Institute at Texas Tech University joins to discuss the economic dilemma and how Central Bank Digital Currency may be imposed
In this episode of the Let People Prosper show recorded on May 18, 2022, I'm joined by Dr. Chuck Beauchamp, Assistant Professor of Finance at Mississippi College, and Alex Salter, Comparative Economics Research Fellow at the Free Market Institute at Texas Tech University. We discuss: What's contributing to persistent inflation; The need for improved fiscal policies and rules at the federal level; and Why people are demanding too much from our government and more resolutions should be left to the private sector. For thoughtful economic commentary and show notes, check out my newsletter: https://vanceginn.com/ Please rate with 5 stars and subscribe to the Let People Prosper Show if you enjoyed this episode. And be sure to check out the other episodes.
* INTERVIEW: Economist Alexander William Salter, professor Texas Tech Univ and Research Fellow at Free Market Institute. Inflation — how'd we get here and what's next. Also supply chain & energy disruption, Biden's Central Bank Digital Cash (CBDC) initiative, Universal Basic Income (UBI)* RegionSmart — a new unelected, unaccountable quasi-government organization structure that operates in the dark without visibility to the public. It will exercise eminent domain and work on "infrastructure". What could possibly go wrong?* Biden makes big moves toward eliminating privacy and liberty — and even private banks — all done by Executive Order, of course* Even performances of long dead Russian composers' music are being banned by the insane virtue signalers* 25 YEARS AGO: Video shows Biden explaining to NATO think tank that eastward expansion would be a serious threat to Russia and they would seek an alliance with China* War on Energy was well underway LONG before Putin's move against Ukraine. * Biden makes us dependent on foreign sources of energy who won't even answer his phone calls. But he blames everyone else and Elizabeth Warren's "solution" is even more absurdFind out more about the show and where you can watch it at TheDavidKnightShow.comIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughZelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Mail: David Knight POB 1323 Elgin, TX 78621
* INTERVIEW: Economist Alexander William Salter, professor Texas Tech Univ and Research Fellow at Free Market Institute. Inflation — how'd we get here and what's next. Also supply chain & energy disruption, Biden's Central Bank Digital Cash (CBDC) initiative, Universal Basic Income (UBI)* RegionSmart — a new unelected, unaccountable quasi-government organization structure that operates in the dark without visibility to the public. It will exercise eminent domain and work on "infrastructure". What could possibly go wrong?* Biden makes big moves toward eliminating privacy and liberty — and even private banks — all done by Executive Order, of course* Even performances of long dead Russian composers' music are being banned by the insane virtue signalers* 25 YEARS AGO: Video shows Biden explaining to NATO think tank that eastward expansion would be a serious threat to Russia and they would seek an alliance with China* War on Energy was well underway LONG before Putin's move against Ukraine. * Biden makes us dependent on foreign sources of energy who won't even answer his phone calls. But he blames everyone else and Elizabeth Warren's "solution" is even more absurdFind out more about the show and where you can watch it at TheDavidKnightShow.comIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughZelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Mail: David Knight POB 1323 Elgin, TX 78621
In this episode of Opposing Views, I was joined by Benjamin Powell and Jim Keady to discuss third-world sweatshops and working conditions in developing countries. We cover wages, hours, conditions, and employment opportunities. We then discuss the effect of international business, the impact of stable social systems, practical solutions to poverty, and much more. Benjamin Powell is a professor of economics and executive director of the Free Market Institute. His research focuses on economic development, migration, and political economy. He's the author of The Economics of Immigration and Out of Poverty. Jim Keady is an anti-sweatshop activist and human rights advocate who has been exposing Nike's treatment of overseas workers since the ‘90s. He speaks all around the country on the morality of sweatshops in today's industry. If you enjoyed this episode, be sure to hit subscribe! -- Sponsors: -NordVPN. Go to https://nordvpn.com/tmpp or use the code “tmpp” for up to 70% off your NordVPN Plan + 1 additional month for free. -Paleovalley. Try delicious and healthy products at https://paleovalley.com and use code “MP” for 15% off your first order. -- Follow Jim @JWKeady https://twitter.com/jwkeady Documentary by Jim Keady https://youtu.be/M5uYCWVfuPQ Books by Benjamin Powell https://www.amazon.com/Benjamin-Powell/e/B00FARNH8U/ref=dp_byline_cont_pop_book_2 ___________ Follow Me On ___________ All Platforms: https://linktr.ee/mikhailapeterson Facebook: https://facebook.com/mikhailapeterson Twitter: https://twitter.com/MikhailaAleksis Instagram: https://instagram.com/mikhailapeterson Telegram channel: https://t.me/mikhailapeterson ____________ Timestamps ____________ [00:00] Intro [03:33] Benjamin Powell & exact definition of a sweatshop [04:07] “A sweatshop is a factory, usually in a third world country, often engaged in apparel manufacture… with very low wages, poor working conditions, extremely long hours, [and] sometimes child labor" - Benjamin Powell [05:11] Any arguable benefits? [05:28] “Sweatshops are part of the process of economic development" - Benjamin Powell [06:22] “I don't say sweatshops are good or bad, they are simply a part of the process of economic development - Benjamin Powell [06:56] Who do sweatshops serve? [08:41] What activists seem to miss from the moral high ground [09:44] “When a worker chooses to work [there]… that's the least bad option on the table"- Benjamin Powell [10:24] Is having a legal minimum wage a reasonable solution? [11:48] “A legally binding rate will increase the wage of some workers [but] leads to unemploying others" - Benjamin Powell [15:35] What is price elasticity in economics? [17:43] “A lot of the reasons for low productivity have nothing to do with the workers" - Benjamin Powell [18:54] What are Benjamin Powell's thoughts on boycotts? [21:31] “[Take Bono:] there's a difference in helping poor people and singing about them" - Benjamin Powell [22:08] “Sweatshops bring in some of the things that are the proximate for economic development" - Benjamin Powell [23:20] Once all the countries develop, will the price of goods rise enormously? [25:54] Why don't sweatshop workers unionize? [28:59] Are there suicide prevention nets outside of factories? [32:09] Are there any legislative actions that might help? [35:08] Why do children work? [35:54] “You make people better by giving them better alternatives, not taking away already [bad ones]" - Benjamin Powell [36:09] Would an influx of cheaper workers negatively impact wages and living of American workers? [39:23] What's the strongest valid critique of the economic view of sweatshops? [41:11] Wrapping up with Benjamin Powell [43:29] Jim Keady's background [45:26] “I became and still am the first and only athlete to say no to Nike because of sweatshops" - Jim Keady [49:35] What's Jim's response to the claim that these sweatshops are the best opportunities for those people? [49:46] “It's a lazy argument—one that lacks imagination" - Jim Keady [53:06] “I believe we need to challenge the existing reality from the fundamental premise" - Jim Keady [55:19] Practical solutions [01:00:53] Does it make more sense to start improving the lives of the poor through basic social institutions? [01:02:58] “Phil Knight, the founder of Nike, is a psychopath" - Jim Keady [01:10:44] Is it possible that Nike has become a unique example because of their size and influence in so many small countries? [01:15:10] “Sweatshops are a gateway drug to questioning the system" - Jim Keady [01:15:22] When corporations rule the world [01:20:37] Is there money to be made from treating employees better? [01:23:15] Wrapping up [01:24:02] Extras:Keady calls Powell out, &c. #Wages #BenjaminPowell #JimKeady #Sweatshops #Nike #Unions
At a time when the COVID pandemic continues, and cities such as Sydney and Melbourne remain locked down, Gilbert Berdine MD from Texas Tech University Health Sciences Center shares his views on lockdowns and vaccine mandates with show host Gene Tunny. Toward the end of the episode, the conversation turns towards Dr Berdine's thoughts on vaping regulations. About this episode's guest - Gilbert G. Berdine MDAssociate Professor of Internal Medicine, Texas Tech University Health Sciences Center, Lubbock, TXFaculty Affiliate, Free Market Institute, Lubbock, TXDr. Berdine earned his B.S. degrees in chemistry and life sciences from the Massachusetts Institute of Technology in Cambridge, MA and his M.D. degree from Harvard University School of Medicine in Boston, MA. He completed residency in Internal Medicine and fellowship in Pulmonary Diseases at the Peter Bent Brigham Hospital (now called Brigham and Women's Hospital) in Boston, MA.Dr. Berdine was a faculty member at the University of Texas Health Sciences Center in San Antonio from 1983-1989. He was in the private practice of medicine from 1989-2009 when he returned to academia as a faculty member of TTUHSC.Dr. Berdine's current teaching activities include lecturer for the respiratory blocks in the 1st year Major Organ Systems course and the 2nd year Systems Disorders 1 course. His clinical duties include staff attending physician for the inpatient Pulmonary Consult Service, inpatient Internal Medicine Floor Service, and the outpatient Pulmonary Fellow Clinic. He also sees patients in the Pulmonary Clinic for Texas Tech Physicians.Dr. Berdine's research interests include the application of Austrian Economics to health care delivery and consumption. Dr. Berdine has published articles on these topics in peer reviewed journals and is a contributor to the Mises Daily Wire and the American Institute of Economic Research.Contact: gilbert.berdine@ttuhsc.eduLinks relevant to the conversationCOVID-19 Vaccines and the Delta Variant – AIER article by Gilbert Berdine MDLockdowns of Young People Lead to More Deaths from Covid-19 – AIER article by Gilbert Berdine MDCovid Misclassification: What Do the Data Suggest? – AIER article by Gilbert Berdine MDSometimes hesitancy is justified by Gilbert Berdine MDVaping Laws and the Treachery of Good Intentions by Gilbert Berdine MDEP100 – Incentivizing Vaccinations or Cash for JabsCorrespondence from Dr Berdine on COVID mortality ratesFollowing the recording, Dr Berdine provided the following clarification regarding COVID-19 mortality in the USA to show host Gene Tunny:...the mortality rate has a range of over 1000:1 depending on your age. The average mortality is heavily determined by the number of people over age 80 in the population. Based on latest census data and current CDC figures for COVID deathshttps://www.census.gov/data/tables/2019/demo/age-and-sex/2019-age-sex-composition.htmlhttps://data.cdc.gov/NCHS/Provisional-COVID-19-Deaths-by-Sex-and-Age/9bhg-hckuMortality expressed as 1/mortality : Age: MortalityUnder 5: 124,1265 to 14: 283,02715 to 24: 32,46125 to 34: 7,85035 to 44: 2,84545 to 54: 1,08755 to 64: 47565 to 74: 21375 to 84: 8785 +: 31Cumulative AgeUnder 5: 124,126Under 15: 199,917Under 25: 64,258Under 35: 20,120Under 45: 8,681Under 55: 3,880So, for 35 and younger, the cumulative mortality including the overcounting is less than 1/10,000. If one looks at annual mortality, the figure for Under 45 including overcounting is likely less than 1/10,000. If one adjusts modestly for overcounting, the figure for Under 55 is likely less than 1/10,000.Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
