Podcasts about mises

Dave Smith and Tho Bishop bring you the latest in politics! On this episode of Part Of The Problem. Dave and Tho Bishop from the Mises Institute Discuss the falling chances of governor Ron DeSantis against Donald Trump in the up coming Republican primary. Support Our SponsorsMangoRx - https://www.mangorx.com/ use promo code GAS15 for 15% offPaint Your Life - text the word PROBLEM to 87204Follow the show on social media:Twitter: https://twitter.com/ComicDaveSmithhttps://twitter.com/RobbieTheFirehttps://www.instagram.com/bmackayisrightInstagram: https://www.instagram.com/theproblemdavesmith/https://www.instagram.com/robbiethefire/https://www.instagram.com/bmackayisrightSubscribe On YouTube: https://www.youtube.com/user/DSmithcomicBuy Dave Album : Dave Smith Libertas - https://bit.ly/2Nq5seMDave Smith and Robbie The Fire Bernstein bring you the latest in Politics three times a week, with the promise of bonus episodes! Libertarian Philosophy mixed with a sense of humor, POTP is one of the leading voices in libertarianism.Dave Smith is a New York based stand-up comedian, radio personality, and political commentator. Dave can be seen regularly on “The Greg Gutfeld Show” and “Red Eye” on Fox News, as well as “Kennedy” on Fox Business Network. In 2013 Dave was featured as one of the New Faces at the prestigious Just For Laughs Comedy Festival in Montreal. He was also a featured performer on the New York Comedy Festival's “New York's Funniest” showcase in 2014 and 2015. Dave's outlet for his social commentary is his podcast, “Part of the Problem,” which is available on iTunes. Dave is also co-host of “The Legion of Skanks” podcast, available on the GaS Digital Network.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

David Gornoski is joined by the Mises Institute's Tho Bishop for a conversation on why we need to return to Andrew Jackson's Republicanism, whether there is a Jacksonian answer to the pro-Hamilton New Right, how the American Revolution is different than the French Revolution, how the progressive uniparty system killed the Jacksonian tradition, whether Jackson's history with native Americans places him at odds with modern perception, and more. Check out Tho Bishop's work at the Mises Institute here. Visit A Neighbor's Choice website at aneighborschoice.com

Marty sits down with Dr. Michael Rectenwald to discuss the The Great Reset, stakeholder capitalism, CBDCs, and asserting autonomy against a neo-feudal future. Michael's website: https://www.michaelrectenwald.com/ Michael's Mises presentation: https://www.youtube.com/watch?v=WGg9j-qCNt0 8:07 - Michael's presentation on Great Reset10:29 - Stakeholder capitalism14:15 - ESG leads to corporate rule18:32 - Mock the rulers20:23 - Neo-techno-feudalism while infrastructure breaks24:03 - Refusing CBDCs, Bitcoin and gold27:21 - Bitcoiners at Mises and Bitcoin FUD29:45 - The lies are being noticed32:28 - Control through social credit and social perception36:55 - The letter agencies cause the problems they claim to solve38:04 - Asserting autonomy44:37 - Bank failures will be the CBDC trigger46:42 - Defending against ideological onslaught51:05 - Fighting evil54:20 - Wrapping up, plugs Shoutout to our sponsors: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Unchained⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠River⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠CrowdHealth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Talent Co⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TFTC Merch is Available: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Shop Now⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the TFTC Movement: Main ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YT Channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Clips ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YT Channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow Marty Bent: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Podcast⁠⁠⁠⁠

Dr. Paul Cwik joins Bob to discuss the inverted yield curve's "signal" of an impending recession. Dr. Cwik's dissertation on inverted yield curves and economic downturns: Mises.org/HAP395a Bob on the link between inverted yield curves and recessions: Mises.org/HAP395b Bob's Understanding Money Mechanics: Mises.org/Mechanics

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop talk about recent court cases involving defamation claims, justifying libertarian skepticism of the entire concept. As Ryan noted in a recent Wire article, the Dominion lawsuit in particular, is a particularly chilling case for free speech, with a taxpayer-funded company effectively silencing public critics. This, along with the recent Trump verdict, are an illustration of the continuing escalating weaponization of the court system for political ends. New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug PROMO CODE: RothPod for 20% off Recommended Reading "The Dominion Lawsuit against Fox News is Part of the War against Free Speech" by Ryan McMaken.: Mises.org/RR_133_A "The Alex Jones Verdict Shows the Danger of Defamation Laws" by Ryan McMaken: Mises.org/RR_133_B "Lawsuits Are the Hitman of the State" by Brian Caplan Mises.org/RR_133_C Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Bank reserves are seldom mentioned except in cases of bank runs. The other possible mention is all the interest money the Fed pays to banks simply for holding reserves. Mark explains the role of bank reserves in the current "system" and gives a brief explanation of why the Austrian view is better and actually gets the job done. Be sure to follow Minor Issues at Mises.org/MinorIssues.

Jonathan Newman joins Bob to critique a recent Twitter argument where some were claiming that supercomputers solved the socialist calculation problem. The Twitter thread on AI and Socialism: Mises.org/HAP394a Bob on Socialism and calculation vs knowledge: Mises.org/HAP394b Karras Lambert and Tate Fegley on economic calculation and AI: Mises.org/HAP394c

Jonathan Newman joins Bob to critique a recent Twitter argument where some were claiming that supercomputers solved the socialist calculation problem. The Twitter thread on AI and Socialism: Mises.org/HAP394a Bob on Socialism and calculation vs knowledge: Mises.org/HAP394b Karras Lambert and Tate Fegley on economic calculation and AI: Mises.org/HAP394c

