Podcasts about Ludwig von Mises

Der Titel der heutigen Episode ist: Friedrich Hayek und die Beschränktheit der menschlichen Vernunft.  Ich bin erst vor relativ kurzer Zeit in einem konkreteren Sinne auf Hayek aufmerksam geworden. Was mich sofort fasziniert hat – auch bei seinen frühen Schriften – ist sein ungeheures analytisches Talent, die interdisziplinäre Vorgehensweise und die Fähigkeit des systemischen Denkens. Sehr früh beschreibt und analysiert er komplexe Sachverhalte in einer Weise, wie sie heute, 50–100 Jahre später, immer noch hochgradig zeitgemäß und relevant ist. Insofern hat mich also zunächst der systemische, dann der politische und zuletzt der ökonomische Denker inspiriert.   In dieser Episode wird es daher um wesentliche Aspekte Hayeks Denken gehen. Aspekte, die für die heutige Zeit von enormer Bedeutung sind: Wo steckt Wissen in einer Gesellschaft? Wie können wir mit komplexen Entscheidungen, die in differenzierten Gesellschaften (oder Organisationen) notwendig sind, umgehen, wenn zentrale Planung scheitert? Was bedeuten Freiheit und Sozialstaat in einer Zeit, in der beides in westlichen Nationen vor dem Scheitern steht?   Es freut mich ganz besonders, dass ich für diese Episode Nickolas Emrich begrüßen darf.   Nickolas Emrich ist stellvertretender Vorsitzender der deutschen Hayek-Gesellschaft mit einem vielseitigen Lebensweg. Er ist Jurist, Bestsellerautor, Ex-Polizist und Unternehmer. Bei Radio Teddy moderierte er eine Sendung über Computerspiele für Kinder. Außerdem hat er bereits acht Bücher veröffentlicht. Sein aktuelles Werk „Gier nach Privilegien“ hat es sogar auf die Spiegel-Bestsellerliste geschafft.   Wir beginnen das Gespräch mit der Frage: Was ist die Hayek-Gesellschaft?   »Für Freiheit und Eigenverantwortung, vor allem auch für wirtschaftliche Eigenverantwortung, treten wir ein.«   Wie kann es sein, dass so vieles, was Hayek vor ca. 70 Jahren geschrieben hat, sich heute noch so zeitgemäß liest?   »Der Zustand der Welt ist fast nicht erklärbar, wo doch dieses Wissen vorliegt.«   »Das Faszinierende an ihm ist das Übergreifende.«   Was hat es mit der Freiheit auf sich? Welche Rolle spielt sie für Hayek, und wie verändert sich unser Verständnis davon über die Zeit? Was ist die österreichische Schule der Ökonomie? Welchen Einfluss hatte Ludwig von Mises?   Hayek, aber auch andere wesentliche Gelehrte der Zeit, z. B. Karl Popper, hatten eine große Breite im Denken, was bei vielen Intellektuellen der heutigen Zeit leider verloren gegangen ist. Ist Hayek folglich vielleicht sogar in seiner Rolle als Systemdenker wesentlicher als in seiner Rolle als Ökonom? Das Übertragen von Erkenntnissen und Einsichten aus einer Disziplin in eine andere erweist sich in vielen Fällen als sehr fruchtbar.   Seine Skepsis gegenüber großen Utopien eint ihn mit Zeitgenossen wie Karl Popper.   Wo sieht er das Wissen und die Rolle des Einzelnen, des Individuums, beziehungsweise der Summe der Individuen im Vergleich zu Experten?   »Unlike the position that exists in the physical sciences, in economics and other disciplines that deal with essentially complex phenomena, the aspects of the events to be accounted for about which we can get quantitative data are necessarily limited and may not include the important ones«, Zitat aus der Nobelpreis-Rede von Hayek.   Wir diskutieren dann die Frage, wie es mit gelenkten Prozessen im Gegensatz zu verteilt-entschiedenen Prozessen aussieht.   »Aus einem gelenkten Prozess kann nichts Größeres entstehen, als der lenkende Geist voraussehen kann.«   Das regelnde System ist ein Modell des Systems, das es zu regeln versucht – dies haben auch die Kybernetiker der 1960er Jahre erkannt.   Wo steckt eigentlich das Wissen der Welt? In der Wissenschaft? Oder ist dies vielleicht nur ein kleiner Teil des Wissens, das für unsere Welt von so entscheidender Bedeutung ist?   »Es ist viel einfacher, Macht als Wissen zu aggregieren«, Thomas Sowell.   Was versteht dann Hayek unter dem Markt? Wie passt das in diese systemische Betrachtung der Welt? Sind Märkte gar etwas »Natürliches«?   Aber überschätzen wir möglicherweise die Rolle von Regierungen ohnehin? Jedenfalls in einem positiven Sinne? »The role played by governments is greatly exaggerated in historical accounts because we necessarily know so much more about what organized government did than about what the spontaneous coordination of individual efforts accomplished.«   Was ist nun die Rolle von Märkten und vor allem auch von Preisen? Preise sind, und das wird sehr häufig in der öffentlichen Diskussion übersehen, ein Kommunikationsmittel, das wesentliche Informationen vermittelt. Was bedeutet dies konkret?   Können Märkte eine emanzipierende Funktion haben? Sind sie demokratisch? Ist die Demokratie hingegen die »Belohnung unlauterer Sonderinteressen«?   Was sollen wir aber in realpolitischen Situationen machen, wo sich bestimmte (staatliche) Akteure nicht korrekt verhalten und Wirtschaft als Machtmittel einsetzen?   »Wir sind noch an einem Punkt, wo der Wohlstand ausreicht, um diese Wucherungen (der überbordenden Regulierungen) zu ertragen, aber wo die Last zunehmend schwerer wird.«   Jede planerische Top-down-Intervention hat Seiteneffekte, Seiteneffekte, die oftmals das Gegenteil des Erwünschten erreichen. Der Planer begibt sich auch immer in die Rolle einer Person, die behauptet, besser zu wissen als alle anderen, wie diese zu leben haben. Aber es gibt auch die andere Seite:   »Dieser Wunsch nach Autorität ist leider vorhanden.«   Haben wir die Perspektive verloren? So liest man heute von »Soziologen« etwa solche Aussagen:   »Wir sprechen von Familienunternehmern – woanders nennt man sie Oligarchen«, Martyna Linartas.   Wer hat aber in den vergangenen Jahrzehnten den Wohlstand in Deutschland geschaffen?   »Man lernt ja früh, wie ein geplantes System funktioniert – nämlich die Schule.« Was wir weniger lernen, ist, was es bedeutet, in komplexen Systemen, also etwa in der Wirtschaft, zu agieren.   Und damit sind wir wieder bei einer fundamentalen systemischen Frage: Wie verteilen wir Risiko in einer Gesellschaft? Was ist dabei die Rolle des Sozialstaates? Was passiert, wenn die Mehrheit der Menschen in einer Gesellschaft immer weniger Risiko selbst trägt, sondern dieses de facto delegiert? Entsteht damit in Wahrheit nicht nur eine Scheinsicherheit und ein systemisch viel größeres Risiko?   Was hat es mit dem Survivorship Bias zu tun? Warum sollte man sich darüber bewusst sein, bevor man Unternehmer wie Bezos oder Musk beurteilt?   »Man guckt viel zu wenig auf Ergebnisse – darum ist man jetzt auch so schockiert, was in Argentinien passiert. Man versucht, sich auf Ideen zu versteifen und in der Theorie Schlachten zu schlagen, aber das Entscheidende ist ja, ob Dinge funktionieren.«   Verändert sich die Perspektive, wenn man längere Zeiträume des Erfolgs von Unternehmen betrachtet? Wer heute top ist, ist morgen wahrscheinlich nicht mehr relevant – jedenfalls in einer funktionierenden Marktwirtschaft. Kann man Märkte mit Naturgesetzen vergleichen, oder ist das zu weit hergeholt? Als Beispiel nenne ich die führende Reporterkamera Graflex (deren Name mir im Gespräch nicht eingefallen ist).   Das Sterben von Unternehmen ist Teil einer gesunden Wirtschaft. Aber wie ist es zu interpretieren, wenn der Staat mit dem Geld aller Bürger Unternehmen vor dem Konkurs rettet – oft aus vermeintlich guten Gründen?   Was ist der Zusammenhang zwischen dem Wikipedia-Projekt und Hayek?   Zum Abschluss: Was sollte nun der Staat eigentlich leisten, und wie können wir dort wieder hinkommen? Um das Zitat von Nils Hesse aus der früheren Episode aufzugreifen: Brauchen wir einen ordoliberalen Unkrautstecher oder eher die Mileische Kettensäge?   Welche Freiheitsbegriffe spielen dabei eine Rolle?   »Das Recht des einen ist immer die Pflicht des Anderen.«   Grundrechte galten in der Vergangenheit in der Regel als Abwehrrechte gegen den Staat; Verfassungen dienen dazu, die Rechte des Staates zu begrenzen – wo stehen wir hier in der heutigen Interpretation? Ist der Sozialstaat eher ein Asozialstaat?   Hayek hat unzählige Bücher und Artikel verfasst, aber eine Kernaussage könnte man herauskristallisieren: Das Wissen um die Beschränktheit der menschlichen Vernunft. Jedes gesellschaftliche System muss eine Antwort auf diese Herausforderung haben.   »Die verhängnisvolle Anmaßung ist eben die Anmaßung, mehr zu wissen als die Summe aller anderen.«   Müssen wir in vielen europäischen Staaten erst so absteigen und über Jahrzehnte leiden wie die Argentinier, bis wirkungsvolle Reformen denkbar werden, oder schaffen wir es vorher umzusteuern? »Solange das Problem nicht verstanden wird, wird es weiter bergab gehen.«   Mein neues Buch auf Amazon: Hexenmeister oder Zauberlehrling?: Die Wissensgesellschaft in der Krise Referenzen Andere Episoden Episode 131: Wot Se Fack, Deutschland? Ein Gespräch mit Vince Ebert Episode 130: Populismus und (Ordo)liberalismus, ein Gespräch mit Nils Hesse Episode 129: Rules, A Conversation with Prof. Lorraine Daston Episode 128: Aufbruch in die Moderne — Der Mann, der die Welt erfindet! Episode 125: Ist Fortschritt möglich? Ideen als Widergänger über Generationen Episode 117: Der humpelnde Staat, ein Gespräch mit Prof. Christoph Kletzer Episode 114: Liberty in Our Lifetime 2: Conversations with Lauren Razavi, Grant Romundt and Peter Young Episode 113: Liberty in Our Lifetime 1: Conversations with Massimo Mazzone, Vera Kichanova and Tatiana Butanka Episode 109: Was ist Komplexität? Ein Gespräch mit Dr. Marco Wehr Episode 108: Freie Privatstädte Teil 2, ein Gespräch mit Titus Gebel Episode 107: How to Organise Complex Societies? A Conversation with Johan Norberg Episode 89: The Myth of Left and Right, a Conversation with Prof. Hyrum Lewis Episode 80: Wissen, Expertise und Prognose, eine Reflexion Nickolas Emrich Nickolas Emrich in der Hayek Gesellschaft LinkedIn Nickolas Emrich, Gier nach Privilegien, Finanzbuch Verlag (2024) Fachliche Referenzen Drei ausgewählte Bücher von Friedrich Hayek: Friedrich Hayek, Nobelpreisrede, The Pretence of Knowledge (1974) Friedrich Hayek, Der Weg zur Knechtschaft (1944) Friedrich Hayek, The Fatal Conceit: The Errors of Socialsm (1988) Friedrich Hayek, The Use of Knowledge in Society, The American Economic Review, Vol. 35, No. 4. (Sep., 1945) Martyna Linartas, »Wir sprechen von Familienunternehmern – woanders nennt man sie Oligarchen«, Tagesspiegel (2025) Graflex Camera