Ben Powell, Executive Director of the Free Market Institute at Texas Tech and author of "Socialism Sucks: Two Economists Drink Their Way Through the Unfree World" joins Brian for drinks and socialism bashing. Open an IRA w/ iTrustCapital to Invest in Crypto TAX-FREE! Get 1-Month FREE with Discount Code LIONS ($29.95 Savings) https://rebrand.ly/lionsofliberty http://www.Patreon.com/LionsofLiberty to produce your own episode and for all our amazing bonus content, like Good Morning Fuckhead, Conspiracy Corner, Rick and Morty Recaps, Do Nothing Man, Degenerate Gamblers and bonus interviews! Use ROAR for 25% off $75 at http://www.PalomaVerdeCBD.com Get a Tee at http://LionsofLiberty.Store Learn more about your ad choices. Visit megaphone.fm/adchoices
Ben Powell, Executive Director of the Free Market Institute at Texas Tech and author of "Socialism Sucks: Two Economists Drink Their Way Through the Unfree World" joins Brian for drinks and socialism bashing. Invest in your future with iTrustCapital and use LIONS for 1 month FREE https://rebrand.ly/lionsofliberty http://www.Patreon.com/LionsofLiberty to produce your own episode and for all our amazing bonus content, like Good Morning Fuckhead, Conspiracy Corner, Rick and Morty Recaps, Do Nothing Man, Degenerate Gamblers and bonus interviews! Use ROAR for 25% off $75 at http://www.PalomaVerdeCBD.com Get a Tee at http://LionsofLiberty.Store
Dan Smith is an associate professor of economics at Middle Tennessee State University and directs the Political Economy Research Institute at MTSU. Alex Salter is an associate professor of economics at Texas Tech University. Dan and Alex join David on a special live episode of Macro Musings to discuss their new book, Money and the Rule of Law: Generality and Predictability in Monetary Institutions. Specifically, they discuss knowledge and incentive problems in setting monetary policy, what is meant by “rule of law,” how to make monetary policy accountable, centralized versus decentralized forms of digital currencies, thoughts on free banking, and much more. Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings Alex's Twitter: @alexwsalter Alex's website: https://www.awsalter.com/ Alex's Free Market Institute profile: https://www.depts.ttu.edu/freemarketinstitute/people/salter.php Daniel's Twitter: @smithdanj1 Daniel's website: http://www.danieljosephsmith.com/about.html Daniel's MTSU profile: https://www.mtsu.edu/faculty/daniel-j-smith Related Links: *Seigniorage in a Cross-Section of Countries* by Reid W. Click https://www.jstor.org/stable/2601207 *Money and the Rule of Law: Generality and Predictability in Monetary Institutions* by Peter J. Boettke, Alexander William Salter, and Daniel J. Smith https://www.cambridge.org/core/books/money-and-the-rule-of-law/C825E982EDE5BD2BE41A99464DC885DB David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth
Chris Spangle, Harry Price, Rhinehold welcome Professor Alexander Salter, the author of the new book Money & The Rule of Law, to discuss inflation. What is it? How does it happen? Should we panic and buy gold? What is the Federal Reserve? How did lumber end up 450% more expensive than it was last year? What are the dangers of the US Government's debt? We answer all this and more. Time Stamps Inflation - 00:04:04 Senate Republicans Kill January 6th Commission - 01:01:42 Biden Validates Lab Leak Theory - 01:16:08 IU vs. Purdue's Approach to Vaccines - 01:30:29 Show Notes - https://wearelibertarians.com/wp-content/uploads/Inflation.pdf Video - https://youtu.be/DyLbU8B-Gwg Our Guest Alexander Salter is an economics professor in the Rawls College of Business at Texas Tech University and the Comparative Economics Research Fellow at TTU's Free Market Institute. He is the author of more than 150 academic and popular articles. Salter is the co-author of Money and the Rule of Law: Generality and Predictability in Monetary Institutions from Cambridge University Press, a #1 best seller on Amazon in Macroeconomics. There's No Need to Panic over Inflation - https://www.nationalreview.com/2021/05/theres-no-need-to-panic-over-inflation Twitter - @alexwsalter Money and the Rule of Law: Generality and Predictability in Monetary Institutions - https://amzn.to/3fx6NPD Learn more about your ad choices. Visit megaphone.fm/adchoices
Acton Line brings you a conversation with Dylan Pahman and Alexander Salter. Pahman is a research fellow here at Acton Institute and serves as executive editor of our Journal of Markets and Morality. Salter is an associate professor of economics at Texas Tech University, and research fellow of the university’s Free Market Institute. In this […]
Acton Line brings you a conversation with Dylan Pahman and Alexander Salter. Pahman is a research fellow here at Acton Institute and serves as executive editor of our Journal of Markets and Morality. Salter is an associate professor of economics at Texas Tech University, and research fellow of the university's Free Market Institute. In this episode they discuss the relationship between money and liberty. In his article, The American Tradition of Ordered Liberty, Salter writes that “The United States is an experiment both in revolutionary freedom and communal virtue. In other words, our public institutions reflect an ongoing quest for ordered liberty. Without understanding the sources of ordered liberty, we cannot come to grips with our own institutions.”This “source of ordered liberty” is found in the four pillars that Russell Kirk writes of in his book, Roots of The American Order. The first pillar is Jerusalem where we derive our Judeo-Christian tradition. The second is Athens with our classical Greek intellectual tradition. Third, is Rome, giving us our Roman legal tradition, and the fourth is London — our English constitutional tradition. “Jerusalem, Athens, Rome, London — these are the antecedents of ordered liberty in America. Each tradition left its mark on American social and political institutions, and continues to influence them today.”The American Tradition of Ordered Liberty – AIER Money and the Rule of Law - Salter’s bookFree Market Institute Reading Russell Kirk – Acton Institute PowerBlog Sirico on Russell Kirk and populism – Acton Institute PowerBlog Video: Samuel Gregg on Russell Kirk’s contributions to conservatism The History of Freedom in Antiquity - Lord ActonSubscribe to Acton Institute Events podcast See acast.com/privacy for privacy and opt-out information.
In today's episode, Eileen Norcross, Vice President for Policy Research at the Mercatus Center, chats with Alex Salter about a big question with a long pedigree, namely, is liberalism, in particular, classical liberalism, at odds with the concept of the common good. Salter is Associate Professor of Economics at the Rawls College of Business at Texas Tech University and Comparative Economics Research Fellow at The Free Market Institute. His research interests include monetary policy and the commercialization of space travel. The audio, as well as the transcript of this conversation between Norcross and Salter, has been slightly edited for clarity. Love the show? Consider giving us a rating on Apple Podcasts and be sure to check out Discourse Magazine for more. Resources: Eileen Norcross and Paul Dragos Aligica, Catholic Social Thought And New Institutional Economics: A Preliminary Assessment of Their Affinities and Areas of Potential Convergence Alexander Salter, Could Adam Smith Have Loved Distributism? Eugene Callahan and Alexander Salter, DEAD ENDS AND LIVING CURRENTS: DISTRIBUTISM AS A PROGRESSIVE RESEARCH PROGRAM Alexander Salter, THE CONSTITUTION OF ECONOMIC EXPERTISE: SOCIAL SCIENCE IN THE PUBLIC SQUARE, PAST AND PRESENT Alexander Salter, Learning to Love the Liberalism of Ludwig von Mises
Almost every country in the world has a central bank with a monopoly on money and that is independent of politics. But is it? For Alex Salter, an economics professor at Texas Tech University and research fellow with the Free Market Institute, the US government’s pressure on the Federal Reserve to help it finance deficits is larger than ever. He argues that, absent credible restraints on the Fed, investors face a perpetually unfavorable, low-growth environment. This week in our Discovery Group segment, we interview Frederick Bell, the CEO of Elemental Royalties (TSX-V: ELE), who makes the case for investing in royalty companies as a way to gain exposure to precious metals.
Almost every country in the world has a central bank with a monopoly on money and that is independent of politics. But is it? For Alex Salter, an economics professor at Texas Tech University and research fellow with the Free Market Institute, the US government’s pressure on the Federal Reserve to help it finance deficits is larger than ever. He argues that, absent credible restraints on the Fed, investors face a perpetually unfavorable, low-growth environment. This week in our Discovery Group segment, we interview Frederick Bell, the CEO of Elemental Royalties (TSX-V: ELE), who makes the case for investing in royalty companies as a way to gain exposure to precious metals.
Almost every country in the world has a central bank with a monopoly on money and that is independent of politics. But is it? For Alex Salter, an economics professor at Texas Tech University and research fellow with the Free Market Institute, the US government's pressure on the Federal Reserve to help it finance deficits is larger than ever. He argues that, absent credible restraints on the Fed, investors face a perpetually unfavorable, low-growth environment. This week in our Discovery Group segment, we interview Frederick Bell, the CEO of Elemental Royalties (TSX-V: ELE), who makes the case for investing in royalty companies as a way to gain exposure to precious metals. Show notes: http://goldnewsletter.com/podcast/fed-rule-of-law-thousand-cuts/
Benjamin Powell, North American editor of the Review of Austrian Economics and director of the Free Market Institute at Texas Tech University, answers all the questions you could have about sweatshops.