In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the cancellation of Tucker Carlson's Fox News show and the similar treatment of Murray Rothbard by Bill Buckley. What does Tucker's cancelation mean for the growing anti-regime trends on the right, and why do "conservative" gatekeepers prefer the company of the left more than their audience? We look at this and more on this episode of Radio Rothbard. New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug For more on the history of the conservative movement, get your copy of Betrayal of the American Right by Murray Rothbard. Receive 20% off with coupon code RothPod at the Mises Store. Also available as an audiobook. PROMO CODE: RothPod for 20% off Recommended Reading "Murray Rothbard, RIP" by William F. Buckley Jr.: Mises.org/RR_132_A "Frank Meyer's Fusionism and the Search for Consensus Among Conservatives" by Paul Gottfried: Mises.org/RR_132_B "NotCon 3 Video: The Failure of Fusionism" Mises.org/RR_132_C "Why Fox Fired Tucker: BlackRock, Replacement Theory, and the ADL" by Michael Rectenwald Mises.org/RR_132_D "Buckley Revealed" by Murray Rothbard Mises.org/RR_132_E Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the cancellation of Tucker Carlson's Fox News show and the similar treatment of Murray Rothbard by Bill Buckley. What does Tucker's cancelation mean for the growing anti-regime trends on the right, and why do "conservative" gatekeepers prefer the company of the left more than their audience? We look at this and more on this episode of Radio Rothbard. New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug For more on the history of the conservative movement, get your copy of Betrayal of the American Right by Murray Rothbard. Receive 20% off with coupon code RothPod at the Mises Store. Also available as an audiobook. PROMO CODE: RothPod for 20% off Recommended Reading "Murray Rothbard, RIP" by William F. Buckley Jr.: Mises.org/RR_132_A "Frank Meyer's Fusionism and the Search for Consensus Among Conservatives" by Paul Gottfried: Mises.org/RR_132_B "NotCon 3 Video: The Failure of Fusionism" Mises.org/RR_132_C "Why Fox Fired Tucker: BlackRock, Replacement Theory, and the ADL" by Michael Rectenwald Mises.org/RR_132_D "Buckley Revealed" by Murray Rothbard Mises.org/RR_132_E Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Ryan and Zack talk about some of the details from the recently leaked Pentagon documents. They reveal dysfunctional American foreign policy and just how much contempt the US regime has for its own allies. Additional Resources "What the leaked Pentagon documents reveal — 8 key takeaways" by Paul Adams, Jean Mackenzie, and Antoinette Radford (BBC News): Mises.org/WES_10_A "Fact Sheet on U.S. Security Assistance to Ukraine" (U.S. Department of Defense, 19 April 2023): Mises.org/WES_10_B "U.S. doubts Ukraine counteroffensive will yield big gains, leaked document says" by Alex Horton, John Hudson, Isabelle Khurshudyan, and Samuel Oakford (Washington Post): Mises.org/WES_10_C "Arbitrary Use of Power: Punishing Those Who Expose Not-So-Secret Government Secrets" by Bill Anderson: Mises.org/WES_10_D Be sure to follow War, Economy, and State at Mises.org/WES.

Mark discusses something bigger than the Disney layoffs: the Wall Street Journal's April 25 frontpage article on investing in gold. It would seem that the recent rise of the price of gold is the result of tired, dumb, and disillusioned crypto currency investors throwing in the towel to "chase shiny new object—gold." Mark explains that the rational reasons for investing in gold loom larger than the entire Magic Kingdom! Be sure to follow Minor Issues at Mises.org/MinorIssues.

Are NASA contracts propping up the private space industry? Or are Government regulations stifling the private space race? Dr. Eli Dourado, Senior Research Fellow with the Center for Growth and Opportunity at Utah State University, joins Bob to discuss the recent "successful failure" of the exploded SpaceX launch and the differences between government and privately funded space travel. Dr. Dourado on NASA contracting private companies to build their shuttles: Mises.org/HAP393a Dr. Dourado on the Artemis moon program: Mises.org/HAP393b

Are NASA contracts propping up the private space industry? Or are Government regulations stifling the private space race? Dr. Eli Dourado, Senior Research Fellow with the Center for Growth and Opportunity at Utah State University, joins Bob to discuss the recent "successful failure" of the exploded SpaceX launch and the differences between government and privately funded space travel. Dr. Dourado on NASA contracting private companies to build their shuttles: Mises.org/HAP393a Dr. Dourado on the Artemis moon program: Mises.org/HAP393b

Are NASA contracts propping up the private space industry? Or are Government regulations stifling the private space race? Dr. Eli Dourado, Senior Research Fellow with the Center for Growth and Opportunity at Utah State University, joins Bob to discuss the recent "successful failure" of the exploded SpaceX launch and the differences between government and privately funded space travel. Dr. Dourado on NASA contracting private companies to build their shuttles: Mises.org/HAP393a Dr. Dourado on the Artemis moon program: Mises.org/HAP393b

Ryan McMaken and Dr. Mark Thornton cover the state of the dollar as global reserve currency, and why employers are laying off more and more of their highest paid workers. PROMO CODE: RothPod for 20% off Subscribe to Mark's weekly Minor Issues podcast at Mises.org/MinorIssues. Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Ryan McMaken and Dr. Mark Thornton cover the state of the dollar as global reserve currency, and why employers are laying off more and more of their highest paid workers. PROMO CODE: RothPod for 20% off Subscribe to Mark's weekly Minor Issues podcast at Mises.org/MinorIssues. Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Mark looks at the price of Apple stock—one of the best performing stocks over the last quarter century, and one of the largest holdings in stock indexes, mutual funds, and Berkshire Hathaway portfolio. Market watchers have kept a keen eye on Apple as it heads for a new all-time high; but, Mark is concerned that a downturn would have a huge ripple effect on the overall market—possibly equivalent to a tsunami. Be sure to follow Minor Issues at Mises.org/MinorIssues.