Mark Thornton returns as a guest on the Liberty and Finance podcast with Dunagun Kaiser to walk through Ludwig von Mises's three stages of inflation, and why today's mix of towering deficits and money printing puts the US on the on-ramp to hyperinflation. Mark also connects sanctions and tariffs to global de-dollarization, explains why central banks are swapping Treasuries for gold, and breaks down his gold-to-silver trade. The conversation ranges from “black swans” to state-level sound-money moves, and closes with practical steps.Additional ResourcesVisit Liberty and Finance at https://libertyandfinance.com"Black Swans, Sequestered Capital, and the Next Bust” (Minor Issues): https://mises.org/MI_137Donate $5 today to support the Mises Institute's Fall Campaign and receive a physical copy of Hayek for the 21st Century: https://mises.org/mi25A special bonus offer for Minor Issues listeners: donate to the Mises Institute's Fall Campaign and receive a signed copy of Free Trade in the 21st Century: https://mises.org/mi25Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Kinsella on Liberty Podcast: Episode 473. https://youtu.be/soyywXASOh4?si=pHKdf6awiCXOqXGV From The White Pillbox, Stephan Kinsella's Universal Principles of Liberty. This is my discussion with Mark Maresca, of The White Pillbox, about The Universal Principles of Liberty. (Previous episode: Kinsella as “White Pill”: Maresca, “From the White-PillBox: Part 29. Achilles Heel edition 3”.) Mark's shownotes: Recently Stephan published an exciting document, the Universal Principles of Liberty: https://stephankinsella.com/principles/ Stephan provides some background that led to the Principles, historical context, use cases, and so much more. As always, Stephan demonstrates why he is a true human White Pill. He even challenged me to White Pill him, on my reasoning behind why true free societies may be coming sooner than we think. Some of his key publications: International Investment, Political Risk, and Dispute Resolution (Oxford, 2020): http://www.kinsellalaw.com/iipr/ Against Intellectual Property (Mises Institute, 2001): http://c4sif.org/aip/ Legal Foundations of a Free Society (Papinian Press, 2023): https://stephankinsella.com/lffs/ Links to other topics we covered in this episode... The Law, by Frederic Bastiat: https://store.mises.org/The-Law-P408.... For a New Liberty, by Murray N. Rothbard: https://store.mises.org/For-a-New-Lib... Human Action, by Ludwig von Mises: https://store.mises.org/Human-Action-... The Remnant, from Isaiah's Job, by Albert J. Nock: https://mises.org/mises-daily/isaiahs... The Property and Freedom Society: https://propertyandfreedom.org/ Grok shownotes and transcript below. Grok Shownotes Overview of the Discussion The episode of the White Pillbox features host Mark Maresca interviewing Stephan Kinsella, a prominent intellectual property attorney and libertarian writer from Houston. Recorded on September 06, 2025, the conversation delves into Kinsella's latest work, the "Universal Principles of Liberty," a document aimed at articulating a coherent framework for libertarian principles. This discussion provides listeners with an insightful exploration of libertarian thought, emphasizing practical applications and philosophical underpinnings in the context of transitioning to a freer society. Background on Universal Principles of Liberty Kinsella explains the genesis of the "Universal Principles of Liberty," highlighting his involvement in various libertarian projects, including attempts to draft constitutions for new nations like Liberland. He critiques the traditional concept of constitutions as state-authorizing documents, advocating instead for a statement of principles that avoids legitimizing governmental authority. The project evolved from his earlier work, such as the "Fundamental Principles of Justice," and was collaboratively refined with contributions from attorneys Pat Tinsley, Aleandro Fusillo, David Durr, and oversight from Hans-Hermann Hoppe, reflecting a broad consensus on core libertarian values. Core Libertarian Principles The core of the "Universal Principles of Liberty" rests on four key principles: self-ownership, original appropriation (homesteading), contract, and rectification. Kinsella argues these principles, derived from Roman and English common law, offer a decentralized, organic approach to law that contrasts with statutory legislation. He emphasizes that libertarianism, as a consistent application of these private law principles, rejects state-imposed exceptions like taxation or sovereign immunity, providing a foundation for a free society that can adapt through judicial interpretation rather than legislative fiat. Practical Applications and Flexibility Kinsella discusses the document's practical use as a "guard rail" for free territories or communities, such as Liberland or Prospera in Honduras, where it could guide development and judicial decisions without mandating a top-down structure. The principles are designed to be flexible,

In Folge 11 des Dachcouchquartetts sprechen André F. Lichtschlag, Michael Werner, Christian Schneider und Martin Moczarski über US-Politik und Helden, die vielleicht gar keine sind.Christian Schneider (alle Links): https://linktr.ee/AethervoxEhrenfeldDer Rosarote Panzer: https://www.youtube.com/watch?v=EsNslnTidDQMeldestelle für Meinungsfreiheitsdelikte: sammelstelle@stolzmedia.deMichael Werner bei Aethervox Ehrenfeld: https://www.youtube.com/watch?v=IhNoHrOEXkMMichael Werner auf X: https://x.com/DStahlfederMichael Werner bei Freiheitsfunken: https://freiheitsfunken.info/autor/michael-werner/Michael Werner: Meinungsfreiheit: Wissen, was geht!: https://youtu.be/pAeT-aQcAucDirk Hesse auf X: https://x.com/LibertarianDirkPartei der Vernunft: https://parteidervernunft.deMöchten Sie unsere Arbeit unterstützen?––––––––––––––––––––––––––––––––––––––––––––––––Spenden Sie Werkzeuge für die libertäre GlücksschmiedePayPal (auch Kreditkarte) / Überweisung / Bitcoin / Monero:

This Flashback Friday is from episode 402, published last August 20, 2014. Lew Rockwell is an American libertarian author and editor, self-professed anarcho-capitalist, a promoter of the Austrian School of economics, and founder and chairman of the Ludwig von Mises Institute. His website LewRockwell.com was founded in 1999 and features articles and blog entries from a number of columnists and writers. His motto is "anti-war, anti-state, pro-market".  Visit Lew's website at LewRockwell.com The Ludwig von Mises Institute at Mises.org   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com  

https://a16z.com/the-techno-optimist-manifesto/ " Techno-optimism is the belief that rapid technological progress is the main driver of human prosperity and should be pursued as a moral imperative. It argues that: Growth = Good: Innovation creates abundance, longer lives, and better living standards. Barriers = Bad: Regulation, caution, and pessimism slow down progress and should be resisted. Technology as Solution: Challenges like poverty, disease, and climate change are best solved by accelerating science and technology rather than restricting them. In short: Techno-optimism sees faster innovation as the surest path to human flourishing — and treats resistance to technological progress as harmful. " Here's a structured overview of the major schools of economic thought, mapped across time, followed by an estimate of which views dominate public and policy thinking today.

“The origin was really trying to make sense of that 2016-2017 moment and to ask whether the alt-right was, as we were being told, a return to the 1930s, a kind of awakening of the sleeping beast of white supremacy armed in the streets in the United States. There are many explanations, but I decided to take this kind of curious route in with the distorted readings and reinterpretations of the works of people like Ludwig von Mises and Friedrich Hayek. As a scholar of comparative literature, I wanted to write a revision based on Crack-Up Capitalism.”In this episode of the Speaking Out of Place podcast, Professor David Palumbo-Liu talks with Quinn Slobodian about his new book, Hayek's Bastards: Race, Gold, IQ, and the Capitalism of the Far Right. He takes a deep dive into the genesis of a weird and powerful merging of two seemingly different groups the Far Right and neoliberals. Slobodian writes, “as repellent as their politics may be these radical thinkers are not barbarians the gates of neoliberalism but the bastard offspring of that line of thought itself.” They talk about how this meshing is driven by a primitive desire to ward off egalitarianism, difference, democracy, and government that services the common good. The wide-ranging talk ends with addressing DOGE, Trump's tariffs, and yes, the Jeffrey Epstein case.Quinn Slobodian is a professor of international history at the Frederick S. Pardee School of Global Studies at Boston University. His books, which have been translated into ten languages, include Globalists: The End of Empire and the Birth of Neoliberalism, Crack-Up Capitalism: Market Radicals and the Dream of a World without Democracy, and Hayek's Bastards: Race, Gold, IQ and the Capitalism of the Far Right . A Guggenheim Fellow for 2025-6, he has been an associate fellow at Chatham House and held residential fellowships at Harvard University and Free University Berlin. Project Syndicate put him on a list of 30 Forward Thinkers and Prospect UK named him one of the World's 25 Top Thinkers.https://speakingoutofplace.comBluesky @palumboliu.bsky.socialInstagram @speaking_out_of_place

Kinsella on Liberty Podcast: Episode 470. From my appearance on the Ayn Rand Fan Club with Scott Schiff and William. Their Shownotes: Patent attorney, Libertarian & Ayn Rand fan Stephan Kinsella joins William & Scott to talk about his history in the liberty world and his unique view that property rights should only pertain to physical things, and not to intellectual property. They also talk about Elon Musk opening his patents and the effects of IP law on AI. https://youtu.be/ax-QhyTGxw0?si=MyuQF4TfdeJQpQND Related: Classical Liberals, Libertarians, Anarchists and Others on Intellectual Property “The Death Throes of Pro-IP Libertarianism” (Mises Daily 2010) Yet another Randian recants on IP An Objectivist Recants on IP Pro-IP “Anarchists” and anti-IP Patent Attorneys Patent Lawyers Who Oppose Patent Law “The Four Historical Phases of IP Abolitionism” “The Origins of Libertarian IP Abolitionism” The Problem with Intellectual Property A Selection of my Best Articles and Speeches on IP Grok shownotes: Episode Overview In this episode of the Ayn Rand Fan Club, hosts Scott Schiff and William Swig engage in a thought-provoking discussion with Stephan Kinsella, a retired patent attorney, author, and libertarian thinker with a deep background in Ayn Rand's Objectivism. The conversation delves into Kinsella's journey from Objectivism to anarcho-capitalism, his critical stance on intellectual property (IP), and his broader views on libertarian principles. Recorded on August 18, 2025, the episode explores the philosophical and practical implications of IP laws, their impact on innovation, and their compatibility with property rights, while also touching on contemporary libertarian movements. Stephan Kinsella's Background and Philosophical Evolution Kinsella shares his personal journey, starting with his introduction to Ayn Rand's The Fountainhead in high school, which sparked his interest in Objectivism. Initially a “hardcore Objectivist” for eight years, he later gravitated toward Austrian economics and anarcho-capitalism, influenced by thinkers like Ludwig von Mises and Murray Rothbard. As a patent attorney in Houston, Texas, Kinsella began questioning the validity of IP laws in the early 1990s, finding existing justifications—whether utilitarian or Objectivist—unsatisfactory. His career as a patent lawyer, paradoxically, coincided with his growing opposition to the patent and copyright system, which he argues violates fundamental property rights. Critique of Intellectual Property Kinsella's primary critique of IP centers on its violation of tangible property rights. He argues that patents and copyrights impose non-consensual restrictions, or “negative servitudes,” on how individuals can use their own property, such as a printing press or factory. Drawing from libertarian principles, he contends that property rights should stem from homesteading or contract, not state-granted monopolies. Kinsella rejects both utilitarian arguments (e.g., IP promotes innovation) and natural rights arguments (e.g., creators inherently own their ideas), asserting that there's no empirical evidence for underproduction of creative works without IP and that the concept of owning labor or ideas is flawed, rooted in a misinterpretation of John Locke's labor theory. Trademark, Defamation, and Reputation Rights The discussion extends to trademark and defamation laws, which Kinsella also opposes. He explains that trademark law, originally intended to prevent consumer fraud, has evolved into a “reputation right” that protects brands like Rolex or Chanel from dilution, even absent deception. He argues that fraud laws already suffice to address deceptive practices, rendering trademark law unnecessary. Similarly, Kinsella rejects defamation laws, asserting there's no property right in one's reputation, as it's merely others' opinions. He distinguishes incitement to violence as a separate issue,