Alex Salter is an economist with the Free Market Institute at Texas Tech University. Bob asks him about his recent article (with Vincent Geloso) criticizing "state capacity" as an explanation for economic development. Along the way, they also discuss the historical record and its challenge to modern-day anarchists. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.
Alex Salter is an economist with the Free Market Institute at Texas Tech University. Bob asks him about his recent article (with Vincent Geloso) criticizing "state capacity" as an explanation for economic development. Along the way, they also discuss the historical record and its challenge to modern-day anarchists. Mentioned in the Episode and Other Links of Interest: The YouTube version (https://youtu.be/8y_O6dX5o1E) of this interview. Alex Salter's twitter account (https://twitter.com/alexwsalter) . Alex and Vincent Geloso's article on State Capacity (https://www.aier.org/article/state-capacity-economic-growth-and-reverse-causality/) . Ben Powell et al. on Somalia after state collapse (http://www.benjaminwpowell.com/scholarly-publications/journal-articles/somalia-after-state-collapse.pdf) . Two of Alex's recent articles on the Fed: two (https://www.aier.org/article/the-fed-wants-to-become-a-financial-central-planner/) . Help support (http://bobmurphyshow.com/contribute) the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media (http://podsworth.com/) .
Melissa Mann and Elena Leontjeva, president of the Lithuanian Free Market Institute (LFMI), talk about the work LFMI is doing to roll back unnecessary government spending during the COVID-19 pandemic.
Back in April 2019, I reached out to my guest today, and in October, we finally conducted this interview you're about to hear. I had seen some of his economic theory articles on a website called Mises.org, which I had been turned onto by the Tom Woods show. Anyway, he has the best breakdown of how interest works and and the moral repercussions of biblical lending and unbiblical lending. He didn't say it that way, but I was able to connect what he was saying with God's law, and I knew I had to at least reach out. He's the clearest teacher that I have found on how banking works, and if I can get off track for one second here, here's what he cleared up for me: There's two distinct functions that used to be totally separate in business—1) paying a bank to protect your stuff. 2) Saving money at a bank, lending it your money which they pay interest on. Sort of like the bank buys your money at wholesale prices, lots of small amounts, and it sells your money at retail and splits the interest earnings with you. Look up his lectures on YouTube. Fantastic teacher. Very clear and able to distill ideas to their essence. His name is Robert Murphy. He's a Christian and economist. He's a Research Assistant Professor with the Free Market Institute at Texas Tech, a Senior Fellow with the Mises Institute, and he's a co-host with Tom Woods on their podcast "Contra Krugman." We talk about: Bob's story from nominal Catholicism>atheism>Christ, reconciling Paul's commands to be subject to authority with Christian anarchism and anarchocapitalism, socialism in the early church, mandatory charity enforcement in the Bible, capital punishment, life ransoms for crimes, lawful slavery, negligent homicide insurance, and much more. This same interview is episode 74 on Bob's show. Bob turned the tables on me and started digging in to my ideas, and we had a fantastic time. I think it will be well worth your time, and it was definitely worth my wait.
Dr. Bryan Cutsinger, who earned his PhD in economics in 2019 from GMU, joins the podcast. He's a professor at Angelo State University in Texas, and also works with the Free Market Institute at Texas Tech. We discuss monetary policy: what it is, how it works (and doesn't), and historical examples. You wouldn't believe what Lyndon Johnson did to the Fed chairman when he was president. We also discuss some of Dr. Cutsinger's past research on the gold standard and monetary policy in the Confederacy during the Civil War. If you're interested in becoming a professor in economics, this podcast is also for you. Dr. Cutsinger discusses his many, many applications and interviews and gives some advice on how to make the transition from student to teacher.
Robert Lawson, Ph.D., holds the Jerome M. Fullinwider Endowed Centennial Chair in Economic Freedom and is the director of the William J. O'Neil Center for Global Markets and Freedom in the Cox School of Business at Southern Methodist University (SMU).Benjamin Powell, Ph.D., is the director of the Free Market Institute and a professor of economics in the Rawls College of Business Administration at Texas Tech University.Support the show (https://business.fau.edu/giving/)
Benjamin Powell stopped to talk about his book that he co-authored with Robert Lawson, Socialism Sucks: Two Economists Drink Their Way Through the Unfree World. Their goal was to reach people, learn about socialist policies on the ground, and OK… have a good time! Beer turned out to be a good starting point, but we explore much more like what are the actual measures of socialism, capitalism, and communism? We compared hotels vs Airbnb in Cuba, Georian wine, and the more dire situations in North Korea and Venezuela. Nonetheless, this was a fun episode, with a dash of Austrian Economics. A special thank you to our sponsors, Vaultoro.com and SaltLending.com for their continued support. Be sure to share the show on your socials! Benjamin is the Director of the Free Market Institute at Texas Tech University where he also serves as a professor of economics in the Rawls College of Business. He is also a Senior Fellow with the Independent Institute and the North American Editor of the Review of Austrian Economics. Prior to joining Texas Tech Benjamin was an Associate Professor of Economics at Suffolk University and an Assistant Professor of Economics at San José State University and the Director of the Center on Entrepreneurial Innovation at the Independent Institute. Benjamin became interested in economics through the writings of Milton Friedman, F.A. Hayek, Ludwig Von Mises, and Murray Rothbard. He earned his Ph.D. from George Mason University in 2003 where he studied Austrian Economics and Public Choice Theory.Commercial free broadcast from August 27, 2019 on the Heartland Newsfeed Radio Network, online at heartlandnewsfeed.com, Spreaker and other platforms.Listen Live: https://www.heartlandnewsfeed.com/listenliveFollow us on social mediaFacebook: https://www.facebook.com/hlnfradionetworkTwitter: https://www.twitter.com/HLNF_BulletinInstagram: https://www.instagram.com/heartlandnewsfeedMastadon: https://liberdon.com/@heartlandnewsfeedDiscord: https://discord.gg/6b6u6DTSupport us with your financial supportStreamlabs: https://streamlabs.com/heartlandmediaPayPal: https://www.paypal.me/heartlandmediaSquare Cash: https://cash.app/$heartlandnewsfeedPatreon: https://www.patreon.com/heartlandnewsfeedCrypto via 1UpCoin: https://1upcoin.com/donate/heartlandmediaBusiness contact: jake.leonard@heartlandnewsfeed.com
Benjamin Powell stopped to talk about his book that he co-authored with Robert Lawson, Socialism Sucks: Two Economists Drink Their Way Through the Unfree World. Their goal was to reach people, learn about socialist policies on the ground, and OK… have a good time! Beer turned out to be a good starting point, but we explore much more like what are the actual measures of socialism, capitalism, and communism? We compared hotels vs Airbnb in Cuba, Georian wine, and the more dire situations in North Korea and Venezuela. Nonetheless, this was a fun episode, with a dash of Austrian Economics. A special thank you to our sponsors, Vaultoro.com and SaltLending.com for their continued support. Be sure to share the show on your socials! About the Guests: Benjamin is the Director of the Free Market Institute at Texas Tech University where he also serves as a professor of economics in the Rawls College of Business. He is also a Senior Fellow with the Independent Institute and the North American Editor of the Review of Austrian Economics. Prior to joining Texas Tech Benjamin was an Associate Professor of Economics at Suffolk University and an Assistant Professor of Economics at San José State University and the Director of the Center on Entrepreneurial Innovation at the Independent Institute. Benjamin became interested in economics through the writings of Milton Friedman, F.A. Hayek, Ludwig Von Mises, and Murray Rothbard. He earned his Ph.D. from George Mason University in 2003 where he studied Austrian Economics and Public Choice Theory. If you like this content, please send a tip with BTC to: 1Q2QHoNowg8D2QzWhBQU1YrraG771aCpgS More Info: TatianaMoroz.com CryptoMediaHub.com BenjaminwPowell.com Purchase Socialism Sucks Friends and Sponsors of the Show: SaltLending.com Vaultoro.com *You have been listening to the Tatiana Show. This show may contain adult content, language, and humor and is intended for mature audiences. If that’s not you, please stop listening. Nothing you hear on The Tatiana Show is intended as financial advice, legal advice, or really, anything other than entertainment. Take everything you hear with a grain of salt. Oh, and if you’re hearing to us on an affiliate network, the ideas and views expressed on this show, are not necessarily of the those of the network you are listening on, or of any sponsors or any affiliate products you may hear about on the show.
(https://www.bobmurphyshow.com/wp-content/uploads/2019/07/ben-powell.jpg) Ben Powell, head of the Free Market Institute at Texas Tech, discusses his newly released book Socialism Sucks (co-authored with Robert Lawson). Powell and Lawson toured countries around the world to observe firsthand life under ACTUAL socialism–in places like North Korea and Venezuela–versus places that merely have large welfare states (like Sweden). They concluded that, well, socialism sucks. Mentioned in the Episode and Other Links of Interest: The new book by Ben Powell and Robert Lawson, Socialism Sucks: Two Economists Drink Their Way Through the Unfree World (https://www.amazon.com/gp/product/162157945X/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=consultingbyr-20&creative=9325&linkCode=as2&creativeASIN=162157945X&linkId=f68d9e0d34edbb4656945fe450f13077) . The Free Market Institute (https://www.depts.ttu.edu/freemarketinstitute/) at Texas Tech. The Economic Freedom of the World (https://www.fraserinstitute.org/studies/economic-freedom-of-the-world-2018-annual-report) Report (and related literature). A Powell essay on the economic case for immigration (https://www.econlib.org/library/Columns/y2010/Powellimmigration.html) . FMI’s Kevin Grier (and co-author) using synthetic control to assess the impact of Hugo Chavez’s regime. (https://econpapers.repec.org/article/eeejeborg/v_3a125_3ay_3a2016_3ai_3ac_3ap_3a1-21.htm) How you can contribute (http://bobmurphyshow.com/contribute) to the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media (https://www.podsworth.com/) .