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at common American history myths baked into government school curricula. While Republican governors have begun to prioritize removing "critical race theory" and other forms of modern "leftwing indoctrination" from textbooks, there are a number of historical episodes left unchallenged that all lead to a deification of state power and a celebration of progressive politics. PROMO CODE: RothPod for 20% off Recommended Reading "The Meat Packing Myth" by Murray Rothbard: Mises.org/RR_130_A "Krugman's Hoover History" by Robert Murphy: Mises.org/RR_130_B "Why the 1787 Constitution Did Not Bring Republican Government to America" Mises.org/RR_130_C The Progressive Era by Murray Rothbard Mises.org/RR_130_D Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at common American history myths baked into government school curricula. While Republican governors have begun to prioritize removing "critical race theory" and other forms of modern "leftwing indoctrination" from textbooks, there are a number of historical episodes left unchallenged that all lead to a deification of state power and a celebration of progressive politics. PROMO CODE: RothPod for 20% off Recommended Reading "The Meat Packing Myth" by Murray Rothbard: Mises.org/RR_130_A "Krugman's Hoover History" by Robert Murphy: Mises.org/RR_130_B "Why the 1787 Constitution Did Not Bring Republican Government to America" Mises.org/RR_130_C The Progressive Era by Murray Rothbard Mises.org/RR_130_D Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Austrian economics recognizes change as a constant and provides guidance for adapting to it and managing it. Change is changing for business — it's faster and more fundamental in the digital age. Austrian economics can help even more as a result of its practical and realist approach to adaptation and continuous adjustment. Knowledge Capsule Change is changing. Change is a constant. You can think of the market in constant flux, as Mises did, You can think in terms of VUCA — volatility, uncertainty, complexity, and ambiguity. You can think of it in terms of complexity or of absolute uncertainty. However you tune your mind and your business processes, there are always going to be more things that can happen than you can predict or prepare for. There are some ways to think better about ceaseless change, however. One is to bucket the major themes or corridors of change, to organize your thinking and make some judgments about where and how to act and adapt. By recognizing these multiple types of change, businesses will be better prepared for adaptive action. Our E4B guest Phil Simon has studied change in the workplace and recently published a new book titled The Nine — about nine tectonic forces that are reshaping business and the workplace where we conduct business. He advises businesses to be alert to the changing nature of change in the digital age. People are changing. The people you hire today and the people already working at your firm are not the same people as they were just a couple of years ago. They've been through a new, different and challenging experience of working through the Covid-19 pandemic, and they've been working with new technologies, in new places (i.e., working remotely) and they've been questioning how they relate to work, to their colleagues, and to the firm. Don't expect them to be unchanged in their mindsets, attitudes, and work practices. The nature of the employment relationship is different today — less formal, less rigid, less standardized. Phil Simon uses the term “empowered employees” — employers must be empathic in understanding their new mental model as it relates to work. The workplace is changing. The workplace is no longer a physical space where people congregate to collaborate on work tasks, but a digital space of networked people, machines and software. New software and new machines are evolving all the time in this space, changing our relationship to it and to work. People are not going to go back to the office as the standard method of getting business done. If you want to have a physical space for people to meet in person, it must be reconfigured to support those business activities that can only be done in person, and not just as a standard structure of cubicles, offices and wiring. People must feel that there is more or better productivity to be enjoyed in the physical shared space than can be realized elsewhere. The structure of work is changing. Phil's book includes a section on fractions: the idea that firms no longer need full-time access to a necessary business skill — like finance and accounting — via contracting with individuals for 100% of their worktime. New organizational models are emerging that utilize fractional access to these skills as needed. There are fractional CFOs and CMOs and CTOs. There are highly qualified experts available via sharing platforms; they can be both the best at what they do and the best fit for your firm's need, available for a percentage of their time, not all of it. This thinking about fractional talent and skill utilization is becoming a more integral part of organizational thinking. Automation is universally available. Some level of automation is coming to every workplace. It's approaching with greater speed and intensity today. It's best to think of automation in terms of outcomes: what needs to get done and can it be done in a more automated fashion? What needs to be produced (Phil cites automated pizza making machines)? What processes are taking up people's time (Phil cites automation in payment systems)? What jobs can be totally automated (e.g., driving trucks)? What departmental functions can be fully automated (like content moderation at Twitter)? All businesses should be reviewing all their activities at all these levels and asking where automation can eliminate waste, save time and release resources for greater productivity. Whether it's as simple as calendaring software or as complex as robotic process automation, it's right to examine every opportunity and find an automated solution. A.I. Is going to help. The rapid adoption of ChatGPT has opened many eyes to the possibilities of getting smart assistance to change and improve the way work is done. ChatGPT can help develop content, make plans, find data, write code, make summaries of libraries of documents, and assist in many many more tasks — as exhibited by the many ChatGPT threads on twitter that are full of new ideas. The great breakthrough of ChatGPT lies in making available the vast majority of available knowledge on virtually all topics in a convenient, conversational way. Businesses are the results of their accumulated, shared and applied knowledge. ChatGPT and similar AI's amplify knowledge and accelerate learning. Businesses that don't utilize this availability will fall behind their competitors. There will be new software environments. Software and platforms are two parts of the work environment that are changing fast. Whether we work on Zoom or Slack or Teams or Github or Salesforce, we continuously encounter new upgrades and functions as well as new alternatives. There is no alternative to earning the skills to utilize these tools to their greatest productive effect, and to keep our learning updated. One economic function that is not improving amidst content change is trust. We can't be sure, sometimes, about the other party we're talking to or collaborating with, we can't be sure of trusting data, we can't be sure that our privacy and property rights are protected. Phil made the prediction that blockchain, as a secure record of all transactions and un-hackable repository of data and information, will play a bigger role in our business future as an arbiter of trust. For example, this may be where our individual health records might reside, which individuals would own, and which they could share and use for their own benefit in navigating the regulated opacity of the healthcare system. Subjectivism and empathy will always play important roles. Phil made a reference to “unhealthy analytics”. His point was that we are now in a position to measure more and more human action and human behavior, but that measurement does not necessarily provide insight, and may even give rise to perverse incentives. For example, it's possible to measure when employees checked in to the office and when they left, but it's not equally possible to monitor their productivity or motivation. It's possible to measure the number of hours they spend on Zoom, but a different problem to measure their remote contributions. Analytics have their place, but understanding and empathizing with employees, and carefully constructing their mental models in order to be able to appeal to them and stimulate them, remain subjective, emotionally-based skills which are still a critical component of management. Steer into the skid. How do founders, owners, and managers deal with these changes? Phil's expression is to steer into the skid. Reimagine work, embrace the powerful new technologies that are available, and be willing to experiment — perhaps in ways that others aren't — to generate the active learning that moves organizations forward. It might be messy, and even feel chaotic, but it's the right response to tectonic change. Expect some turbulence, while being open to infinite new possibilities. Additional Resources The Nine: The Tectonic Forces Reshaping the Workplace by Phil Simon: Mises.org/E4B_215_Book PhilSimon.com — Expertise on workplace collaboration and technology Phil Simon on LinkedIn: Mises.org/E4B_215_LinkedIn