Having warned of the rise of national socialism and having fled the German army's march into Austria, Ludwig von Mises was in an excellent position to analyze Nazi economic doctrine.Original article: https://mises.org/mises-daily/etatism-protectionism-and-demand-lebensraum

Having warned of the rise of national socialism and having fled the German army's march into Austria, Ludwig von Mises was in an excellent position to analyze Nazi economic doctrine.Original article: https://mises.org/mises-daily/etatism-protectionism-and-demand-lebensraum

https://youtu.be/uVSz93KXms4 El socialismo no ha muerto, sino que ha evolucionado su discurso para adaptarse a nuestros tiempos. Ya no se presenta con los términos clásicos de "dictadura del proletariado" o "lucha de clases", sino que se ha renovado bajo conceptos aparentemente benignos como "equidad", "inclusión" y "justicia social". Sin embargo, como advirtieron pensadores como Ludwig von Mises y Friedrich Hayek, su objetivo fundamental permanece intacto: sustituir la libertad individual por el control colectivo.Esta transformación no es solo cosmética, sino estratégica. El socialismo contemporáneo ha desplazado su campo de batalla de la economía hacia la cultura, redefiniendo conceptos morales fundamentales y torciendo el lenguaje para emborronar los límites entre lo justo y lo injusto. Al exigir "justicia social", lo que realmente se está pidiendo es que el Estado corrija las decisiones libres de los individuos, limitando así su libertad.El nuevo socialismo opera negando la validez universal de la lógica y fragmentando la sociedad en grupos identitarios. Lo que antes se dividía en clases sociales, ahora se segmenta por raza, género u orientación sexual, trasladando la lucha de clases hacia nuevas categorías. Bajo esta perspectiva, no importa la argumentación o la verdad, sino la fidelidad al dogma colectivista.Como señaló Murray Rothbard, los socialistas han ganado terreno porque piensan estratégicamente y a largo plazo. Mientras las fuerzas del libre mercado se enfocan en la producción económica, la izquierda ha infiltrado sistemáticamente la cultura, la educación y el lenguaje, redefiniendo los valores morales de la sociedad.La única forma efectiva de combatir este fenómeno no es cediendo terreno o negociando con sus premisas, sino desenmascarando su verdadera raíz moral: el autoritarismo. El socialismo, más allá de ser un modelo económico fallido, representa una sociedad basada en la sumisión, el miedo y la obediencia. Frente a esto, debemos defender una visión clara de una sociedad libre, donde nadie imponga cómo pensar, qué decir o qué elegir.La batalla cultural actual no se trata solo de criticar el colectivismo en todas sus formas, sino de promover activamente un modelo superior: una sociedad fundamentada en la libertad individual, la propiedad privada y la responsabilidad personal.****

LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featured  In this episode, we examine the quiet shift from true capitalism—where consumers and competition decide winners—to statism, where government dictates the rules of business. From tariffs and regulations to crony systems that favor the big players, we explore how this transformation threatens small business owners and innovation. With insights from Ludwig von Mises to modern market realities, it's a sobering look at capitalism's whimpering retreat.

En 1926, Ludwig von Mises rechazó liderar una reforma económica que pudo cambiar la historia de Austria. Tenía razón en sus advertencias… pero su inacción tuvo un precio altísimo para miles de familias.En los mercados pasa igual:No invertir por miedo… es invertir en quedarte donde estás.No aprender sobre inteligencia artificial… es aprender a volverte obsoleto.No actualizar tu estrategia… es regalarle tu ventaja a otros.Dale play y hablemos de por qué quedarte quieto también es una decisión de inversión… y casi nunca es la más rentable.

On Thursday's Mark Levin Show, Chicago's Mayor Brandon Johnson warns of a "point of no return" for city finances amid a $1.1 billion 2026 deficit, pushing for tax hikes like a millionaire tax, corporate head tax and wants progressive revenue options. In On Power, it explains that the progressive movement aims to fundamentally transform America and Western democracies by centralizing government power, diminishing individual freedoms, and reengineering society through soft negative power. Johnson's progressive tax hikes reflects a drive to expand centralized governmental authority, which will erode economic freedoms and individual autonomy in pursuit of societal reengineering. This is what NYC can look forward to if Zohran Mamdani gets elected. Mandami repeatedly trashes America, failed to assimilate, and acting as a revolutionary against the country since his teenage arrival.  His Marxist, Islamist, and Jew-hating ideologies echo terrorist lines. Also, On Power describes authoritarian democracy as a gradual slide from democracy into authoritarianism, where power centralizes—often in unelected branches like the judiciary or administrative state, or through excessive executive/legislative dominance—marginalizing citizens. It employs authoritarian tactics softly at first, justifying tyrannical laws or flawed processes simply because they follow legal forms, prioritizing legality over justice or morality. This has permeated Western society, embedding ideas like Marxism unconsciously, as noted by Ludwig von Mises.  Later, federalizing Washington D.C. is constitutionally allowed and necessary because local rule has failed amid out-of-control crime like murders and carjackings. D.C. is an overwhelmingly Democrat one-party city that doesn't protect people, despite being the nation's capital where elected officials, staff, judges, and bureaucrats must work. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Human reason, wrote Ludwig von Mises, is the basis for civilization itself. Western civilization, he said, was built upon economic progress that sprang from reason. However, he also warned that if the West abandoned sound economics, it would trigger its demise.Original article: https://mises.org/mises-wire/human-reason-foundation-civilization

Human reason, wrote Ludwig von Mises, is the basis for civilization itself. Western civilization, he said, was built upon economic progress that sprang from reason. However, he also warned that if the West abandoned sound economics, it would trigger its demise.Original article: https://mises.org/mises-wire/human-reason-foundation-civilization

Lucas Engelhardt explores the economics of interventionism, tracing Ludwig von Mises's core argument that state interference in markets is both self-defeating and inherently unstable. Building on insights from Rothbard, Ikeda, and Higgs, Engelhardt examines why interventionism persists despite its failures, and whether we are, in fact, on the road to socialism or stuck in a stable middle ground.Recorded at the Mises Institute in Auburn, Alabama, on July 25, 2025.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

"The word praxeology can be used in two different ways. One is for a science of human action, as developed by Ludwig von Mises and his successors, principally Murray Rothbard. And the other is for the deductive method used in the science of human action."Recorded at the Mises Institute in Auburn, Alabama, on July 21, 2025.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

Lyn Ulbricht : Mother Of Ross Ulbricht "Silk Road" FreeRoss.orgUlbricht grew up in the Austin metropolitan area. He served as a Boy Scout,[5] attaining the rank of Eagle Scout.[6] He attended West Ridge Middle School,[7] and Westlake High School, Austin, Texas. He graduated from high school in 2002.[8]He attended the University of Texas at Dallas on a full academic scholarship,[6] and graduated in 2006 with a bachelor's degree in physics.[8] He then attended Pennsylvania State University, where he was in a master's degree program in materials science and engineering and studied crystallography. By the time Ulbricht graduated he had lost interest in his major and was interested in libertarian economic theory. In particular, Ulbricht adhered to the political philosophy of Ludwig von Mises and supported Ron Paul, and participated in college debates to discuss his economic views.[7][9]Ulbricht graduated from Penn State in 2009 and returned to Austin. By this time Ulbricht, finding regular employment unsatisfying, wanted to become an entrepreneur, but his first attempts to start his own business failed. He eventually partnered with a friend to help build an online used book seller, Good Wagon Books. His limited business success, combined with a breakup with his on-and-off girlfriend from Penn State, left Ulbricht deeply dissatisfied with his life.[7][10]Become a supporter of this podcast: https://www.spreaker.com/podcast/the-opperman-report--1198501/support.

On this episode of Minor Issues, Mark Thornton unpacks the unfolding economic crisis through the lens of Ludwig von Mises's “crack-up boom.” With inflation accelerating, deficits ballooning, and the Fed's credibility fading, Mark outlines how reckless monetary policy and unsustainable government spending are setting the stage for stagflation—or worse. From gold's surge to the dollar's decline, he connects today's market signals to Mises's dire warnings about monetary collapse, offering a sobering look at what may lie ahead for the US economy.Additional Resources"Trump (Again) Demands More Easy Money To Help Fund Even Bigger Deficits" by Ryan McMaken: https://mises.org/MI_125_A"Interest Rates Rise Again as Treasury Auction Comes Up Short" by Ryan McMaken: https://mises.org/MI_125_B"Powell, Trump, and the Austrian Business Cycle Time Bomb" (Minor Issues, Ep. 118): https://mises.org/MI_118 "Prospects for Hyperinflation" (Minor Issues, Ep. 116): https://mises.org/MI_116"Are Economic Crises and Crashes Inevitable?" (Minor Issues, Ep. 112): https://mises.org/MI_112"The Precarious State of the American Economy" (Minor Issues, Ep. 111, with Scott Horton): https://mises.org/MI_111How Inflation Destroys Civilization by Guido Hülsmann: https://mises.org/InflationDestroysLudwig von Mises on Money and Inflation, edited by Bettina Bien Greaves: https://mises.org/MI_125_CThe Inflation Crisis and How to Resolve It by Henry Hazlitt: https://mises.org/MI_125_DRegister for the 2025 Mises Institute Supporters Summit in Delray Beach, Florida, October 16–18: https://mises.org/ss25

In this podcast we will be talking about 9 Life Lessons From Ayn Rand. Ayn Rand  was a Russian-American writer and philosopher who lived in the twentieth century and is credited as a founder of philosophy of Objectivism.  So with that in mind, here are 9 important lessons that we can learn from Ayn Rand -  01. Use reason in everything 02. Be selfish  03. Follow your own values  04. Don't play the victim  05. Develop your self-esteem 06. Be honest 07. Earn your money honourably 08. Never give up 09. Always Keep growing I hope you enjoyed watching the video and hope these 9 Life Lessons From Ayn Rand will add value to your life.  Ayn Rand  was a Russian-American writer and philosopher who lived in the twentieth century. Born in Russia, she moved to America when she was in her 20's; there she wrote several novels, some of the most famous being: The Fountainhead and Atlas Shrugged. Towards the end of her life, she focused more on philosophy, founding the philosophy of Objectivism, the four main principles of which are: Objective reality, which is the reality that exists independently of consciousness, Absolute reason, which means that the guidance of facts far outweighs the guidance of faith or emotion, Individualism, which means the proper moral purpose of one's life is the pursuit of one's own happiness, and Laissez-faire capitalism, which is a system based on protecting human rights and property rights. Her main philosophical view is that knowledge can be acquired only through the process of reasoning and she rejected religion and faith. She attacked many past philosophers, with the exception of a few, like Aristotle and Thomas Acquinas. She was inspired by Nietzsche and John Locke and she was against Immanuel Kant, whom she named “the most evil man in mankind's history” because she thought his ethics opposed the self-interests of human beings. During her life, she was involved in many political movements and made connections with journalists, economists, including the economist Ludwig von Mises, who referred to her as "the most courageous man in America", a compliment that pleased her because he said "man" instead of "woman", implying that she was more courageous, had more guts than any man. Through the Objectivism movement, her work became known more and more to the public.