Imagine you are a store owner who just sold $100 worth of items from your store, only to find out that the currency you received had devalued 25% overnight? This scenario rightfully scares people and leaves them reluctant to exchange cryptocurrency for goods or services. To address this topic, Josh and I sat down with Bob Murphy, an austrian economist and senior fellow at the Mises Institute with a Phd in economics from NYU. We discuss the historical significance of gold, if it can be tokenized, and how that would compare to other stable coins. What are the risks? What are the benefits? Listen and learn! About the Guests: Robert Murphy is a research assistant professor at the Free Market Institute. Dr. Murphy earned his B.A. in economics from Hillsdale College and his Ph.D. in economics from New York University. Prior to joining Texas Tech University, he was a visiting assistant professor at Hillsdale College, a visiting scholar at New York University, a research analyst at Laffer Associates, and a senior fellow with the Pacific Research Institute. He is currently Senior Economist at the Institute for Energy Research, where he writes a frequent column on the economics of climate change. Dr. Murphy also serves as a senior fellow with the Fraser Institute, a senior fellow with the Mises Institute, and a research fellow at the Independent Institute. He has authored numerous scholarly articles and energy policy studies, over 100 popular publications for lay audiences, and multiple books. His most recent book is Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015). He and best-selling author Tom Woods also host a weekly podcast, Contra Krugman, in which they critique the New York Times column of economist Paul Krugman from alternative economic perspectives. If you like this content, please send a tip with BTC to: 1444meJi7YjgQGNg3U8Z6qYZFA5cgz4Gmj More Info: TatianaMoroz.com CryptoMediaHub.com Vaultoro.com ConsultingByRPM.com BobMurphyShow.com TomWoodsCruise.com Friends and Sponsors of the Show: Blocktap.io Proof of Love Vaultoro.com The Local Maximum
Show Summary: Johnny and Raylene couldn't wait to talk to the Titan of "Choice", himself, Robert P. Murphy. This renowned economist from the Mises Institute is well known for being and esteemed author, a co-host on the show Contra Krugman and his new show “The Bob Murphy Show” He talks about "Argumentation Ethics", environmentalism, market borders, and a variety of other topics, which you won't want to miss! Johnny brings the Boom, Raylene brings the Bust, and Bob explains it all! About The Guest: Robert P. Murphy is a Senior Fellow with the Mises Institute and Research Assistant Professor with the Free Market Institute at Texas Tech University. He is the author of many books. His latest is Contra Krugman: Smashing the Errors of America's Most Famous Keynesian. His other words include Chaos Theory, Lessons for the Young Economist, and Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015) which is a modern distillation of the essentials of Mises's thought for the layperson. Murphy is co-host, with Tom Woods, of the popular podcast Contra Krugman, which is a weekly refutation of Paul Krugman's New York Times column. Robert Murphy also has his own Podcast” The Bob Murphey Show” About The Host: Johnny “Rocket” Adams was the creator and host of “The Johnny Rocket Launch Pad – Libertarian Rock n’ Roll Experience” and now “BLAST OFF with Johnny Rocket!” He’s also a musician, graphic artist, author, and former Chief Warrant Officer. Johnny spent his early days earning his stripes as a helicopter pilot in the U.S. Army. Back stateside, Johnny immersed himself in the classic works of Murray Rothbard, Henry Hazlitt, and Ludwig von Mises. From there the AnCap known as “Johnny Rocket” was born. Speaking truth to power from your cell phone tower, Johnny digests the philosophy of liberty and brings them to the man on the street on a weekly basis. Johnny Rocket was also the front-man of the rockabilly group “Hot Roddin’ Romeos” and puts pencil to paper with the critically acclaimed comic series “The Liberty Force.” New York Times best-selling author and podcast host Tom Woods calls Johnny Rocket “one of the most entertaining figures in the liberty movement.” About the Co-Host: Raylene Lightheart is an activist in the libertarian movement. She is a dedicated wife and homeschool mom of five. She is passionate about self-ownership, free association community, and unfettered liberty. Raylene is the director of marketing and sales of Launchpad Media Group. She is the assistant communications director for Libertarian Party of Washington State and also serves as Region 3 alternate. She also is on the board of Libertarian Party of Kitsap County and was awarded the 2018 Porcupine Award for LPWA. As a child, Raylene dreamed of being in broadcasting. When Johnny asked her to be the co-host for his new show, Blast Off! With Johnny Rocket she was thrilled to have the opportunity to advance liberty through education, outreach, and entertainment. About Ground Control: Benjamin Wiegold is a fellow Libertarian, from the corrupt state of Illinois. Ben is the new producer, sound engineer, and editor of the Blast Off! With Johnny Rocket. Ben has also done work for the Mises Institute and numerous other publications. Ben is a musician, hardcore anarchist, and just an all-around cool dude! Host Website: www.blastoffshow.com or thelaunchpadmedia.com/blastoff Guest Website(s): The Bob Murphy Show , and his work at Mises Music Provided By: Voodoo Swing - “So Fine” Psycho Devilles - “Brooklyn” --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/blastoff/support
Ah, the frustrations of economics and new crypto folks. Look, I love when eager people get into the space, but I can’t help but get a bit upset when they don’t have the critical understanding of economic underpinnings needed behind their suggestions to help the world. This is the difference between most well intentioned folks who end up with Venezuela, and the enlightened ones (kidding) that have studied a bit of Mises or Rothbard. So in this episode, I have to bring out the big guns. Bob Murphy, economist, karaoke king, and of course, a good friend that knows how to explain boring stuff in a fun way! Want to learn why OG crypto enthusiasts make a face when talking about the Fed or the Great Depression? Check out this episode! Be sure to check out his new podcast the BobMurphyShow.com/. Also, be sure to visit us on the Contra Krugman Cruise and use the coupon code “TATIANA” to get a free album download! About the Guests: Robert Murphy is a research assistant professor at the Free Market Institute. Dr. Murphy earned his B.A. in economics from Hillsdale College and his Ph.D. in economics from New York University. Prior to joining Texas Tech University, he was a visiting assistant professor at Hillsdale College, a visiting scholar at New York University, a research analyst at Laffer Associates, and a senior fellow with the Pacific Research Institute. He is currently Senior Economist at the Institute for Energy Research, where he writes a frequent column on the economics of climate change. Dr. Murphy also serves as a senior fellow with the Fraser Institute, a senior fellow with the Mises Institute, and a research fellow at the Independent Institute. He has authored numerous scholarly articles and energy policy studies, over 100 popular publications for lay audiences, and multiple books. His most recent book is Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015). He and best-selling author Tom Woods also host a weekly podcast, Contra Krugman, in which they critique the New York Times column of economist Paul Krugman from alternative economic perspectives. If you like this content, please send a tip with BTC to: 1444meJi7YjgQGNg3U8Z6qYZFA5cgz4Gmj More Info: TatianaMoroz.com CryptoMediaHub.com ConsultingByRPM.com BobMurphyShow.com TomWoodsCruise.com
Topics include: New branding for Zencash, now Horizen The upcoming Contra Cruise, October 21-28 Universal basic income, pros and cons P3D, POWH.io, and FOMO3D Thank you to my new sponsor, Equity Trust. Check out their free e-book, “Guide to Investing in Digital Currency with an IRA.” In this episode, entrepreneur Rob Viglione discusses new branding for his company, Horizen (formerly Zencash). The coin name and ticker remains “ZEN,” and users of zencash don’t need to change anything! The new branding reflects their broader vision to build a full digital economy, including investments, new wallets, and liquid democracy with an on-chain voting system. See their website and exciting new projects at horizen.global. Next, we feature Bob Murphy, an economist at Texas Tech University, the Institute for Energy Research, the Fraser Institute, and The Independent Institute. He’s also a co-host of Contra Krugman, a weekly podcast in which he addresses The New York Times economist Paul Krugman. Relatedly, I’ll be joining Bob Murphy on the upcoming Contra Cruise, October 21-28, sailing from San Diego along the Mexican coast with like-minded libertarians, economists, and fun people. At various stops, people can enjoy beaches and touring local cities. While sailing, the cruise features sessions in the morning on history, economics, and more. Bob Murphy discusses how he became interested in cryptocurrency and how he brought his knowledge of monetary theory to understanding the new technology, eventually releasing a book online, Understanding Bitcoin. I also recently did an episode of The Tatiana Show on P3D, POWH.io, and FOMO3D. Bob assesses their models along with ideas about universal basic income and existing solutions to certain economic problems, such as Sam’s Club. Do you think P3D or similar projects represent brilliant new economic models? Do you support a universal basic income policy? Comment below or ping me on Facebook or Twitter. About the Guests: Robert Murphy is a research assistant professor at the Free Market Institute. Dr. Murphy earned his B.A. in economics from Hillsdale College and his Ph.D. in economics from New York University. Prior to joining Texas Tech University, he was a visiting assistant professor at Hillsdale College, a visiting scholar at New York University, a research analyst at Laffer Associates, and a senior fellow with the Pacific Research Institute. He is currently Senior Economist at the Institute for Energy Research, where he writes a frequent column on the economics of climate change. Dr. Murphy also serves as a senior fellow with the Fraser Institute, an associated scholar with the Ludwig von Mises Institute, and a research fellow at the Independent Institute. He has authored numerous scholarly articles and energy policy studies, over 100 popular publications for lay audiences, and multiple books. His most recent book is Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015). He and best-selling author Tom Woods also host a weekly podcast, Contra Krugman, in which they critique the New York Times column of economist Paul Krugman from alternative economic perspectives. Rob Viglione is co-founder of ZenCash, a decentralized blockchain-based platform for private transactions, communication, and document publishing. He’s also a Board advisor for ETHlend and HeroEngine World. As a PhD candidate in finance, Viglione is an expert in crypto-finance, asset pricing, and crypto-related innovations, and teaches university courses about Bitcoin and blockchain applications. If you like this content, please send a tip with BTC to: 1444meJi7YjgQGNg3U8Z6qYZFA5cgz4Gmj More Info: TatianaMoroz.com CryptoMediaHub.com ConsultingByRPM.com Zencash.com Friends and Sponsors of the Show: TheBitcoinCPA.com CryptoCompare.com FreeRoss.org ThirdKey.Solutions SovrynTech.com www.SexAndScienceHour.com www.TrustEtc.com/Crypto
Show support appreciated: 35iDYDYqRdN2x6KGcpdV2W1Hy3AjGje9oL Matthew & Fernando interview Žilvinas Šilėnas, President of the Lithuanian Free Market Institute. Good discussion getting back to basics on the state of classical liberal thought and economics in Eastern Europe, particularly in Lithuania. Žilvinas and his team at LFMI are doing amazing work advocating for classical liberal economic policies in their country, and their influence goes beyond their borders. He shares some insights on how and why they have been so successful in Lithuania. As far as Bitcoin and cryptocurrencies go, Žilvinas shares many good points on currency competition and why this asset class should be treated like any other good, as far as regulations go... don't mess with it! Links for more info: https://twitter.com/zsilenas https://www.facebook.com/zilvinas.silenas https://en.llri.lt/ https://freema.org/ https://www.atlasnetwork.org/about/people/zilvinas-silenas Great festival if you are traveling to Lithuania! http://www.vilnius-events.lt/en/event/kaziukas-fair-2/ Show sponsor: https://hodlhodl.com/ Hosts: Matthew Mežinskis, Fernando Ulrich Music: New Friend Music newfriendmusic.com/ Site: cryptovoices.com/ Podcast & Information Cryptoeconomics & Liberty Thanks for listening! Show content is not investment advice in any way.