Ryan and Zachary talk about how wars are not nearly as cheap or economically harmless as many Americans seem to think. Rather, taxpayers must give up enormous amounts of resources to fund wars halfway across the globe that have little to do with actual defense. Americans are still paying interest on the trillions spent on Washington's many lost wars of recent decades. Additional Resources "On Paying for the Costs of War and War Loans" by Ludwig von Mises (1918): Mises.org/WES_09_A "The Cross of Iron" by Dwight D. Eisenhower (1953): Mises.org/WES_09_B "Fact Sheet on U.S. Security Assistance to Ukraine" (U.S. Department of Defense, 4 April 2023): Mises.org/WES_09_C "How the Fed Is Enabling Congress's Trillion-Dollar Deficits" by Ryan McMaken (2021): Mises.org/WES_09_D "War and the Money Machine: Concealing the Costs of War beneath the Veil of Inflation" by Joseph T. Salerno (2021): Mises.org/WES_09_E "As the Pentagon Fails Another Audit, Congress Wants to Spend Even More on 'Defense'" by Ryan McMaken (2022): Mises.org/WES_09_F "Russia and Ukraine named as Europe's most corrupt countries" by William Nattrass (3 February 2023): Mises.org/WES_09_G Be sure to follow War, Economy, and State at Mises.org/WES.

Austrian economics recognizes change as a constant and provides guidance for adapting to it and managing it. Change is changing for business — it's faster and more fundamental in the digital age. Austrian economics can help even more as a result of its practical and realist approach to adaptation and continuous adjustment. Knowledge Capsule Change is changing. Change is a constant. You can think of the market in constant flux, as Mises did, You can think in terms of VUCA — volatility, uncertainty, complexity, and ambiguity. You can think of it in terms of complexity or of absolute uncertainty. However you tune your mind and your business processes, there are always going to be more things that can happen than you can predict or prepare for. There are some ways to think better about ceaseless change, however. One is to bucket the major themes or corridors of change, to organize your thinking and make some judgments about where and how to act and adapt. By recognizing these multiple types of change, businesses will be better prepared for adaptive action. Our E4B guest Phil Simon has studied change in the workplace and recently published a new book titled The Nine — about nine tectonic forces that are reshaping business and the workplace where we conduct business. He advises businesses to be alert to the changing nature of change in the digital age. People are changing. The people you hire today and the people already working at your firm are not the same people as they were just a couple of years ago. They've been through a new, different and challenging experience of working through the Covid-19 pandemic, and they've been working with new technologies, in new places (i.e., working remotely) and they've been questioning how they relate to work, to their colleagues, and to the firm. Don't expect them to be unchanged in their mindsets, attitudes, and work practices. The nature of the employment relationship is different today — less formal, less rigid, less standardized. Phil Simon uses the term “empowered employees” — employers must be empathic in understanding their new mental model as it relates to work. The workplace is changing. The workplace is no longer a physical space where people congregate to collaborate on work tasks, but a digital space of networked people, machines and software. New software and new machines are evolving all the time in this space, changing our relationship to it and to work. People are not going to go back to the office as the standard method of getting business done. If you want to have a physical space for people to meet in person, it must be reconfigured to support those business activities that can only be done in person, and not just as a standard structure of cubicles, offices and wiring. People must feel that there is more or better productivity to be enjoyed in the physical shared space than can be realized elsewhere. The structure of work is changing. Phil's book includes a section on fractions: the idea that firms no longer need full-time access to a necessary business skill — like finance and accounting — via contracting with individuals for 100% of their worktime. New organizational models are emerging that utilize fractional access to these skills as needed. There are fractional CFOs and CMOs and CTOs. There are highly qualified experts available via sharing platforms; they can be both the best at what they do and the best fit for your firm's need, available for a percentage of their time, not all of it. This thinking about fractional talent and skill utilization is becoming a more integral part of organizational thinking. Automation is universally available. Some level of automation is coming to every workplace. It's approaching with greater speed and intensity today. It's best to think of automation in terms of outcomes: what needs to get done and can it be done in a more automated fashion? What needs to be produced (Phil cites automated pizza making machines)? What processes are taking up people's time (Phil cites automation in payment systems)? What jobs can be totally automated (e.g., driving trucks)? What departmental functions can be fully automated (like content moderation at Twitter)? All businesses should be reviewing all their activities at all these levels and asking where automation can eliminate waste, save time and release resources for greater productivity. Whether it's as simple as calendaring software or as complex as robotic process automation, it's right to examine every opportunity and find an automated solution. A.I. Is going to help. The rapid adoption of ChatGPT has opened many eyes to the possibilities of getting smart assistance to change and improve the way work is done. ChatGPT can help develop content, make plans, find data, write code, make summaries of libraries of documents, and assist in many many more tasks — as exhibited by the many ChatGPT threads on twitter that are full of new ideas. The great breakthrough of ChatGPT lies in making available the vast majority of available knowledge on virtually all topics in a convenient, conversational way. Businesses are the results of their accumulated, shared and applied knowledge. ChatGPT and similar AI's amplify knowledge and accelerate learning. Businesses that don't utilize this availability will fall behind their competitors. There will be new software environments. Software and platforms are two parts of the work environment that are changing fast. Whether we work on Zoom or Slack or Teams or Github or Salesforce, we continuously encounter new upgrades and functions as well as new alternatives. There is no alternative to earning the skills to utilize these tools to their greatest productive effect, and to keep our learning updated. One economic function that is not improving amidst content change is trust. We can't be sure, sometimes, about the other party we're talking to or collaborating with, we can't be sure of trusting data, we can't be sure that our privacy and property rights are protected. Phil made the prediction that blockchain, as a secure record of all transactions and un-hackable repository of data and information, will play a bigger role in our business future as an arbiter of trust. For example, this may be where our individual health records might reside, which individuals would own, and which they could share and use for their own benefit in navigating the regulated opacity of the healthcare system. Subjectivism and empathy will always play important roles. Phil made a reference to “unhealthy analytics”. His point was that we are now in a position to measure more and more human action and human behavior, but that measurement does not necessarily provide insight, and may even give rise to perverse incentives. For example, it's possible to measure when employees checked in to the office and when they left, but it's not equally possible to monitor their productivity or motivation. It's possible to measure the number of hours they spend on Zoom, but a different problem to measure their remote contributions. Analytics have their place, but understanding and empathizing with employees, and carefully constructing their mental models in order to be able to appeal to them and stimulate them, remain subjective, emotionally-based skills which are still a critical component of management. Steer into the skid. How do founders, owners, and managers deal with these changes? Phil's expression is to steer into the skid. Reimagine work, embrace the powerful new technologies that are available, and be willing to experiment — perhaps in ways that others aren't — to generate the active learning that moves organizations forward. It might be messy, and even feel chaotic, but it's the right response to tectonic change. Expect some turbulence, while being open to infinite new possibilities. Additional Resources The Nine: The Tectonic Forces Reshaping the Workplace by Phil Simon: Mises.org/E4B_215_Book PhilSimon.com — Expertise on workplace collaboration and technology Phil Simon on LinkedIn: Mises.org/E4B_215_LinkedIn