After the collapse of the Soviet Union, neoliberalism, with its belief in the virtues of markets and competition, seemed to have triumphed. But in the decades that followed, neoliberalism had a problem: the rise of social movements, from civil rights and feminism to environmentalism, were now proving roadblocks in the road to freedom, nurturing a culture of government dependency, public spending, political correctness and special pleading.  Neoliberals needed an antidote. They found it in nature. Historian Quinn Slobodian explains how neoliberal thinkers drew on the language of science to embed the idea of ‘competition' ever deeper into social life, to reinstate a hierarchy of gender, race and cultural difference, and to advocate cultural homogeneity as essential for markets to truly work. Reading and misreading the writings of their sages, Friedrich Hayek and Ludwig von Mises, they forged alliances with racial psychologists, neoconfederates, ethnonationalists that would become known as the alt-right. Insightful, provocative and expertly-researched, this conversation provides a timely and essential understanding of modern geopolitics. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The free market replaces the struggle for survival found in the animal world with social cooperation in which everybody benefits. Capitalism is a system of peace, not war.Original article: https://mises.org/mises-wire/ludwig-von-mises-peace-and-social-cooperation

The free market replaces the struggle for survival found in the animal world with social cooperation in which everybody benefits. Capitalism is a system of peace, not war.Original article: https://mises.org/mises-wire/ludwig-von-mises-peace-and-social-cooperation

"The truth is that what destroyed this ancient civilization was something similar–almost identical–to the dangers that threaten our civilization today. On the one hand, it was interventionism, and on the other hand, inflation." In this Austrian Audible episode of THE Bitcoin Podcast, Walker reads Lecture 6: POLICIES & IDEAS, from Economic Policy: Thoughts for Today and Tomorrow by Ludwig von Mises, AKA Mises' Six Lessons Make sure to subscribe to "THE Bitcoin Podcast" wherever you listen or watch. DOWNLOAD "Economic Policy: Thoughts for Today and Tomorrow" MISES' SIX LESSONS PLAYLISTS: FOUNTAIN | YOUTUBE ***** THE Bitcoin Podcast Partners: > GET FOLD: https://use.foldapp.com/r/WALKER > Get the BITKIT mobile wallet: https://get.bitkit.to/walker > http://bitbox.swiss/walker -- use promo code WALKER for 5% off the Bitcoin-only Bitbox02 hardware wallet. > SIGN UP FOR THE FOLD BITCOIN REWARDS CREDIT CARD: https://foldapp.com/credit-card?r=UZoiP ***** If you enjoy THE Bitcoin Podcast you can help support the show by doing the following: FOLLOW ME (Walker) on @WalkerAmerica on X | @TitcoinPodcast on X | Nostr Personal (walker) | Nostr Podcast (Titcoin) | Instagram Subscribe to THE Bitcoin Podcast (and leave a review) on Fountain | YouTube | Spotify | Rumble | EVERYWHERE ELSE

En El tao del capital, el gestor de fondos Mark Spitznagel presenta su metodología central de inversión austriaca, en la que la victoria no proviene de librar la batalla decisiva inmediata, sino del enfoque indirecto de buscar la ventaja posicional intermedia, de apuntar a los medios indirectos en lugar de hacerlo directamente a los fines. Spitznagel ha sido el primero en condensar las teorías de Ludwig von Mises y la escuela austriaca de economía en una metodología de inversión eficaz y cohesionada.  A lo largo de esta sesión repasaremos junto al inversor y divulgador Marcos Pérez, buen conocedor de la obra, las ideas principales de El tao del capital, un libro que invita al lector a descubrir la armonía profunda de los complejos procesos del mercado.    Marcos Pérez es astrofísico de formación. Actualmente colabora como docente en la Universitat Politécnica de Valencia, donde enseña sobre inversiones alternativas, hedge funds y behavioral finance. Además. También forma parte del Comité de Inversión de la EAF Ennos Value, entidad que asesora el fondo de inversión Affinium Internacional FI. Escribe como @inversobrio en la red social X. 

In his 1944 book Bureaucracy, Ludwig von Mises described why bureaucracies behave as they do. I apply some of his insights to what we laughingly call our "public health" bureaucracy. Sponsors: Field of Greens: a delicious fruit and vegetable drink specifically designed to support crucial organs and systems in your body, so you get the perfect bloodwork result you're hoping for. Get 20% off and free shipping at FieldOfGreens.com when you use code WOODS. CrowdHealth: Code: WOODS Websites Mentioned: DiaryOfCovid.com WoodsHistory.com Show notes for Ep. 2640

On this May Day edition of Parallax Views w/ J.G. Michael, political theorist Matt McManus joins us to unpack The Political Theory of Liberal Socialism, his groundbreaking new book. We explore: Liberal Socialism Defined: Why liberal rights and socialist economics aren't mutually exclusive—and how methodological collectivism and normative individualism unite them. Historical Roots: From Mary Wollstonecraft and Thomas Paine's radical democracy to John Stuart Mill's social liberalism, contrasted with Edmund Burke and Ludwig von Mises. Core Principles: A developmental ethic over mere inquiry, economic democracy within a liberal framework, and, for some, extending democratic values into the family. Key Influences: John Rawls's Theory of Justice, Samuel Moyn's critique of Cold War liberalism and the relationship between Samuel Moyn's book LIBERALISM AGAINST ITSELF: COLD WAR INTELLECTUALS AND THE MAKING OF OUR TIMES and Matt's book, and a speculative look at Richard Rorty's pragmatic liberalism in relation to Liberal Socialism. Global & Anti-Colonial Critiques: Addressing charges of Eurocentrism and imperialist bias by anti-colonial and Global South critiques of Liberal Socialism. Critiques from the Left & Right: Responses to neoliberal, libertarian, and Marxist-Leninist objections, and why caricaturing Marx misses his nuanced view of liberal institutions. If you're interested in the crossroads of political philosophy, the future of democratic socialism, and reclaiming a tradition of freedom and equality, tune in to this deep dive with Matt McManus.

Tech billionaires' paradoxical political support of TrumpNick Cohen and Quinn Slobodian,@zeithistoriker, the Canadian author and academic, discuss the paradoxical behaviour of American libertarians, particularly tech billionaires, who have been supporting Donald Trump despite his policies contradicting their beliefs in free trade, limited state interference, and unrestricted business operations. Quinn, a professor of international history at Boston University, introduced his book "Hayek's Bastards: The Neoliberal Roots of the Populist Right," which explores the roots of the modern radical right and helps understand why these individuals seem to make little sense.Neoliberalism's Shift From Globalism to AuthoritarianismQuinn discusses the origins of neoliberal thought and libertarianism in the aftermath of the Habsburg Empire's collapse. He highlighted the Universalist project of Friedrich Hayek, Wilhelm Rupka, and Ludwig von Mises to rebuild the world economy. Quinn also explains how the consensus of globalism started to unravel in the 1990s, leading to a shift in libertarian Universalism towards human differences and acceptance of authoritarian partnerships. He uses the figure of Peter Thiel to illustrate this transformation.Silicon Valley's Libertarian escapism and governmentQuinn discusses the convergence of Silicon Valley escapism and libertarianism, highlighting the story of California and its influence on libertarianism. He also touched on the role of the government in supporting the tech industry, particularly in the development of the Internet. Nick agrees with Quinn's points and added that the hippie movement also sought to reduce the power of the state over the individual.Ultra-rich influence on American societyQuinn and Nick discuss the influence of the ultra-rich on American society. Quinn argued that the ultra-rich have abandoned the need to buy legitimacy, which is a warning sign. Nick suggests that the ultra-rich are not as concerned with America as they should be, and that they are more sanguine about Trump's actions. Quinn also mentioned that the ultra-rich are constantly seeking security and are leaning into the dynamics of capitalist competition. Nick concludes that the ultra-rich are willing to use any means to defeat their perceived enemies, including burning down American cultural institutions.Read all about it!Nick Cohen's @NichCohen4 latest Substack column Writing from London on politics and culture from the UK and beyond.Quinn Slobodian is a Canadian author & historian specialising in modern Germany and international history. He is currently Professor of International History at Boston University. His latest book is Hayek's bastards: The Neoliberal roots of the Populist Right. Hosted on Acast. See acast.com/privacy for more information.

In this episode, Mark Thornton explores the looming threat of hyperinflation in the US. With the national debt soaring past $33 trillion and future obligations exceeding $100 trillion, can America avoid a financial crisis where prices skyrocket out of control?Mark examines historical hyperinflations in leading economies like France and Germany, and how excessive government spending and debt played a role. Drawing on the insights of Ludwig von Mises, Mark dissects the three phases of inflation and what happens when the public loses faith in holding money.Is hyperinflation merely an accounting problem, or does it portend economic ruin and societal breakdown? Tune in to find out, and to explore the potential consequences for our future.Additional Resources“Hyperinflation, Money Demand, and the Crack-Up Boom” by Thorsten Polleit: mises.org/MI_116_A"Hyperinflation and the Destruction of Human Personality” by Joseph T. Salerno: mises.org/MI_116_BFurther Readings on Hyperinflation (Oxford University Mises Society): mises.org/MI_116_CEconomic Policy: Thoughts for Today and Tomorrow by Ludwig von Mises: mises.org/MI_116_DThe Theory of Money and Credit by Ludwig von Mises: mises.org/MI_116_EJoin us May 15-17, 2025, at the Mises Institute for our Revisionist History of War Conference. This is our first history conference in almost 30 years. For more details and to register, visit https://Mises.org/rhw.Be sure to follow Minor Issues at Mises.org/MinorIssues

When U.S. President Donald Trump announced the imposition of his “Liberation Day” tariffs against most of America's global trading partners in April 2025, he seemed to harken back to a centuries-old form of economic nationalism known as mercantilism, which sought prosperity through restrictive trade practices. Opponents of mercantilism from the eighteenth century onward, such as Adam Smith and John-Baptiste Say, became known as classical liberals. In the fullness of time, classical liberalism gave rise to the political philosophy we now know as libertarianism.When most people think of libertarianism, they typically have in mind a small number of figures — including Milton Friedman, Friedrich Hayek, Ayn Rand, Murray Rothbard, and Ludwig von Mises — who were generally associated with the American political right in the mid-twentieth century. But in fact libertarianism was born in the nineteenth century (not the twentieth), and was first developed in Britain and France (not the United States). And as Matt Zwolinski emphasizes in his monumental intellectual history of libertarianism, The Individualists (co-authored with John Tomasi), libertarianism is better thought of as a cluster of related concepts than a unitary doctrine. It's true that most libertarians historically have been concerned with the defense of individual autonomy, property rights, free markets, and personal liberty against state coercion. But the first individual to self-identify as a “libertarian” was the nineteenth-century French anarcho-communist Joseph Déjacque, and libertarianism as it developed often took radical and left-leaning forms, particularly through its association with the abolitionist movement in America in the years before the Civil War. In this podcast conversation, Matt Zwolinski (a philosophy professor at the University of San Diego) discusses his investigations into the intellectual history of libertarianism as well as his analysis of the longstanding tensions between radical and reactionary elements within the philosophy. He describes post-Cold War “third wave libertarianism” taking both right-wing expression (in the form of paleolibertarianism) as well as more radical forms (including left-libertarianism and “bleeding-heart libertarianism.”) And he suggests reasons why many libertarians see more potential in combating poverty through Universal Basic Income grants rather than through more traditional government-administered antipoverty programs.