#17: What This Episode Is About Robert Murphy, PhD, is an Economist, a Research Assistant Professor at the Free Market Institute at Texas Tech University, the co-author of numerous books, and the host of two different podcasts. In this episode, we talk about whether or not the stock market is getting ready to crash, should we…
https://www.youtube.com/watch?v=dYURsXmE2lc Robert Murphy discusses an out-of-the-box strategy, Infinite Banking, that complements the entrepreneur. He is an economist in an unconventional wrapper. His sense of humor and straight-talk help him convey the most difficult concepts with elegance and simplicity we can all understand. He's a free market thinker with the courage to be contrarian. He goes against the grain of the financial and economic status quo that marginalizes entrepreneurs and disregards their primary needs. Instead, he salutes the nobility of entrepreneurship. He gives clear-cut guidance on how to fortify their financial footing with cash flow and control of capital. Table of contentsWhere Infinite Banking Fits into Your Cash Flow SystemRobert Murphy Has Credentials That Have Earned Him Wide RespectRobert Murphy Interview HighlightsThe Human Element That Makes Economics UnpredictableAustrian Economics Celebrates the EntrepreneurThe Austrian Business Cycle Theory Informs the EntrepreneurProtect Your Ability to Innovate by Controlling Your CapitalHow Robert Murphy Connects Austrian Economics with Infinite BankingRobert Murphy and Carlos Lara Host the Night of ClarityThe Entrepreneurial MindsetInfinite Banking Is the Perfect Savings System for EntrepreneursBob Murphy Went From Whole Life Insurance Skeptic to EvangelistRobert Murphy on What Makes the Infinite Banking System Good for Business Owners Infinite Banking Is Your Tool to Emulate the Most Powerful Business Model in the World: The BankRobert Murphy Says You Can Seced from the Banking SystemAn Infinite Banking Policy Is Like a Swiss Army KnifeA Good Rate of Return, Compared to What?Infinite Banking Is Most Powerful as an “AND Asset”Our Personal Story Illustrates Why Whole Life Is an Ideal “AND Asset”It's No Secret That Banks and the Wealthy Store Reserves in Cash Value Life InsuranceThe Mindset Shift Required to Take Control of Your CapitalConnect with Robert MurphyCreate Your Time and Money Freedom Where Infinite Banking Fits into Your Cash Flow System Infinite Banking (Privatized Banking) is just one step in the greater Cash Flow System. Infinite banking is sandwiched between Stage 1, where you're being more efficient and keeping more money you already make, and Stage 3, where you're increasing cash flow from your investments. While it's nestled into Stage 2, Protection, it also improves everything else around it. Infinite Banking helps you keep more of the money you make in Stage 1, amplify your cash-flowing asset strategy in Stage 3, and accelerate your Time and Money Freedom. Robert Murphy Has Credentials That Have Earned Him Wide Respect Robert P. Murphy is an austrian economist and Research Assistant Professor with the Free Market Institute at Texas Tech University. Along with Tom Woods, he is co-host of the popular podcast “Contra Krugman.” Robert has a Ph.D. in economics from New York University. He is also Senior Economist with the Institute for Energy Research, Senior Fellow with the Fraser Institute, Senior Fellow at the Mises Institute, and Research Fellow with the Independent Institute. He's a prolific author and speaker on Austrian economics. Robert Murphy has testified before Congress on energy markets and monetary policy and has given numerous interviews on TV and radio. He is the author of hundreds of articles and several books on economic topics created for the layperson. He publishes (with Carlos Lara) the Lara-Murphy Report, and is co-creator of the IBC Practitioner Program. He's a member of the board at the Nelson Nash Institute. His works have been published in: The AustrianMises Daily ArticleThe Journal of Libertarian StudiesQuarterly Journal of Austrian EconomicsMises ReviewThe Free MarketReview of Austrian EconomicsSpeeches and Presentations Robert Murphy Interview Highlights The Human Element That Makes Economics Unpredictable
Robert Murphy is a professor of economics at the Free Market Institute at Texas Tech University, co-host of Contra-Krugman with Tom Woods, and author of many great books on economics including The Politically Incorrect Guide to Capitalism. This is a wide-ranging conversation that goes from what sparked Bob's intellectual in free-market economics, to starting the Contra-Krugman Podcast, to a deep dive into Economics and specifically Austrian Business Cycle Theory. In This Episode: - What sparked Bob's interests in free market economics? - Writing The Politically Incorrect Guide to Capitalism. - The back story behind the Contra-Krugman podcast. - Overviewing the different schools of economics. - Austrian Business Cycle Theory - Would a perfectly free economy be stable? - Why do waves of bankruptcies all line up together? - The difference between what the Austrian School says and the Efficient Market Hypothesis - Is it harder for the Fed to manipulate the economy now? - From an Austrian perspective, what is concerning with the economy today? - Staying positive when you know that there will be large negative consequences to monetary policy. Full show notes with links at isaacmorehouse.com/podcast If you are a fan of the show, make sure to leave a review on iTunes. All episodes of the Isaac Morehouse Podcast are available on SoundCloud, iTunes, Google Play, and Stitcher.
My guest in this episode is Robert Murphy. Bob is a Research Assistant Professor at the Free Market Institute at Texas Tech. He has a PhD in economics from New York University. After teaching for three years at Hillsdale College, Bob left academia for the financial sector, where he worked on portfolio management and economic research at Laffer Associates. Bob now is president of Consulting By RPM, and runs the popular economics blog “Free Advice” at ConsultingByRPM.com. Bob has testified before Congress and has given numerous interviews on TV and radio. He is the author of hundreds of articles and several books on economic topics aimed at the layperson, including The Politically Incorrect Guide to Capitalism (Regnery 2007), How Privatized Banking Really Works (2010 with Carlos Lara), and Lessons for the Young Economist (Mises Institute 2010). Bob is a Research Fellow at the Independent Institute and is the Senior Economist for the Institute for Energy Research, where he specializes in the economics of climate change. Murphy is on the board of the Nelson Nash Institute, which promotes understanding of Austrian economics and the Infinite Banking Concept (IBC). Interview Links: www.Lara-Murphy.com Nelson Nash Institute If you have enjoyed our podcast, please share with friends and family Please Subscribe, Rate, and Review on Itunes so more people can find us! so more people can find us! Please Support Us by Becoming A Patron on Patreon Open Your Goldmoney Account & Get A 5% Bonus Support Our Sponsors Gelt Inc., is committed to providing investors with quality, cash-flowing investment opportunities and is seeking to acquire multifamily, retail, and mobile home park properties in the Western United States with an emphasis in California, Utah, Nevada, Arizona, Colorado, and Oregon. www.geltinc.com The Real Asset Investor, create value for investors looking for higher yield returns from real estate ventures domestically and also internationally and other real asset classes such as ATM's. www.therealassetinvestor.com Joint Ops Properties, have designed a system to take any beginner to an experienced deal making investor in the least amount of time, offering opportunities from basic education, coaching, bridge investing to turn-key investments in the cash flowing market of St. Louis, MO. www.jointopsproperties.com Norada Real Estate helps take the guesswork out of real estate investing. By researching top real estate growth markets and structuring complete turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability. www.noradarealestate.com Valhalla Wealth Financial, reclaim the banking function within your own life with the premier strategies of the Wealthy. www.valhallawealth.com Audible, download any audio book for FREE when you try Audible for 30 days www.cashflowninjabook.com Thanks so much for joining me again. Have some feedback you’d like to share? Leave a note in the comment section below! If you enjoyed this episode, please share it using the social media buttons you see at the bottom of the post! Also, please leave an honest review for the Cashflow Ninja Podcast on iTunes. Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them. And finally, don’t forget to subscribe to the show on iTunes to get automatic updates, please follow me on twitter @mclaubscher and Instagram, @cashflowninjapodcast. Until next time! Live a life of passion and purpose on YOUR terms, M.C. Laubscher
What follows is an edited transcript of my conversation with Vincent Geloso. Petersen: My guest today is Vincent Geloso of the Free Market Institute at Texas Tech University. Vincent, welcome to Economics Detective Radio. Geloso: It's a pleasure to be here. Petersen: So the paper we'll be discussing today is titled "A U-curve of Inequality? Measuring Inequality in the Interwar Period" which Vincent has co-authored with John Moore and Phillips Schlosser. The paper casts doubt on the claim from, most notably, Thomas Piketty and others that inequality fell from the 1920s to the 1960s and rose thereafter. So, Vincent let's start by discussing the inequality literature prior to this paper. What is this U-curve and where did it come from? Geloso: The U-curve is probably the most important stylized fact we have now in the debate over inequality and the idea is that, if you look at the twentieth century, there's a high point of inequality in the 1910s, 1920s and then from the 1930s onwards up to 1970s, it falls dramatically to very low levels and re-increases thereafter, returning to 1920s-like levels of inequality. So the U-curve is the story of inequality in the twentieth century. It's mostly a U.S. story because for other countries it looks less like the U-curve than an inverted J. So it's higher in the 1920s, it still falls like in the U.S. but really increases much more modestly than the United States in places like Sweden, or France, or Canada. But the general story is that there was a high level of inequality at the beginning of the century well up to the mid-second-half of the twentieth century and it re-increased in the latter years and then we have been on a surge since then. Petersen: So, a lot of this is coming from Thomas Piketty, who of course wrote the surprising bestseller "Capital in the Twenty-First Century." Could you talk a little bit about where his data came from? Geloso: Okay, by the way, this is where there's a failing on my part which I think I always find funny; an anecdote to tell about Piketty. I'm originally from Quebec, so I am a French-Canadian, I speak fluent French. His work started coming out in French first and I initially started to write elements of the paper we're discussing today back when it was only in French. And then I told myself, "There's no point, it's only a French book, nobody reads French. What's the point of writing a paper about a book that no one will read?" Biggest mistake of my career, I guess, not writing that paper before. But anyways, besides that, his entire argument is based largely on his most influential paper---which I think was published in 2003 in the Quarterly Journal of Economics---which was using tax data. So, the records, the fiscal statistics to create measurements of income inequality in the United States and the advantage of that is that since the income tax started in 1910s you've got a long, long period of measurement of income inequality with the same source. So it's a great advantage because a lot of the people before like Kuznets, like others had to use residual estimates, different sources, they were amalgamating different sources together and it was always a problem because you couldn't create one homogeneous time-series of inequality. You could get a rough idea and there's a few papers---for those who read economic history stuff---there was a paper by Lindert and Williamson in the 70s in research in economic history and you can see their first graph in that paper was a series of different measures of inequality. They were all pointing to the general similar shaped curve but they were all from massively different statistics, different sources. So one was the 50:10 ratio of earnings, another one was a measure of income, the other was wages and they are all different measures, they are not perfect. You can get a good idea, a rough idea but you cannot have a continuous time estimate which is