Austrian economics recognizes change as a constant and provides guidance for adapting to it and managing it. Change is changing for business — it's faster and more fundamental in the digital age. Austrian economics can help even more as a result of its practical and realist approach to adaptation and continuous adjustment. Knowledge Capsule Change is changing. Change is a constant. You can think of the market in constant flux, as Mises did, You can think in terms of VUCA — volatility, uncertainty, complexity, and ambiguity. You can think of it in terms of complexity or of absolute uncertainty. However you tune your mind and your business processes, there are always going to be more things that can happen than you can predict or prepare for. There are some ways to think better about ceaseless change, however. One is to bucket the major themes or corridors of change, to organize your thinking and make some judgments about where and how to act and adapt. By recognizing these multiple types of change, businesses will be better prepared for adaptive action. Our E4B guest Phil Simon has studied change in the workplace and recently published a new book titled The Nine — about nine tectonic forces that are reshaping business and the workplace where we conduct business. He advises businesses to be alert to the changing nature of change in the digital age. People are changing. The people you hire today and the people already working at your firm are not the same people as they were just a couple of years ago. They've been through a new, different and challenging experience of working through the Covid-19 pandemic, and they've been working with new technologies, in new places (i.e., working remotely) and they've been questioning how they relate to work, to their colleagues, and to the firm. Don't expect them to be unchanged in their mindsets, attitudes, and work practices. The nature of the employment relationship is different today — less formal, less rigid, less standardized. Phil Simon uses the term “empowered employees” — employers must be empathic in understanding their new mental model as it relates to work. The workplace is changing. The workplace is no longer a physical space where people congregate to collaborate on work tasks, but a digital space of networked people, machines and software. New software and new machines are evolving all the time in this space, changing our relationship to it and to work. People are not going to go back to the office as the standard method of getting business done. If you want to have a physical space for people to meet in person, it must be reconfigured to support those business activities that can only be done in person, and not just as a standard structure of cubicles, offices and wiring. People must feel that there is more or better productivity to be enjoyed in the physical shared space than can be realized elsewhere. The structure of work is changing. Phil's book includes a section on fractions: the idea that firms no longer need full-time access to a necessary business skill — like finance and accounting — via contracting with individuals for 100% of their worktime. New organizational models are emerging that utilize fractional access to these skills as needed. There are fractional CFOs and CMOs and CTOs. There are highly qualified experts available via sharing platforms; they can be both the best at what they do and the best fit for your firm's need, available for a percentage of their time, not all of it. This thinking about fractional talent and skill utilization is becoming a more integral part of organizational thinking. Automation is universally available. Some level of automation is coming to every workplace. It's approaching with greater speed and intensity today. It's best to think of automation in terms of outcomes: what needs to get done and can it be done in a more automated fashion? What needs to be produced (Phil cites automated pizza making machines)? What processes are taking up people's time (Phil cites automation in payment systems)? What jobs can be totally automated (e.g., driving trucks)? What departmental functions can be fully automated (like content moderation at Twitter)? All businesses should be reviewing all their activities at all these levels and asking where automation can eliminate waste, save time and release resources for greater productivity. Whether it's as simple as calendaring software or as complex as robotic process automation, it's right to examine every opportunity and find an automated solution. A.I. Is going to help. The rapid adoption of ChatGPT has opened many eyes to the possibilities of getting smart assistance to change and improve the way work is done. ChatGPT can help develop content, make plans, find data, write code, make summaries of libraries of documents, and assist in many many more tasks — as exhibited by the many ChatGPT threads on twitter that are full of new ideas. The great breakthrough of ChatGPT lies in making available the vast majority of available knowledge on virtually all topics in a convenient, conversational way. Businesses are the results of their accumulated, shared and applied knowledge. ChatGPT and similar AI's amplify knowledge and accelerate learning. Businesses that don't utilize this availability will fall behind their competitors. There will be new software environments. Software and platforms are two parts of the work environment that are changing fast. Whether we work on Zoom or Slack or Teams or Github or Salesforce, we continuously encounter new upgrades and functions as well as new alternatives. There is no alternative to earning the skills to utilize these tools to their greatest productive effect, and to keep our learning updated. One economic function that is not improving amidst content change is trust. We can't be sure, sometimes, about the other party we're talking to or collaborating with, we can't be sure of trusting data, we can't be sure that our privacy and property rights are protected. Phil made the prediction that blockchain, as a secure record of all transactions and un-hackable repository of data and information, will play a bigger role in our business future as an arbiter of trust. For example, this may be where our individual health records might reside, which individuals would own, and which they could share and use for their own benefit in navigating the regulated opacity of the healthcare system. Subjectivism and empathy will always play important roles. Phil made a reference to “unhealthy analytics”. His point was that we are now in a position to measure more and more human action and human behavior, but that measurement does not necessarily provide insight, and may even give rise to perverse incentives. For example, it's possible to measure when employees checked in to the office and when they left, but it's not equally possible to monitor their productivity or motivation. It's possible to measure the number of hours they spend on Zoom, but a different problem to measure their remote contributions. Analytics have their place, but understanding and empathizing with employees, and carefully constructing their mental models in order to be able to appeal to them and stimulate them, remain subjective, emotionally-based skills which are still a critical component of management. Steer into the skid. How do founders, owners, and managers deal with these changes? Phil's expression is to steer into the skid. Reimagine work, embrace the powerful new technologies that are available, and be willing to experiment — perhaps in ways that others aren't — to generate the active learning that moves organizations forward. It might be messy, and even feel chaotic, but it's the right response to tectonic change. Expect some turbulence, while being open to infinite new possibilities. Additional Resources The Nine: The Tectonic Forces Reshaping the Workplace by Phil Simon: Mises.org/E4B_215_Book PhilSimon.com — Expertise on workplace collaboration and technology Phil Simon on LinkedIn: Mises.org/E4B_215_LinkedIn