Liberalismo: La tradición clásica se publicó originariamente en alemán en 1927 con el escueto título Liberalismus. La primera edición inglesa fue publicada en 1962, con el título The Free and Prosperous Commonwealth: An Exposition of the Ideas of Classical Liberalism. Según Mises, el liberalismo no es una religión ni tampoco una filosofía universalista ni, menos aún, un partido político defensor de intereses particulares. El liberalismo fue el primer movimiento político de la historia basado en el valor absoluto y primordial de la libertad, la propiedad privada, el Estado de Derecho, la tolerancia y la cooperación entre los individuos y los pueblos, y el protagonismo de la iniciativa individual y la sociedad civil frente al «gobierno omnipotente». El liberalismo define un modelo de civilización que ha demostrado ser capaz de crear riqueza y bienestar para todos y de elevar el nivel de vida de una población en constante aumento.  A lo largo de esta sesión repasaremos con el profesor Cristóbal Matarán las ideas principales de este libro que es, sin duda, una de las mejores introducciones a las ideas libertad, escrita por el economista austriaco más influyente del siglo XX.    Cristóbal Matarán López es doctor en Economía por la Universidad Rey Juan Carlos (Madrid), profesor adjunto del Departamento de Economía y Empresa de la Universidad Europea de Madrid, y profesor asociado en la Universidad Francisco Marroquín. En sus publicaciones investiga los orígenes del pensamiento económico austriaco y sus debates actuales. Ha publicado en revistas como The Review of Austrian Economics o Economic Affairs. También ha publicado artículos de opinión en el Instituto Juan de Mariana y Disidentia. Es asistente editorial de Procesos de mercado. Revista europea de economía política. 

Grove City College has recently digitized its collection of post-war materials—including photos, correspondence, and manuscripts—from the great Austrian economist, Ludwig von Mises. Mises' biographer, Guido Hülsmann, joins Bob to discuss some of the treasures that have been made available online.Explore the Grove City College's Digital Mises Archive: Mises.org/HAP489aDr. Hülsmann's Biography of Mises, The Last Knight of Liberalism: Mises.org/HAP489bMurray's 99th birthday is March 2. Please share pictures of yourself (hashtag #happybirthdayrothbard) reading a Rothbard book or wearing a Rothbard t-shirt. The Mises Institute is celebrating with its Murray99 campaign: Everyone who donates $26 or more using the mises.org/murray99 link will receive a copy of Economic Depressions: Their Cause and Cure, originally published in 1969, and Nations by Consent, originally published in 1994. The first 26 donors will also receive the Rothbard lapel pin. All donations will fund student scholarships.Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25

Grove City College has recently digitized its collection of post-war materials—including photos, correspondence, and manuscripts—from the great Austrian economist, Ludwig von Mises. Mises' biographer, Guido Hülsmann, joins Bob to discuss some of the treasures that have been made available online.Explore the Grove City College's Digital Mises Archive: Mises.org/HAP489aDr. Hülsmann's Biography of Mises, The Last Knight of Liberalism: Mises.org/HAP489bMurray's 99th birthday is March 2. Please share pictures of yourself (hashtag #happybirthdayrothbard) reading a Rothbard book or wearing a Rothbard t-shirt. The Mises Institute is celebrating with its Murray99 campaign: Everyone who donates $26 or more using the mises.org/murray99 link will receive a copy of Economic Depressions: Their Cause and Cure, originally published in 1969, and Nations by Consent, originally published in 1994. The first 26 donors will also receive the Rothbard lapel pin. All donations will fund student scholarships.Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25

In this lively new history, Brian Doherty provides a concise, thorough account of the intellectual roots of the American libertarian movement, with helpful summaries of key figures, institutions, and events. Modern Libertarianism effortlessly combines historical insights and intellectual profiles of important figures—including Ludwig von Mises, F. A. Hayek, Ayn Rand, Murray Rothbard, Milton Friedman, and Barry Goldwater—and key institutions such as the Foundation of Economic Education and the Mont Pelerin Society.A superb introduction for the newcomer, yet rich and varied enough for those steeped in the libertarian tradition, Modern Libertarianism is a tribute to those who advocated for the cause of political liberty in America in the 20th century. Hosted on Acast. See acast.com/privacy for more information.

*Streamyard defaulted to my computer microphone and not my recording microphone. I apologize for the terrible sound quality. In this episode I explore how the American progressive left and conservative right share many fundamental assumptions about the use of authoritarian power. While the political spectrum in the West is usually conceptualized as left vs. right, I argue that it should be more accurately characterized as liberty vs. authority. I discuss the libertarian non-aggression principle, which states as a moral principle that violence should never be initiated against a peaceful person, and I read from Murray Rothbard and Hans-Herman Hoppe to elaborate the point. I then compare this with conservative and progressive conceptions of power, both of which affirm the use of arbitrary state power and violence to achieve their preferred social ends. This is why our only two political options are between liberty and varying degrees of authoritarianism. I then read from Mark 10:35-45, John 15, 1 John 4, and Matthew 23, showing that self-sacrificial love for others and the rejection of worldly authoritarian powers are principles fundamental to Christianity and explain how libertarianism is a more consistent modern political application of those fundamental principles.  Media Referenced:Rothbard, For a New Liberty: https://a.co/d/2nP2PZCHoppe, A Theory of Socialism and Capitalism: https://a.co/d/0jub6a2Jesus and Capitalism: https://libertarianchristians.com/episode/ep-180-jesus-and-capitalism/Mises vs. Wright: https://libertarianchristians.com/episode/ep-178-ludwig-von-mises-vs-a-christian-scholar-round-3-n-t-wright/ The Protestant Libertarian Podcast is a project of the Libertarian Christian Institute and a part of the Christians For Liberty Network. The Libertarian Christian Institute can be found at www.libertarianchristians.com.Questions, comments, suggestions? Please reach out to me at theprotestantlibertarian@gmail.com.  You can also follow the podcast on Twitter: @prolibertypod, and YouTube, @ProLibertyPod, where you will get shorts and other exclusive video content. For more about the show, you can go to theprotestantlibertarianpodcast.com. If you like the show and want to support it, you can! Go to libertarianchristians.com, where you can donate to LCI and buy The Protestant Libertarian Podcast Merch! Also, please consider giving me a star rating and leaving me a review, it really helps expand the show's profile! Thanks!

There are many important twists and turns in human history, but from the long perspective, the history of humans can be seen as a very positive upward sloping trend in all the important standard of living markers. Why don't Austrian economists talk about trends?"The Goose That Laid the Golden Eggs" (Minor Issues Podcast): Mises.org/MI_78"Ludwig von Mises on Trade, Human Development, and Human Progress" by Mark Thornton: Mises.org/MI_78_A"Population" (Unanimity Podcast): Mises.org/U3Enter the raffle to win a ticket to the Mises Institute's April 26 event in Phoenix at Mises.org/phoenixraffle25. The deadline to enter is April 1. Winners will be announced the week of April 7. To learn more about "Our Enemy, The Bureaucracy," visit Mises.org/phoenix25Be sure to follow Minor Issues at Mises.org/MinorIssues

Perhaps John Maynard Keynes' best con job was convincing people that a growing economy needs inflation, lots of inflation. As David Gordon points out, however, Ludwig von Mises eloquently explained why inflation undermines the free market economy.Original article: The Inflationist View of History

It was not long ago that signs for “Help Wanted” seemed to be in every store window. However, they are now being replaced with “Store Closing” signs. This switcheroo tells us volumes about how people in the economy are adjusting to the Fed's money printing business.See also, "Profit and Loss" by Ludwig von Mises: https://mises.org/library/book/profit-and-lossEnter the raffle to win a ticket to the April 26 Mises Institute event in Phoenix at Mises.org/phoenixraffle25. The deadline to enter is April 1. Winners will be announced the week of April 7. To learn more about "Our Enemy, The Bureaucracy," visit Mises.org/phoenix25Order a free paperback copy of Murray Rothbard's What Has Government Done to Our Money? at Mises.org/IssuesFreeBe sure to follow Minor Issues at Mises.org/MinorIssues.

Perhaps John Maynard Keynes' best con job was convincing people that a growing economy needs inflation, lots of inflation. As David Gordon points out, however, Ludwig von Mises eloquently explained why inflation undermines the free market economy.Original article: The Inflationist View of History

In this episode, I discuss the problem of unclear economic thinking in Biblical scholarship. Terms like ‘capitalism' and ‘socialism' are often left undefined by the scholars who employ them, and the vague cultural notion that ‘capitalism' is about evil and greed while ‘socialism' is about virtue and charity characterizes the use of economic language in scholarship on the Bible. I discuss how many excellent scholars nevertheless make Jesus out to be a modern socialist despite doing excellent historical work on ancient economic systems. I define capitalism as it is understood by the Austrian school as a theory of private capital accumulation based on absolute respect for property rights. I then explain how modern economic concepts are foreign to ancient thinkers. I read through Luke 12:13-34 and explain the historical questions which need to be asked to accurately interpret this passage and explain how modern interpreters gloss over Jesus's statements on wealth and charity with an uncritical appeal to socialism. I then explore this dynamic by reviewing the work of two New Testament scholars, Richard Horsley and Douglas Oakman, who do excellent historical analysis on ancient economic and political systems but impose modern socialist ideas onto the texts while coming to the incorrect political conclusions that all our modern problems are a result of capitalism on ‘capitalism', when the real problem are socialist policies that they support. They allow their biases to determine interpretive outcomes. I also reveal that I am writing a book about all of this which I hope will be published in 2026.   Media Referenced:LVM vs. N.T. Wright: https://libertarianchristians.com/episode/ep-178-ludwig-von-mises-vs-a-christian-scholar-round-3-n-t-wright/LVM vs. James K.A. Smith: https://libertarianchristians.com/episode/ludwig-von-mises-vs-christian-scholar-round-2-james-k-a-smith/LVM vs. Michael Gorman: https://libertarianchristians.com/episode/ludwig-von-mises-vs-christian-scholar-round-1-michael-gorman/James Crossley: https://libertarianchristians.com/episode/ep-169-the-next-quest-for-the-historical-jesus-with-james-crossley/The Political Aims of Jesus, Oakman: https://www.amazon.com/dp/0800638476?ref_=cm_sw_r_ffobk_cp_ud_dp_R1NS418YPJNNEY9DRTDS_2&skipTwisterOG=1&bestFormat=true&newOGT=1Jesus and Empire, Horsley: https://www.amazon.com/dp/080063490X?ref_=cm_sw_r_ffobk_cp_ud_dp_NBCAC8JTEJVMTVEC3M94&skipTwisterOG=1&bestFormat=true&newOGT=1 The Protestant Libertarian Podcast is a project of the Libertarian Christian Institute and a part of the Christians For Liberty Network. The Libertarian Christian Institute can be found at www.libertarianchristians.com.Questions, comments, suggestions? Please reach out to me at theprotestantlibertarian@gmail.com.  You can also follow the podcast on Twitter: @prolibertypod, and YouTube, @ProLibertyPod, where you will get shorts and other exclusive video content. 