what Piketty innovated by using the tax-wealth with Emmanuel Saez, recreating this long continuous trend in data from 1917 to the modern day. And they keep updating it regularly to include the new data on a yearly basis. Petersen: So tell me about tax avoidance. How does that affect things? Geloso: Okay, this is where the existing data that all the different sources had---Piketty made advancement. Rather than having variance across different sources, he was eliminating that variance. But there's still an issue of variance within a source. So it's not because you have used a homogenous source that the quality of the data contained within the source is consistent. There's actually quite a lot of variance in data quality because of the way the tax system was done. So a lot of the debate today for the data for today has been---has there been such a large increase in inequality as Piketty and Saez and Atkinson and others have been pointing out? And the reason for that was largely because, as Alan Reynolds, as Joel Slemrod, and a few others have pointed out, the tax changes of the 1980s were so large that people shifted the way they reported income. They changed the way they reported tax liability. What used to be classified as corporate income became classified as individual income, and so you get an artificial increase because of a way the tax system has changed. And this is why a lot of people say, as soon as you correct for the effect of changes in tax reporting behavior, you actually get a much more modest increase of inequality. But that's from 1980 to today with a massive tax change in the 1980s. If you go back further in time, to the interwar period the tax changes are much more dramatic. In 1913, the tax rate was 7%, went up to 15% in 1916 to 73% until 1921, went back down to 24% by 1929, went back up to 79% by 1939. Imagine, that's a lot of movements in the way taxes will affect behavior and it will affect reporting behavior. So, will you report, will you be as honest as you would be when you're filing taxes at 79%, as you are when you're filing taxes at 24%? So you're getting---because of these massive changes in tax regimes that are happening over very short periods of time---these massive changes affect the quality of the data set that Piketty is using for the left side of his U-curve. The left side of the U-curve is probably inaccurate to a very high level because of tax avoidance, and this is where the economists in general failed to talk to historians because there's a few papers out there that did measure---especially in the Journal of Economic History---that did measure changes in reporting. So changes in tax avoidance occur basically to a large level by the top incomes, as Gene Smiley argues in the Journal of Economic History, for example, which Piketty has never cited neither Saez, neither anyone in the debate. And he did corrections, so he checked: Okay, when a tax rate went down from 73% to 24%, did people change their reporting behavior? Did more rich people start to report incomes? And the answer is 'yes.' And as soon as he started doing corrections for that to control the "artificialness"---if that's a word---of the tax changes on affecting the level of inequality, he actually finds that the 1920s have a much lower level of inequality because of the reduction in tax rates and there was very little upward trend, especially when we're comparing with the Piketty, with the Mark Frank data, with the Kuznets data and it shows that as soon as you adjust for tax avoidance the left side of the U-curve flattens dramatically and it looks more like an L---an inverted L---or a J, but it doesn't look at all like a U-curve and that's just tax avoidance for the 1920s. The increases in the 1930s in tax rates would have had the opposite effect where people would have reported less income. So, the level of inequality in the 1920s is overestimated in Piketty and it's underestimated for the 1930s. So you're kind of flattening the entire interwar period as soon as you consider the one issue of tax avoidance. And there are estimates out there in the Essays in Economic and Business History by Gene Smiley and Richard Keehn. Smiley's article in the JEH, which has been ignored in the literature, but which did check that people at the top of the income distribution are generally very sensitive to changes in tax regime in the way they report their tax liability. Petersen: So, today they would do that by maybe registering---having their money in the Cayman Islands or Ireland or the Isle of Man, their tax shelters abroad. Was the avoidance different in the 1920s? I expect it would be harder to enforce taxes given that the income tax was so new and there were all these changes and they didn't have electronic records, or how did it work? Geloso: You're thinking of avoidance in a very negative term which is the illegal part, which is what has somewhat permeated the public debate and I have this reflex myself. I think of avoidance always in that way. But avoidance is sometimes just planning your taxes, your sources of income, differently. One example would be---and it's not really applicable to our case---parents can put their kids on company payroll because it's cheaper dollar for dollar relative to giving them an allowance from after-tax personal income. So, people can change their behavior in their way to get money, in the way they report their income. So you can pass corporate income as a personal income or personal income as corporate income. You can deduct expenses one way or another. And one way or another it comes to affecting the quality of the data set. And it does matter, because if you look at the 1980s when there was a rapid change in the income tax rate, which was much more important a change than the change in the corporate tax rate, it led people to change the type of incorporation they were in, so they became S corporations, so corporations that were not subjected necessarily to the corporate income tax. So, it affected the way people reported, classified their income and it appears artificially the income inequality statistics. The 1920s' equivalent was municipal bonds. Municipal bonds were assets that delivered incomes but they were not subjected to taxes so this was like a tax shelter that was completely legal and that rich people used in dramatic amount to reduce their tax liability. So, when people think of tax avoidance it's generally this idea that people just reorganized their classification of income to make sure they have the smallest liability possible and in a situation like that, what you get is a much different level and trend of inequality because of the changes in tax regimes that induce changes in tax reporting behavior. Petersen: So is Piketty not adjusting for this at all? He's just taking the tax data at face value? Geloso: He's trying some stuff but he gets a lot of the tax history quite wrong and what alerted us to this is that Gene Smiley's paper, which is not in an obscure journal, it's in the Journal of Economic History which is considered a top tier journal in the profession of economics---it's not AER, it's not QJE, but it is a very respectable journal. And Smiley's article is also very cited. There's a large number of citations of that paper and Piketty just ignores it. And you skim through his book and the discussion is always brushed aside and these effects of changes in tax regimes is always minimized as if it was not important. But tax avoidance is only like a fraction of the problem, because if you look, there's another issue that's much more dramatic than tax avoidance. Alone the issue of tax avoidance, if you take Smiley's stuff, changes the narrative dramatically but that's just our first shot in this debate with me, John, and Philip. It's our first shot, the second shot is that filing requirements were nowhere close to what they are like today. And actually this is something funny, the idea of Piketty is that you can create a series assuming tax compliance for a country that was founded on a tax revolt which is---for a historian---kind of a weird assumption built in the way he does his history part. And if you look at it, one of the example is that you look at the changes in wages of people---wages for unskilled workers, wages for mining workers, for agricultural workers---they do not evolve at all like his bottom 90% of income behaves, it behaves actually very differently. So, in our paper we show that the quality of what's at the bottom of the income distribution is dramatically different, so wages go up much faster than the income of the bottom 90%. And this is wages. So, you think what, maybe hours are going down? No they're not in the 1920s and 30s---well in the 30's they're going down---but in 1920s hours are actually staying stable and in some industries are actually slightly increasing. So you should not see what Piketty's data suggest, which is that there was stagnation in the income of the bottom 90%. There was declining unemployment, there was rising wages and hours remaining relatively stable. It's impossible to reconcile these facts with those of Piketty without considering that there might be problems in the way people filed their taxes. And this is where the entire thing breaks down and you look at, for example, the number of tax filers that were actually there. And you look at that as a percentage of the American population, up to the 1930s---so until the Second World War---there's never more than 6 or seven 7 percent of population that files in tax reports. Petersen: And you'd expect it to be the wealthier people too, who are filing right? Because you have people below a certain income, they don't file income tax, right? Geloso: Exactly. This wouldn't be a problem if your distribution of people behaved equal to the distribution of the general population and the movements were the same. It wouldn't be a problem. The thing is when you look at the number of adjusted tax returns which is what Piketty and other people like Estelle Sommeiller or Mark Frank do. They try to re-correct this issue of a very small number of tax reports that were actually filed in and they get an idea---and this is figured too, I think, in our paper. There's a steady upward trend in the number of adjusted tax units but when you look at the actual number of tax units it moves so much. It goes up and down and it doubles in the span of two years, then it reduces by half in the span of another two years and these are such large movements in the number of tax units that it's hard to see that this might be a representative sample of the American population. Differences in reports and such changes in our reporting---and the number of reports I should say---suggest that there is actually a problem in the quality of the data. And this is where we're saying that if you combine this with the observation that wages were increasing, unemployment was falling, and that hours were more or less stable, and that you add this fact of the massive changes in tax returns, you can easily question the quality of the data from the 1920s and the 1930s. This is where we're coming in and we're saying, no, the people who reported taxes were very volatile. They were rich people who reacted to changes in income taxes. Lower income individuals also were very much tax resisters. There's an entire story told by David Beito. I think it's with University North Carolina Press. He has a book on tax resistance in the United States during the 1920s and 30s and there's actually a large documentation of anti-tax leagues that have massive memberships of common individuals who are resisting filing taxes at that time. So it's quite plausible to say that, if there's such a difference in wages, in hours, in unemployment what they and these massive changes in the number of tax returns filed, it suggests that probably the poor people just didn't file in their taxes. So, any movement at the bottom of the distribution does not exist according to Piketty's data. But there were movements at the bottom. There were people who moved from poor Kansas to Illinois. They were still in the bottom 90% but by moving from farming Kansas to Chicago to work in a garment industry, they get a gain in income but that is not captured in Piketty's data because it's highly likely that poor individuals tended to file fewer tax returns and were probably more hostile to filing them, and the rich were just reacting to changes in tax regimes. So, the tax filing requirements would actually lower the level of inequality overall from the 1920s and 1930s. So, the tax avoidance issue would change the trend and the issue of tax filing requirements would drop the level because we're not capturing bottom incomes properly. So you're changing the U-curve progressively as each of our critiques is embedded in the argument you actually progressively bring down the left side of the U-curve and