Mark takes a look at the good news on price inflation and why it is better than reported, but probably short-lived. Other statistics are worsening and, amazingly, even landlords are starting to feel the pain! Be sure to follow Minor Issues at Mises.org/MinorIssues.

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss recent reveals about new lows for the FBI. Ryan discusses new reports about the targeting of traditional Catholic churches and the history of the American Stasi, while Tho highlights new evidence about the role of federal agents in escalating January 6. Recommended Reading "The FBI's Forgotten Criminal Record" by Jim Bovard: Mises.org/RR_129_A "Abolish the FBI" by Ryan McMaken: Mises.org/RR_129_B Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Jonathan Newman joins Bob to dissect Paul Krugman's latest NYT op-ed, in which he derides Ron DeSantis as paranoid for thinking a central bank digital currency (CBDC) could be used to control citizens. Krugman's op-ed in the New York Times: Mises.org/HAP391a Bob breaking down negative interest rates: Mises.org/HAP391b

Jonathan Newman joins Bob to dissect Paul Krugman's latest NYT op-ed, in which he derides Ron DeSantis as paranoid for thinking a central bank digital currency (CBDC) could be used to control citizens. Krugman's op-ed in the New York Times: Mises.org/HAP391a Bob breaking down negative interest rates: Mises.org/HAP391b

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss recent reveals about new lows for the FBI. Ryan discusses new reports about the targeting of traditional Catholic churches and the history of the American Stasi, while Tho highlights new evidence about the role of federal agents in escalating January 6. Recommended Reading "The FBI's Forgotten Criminal Record" by Jim Bovard: Mises.org/RR_129_A "Abolish the FBI" by Ryan McMaken: Mises.org/RR_129_B Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Jonathan Newman joins Bob to dissect Paul Krugman's latest NYT op-ed, in which he derides Ron DeSantis as paranoid for thinking a central bank digital currency (CBDC) could be used to control citizens. Krugman's op-ed in the New York Times: Mises.org/HAP391a Bob breaking down negative interest rates: Mises.org/HAP391b