In the long-awaited third installment of my Ludwig von Mises vs. a Christian Scholar series, I take on the big dog himself, N.T. Wright. Wright is the world's most famous New Testament scholar and theologian and is known for his pioneering work on the ‘New Perspective' on Paul, Paul and empire, and the historical Jesus. I explain how his own theology of empire and the church helped lead me to libertarianism, but how Wright himself often fails to see the modern consequences of his own theological positions. I look at a passage from his book History and Eschatology where he writes a veiled critique of capitalism, and counter it with a passage from Mises's Human Action that explains how free market capitalism actually works. This demonstrates that on a definitional level Wright doesn't understand free markets and attributes to ‘capitalism' economic problems that are directly caused by government intervention in the market. I then play clips from an interview Wright had with entrepreneur Phil Chen, showing that Wright fails to understand monetary theory, central banking, economic regulation, and markets. I counter his points with selected readings from the works of Mises, demonstrating how an understanding of the Austrian school of economics would better help Wright better apply his theology to modern social and economic problems.  Media Referenced:Round 1: Mises vs. Gorman: https://libertarianchristians.com/episode/ludwig-von-mises-vs-christian-scholar-round-1-michael-gorman/Round 2: Mises vs. Smith: https://libertarianchristians.com/episode/ludwig-von-mises-vs-christian-scholar-round-2-james-k-a-smith/‘Inflation' defined: https://libertarianchristians.com/episode/ep-66-the-high-cost-of-inflation-and-the-war-in-ukraine/Bitcoin explained: https://libertarianchristians.com/episode/bitcoin-and-the-future-of-currency-with-adam-obrien/Money, the Fed, and Christianity: https://libertarianchristians.com/episode/ep-99-money-the-federal-reserve-and-christian-ethics-with-jordan-bush/Human Action: https://mises.org/podcasts/human-action-treatise-economicsHistory and Eschatology: https://a.co/d/8tHavlmMoney and Inflation: https://mises.org/library/book/ludwig-von-mises-money-and-inflationPhil Chen Interview Part 1: https://www.youtube.com/watch?v=fFR7J2-N6JM&list=PPSVPhil Chen Interview Part 2: https://www.youtube.com/watch?v=N2W0Jo5QAaU&list=PLQhBTXNmfWOyX5l7di2JV8ghJh4SdwcUF&index=8 The Protestant Libertarian Podcast is a project of the Libertarian Christian Institute and a part of the Christians For Liberty Network. The Libertarian Christian Institute can be found at www.libertarianchristians.com.Questions, comments, suggestions? Please reach out to me at theprotestantlibertarian@gmail.com.  You can also follow the podcast on Twitter: @prolibertypod. For more about the show, you can go to theprotestantlibertarianpodcast.com. If you like the show and want to support it, you can! Check out the Protestant

This is a fascinating episode that takes up thinkers that the podcast has covered before—the Koch brothers, Austrian economists like Ludwig von Mises and Friedrich Hayek, and others—but from a different angle: that of the entrepreneurial work ethic. Historian Erik Baker's superb book on the topic, Make Your Own Job: How the Entrepreneurial Work Ethic Exhausted America, offers a genuinely absorbing tour of this most American of ideologies, one that has emerged again and again, in various guises and in different circumstances, to reconcile workers to the contradictions of the U.S. economy, especially the shortage of jobs that has come with its many "innovations" and changes. What are the historical and even spiritual sources of the entrepreneurial work ethic, and what ideological needs does it serve for bosses and managers? Why is it so seductive to Americans? How does it relate to deeply American impulses relating to responsibility, guilt, and shame? In what ways did the entrepreneurial work ethic serve U.S. aims during the Cold War? And how has it endured in our age of Silicon Valley tech overlords and Donald Trump, entrepreneur, being re-elected? We take up these questions and many more in this rich conversation.Sources:Erik Baker, Make Your Own Job: How the Entrepreneurial Work Ethic Exhausted America (2025)— "Fairytale in the Supermarket," The Baffler, Jan 14, 2025Dale Carnegie, How to Win Friends and Influence People (1936)Norman Vincent Peale, The Power of Positive Thinking  (1952)Sarah Jaffe, Work Won't Love You Back: How Devotion to Our Jobs Keeps Us Exploited, Exhausted, and Alone, (2021)Listen again:"Bomb Power" (w/ Erik Baker), Dec 19, 2023...and don't forget to subscribe to Know Your Enemy on Patreon to listen to all of our premium episodes!

Long before the term "Critical Race Theory" was coined, Ludwig von Mises already was critiquing what he called "racial polylogism," which claims that what passes for truth depends upon racial identity. While people might hold different perspectives, truth still is truth.Original article: Critical Race Theory and Racial Polylogism

In 1940, shortly after Nazi armies ran across Europe and conquered France, Ludwig von Mises and his wife, Margit, escaped to the US after a harrowing journey through hostile territory. Here is their story.Original article: The Secret Passage: How Amzalak and Salazar Helped Ludwig von Mises Escape the Nazis

The original Mont Pelerin Society meeting in 1947 featured Ludwig von Mises, whose warnings about the dangers of socialism and totalitarianism had gone unheeded. In the wreckage of World War II, the truth of his message should have been obvious. It wasn't.Original article: The Battle on Lake Geneva—Mises vs. the Statists at Mont Pelerin

The iconic Hermès Birkin bag helps illustrate Carl Menger's “Theory of the Good,” and Ludwig von Mises's explanation of human action.Original article: The Secret Economic Theory Behind the $100,000 Birkin Bag

While men like Murray Rothbard and Ludwig von Mises believed in “just” war, nonetheless, they did not believe that wars lead to “just” outcomes, as war leads to destruction of civilization. The outcome of the American war of secession proved that point eloquently.Original article: Peace as a Prerequisite for Civilization

Assine o Café Brasil em https://canalcafebrasil.com.br  Karl Marx, um pensador alemão do século XIX, é o pai do que conhecemos como "marxismo". Para ele, o capitalismo – o sistema econômico em que vivemos – era cheio de problemas. Ele acreditava que a história era movida pela "luta de classes", ou seja, pelas disputas entre grupos de pessoas com interesses diferentes, como os "capitalistas" (donos das fábricas e das empresas) e os "proletários" (os trabalhadores). Mas aí apareceu um tal de Ludwig Von Mises, que abalou as certeza de Marx. Será que as ideias de Karl Marx, se um dia fizeram, ainda fazem sentido?See omnystudio.com/listener for privacy information.