it looks more and more like a J, or an L, or a hockey stick. Petersen: I remember in 2012 Mitt Romney got in trouble for pointing out that 47% of the population doesn't pay income tax. So if Mitt Romney were running for president in the 1920s, I guess he would have said something like 94% of people are not filing and paying income taxes. Is that right? Geloso: Exactly. That would be a very accurate. Well it's 94% of people. The taxes were based on households, but still 6% and then later on after the Second World War it jumped above 40%. So there's a massive change not only in tax regimes in terms of rates, but filing requirement regimes, which will also change the tax behavior of individuals. And not only that, this is something that actually, it was buried in a footnote of Smiley's article which is---still I will point out not cited by Saez and Piketty---but it's so rigorous and it contains so many pieces of information that are crucial. Until 1938 public sector employees were not mandated to file in taxes. This is an unknown fact. Until 1938 they did not have to file in taxes. So this is actually a very very big factor. So in terms of wage earners, so not everyone, it excludes farmers, but all wage earners, 12% of them were government workers. This is a substantial share of the workforce and not only that, their earnings are slightly above the rest of the workforce and the increase in their earnings is above those of the other workers in the United States in that period. But they're just not considered in the tax distribution. So until the public salary Act of 1939---which was debated in the Senate in 1938-1939, the 1.2 million federal employees---this is a large number---were drawing large wages and they're just not included in the statistics based on tax data. This has a massive impact on the level of inequality. Public workers were not in the top 1%, they were not the richest, they were not poor and they were earning much more over time. I'm not trying to debate whether it was efficient government spending or if they were paid at actually providing public goods that people actually did want. But set that issue aside, they had higher wages than the average representative of a sizeable share of the workforce and their wages increased much more importantly than other ones. So you're affecting the trend. You're affecting the level and you add this other issue and then look again, imagine the U-curve in your head. Tax avoidance, it changed the trend. It made it less, it made it much lower in the 1920s than it was. It increased it relative to the Piketty data in the 1930s. The entire level then is reduced by adjusting for tax filing problems and then if you tried to adjust the issue of public sector employees who didn't have to file in their taxes you drop the level again, so it's looking less and less like a U-curve than what Piketty claims. So, we haven't made all these adjustments, we're just stating facts that should be known in the inequality debate. Our goal is later on to test each of our points. We're sending such a large number of criticisms that there's bound to be one that sticks in terms of the data quality. Because these are such huge data quality that it effects a major stylized fact about inequality: the U-curve. If today we believe that the U-curve---there's a debate over whether or not there's been such a large increase---everybody agrees that there's been an increase, but there's a massive debate over how big this increase is today. Imagine how crucial it would be to correctly debate the level of inequality and the trend of the left side of the U-curve. And if we're having all these debates with all the survey data, all the census data, all the private big data stuff that we have out there for the modern era and we still have high level of uncertainty, imagine anything with all the points I've mentioned for the interwar period, the left side of the U-curve. Everything seems to indicate that's probably much lower. I'm not saying there's not a U-curve, maybe it looks like a ball, a very modest ball, or there's a slight decrease, there's a slight increase, but it's not Piketty's U-curve, it's not the same stylized fact. And it changes the narrative we should have about inequality. Petersen: Yeah, I'll never forget one experience I had. It was the original Occupy movement and I went down to see the protests going on in Victoria B.C. where I was at the time and one guy just had a big sign where he had printed off a graph. You know, an inequality graph of the 1% versus the 99% from Piketty and Saez. I'm not sure if it went all the way back to the 1920s but really, that's sort of a very clear sign that these debates are expanding beyond academia and having a big effect on the public and their perception of the world we live in, the ideal policies that we should be pursuing. A big part of the U-curve narrative is to say look at how successful the policies in the 40s and 50s were at reducing inequality and of course if we do away with this U-curve then maybe those policies, all they did was bring more people into the data set. Geloso: Yes, and it changes who reports in the data set. I know Phil Magness, who is joining our team with me and John Moore and Bill Schlosser. Phil Magness has been working on showing that a lot of the changes in our tax regime actually just mimic the entire movement of the income share of the top 1%. It follows what share of taxes they're asked to pay and it leads to changes in reporting and basically it's a story of tax regimes and it changes the entire narrative. But what I find much more depressing---and this is a depressing fact---if just one of our criticisms lands and sticks, the U-curve doesn't look like a U. Let's say it looks like a J. So there's a mid-point in the 1920s and we've been increasing since then at a relatively high rate since the 1970s. So it fell from 1920 to 1970 and then it re-increased. If you look at what caused the leveling from 1920 to 1970, a lot of it has nothing to do with state intervention, with the efforts at redistribution. There's probably a sizable share of it that has to do with that. But there's also a sizable, and probably the larger share, that comes from poor regions catching up with rich regions. If you look at for example the history of inequality in the United States you would see that if you decompose the variance---so what caused the inequality---for most of American history a large share of inequality was caused by differences between states rather than differences between individuals. One way to see it, and I'm making a caricature here to get the point across, but you could have the same shape of distribution in income in Kansas and New York. But since the average in New York is much higher than in Kansas, you average the two in, you get a much higher level of inequality, so you can get like a Gini coefficient for the two of them of .4 but in each of them individually taken the level inequality is like .2. And this is what happens for most of US history. There are massive gaps between regions rather than gaps between skills, between levels, so Mississippi is poorer than New York for a long period of time. But in the 40s, 50s, 60s, 70s this gap basically volatilized, it began to disappear. One of the massive story of the twentieth century---some economists are aware---is this massiveness of convergence between regions. So the South gets richer. Poor black people move from poor states in the South where they're sharecroppers, they move to the North where they become wage earners in garment factories, in manufacturing and their earnings grow dramatically. So there's a massive convergence during that period. But, if you think about it for a second, it means that the gap between regions and the gap between races is actually a big driver in the leveling part of the U-curve, but that has nothing to do with tax redistribution. It has nothing to do with this. So, as soon as we integrate our criticism into the tax data, and we show that the U-curve looks less and less like a U, the left side of it makes it look less and less like a U. And you consider these two economic history facts that I've just mentioned, it's incredibly depressing to consider in the inequality narrative, to say well a lot of it is just stuff that would have happened anyways. There would have been a decline in inequality regardless of how much the state intervened to redistribute income because there was this convergence. And not only that, the leveling of inequality was not as great as we say it was. So it changes the entire story. We have inequality and how to address the issue and, not only that, I will point out that across the same period the one thing that goes up relatively steadily is government spending to GDP. If you were to account for all our criticism and then consider which part of inequality was reduced by government redistribution, it becomes more and more depressing because it seems like the effect is much smaller than people believe. This is where we're trying to disentangle all these elements to tell the correct story of inequality in the United States and it starts with getting the shape of inequality right. But look at the story I have just told you. As soon as we make this small change of properly assessing things, the entire narrative we have then changes. And this is why it's a dramatic fact to get right and which is why we're somewhat disappointed with Piketty's stuff because he's not making the right level of methodological discussion. Petersen: Right. Piketty uses his narrative to push for large-scale taxes and redistribution. Geloso: Yes. I'm not saying that what he does is bad. It was a massive improvement relative to what was there before. But his story has flaws, and these flaws tend to support his narrative. We point out the flaws that would support a different narrative, that point out that probably inequality is not as high as we say. It probably would have fallen up in the 1970s because of very natural forces and if you think about the fact that since the 1970s there's been a slight divergence---so, imagine the leveling of inequality between regions in the United States. The divergence fell until the 1970s, but it has increased modestly since then because of regulation on housing, things that limit mobility across states that the depress income growth in some areas. So you end up with a slight divergence since then and it is caused by states. It's not caused by anything that the government is doing. It's really an issue of very regionalized factors and each time you consider each of these nuances in, the narrative changes. And it changes dramatically against the story Piketty's telling and it shows that the flaws are biased in favor of the conclusion he supported. Petersen: Right. And I know Phil Magness has really criticized him on this, that he makes a lot of decisions where you could go one way or the other and they always seem to turn out his way. Which is maybe a coincidence, or maybe it's not really the best way to do social science. You point out that there were big price differentials between regions so how does that play into the regional inequality story? Geloso: So, we're basing our discussion on this part of a longer series of papers where each of the points we've discussed will basically be one paper in itself. Here we're just stating this entire case for skepticism, then we'll see how big the impact is. Regardless, even if they're all minor, they will all change the narrative. And prices, regional price differences are an issue in that. So, when you compare nominal income across a country you are getting an idea of inequality but---you will agree with me. So, you're in Vancouver. I'm originally from Montreal. If I give you a dollar income in Vancouver and I give myself a one-dollar income in Montreal you think that dollar will go as far in Vancouver as it does in Montreal? Petersen: I think it probably won't. Geloso: Exactly. So you would expect that regional price differences will affect the level of inequality. And there's actually a lot of people that do that. Each time you make controls for the level of price differences, you actually find that the level of inequality falls modestly. But it falls. But the thing is, the price differences that we have today between Vancouver to Montreal or between New York and the region of Mississippi are not at all what these gaps used to be in 1920 or in 1925. In 1925 the gaps would have been much, much, much larger and from 1925 to the 1940s there's been a convergence of prices across regions. So for the first 50 years, roughly, of the twentieth century you get a convergence of prices across regions. So if you just took nominal income without correcting for regional price differences, you would get a massive drop in inequality. However, if you were to correct for an increasingly smaller mistake because, if