Entrepreneurship is well-defined in economics, and well-recognized as the engine that drives economic growth. That means people enjoying greater well-being, including but not limited to material prosperity. But economic growth can be uneven. Some countries, some regions, and even some firms do not generate the same levels of economic growth as others. How do we understand this variability? We look for what holds entrepreneurship back. Knowledge Capsule Economic development can be a self-reinforcing cycle of continuous improvement in people's circumstances. Greater material prosperity is a valid and worthwhile goal for economic development. But, says Shawn Ritenour, economic development goes beyond that goal: it delivers a greater variety of goods and services that individuals and businesses can use as means to achieve their own diverse ends. The production of this greater variety requires entrepreneurship in the creation of new ideas and the pursuit of new value, and it generates new entrepreneurship by supplying a greater variety of resources to work with in those pursuits. To generate this cycle, an enabling environment is required — one that acts as a catalyst for entrepreneurship. Economic development is a multifaceted process in which several forms of human action combine in a system for economic prosperity. It's not instructive to try to isolate financial capital or capital goods or technology or even human capital, and culture and social institutions can't be ignored. These sources of prosperity must work together in an orderly fashion to generate the necessary synthesis. The vital role is that of the entrepreneur. The entrepreneur is the one who undertakes production, the one who combines resources to produce a product that meets customers' needs and enables those customers in their own economic pursuits. Entrepreneurs kick off the cycle. Firms and organizations can act entrepreneurially, but it's fundamental to understand that individuals — sometimes working in teams or committees — are the ones behind entrepreneurial decision-making. The entrepreneur is not necessarily a single person, but entrepreneurship is always a human action. How do we get entrepreneurship started? Entrepreneurship requires customer knowledge, technical knowledge and financial capital. Customer knowledge includes the empathic understanding of what's needed for customers to be able to better meet their own needs. In the context of economic development, this knowledge is probably widely available to private entrepreneurs, but it may not be available to governments, whose understanding is distorted by predispositions to develop specific industries or subsidize specific economic sectors, or towards a particular technology. For these reasons, there can be no “entrepreneurial state”. Individuals with their own ideas and their own private property will provide the energy o break economic inertia. Technical knowledge defines a sufficient understanding of the technology and technological resources to deliver the desired new value to the customer. In under-developed economies, this technical knowledge may be thin, so reinforcing the technical knowledge of entrepreneurs is appropriate, through education, injections of new technology, training, mentoring, or other forms of knowledge transfer. With the right understanding of customer needs and the command of the right technology, the entrepreneurs involved in the development state will always need financial capital, because production takes time to organize before cash flows in to the firm from customers. In development contexts, entrepreneurs often will not have savings of their own, and there may not be an appropriate institutional infrastructure of local banks and lenders and investors. Therefore, customer knowledge, technical knowledge and financial capital combine to provide the foundation for entrepreneurial leadership and growth. They're integrated: it's important for the sources of financial capital to understand and appreciate the nature of the customer and technical knowledge that is being deployed. Typically, this takes the form of venture capital or private equity. Education is another important element in the institutional environment for entrepreneurship. Entrepreneurship as a skill or capability can not be taught — it requires a special orientation that's more developed in some individuals and firms than others. But principles, process and tools can be taught, and experienced entrepreneurs and businesspeople who have developed market savvy can share knowledge that they have acquired. Communicating the entrepreneurial mindset and methods in all stages of education will help to create and promote an entrepreneurial community that's supportive of economic development. One aspect of learning is to understand the entrepreneurial ethic of sacrifice, that it takes a lot of time and effort and expenditures and extended commitment before business success can be achieved. There's more hard work than there is magic. Institutional elements such as property rights and sound money are important components of entrepreneurial development. Property rights and sound money may sound like abstract concepts, but they are extremely influential in economic development processes. Property rights mean that entrepreneurs can assemble and go to market with their own resources in whatever way they prefer. Sound money means that entrepreneurs can anticipate a return from their productive activities that's not eroded away by inflation, and they're not led into miscalculation by monetary manipulation (e.g., unanticipated escalation of future borrowing costs). Removing obstacles to entrepreneurship is the best economic development policy. Traditional approaches to economic development favor centrally planned initiatives, government spending, and policies in the form of subsidies or special incentives. They're not typically market-based approaches. But the right approach is the opposite of policy-making. Instead of trying to design and add new structures, development should be focused on the removal of barriers — on identifying what's getting in the way of nurturing a rich and robust entrepreneurial culture, and focusing on the removal of those obstacles. Leave the entrepreneurs to identify the specific products and services and businesses that can flourish, and to attract the investment capital that will support those businesses, without the need for “policy”. Additional Resources The Economics of Prosperity: Rethinking Economic Growth And Development by Shawn Ritenour: Mises.org/E4B_214_Book1 The Economics Of Prosperity (Edward Elgar): Mises.org/E4B_214_Book2 Shawn Ritenour at Mises.org/Ritenour Shawn Ritenour at Grove City College: Mises.org/E4B_214_Profile

Entrepreneurship is well-defined in economics, and well-recognized as the engine that drives economic growth. That means people enjoying greater well-being, including but not limited to material prosperity. But economic growth can be uneven. Some countries, some regions, and even some firms do not generate the same levels of economic growth as others. How do we understand this variability? We look for what holds entrepreneurship back. Knowledge Capsule Economic development can be a self-reinforcing cycle of continuous improvement in people's circumstances. Greater material prosperity is a valid and worthwhile goal for economic development. But, says Shawn Ritenour, economic development goes beyond that goal: it delivers a greater variety of goods and services that individuals and businesses can use as means to achieve their own diverse ends. The production of this greater variety requires entrepreneurship in the creation of new ideas and the pursuit of new value, and it generates new entrepreneurship by supplying a greater variety of resources to work with in those pursuits. To generate this cycle, an enabling environment is required — one that acts as a catalyst for entrepreneurship. Economic development is a multifaceted process in which several forms of human action combine in a system for economic prosperity. It's not instructive to try to isolate financial capital or capital goods or technology or even human capital, and culture and social institutions can't be ignored. These sources of prosperity must work together in an orderly fashion to generate the necessary synthesis. The vital role is that of the entrepreneur. The entrepreneur is the one who undertakes production, the one who combines resources to produce a product that meets customers' needs and enables those customers in their own economic pursuits. Entrepreneurs kick off the cycle. Firms and organizations can act entrepreneurially, but it's fundamental to understand that individuals — sometimes working in teams or committees — are the ones behind entrepreneurial decision-making. The entrepreneur is not necessarily a single person, but entrepreneurship is always a human action. How do we get entrepreneurship started? Entrepreneurship requires customer knowledge, technical knowledge and financial capital. Customer knowledge includes the empathic understanding of what's needed for customers to be able to better meet their own needs. In the context of economic development, this knowledge is probably widely available to private entrepreneurs, but it may not be available to governments, whose understanding is distorted by predispositions to develop specific industries or subsidize specific economic sectors, or towards a particular technology. For these reasons, there can be no “entrepreneurial state”. Individuals with their own ideas and their own private property will provide the energy o break economic inertia. Technical knowledge defines a sufficient understanding of the technology and technological resources to deliver the desired new value to the customer. In under-developed economies, this technical knowledge may be thin, so reinforcing the technical knowledge of entrepreneurs is appropriate, through education, injections of new technology, training, mentoring, or other forms of knowledge transfer. With the right understanding of customer needs and the command of the right technology, the entrepreneurs involved in the development state will always need financial capital, because production takes time to organize before cash flows in to the firm from customers. In development contexts, entrepreneurs often will not have savings of their own, and there may not be an appropriate institutional infrastructure of local banks and lenders and investors. Therefore, customer knowledge, technical knowledge and financial capital combine to provide the foundation for entrepreneurial leadership and growth. They're integrated: it's important for the sources of financial capital to understand and appreciate the nature of the customer and technical knowledge that is being deployed. Typically, this takes the form of venture capital or private equity. Education is another important element in the institutional environment for entrepreneurship. Entrepreneurship as a skill or capability can not be taught — it requires a special orientation that's more developed in some individuals and firms than others. But principles, process and tools can be taught, and experienced entrepreneurs and businesspeople who have developed market savvy can share knowledge that they have acquired. Communicating the entrepreneurial mindset and methods in all stages of education will help to create and promote an entrepreneurial community that's supportive of economic development. One aspect of learning is to understand the entrepreneurial ethic of sacrifice, that it takes a lot of time and effort and expenditures and extended commitment before business success can be achieved. There's more hard work than there is magic. Institutional elements such as property rights and sound money are important components of entrepreneurial development. Property rights and sound money may sound like abstract concepts, but they are extremely influential in economic development processes. Property rights mean that entrepreneurs can assemble and go to market with their own resources in whatever way they prefer. Sound money means that entrepreneurs can anticipate a return from their productive activities that's not eroded away by inflation, and they're not led into miscalculation by monetary manipulation (e.g., unanticipated escalation of future borrowing costs). Removing obstacles to entrepreneurship is the best economic development policy. Traditional approaches to economic development favor centrally planned initiatives, government spending, and policies in the form of subsidies or special incentives. They're not typically market-based approaches. But the right approach is the opposite of policy-making. Instead of trying to design and add new structures, development should be focused on the removal of barriers — on identifying what's getting in the way of nurturing a rich and robust entrepreneurial culture, and focusing on the removal of those obstacles. Leave the entrepreneurs to identify the specific products and services and businesses that can flourish, and to attract the investment capital that will support those businesses, without the need for “policy”. Additional Resources The Economics of Prosperity: Rethinking Economic Growth And Development by Shawn Ritenour: Mises.org/E4B_214_Book1 The Economics Of Prosperity (Edward Elgar): Mises.org/E4B_214_Book2 Shawn Ritenour at Mises.org/Ritenour Shawn Ritenour at Grove City College: Mises.org/E4B_214_Profile