President of the Mises Institute and author of “How Capitalism Saved America”, Dr. Thomas DiLorenzo joins us to uncover the current state of capitalism and if it still exists in America. Earlier in the episode, Keith discusses the inaccuracy of economic predictions, citing examples like the 2023 recession that never happened, the negative impact of misinformed predictions on investment decisions and business growth.  Persistent housing price crash predictions have been consistently wrong despite global pandemics and higher mortgage rates. Dr. DiLorenzo advocates for #EndTheFed to reduce inflation and restore free market principles. Learn how voluntary exchange between buyer and seller through market prices communicates information and influences production. Resources: Learn more about Austrian economics and Ludwig von Mises through visiting mises.org  Show Notes: GetRichEducation.com/521 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai     Keith Weinhold  00:00 Keith, welcome to GRE. I'm your host. Keith Weinhold, reviewing some terrible economic predictions and why it matters to you. Then the President of the Mises Institute joins us. Does capitalism still exist in the US and what would happen if we ended the Fed, today on get rich education.   00:24 Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, who delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show. Guess who? Top Selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit getricheducation.com   Corey Coates  01:09 You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  01:25 welcome to GRE from Syracuse, Sicily to Syracuse, New York, and across 188 nations worldwide, you're listening to one of the longest running and most listened to shows on real estate investing. This is Get Rich Education. I'm your host, Keith Weinhold, now a lot of media companies and pundits and influencers like to make predictions. Listeners like learning about predictions and by engaging just a little of that each of the past few years on one of the last episodes of the year. Here, I forecast the national home price appreciation rate for the following year, many media outlets, pundits and influencers have made terrible, just absolutely terrible, predictions about interest rates and other financial forecasts. Last year, a majority of Pro prognosticators firmly forecast six or eight Fed rate cuts this year, for example, well, we're going to have far fewer, and that's because high inflation kept hanging around. Then there's the 2023 recession that never happened, yet both Bloomberg and the economist actually published some rather ignominious headlines, as it turned out, they published these in the fall of 2022 Bloomberg, big headline was forecast for us, recession within year hits 100% in blow to Biden, well, That was false. That didn't come true. I mean, 100% that doesn't leave you any room for an out. And then also published in the fall of 2022 The Economist ran this headline why a global recession is inevitable in 2023 All right, well, they both believed in a recession, and they believed in it so deeply that it got fossilized. Well, an economic archeologist like me dug it up.   Dr Thomas DiLorenzo  03:31 We are going to die   Keith Weinhold  03:35 well, but I didn't risk my life like Indiana Jones did there. This archeology, it only involves some Google searches. Well, here's the thing. What's remarkable about America staving off a mammoth recession and leaving all the other g7 nations in the economic dust is the fact that merely predicting a recession often makes it come true. Just predicting one often turns a recession into a self fulfilling prophecy. Yeah, recession forecast headlines alone, they can spook employers from making new hires and slow down manufacturing, and it can also disillusion real estate investors from expanding their portfolios. Well, the US economy grew anyway, besides the farcical prognostications about myriad interest rate cuts in a quote, unquote definite 2023 recession that never happened. You know, there's also a third forecast that so many got wrong. And you probably know what I'm gonna say. I've brought it up before, because this hits our world, those erstwhile and well still ever present housing price crash predictions. I mean this facet of the gloom boom really ramped up from 2020 One until today, even a global pandemic, new wars and a triplicate mortgage rates couldn't stop the housing price surge and the rent surge. A lot of doomsdayers just couldn't see, or they didn't even want to see that a housing shortage would keep prices afloat. They didn't want to see it because they get more clicks when they talk about the gloom government stimulus programs also buoyed prices, and deep homeowner equity cushions will still keep prices afloat. Ever since 2021 here on the show, I've used that rationale and more to explain that home prices would keep appreciating, but that the rate of appreciation would slow down, and it has slowed down since 2021 see YouTubers tick tockers. They notoriously use woe begone housing crash headlines, because that gets more clicks and then some of the rationale behind this. The reasoning is just dreadful, like, what goes up must come down, all right? Well, this is like, why does it matter? Who cares about wrong predictions anyway? What's the point? Well, people become misinformed. People waste their time on these things and see no one loses money on dismal economic predictions. But the damage is done, because when investors don't act well, then they didn't get the gain that they should have had. Businesses didn't get the gain that they should have had when they could have made new investment and hired new employees sooner. And of course, a recession is going to happen sometime. They occur, on average, every five to six years. It is just a normal part of the business cycle will collectively these three faulty economic predictions, rate cuts, a recession and a housing price crash. I think if you bundle them all up combined, it could be as bad as one doomsday prediction about worldwide starvation or the Mayan apocalypse. Remember that the wide to K bug, the acid rain, even that the internet is just a fad that ran a buck 30 years ago. World War Three is eminent, robots overtaking humans, or how about running out of crude oil. I mean, we're definitely all supposed to have jet packs in flying cars by now, right? But yet, did anyone have the clairvoyance to predict the stock market crash of 1929 or September 11 terrorist attacks, or Trump's surprise, 2016 presidency or Bitcoin hitting 70k A while back, or the coronavirus. So really, overall, the bottom line here with predictions is that no one knows the future. Control what you can maintain equanimity, add good properties, gradually raise rent, reduce expenses, create leverage and expect inflation truly the best way to predict the future is to create it in just that way. Well is the USA capitalistic nation today. That's what we'll discuss later with this week's guest. When Chuck Todd hosted the show Meet the Press, he interviewed AOC about this. Yes, I'm talking about us. House Rep from New York, Alexandria Ocasio Cortez, what she say? You   08:34 have said you are democratic socialist. Can you be a Democratic socialist and a capitalist? Well, I think it depends on your interpretation. So there are some Democratic socialists that would say, Absolutely not. There are other people that are democratic socialists that would say, I think it's possible. What are you? I think it's possible. I think you say to yourself, I'm a capitalist, but I don't say that. You know, if anything, I would say, I'm I believe in a democratic economy, but.   Keith Weinhold  09:03 okay, well, I'm not sure if that clears it up at all. And I've listened to more of that clip, and it just makes things more confusing. But I think that most people have trouble drawing a line between capitalism and neighboring economic systems. Where exactly do you draw that line? I don't know exactly where to draw it. When I think of capitalism, I think of things though, like removal of interventionist central planning and allowing the free market to run with few guardrails. And then there's an issue like labor unionization. I don't really know about something like that. This is a real estate show. I'm still forming an opinion on a topic like that. In you know, some of this gets political, and that's beyond the scope of get rich education. The Fed was created in 1913 that central planning, its central banking from 1987 to. 2006 Alan Greenspan reigned as Fed chair. Those were his years, and he became even more interventionist. And then his successor, Ben Bernanke, maybe even more so with quantitative easing and such. Let's talk about, should they end the Fed and capitalism with this week's expert guest. You very well may have heard of the late, famed Austrian American economist Ludwig von Mises today, the Mises Institute carries on his legacy, and this week's guest is none other than the President of the Mises Institute. He's also the number one best selling author of how capitalism saved America and his newer book with a title that I love, The Politically Incorrect Guide to Economics. Hey, it's great to have you here. It is. Dr Thomas DiLorenzo.   Dr Thomas DiLorenzo  11:00 pleased to be with you. Thanks for having me.Th   Keith Weinhold  11:02 Well, Dr DiLorenzo, for those that don't know, just tell us a bit in an overview about Austrian economics and what Ludwig von Mises stood for.   Dr Thomas DiLorenzo  11:02 Well, Ludwig von Mises was the preeminent critic of socialism and fascism in Europe, and in his day, he fled the Nazis literally hours before the Gestapo broke into his apartment in Geneva, because he was the preeminent critic of fascism and socialism, and he was also Jewish, and so he had to get out of town. And he miraculously ended up after wandering through Europe with his wife in New York City, and he taught at New York University for many years, until he died in 1973 and but the Austrian School of Economics is a school of thought. It has nothing to do with, necessarily, with the Government of Austria, the country of Austria, just this the founder of a man named Carl Menger happened to be from Austria, but probably the most famous or well known among Americans would be Friedrich Hayek, who won the Nobel Prize in 1970s he was a student of Ludwig von Mises and critics of interventionism, critics of socialism. We teach about free markets, of how markets actually work and how governments don't work. And that's in a nutshell, that's what it's about. And you could check out our website, mises.org, M, I, S, E, S.org, you can get a great economic education. We have a lot of free books to download. Some of them are downloaded 30 or 40,000 times a month. Still, it's even Mises old books like human action, first published in the 1960s and so you can get a great education just by reading our website.   Keith Weinhold  12:42 Well, congratulations, that's proof that you're doing an excellent job of carrying on the Mises legacy into the present day, a lot of which is championing capitalism. Do we have capitalism in the United States today?   Dr Thomas DiLorenzo  12:59 I was an economics professor from 40 years before I got this job as President of the Mises Institute. And I used to say we had islands of socialism in a sea of capitalism at the beginning of my career. But now I'd say it's the opposite, that we have islands of capitalism in a sea of socialism. And socialism, this data is not defined anymore as government ownership. That was, you know, about 100 years ago, the socialism. It's basically government control of industry and in addition to government ownership. So the instruments of the welfare state, the income tax and the regulatory state, is our version of socialism, or central planning, if you will. And it's the Federal Reserve the Fed, which is a government agency that orchestrates the whole thing, really, it's a big, massive central planning industry that controls, regulates basically every aspect of any kind of financial transaction imaginable. They list in their publications over 100 different functions of the Federal Reserve. It's not just monetary policy. It's a big regulatory behemoth, and so that's that's what the Fed is. That's what I think we have today. A friend of mine, Robert Higgs, a well known economic historian, says our system is what he calls participatory fascism. And fascism was a system where private enterprise was permitted, but it was so heavily regulated and regimented by the government that industry had to do what government wanted to do, not what its customers wanted it to do, so much, and a large part of our economic system is just like that, and we get to vote still, so that's where the participatory and comes in, and the pin of Robert Hinz.   Keith Weinhold  14:41 yeah, maybe at best, I can think of today's system as capitalism with guardrails on but the guardrails keep getting taller. And I think of guardrails as being, for example, regulatory agencies like the Fed in FINRA. In the FDA.   Dr Thomas DiLorenzo  15:01 It is the beginning of my career. You know, I studied economics and a PhD in economics, and there was a big literature on what's called regulatory capture. And it was sort of a big secret among US economic academics. There was all this research going on and how the big regulatory agencies created by the federal government in the late 19th, early 20th centuries, were captured by the industries that they were supposed to be regulating. Right? The theory was they would regulate these industries in the public's best interests. But what has happened from the very beginning is they were captured by the industries, and they benefit the industry at the expense of the public. But today, that's caught on thanks to people like Robert Kennedy Jr, frankly, has been a very popular author. He sold a gazillion copies of his book on Anthony Fauci, and in it, he explains in tremendous detail how the Food and Drug Administration was long ago captured by the pharmaceutical companies. And he's not the only one. I think that that is being more and more recognized by people outside of academic economics, like me, and that's a good thing, and that's sort of the worst example of crony capitalism. It's not real capitalism, but crony capitalism making money through government connections, rather than producing better products, cheaper products and so forth.   Keith Weinhold  16:21 I watched RFK Jr speak in person recently, and I was actually disappointed when he effectively dropped out of the upcoming presidential race. And I do want to talk more with you about the Fed shortly, but with all these regulatory agencies and how I liken them to guard rails. You know, I sort of think of it as a watchdog system that's failing. You mentioned the FDA. I know RFK Jr brought them up an awful lot, the Food and Drug Administration that are supposed to help regulate what we put inside our own bodies in our diet. But these systems are failing. We have regulatory agencies in industry, industry in regulatory agencies. I mean, look at the obesity rate. Look at all the ultra processed food that's allowed. Look at all the seed oils that are allowed in food that people actually think are healthy for them. So this system of capitalism with guardrails is failing almost everywhere you look.   Dr Thomas DiLorenzo  16:22 I wouldn't call it capitalism. I wouldn't use the word capitalism at all, other than crony capitalism, people can relate to that. You know, a lot of these regulatory agencies were lobbied for in the first place by industry. That while the very first one was the Interstate Commerce Commission, it was in the 1880s it was meant to regulate the railroad companies. The first president was the president of a Railroad Corporation, the head of the Interstate Commerce Commission. So talk about the fox guarding the hen house. That was from the very beginning. And so in a sense, this word capture theory of regulation, which Kennedy has used, they weren't really captured. They always were created by the government. The same is true of all the so called Public Utilities. It was the corporations, the electric power companies, the water supply companies, that lobbied for governments to give them a monopoly, a legal monopoly, in electricity, water supply and all these things that were called natural monopolies, but there was nothing natural about them. There was vigorous competition in the early 20th century in telephone, electricity, water supply, and that was all set aside by government regulation, creating monopolies. For example, in electric power, there's an economist named Walter primo who wrote a book some years ago showing that always have been several dozen cities in America that never went this way, that always allowed direct competition between electric power companies. And what do you know, better service and lower prices. As a result, they did dozens of statistical studies to demonstrate this in his book.   Keith Weinhold  18:58 Okay, well, that's a great case study. Why don't we talk about what things would look like if we took down one of these agencies? We're a real estate investing in finance show. Sometimes it's a popular meme or hashtag to say, end the Fed. What would it look like if we ended the Fed?   Dr Thomas DiLorenzo  19:18 Well, the Fed was created in 1913 in the same era, with all these other regulatory captured agencies were created, right? And it was created basically to cartelize and create a cartel for the banking industry to make it almost impossible to go bankrupt. They've been bailing out foolish bankers for 111 years. And of course, the biggest example was that as the crash of 08 after they they handed Goldman Sachs and other big investment banks billions of dollars. That was a direct assault on capitalism itself, because capitalism, as you know, is a profit and loss system. It's not a I keep the profits. You pay for my losses system. You're the taxpayer. But that's what happened with that. So the Fed would. Fall into that the Fed is actually the fourth central bank in America. We had three other ones. First one was called Bank of North America. Its currency was so unreliable, nobody trusted it went out of business in a year and a half. And then we created something called the Bank of the United States in 1791 same thing. It created boom and bust cycles, high unemployment, price inflation, corrupted politics. It was defunded after 20 years, and then it was brought back to fund the debt from the war of 1812 and so we had a Second Bank of the United States. It did the same thing, boom and bust cycles, price inflation, corrupted politics. Benefited special interest, but not the general interest, and President Andrew Jackson defunded it, and so we went without a central bank from roughly 1840 until 1913 so we've had experience of that. And what we had been was competing currencies, and that would be sort of a stepping stone. If we got rid of the fed, we wouldn't have to abolish the Fed altogether. We could amend the charter to the Fed to say you're no longer permitted to buy bonds. Can't buy government bonds anymore. That's how they inflate the money supply, right? By buying bonds. That's totally unnecessary. And we could just just that would be a great step forward, and we would sort of whittle away our $80 trillion debt, if you count again upon count the unfunded liabilities of the federal government,   Keith Weinhold  21:26 if we did end the Fed, what would the price of money? Which are interest rates really look like? Would a new market rate be sent by individuals and companies on the free market like Bank of America, with a customer or borrower settling on an interest rate that they both agree to.   