you think about it, if the wage gaps used to be on average 25% in 1890, let's say, and they used to be 5% in 1950, the error is decreasing over time. So you're getting the level off by a smaller and smaller quantity over time. So it means that the trend changes. The smaller your measurement error caused by regional price differences falls, the less pronounced the fall in inequality becomes. So you get a massive drop in inequality as measured by nominal income, which is not what it is when you correct the regional price differences, so you put this in real dollars adjusted for purchasing power parity. And not only that, the errors caused by regional prices actually also follow a U-curve. So the errors that would be caused by price level differences across regions declined up to 1950 but since then they've re-increased. So if before you're getting a lower and lower trend---a lower trend by a diminishing amount of error---that means the right side of the curve, that means the increasing disparity in prices across regions since 1950. It means that you're actually increasing nominal prices using nominal income across the country. You will underestimate the increase in inequality since then. So there are actually massive measurement errors caused by this issue of regional prices. When I say massive, I shouldn't say massive because it's dishonest but it affects both the level and the trends. So it affects the shape of the curve and remember we're making all these criticisms to the U-curve story piece by piece. Each one of them has a small prickly effect on the shape of the curve. As soon as one or more starts sticking---and they're all documented otherwise for other periods---not prior interwar period, not a sufficiently as we'd wish to, which is why we're doing this project of massive data collection. It changes the narrative, changes the story, changes the way the curve looks and it's not much of a U-curve anymore and the proper measurements get you a very different story of the evolution of inequality. And that different story forces you to change interpretations and solutions and the entire structure of the debate must change to reflect the higher level of precision that is required for that debate. Petersen: So. I'm trying to think of why these prices between regions might fall in the first half of the twentieth century and rise thereafter. I suppose a lot of it would be real estate, housing? Geloso: Exactly. So housing markets in the U.S. are more or less freer in the first half of the twentieth century than they are today. So most prices, if you can trade a good across borders it will arbitrage out price differences minus transport, right? So if goods are movable more or less as well, and you find it for food, for TVs, for durable goods, you tend to find that there's actually still convergence. But housing, you can't really move a house. There's actually movable houses but they're not a massive share of the market. So you'd expect less ability---and I'm saying this as a euphemism---but you'd expect less ability for arbitrage with housing. The only way you can do arbitrage for housing is by moving around. So I am in Mississippi and I see super high wages in New York. I move from Mississippi to New York. So in Mississippi there's one more housing unit available and in New York there's one less housing unit available. I've driven up housing prices in New York and I've got higher wages but housing is a little more expensive in New York and then it falls in the region where I left in terms of housing, so that real wages in that region converged. So there's a convergence in real wages by people moving around. The problem now is that, there is very, very, very little ability to move around in the United States because zoning restrictions actually make it harder for people to come and exploit the productivity of large cities like New York. So it prevents this convergence in real terms across regions. So a large part of the increase in inequality needs to be corrected for regional price differences, which is the argument about housing. And this is where it's probably that the soundest part of our argument is that the Rognlie papers that attack Piketty state that a large part of inequality was driven by rents towards housing, so the fact that income derives from housing is increasing importantly as a share of total income and has nothing to do with capital itself. It's really the artificial restrictions on housing. And this is largely the problem the inability of people to move to where wages are the most important. This changes the narrative. So that's why the story of regionally correcting price differences is crucial and it's rarely done over a long time series data set. But given the evolution of prices in the United States since 1900, it will affect the trend dramatically. It will affect the level, the shape, and this is not integrated in the argument. And this is why we're saying in this paper, each time you make a correction to get a higher level of precision, it's getting more and more plausible that the curve of inequality doesn't look like a U, it looks probably like an L, probably like a J, but not a U. So the early period of the twentieth century is not as high as people have claimed and there's probably been an increase since the 1970s. Not as much as some would claim, but the increase seems to have happened. The U-curve is probably just fictional. It is the result of poor controls or variations in equality of the taxes. Petersen: We've discussed the housing issue on other episodes of this podcast but it's sort of a one-two punch to inequality, where the people who, you know, maybe have bought a house in the San Francisco Bay area in the 1980s, have seen the value of that house skyrocket. And so of course that would contribute to the upper end of that wealth distribution. And the people who live in Mississippi and might like to move to the San Francisco Bay area and work for Google, can't afford to do it because of the extremely high price of rent there. So, that's reducing mobility and exacerbating these regional differences and also directly increasing the wealth of people who own homes who are, of course, already on the wealthier side. Geloso: Yes, in a static term, correcting for price differences across region. So if you were to take a picture of the economy right now and you make a picture of inequality based only on nominal incomes across the country---just using U.S. dollars---you'll get a higher level than if you correct for regional price differences. However, it's quite likely that if you were to make a movie of how inequality evolved, the housing restrictions---and this is a comment that's outside our paper and it's just something I think it's worth commenting on---if you make it so that it's impossible to move from low-income Mississippi to high-income California, you're going to make sure that inequality stays high and probably increases. If, let's say, there's a shock to international trade and Mississippi area tended to be manufacturing and people can't move from manufacturing to higher productivity jobs in San Francisco. So in dynamic terms, housing restrictions by preventing mobility prevent a strong equalizing source of income. So in static terms you get the level wrong, but in a dynamic term you're preventing the powerful force of mobility across the country---and this is something I like to point out---if you look for example, you bring someone from Italy to Canada in 1890, his income increased 300% as soon as he got to Canada. He was much richer the minute he set foot in Canada. You probably increased inequality in Canada---I don't know about if you decrease it or increase it in Italy---but when you move that guy away, you probably reduce global inequality. So by moving people to where the incomes are higher you level off inequality. In the United States it's the same narrative, you prevent this equalizing force from working through housing restrictions and making adjustments for---this is beyond the scope of our own research---but making adjustments for the increasing restrictiveness of housing that prevents mobility, you will probably get a large part of increasing inequality in the United States or even in England, which is also a situation like that, and in France, is not the result of terrible market forces responding to terrible government policies. Petersen: My guest today has been Vincent Geloso. Vincent thanks for being part of Economics Detective Radio. Geloso: It was a pleasure.
Last week, Bob examined how the United States has ended up in a situation that would have frustrated the Framer's intentions, had they seen it coming. The next president will likely hold more authority than was ever supposed to be granted to a single person, by virtue of nominating the ninth judge to a sharply divided “4-4” court. Ilya Shapiro is carefully observing the political chess game around the Supreme Court nomination, and urges Senate Republicans not to hold hearings or a confirmation vote for President Obama's nominee, Merrick Garland. Instead, he says they should wait until after a new president is elected – making the judicial pick the paramount issue in the coming election. Shapiro joins the show this Sunday to argue that “We, the People” should make the choice of who determines the make-up of the court, with so much on the line. Later, Bob will break down a new video from Learn Liberty featuring The Free Market Institute's Benjamin Powell on the surprising truth about sweatshops and child labor laws.
Dr. Murphy and I discuss a broad range of topics including the "liberty movement", how it has changed over time, what the prospects are for our ideas, the actual process by which the state might be dismantled, what liberty minded people should do to help that happen (and some of the challenges), and the confluence between theology and anarchism.
Robert P. Murphy is Research Assistant Professor with the Free Market Institute at Texas Tech University. In addition to The Primal Prescription, Murphy is the author of several economics books for the layperson, including Choice (Independent Institute 2015), The Politically Incorrect Guide to Capitalism (Regnery 2007), and the textbook Lessons for the Young Economist (Mises Institute 2010). He blogs at ConsultingByRPM.com. Everyone has a sense that the healthcare industry is a mess in the US. Obviously it’s a big story with a lot of moving parts, but how did we all get into this mess? You wrote this with the help of a medical doctor, and with your background I’d expect you focused more on the economics side of things, but what would be the prescription for us as individuals to give us a better chance at surviving the “sick care” sinkhole? What does “primal” mean? Based on the continued trajectory of the Affordable Care Act, where do you see the likely future of the healthcare industry heading? As a society, what are some steps we can take to start fixing healthcare, or is it a lost cause? Many futurists are excited about the advances in medical technologies, like DNA sequencing, robotic surgery, stem cells, home medical tricorders, etc. Is it possible that technology will bail us out of the holes our government has dug?
In this episode of the Lions of Liberty Podcast, host Marc Clair welcomes in Professor Benjamin Powell, head of the Free Market Institute at Texas Tech, and author of the new book “Out of Poverty: Sweatshops in the Global Economy.” Marc and Ben go over common criticisms of sweatshops in third world countries. Ben describes how sweatshops often offer a better viable alternative for many people to improve their lives, and how market forces – not government edicts – provide better working conditions over time. Check out our website: Lions of Liberty[...] Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of the Lions of Liberty Podcast, host Marc Clair welcomes in Professor Benjamin Powell, head of the Free Market Institute at Texas Tech, and author of the new book “Out of Poverty: Sweatshops in the Global Economy.” Marc and Ben go over common criticisms of sweatshops in third world countries. Ben describes how sweatshops often offer a better viable alternative for many people to improve their lives, and how market forces – not government edicts – provide better working conditions over time. Check out our website: Lions of Liberty[...]
Dr. Benjamin Powell, Director of the Free Market Institute at Texas Tech, asks "What's the real deal in Somalia?"
The Free Market Institute is among the newest additions to Texas Tech; Texas Tech is gaining acclaim as a high-value education destination; TTU is extending its global reach; and AcademiCast congratulates the faculty and students who were recognized at this year's Faculty Honors Convocation. Also, we spotlight Student of Integrated Scholarship Angela Bourne.
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