Dr Thomas DiLorenzo  21:44 You know, the Fed uses sort of Soviet style economics, price control. The economists and are all getting all over Kamala Harris for recommendations for price controls on rent and other things. Well, the Fed price control. They control the price of money. That's what they do. And so there's a big, kind of a comical thing that here you have all these economists, if they were to teach economics in the week one, they would teach about the bad effects of price controls, and then they get a job at the Fed, and they spend their whole career enforcing price controls on money, and the interest rate would be determined by supply and demand for credit and inflationary expectations. That's what the market does. And you wouldn't have these bureaucrats at the Fed tinkering around with interest rates, creating tremendous arbitrage opportunities for Wall Street investors. With all the movements and interest rates, you'd have much more stable interest rates, and and you wouldn't have this ridiculous system where the Fed says we need to always have forever at least 2% inflation. And of course, they never meet that, and they lie about it. I don't believe for one minute that the price inflation right now is 3% or under 3% that's ridiculous, right? And so things should be getting cheaper. Everything should be getting cheaper because of all the technology we have. My first PC I bought in the early 80s for $4,000 and it was a piece of prehistoric junk compared to my cell phone today, that almost for free. Almost everything should be like that agriculture, but the reason it isn't is the Fed keeps pumping so much money in circulation, that it pumps up the demand for goods and services, and that's what creates price inflation. And by its own admission, that's what it does, even though it's charter, it's original charter said they're supposed to fight inflation. All of a sudden, about 10 years ago or so, they announced, south of blue, we always have to have at least 2% inflation. Congress had nothing to do with that. President had nothing to do with that, and the people of America had nothing to do with that. It was dictators like Alan Greenspan and Ben Bernanke that just make these announcements. And where does that come from when we live under the dictatorship of the Fed? And of course, the people who are hurt the most by the Fed are elderly people are living on relatively fixed incomes and are forced to become Wall Street speculators they want to make any more money other than their fixed income, where, you know, during the days of Greenspan, when they're pursuing zero interest rates, maybe the mortgage industry like that, but the people on retirement income were starving as a result of that. So it's been sort of an economic war on the retired population.   Keith Weinhold  24:24 Things should get faster and cheaper to produce, like you said. However, there's definitely one thing that's not getting faster to produce, that's housing build times. Housing build times have actually gone up, which is sort of another discussion unto itself. But we talk about the Fed and then setting prices. People wouldn't stand for setting the price or having price controls on oil or lumber or bananas, but yet we set the price of money itself. People have just become accustomed to that. Yet it's that money itself that we use to buy oil and lumber and bananas the fed with that dual mandate of stable prices and maximum employment. If we did abolish the Fed, what would happen to the rate of inflation?   Dr Thomas DiLorenzo  25:12 Well, we would have less inflation. It's supposed to what we replace it with. There's some system would be a replacement, but we wouldn't have the boom and bust cycles that we have now. There's been research in the past 100 years or so of the Fed, and what the academic researchers have concluded is that the Fed has made the economy in general more unstable than it was before we had the Fed and price inflation. That's a joke. The dollar is worth maybe three cents of what it was in the year 1913 right when the Fed was created. So it has failed on all accounts. And so if we got rid of it, we would reverse that. The idea would be to start out with a competing money system. And I'll tell you a quick story is, you know the word Dixie from the south, you know land of Dixie that was named after a currency by a New Orleans bank called the Dix D, I x 10 in French, and it was 100% gold reserve. It was backed by something real and valuable, and it was so popular as even used in Minnesota. But that's why the whole south, the states in the South, were using this currency, because it was so reliable. But during the Civil War, the national currency acts imposed taxes on the competing currencies and taxed them out of business and established the greenback dollar, as it was called, as the Monopoly money of the country. We didn't get a central bank during the Civil War, but we got that. And so that's the kind of system that we would have. Friedrich Hayek wrote a whole book about this, about competing currencies, called the denationalization of money. He poses that as a good stepping stone to a freer market in money. And like you said, Money is the most important thing. Is most more important than bananas or shoes or any of these other things that we might have price controls on.   Keith Weinhold  27:01 All right, so we're talking about the case for ending the Fed. What is the counter argument? I mean, other than the government wanting control, is there a valid, or any academic counter argument for keeping the Fed in place?   Dr Thomas DiLorenzo  27:16 The Fed has an army. I call it the Fed's Praetorian Guard of academics. There was a research article published by an economist named Larry White at George Mason University several years ago, and he found that 75% of all the articles in the academic journals regarding money, monetary policy and so forth, are by people who are basically paid by the Fed, one way or the other. Either they're fed economists, or they've been invited to a conference by the Fed, or they're an intern some relationship with the Fed. The late Milton Friedman once said, If you want a career as a monetary economist, it's not a good idea to criticize the biggest employer in your field. So there's a lot of nonsense about that. And so yes, you'll have all sorts of rationales, but it basically comes down to this, that we think we can do central planning better than the Russians did under communism, because the Fed is basically an economic central planning agency, and there's no reason to believe Americans are better at it than the Russians or anybody else. And it basically comes down to that, you know, studying the past 111 years that's showing Well, yeah, they've been trying that for 111 years. They've made the economy more unstable, and they have failed miserably to control inflation. And why should we give them another chance? Why should we continue along this road? We shouldn't So, yeah, there'll be all kind of excuses the late Murray Rothbard, who was one of the founders of the Mises, who once answered this question by saying, It's as though people said, Well, say the government always made shoes. 100 years ago they took over the shoe industry. People would be saying, who will make shoes if the government doesn't make shoes? The government has always made shoes, right? But the government has not always monopolized the money supply. It's only like I said, we abolished three Feds in our history. In American history, they weren't called the Fed, but they were central banks. And the Fed is called a central bank, and we've done that three times. We've abolished more central banks than we have kept in American history.   Keith Weinhold  29:17  We're talking with Dr Thomas D Lorenzo. He is the president of the Mises Institute. About, is there really any capitalism left more when we come back, this is Get Rich Education. I'm your host. Keith Weinhold,  hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group and MLS 42056, they provided our listeners with more loans than any provider in the entire nation, because they specialize in income properties, they help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start now while it's on your mind at RidgeLendingGroup.com, that's Ridgelendinggroup.com. Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. If your money isn't making 4% you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to an 8% return with compound interest year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor too. Earn 8% hundreds of others are text family to 66866, learn more about freedom. Family investments, liquidity fund on your journey to financial freedom through passive income. Text, family to 66866.   Kristen Tate  31:11 This is author Kristen Tate. Listen to Get Rich Education with Keith Weinhold, and Don't quit Your Daydream.   Keith Weinhold  31:27 welcome back to get rich education. We're talking with Dr Thomas DiLorenzo. He is the president of the Mises Institute. You can learn more about them @mises.org and Dr DiLorenzo. Frederick Hayek, an economist that you mentioned very well known and a student of Ludwig von Mises, he believed that prices are a communication mechanism between a buyer and a seller. Say, for example, there's a new style of single family rental home that everyone wants to rent. So therefore the rent price goes up when other builders see that the rent price goes up, that brings in more builder competition, and with more competition, that brings rent prices down, and then the world is filled with abundant housing, rather than a scarcity of housing. So that's how I think of a free market system within capitalism as working, as defined through Hayek.   Dr Thomas DiLorenzo  32:22 You know, the consumer is king. Von Mises once wrote about the same point where he said that people mistakenly believe that it's the bankers and the CEOs and the businesses that control what gets produced and so forth, but it's really the consumer. You build a housing development then people don't want those houses. You'll find out real fast who's in charge. It's not the mortgage brokers. It's not the bankers. It's not you, it's the consumer. That's the free market system, and if you do without it, and not using the free market system, whether it's for money or anything else, is kind of like trying to find your way around a strange city with no street signs, and the prices are the street signs that tell us what to do, exactly like you said, if there's strong demand for a certain type of housing, that'll drive the price up, and that'll tell the home builders, we can make money building more of these. And they will do that. Nobody tells them. The Chairman of the Fed doesn't have to tell them that the President doesn't have to tell them that Congress doesn't have to issue a declaration telling them to do that. That was the Soviet Union where they tried that. And that's the great thing about the market, is that the consumer can tell the richest man in the world like Elon Musk, go play in the traffic. Elon Musk, if they don't like his cars or whatever he's producing, even though he's the richest man in the world. And he understands that he's a pretty successful businessman, I would say, and so so he understands that the consumer is his boss.   Keith Weinhold  33:53 Well, what else do we need to know? You have published a lot of celebrated books, from how capitalism saved America to the politically incorrect guide to economics. What else might a real estate investor or an economic enthusiast need to know today? Oh,   Dr Thomas DiLorenzo  34:10 well, I think everybody needs to be their own economist. You can listen to the talking heads on TV and on podcasts and all that, but educate yourself and become your own economist. Because a lot of the people on TV, as you might see on the news, they have an ax to grind, or they have a sort of a hidden financial interest beyond what they're saying, Be your own economist. And that's why I'm selling my website, which is everything on it, it's for free, mises.org, and there are quite a few others too. You don't have to go to school, you don't have to get a degree. You can get a good economic education, for example, on money. We're in the middle of giving away 100,000 copies of a book called What has government done to our money. I'm Murray rothbar. You go to our website, scroll down to the bottom, and you can fill out a form online, and we'll send you free books and. You can educate yourself that way. And so just in general, I think that's what people need to do. I taught MBA students for many years who are people in their 30s or maybe even early 40s, who didn't have economics degrees, but they were really into it, and for the first time in their careers, they decided maybe I should understand how the economic world that I live in and work in every day operates rather than going through your life and your career without you. Might know all about real estate sales, but it's also useful to know about the economy in general and how things work.   Keith Weinhold  35:35 And when one becomes their own economic student and they take that on, I think it's important for them, like you touched on to not just consume the economic news that's on CNBC or other major media, because that doesn't really tell you how to create wealth. It might inform you, but it doesn't necessarily tell you how to take action. For example, on this show an educational channel, you might learn about a story about rising inflation like we had starting three or four years ago. And here we talk about how, okay, if inflation is going to be a long term economic force, you may or may not like what the Fed is doing, but rather than save money, borrow money, outsource that debt service to the tenant on a cash flowing asset like a single family home or an apartment building. And that inflation that you're learning about on CNBC will actually benefit you and debase your debt with prudent leverage on a property, for example, so not just consuming the news, but learning and educating yourself and acting.   Dr Thomas DiLorenzo  36:34 Oh, sure, well It just so happens that last night, I was talking to a friend of mine who's a real estate professional. They're all talking about, Oh, are we going to have a slight drop in interest rates? And I reminded them that there will be a part of the market if they see it, if we do have a slight drop in interest rates, we'll look at that and say, well, maybe this is a new trend. And so I'll sit back and I'll wait. I'm not going to buy now, because I think the interest rates are going to go down even further in the next six months there were, there would be some segment of the market that thinks that way. And so that's just one little thing. Another thing I would mention is that one of the basic tenets of free market economics is that voluntary trade is mutually beneficial. People buy and sell from each other, because both sides benefit. And that's very important for any business person to keep in mind as you structure business deals, because you know about business deal that is successful is basically, I will give you what you want, and you give me what I want, and we're both happy. And that's that's one of the main tenets of how the market works. Voluntary exchange is mutually beneficial. So think about how to make it mutually beneficial, and you'll succeed in making a deal.   Keith Weinhold  37:45 Well, it's been an excellent discussion on Is there any capitalism left, and how would it look like if we turned the course and created more capitalism here in the United States? It's been great having you on the show.   Dr Thomas DiLorenzo  37:58 Thank you.   Keith Weinhold  38:05 Yeah , again, Learn more @mises.org or look up books by Dr Thomas DiLorenzo. His viewpoint is that there are now merely islands of capitalism in a sea of socialism where those conditions were inverted last century. We've got to end the complex between the government and corporations that these watchdogs are basically powerless when the fox is guarding the henhouse. Dr dilorezzo says we could change the Fed charter so that they couldn't buy bonds, which should reduce inflation. So he does offer a way forward there, a solution.  In capitalism, he consumer is king. This is a good thing. You yourself are empowered because you get to vote with your dollars. So therefore what you buy more of society will see and make more of but a prosperous, progressive economy that should be able to produce goods and services that are constantly cheaper because they get more and more efficient to make with innovation, but centrally planned inflation makes them more expensive, at least in dollar denominated terms. So progress should make things cheaper? Well, then everything should take fewer dollars to buy, homes, oil, bananas, grapes, but it doesn't, and it won't anytime soon, like I mentioned in the interview, there single family build times are taking even longer. That's not more efficient, and they're sure not getting cheaper. In fact, the National Association of Home Builders tells us that from permit to completion in 2015 it took 7.2 months to build a single family home. By 2019 it was up to 8.1 months and then. Last year, the time required to build a single family home from permit to completion was 10.1 months. That's not the side of an efficient economy. So basically, therefore, in the last eight, nine years, the time to build a home has gone from 7.2 months up to 10.1 months. That is a drastic increase in a short period of time. Just amazing. And we now have data after covid as well, broken down by region. The longest build time, by the way, is in New England, where it is 13.9 months to build a home from permit to completion. Gosh, such inefficiency. But despite all that stuff that you might find discouraging like that, I want to go out on a good news note here some encouraging sentiment for you, if you champion free markets, then invest in us rental property down the road, there is no centrally controlled ceiling on what you can sell your property for. Most places don't have rent control. In fact, there's been no federal rent control on private property since World War Two. And somewhat ironically, you benefit. You actually benefit from government backed loans at these low fixed rates, and now they're moderate fixed rates. You often get these through Fannie Freddie or the FHA. See you benefit from that particular government backing as a savvy borrower for rental property. And on top of this, you use the GRE inflation triple crown to flip over that not so capitalistic inflationary force. You flip it upside down and use it to your benefit, profiting fantastically from inflation. So you know how to take the situation you're given and use it to your advantage rather than your detriment. Big thanks to Dr Thomas DiLorenzo today, longtime econ professor and current Mises Institute president, more ways to build Real Estate Wealth coming up here for you on the show in future weeks, as always, with the dash of economics and wealth mindset. Until then, I'm your host. Keith Weinhold, Don't Quit Your Daydream.   42:28 Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively,   Keith Weinhold  42:56 The preceding program was brought to you by your home for wealth, building, getricheducation.com.