Entrepreneurship is well-defined in economics, and well-recognized as the engine that drives economic growth. That means people enjoying greater well-being, including but not limited to material prosperity. But economic growth can be uneven. Some countries, some regions, and even some firms do not generate the same levels of economic growth as others. How do we understand this variability? We look for what holds entrepreneurship back. Knowledge Capsule Economic development can be a self-reinforcing cycle of continuous improvement in people's circumstances. Greater material prosperity is a valid and worthwhile goal for economic development. But, says Shawn Ritenour, economic development goes beyond that goal: it delivers a greater variety of goods and services that individuals and businesses can use as means to achieve their own diverse ends. The production of this greater variety requires entrepreneurship in the creation of new ideas and the pursuit of new value, and it generates new entrepreneurship by supplying a greater variety of resources to work with in those pursuits. To generate this cycle, an enabling environment is required — one that acts as a catalyst for entrepreneurship. Economic development is a multifaceted process in which several forms of human action combine in a system for economic prosperity. It's not instructive to try to isolate financial capital or capital goods or technology or even human capital, and culture and social institutions can't be ignored. These sources of prosperity must work together in an orderly fashion to generate the necessary synthesis. The vital role is that of the entrepreneur. The entrepreneur is the one who undertakes production, the one who combines resources to produce a product that meets customers' needs and enables those customers in their own economic pursuits. Entrepreneurs kick off the cycle. Firms and organizations can act entrepreneurially, but it's fundamental to understand that individuals — sometimes working in teams or committees — are the ones behind entrepreneurial decision-making. The entrepreneur is not necessarily a single person, but entrepreneurship is always a human action. How do we get entrepreneurship started? Entrepreneurship requires customer knowledge, technical knowledge and financial capital. Customer knowledge includes the empathic understanding of what's needed for customers to be able to better meet their own needs. In the context of economic development, this knowledge is probably widely available to private entrepreneurs, but it may not be available to governments, whose understanding is distorted by predispositions to develop specific industries or subsidize specific economic sectors, or towards a particular technology. For these reasons, there can be no “entrepreneurial state”. Individuals with their own ideas and their own private property will provide the energy o break economic inertia. Technical knowledge defines a sufficient understanding of the technology and technological resources to deliver the desired new value to the customer. In under-developed economies, this technical knowledge may be thin, so reinforcing the technical knowledge of entrepreneurs is appropriate, through education, injections of new technology, training, mentoring, or other forms of knowledge transfer. With the right understanding of customer needs and the command of the right technology, the entrepreneurs involved in the development state will always need financial capital, because production takes time to organize before cash flows in to the firm from customers. In development contexts, entrepreneurs often will not have savings of their own, and there may not be an appropriate institutional infrastructure of local banks and lenders and investors. Therefore, customer knowledge, technical knowledge and financial capital combine to provide the foundation for entrepreneurial leadership and growth. They're integrated: it's important for the sources of financial capital to understand and appreciate the nature of the customer and technical knowledge that is being deployed. Typically, this takes the form of venture capital or private equity. Education is another important element in the institutional environment for entrepreneurship. Entrepreneurship as a skill or capability can not be taught — it requires a special orientation that's more developed in some individuals and firms than others. But principles, process and tools can be taught, and experienced entrepreneurs and businesspeople who have developed market savvy can share knowledge that they have acquired. Communicating the entrepreneurial mindset and methods in all stages of education will help to create and promote an entrepreneurial community that's supportive of economic development. One aspect of learning is to understand the entrepreneurial ethic of sacrifice, that it takes a lot of time and effort and expenditures and extended commitment before business success can be achieved. There's more hard work than there is magic. Institutional elements such as property rights and sound money are important components of entrepreneurial development. Property rights and sound money may sound like abstract concepts, but they are extremely influential in economic development processes. Property rights mean that entrepreneurs can assemble and go to market with their own resources in whatever way they prefer. Sound money means that entrepreneurs can anticipate a return from their productive activities that's not eroded away by inflation, and they're not led into miscalculation by monetary manipulation (e.g., unanticipated escalation of future borrowing costs). Removing obstacles to entrepreneurship is the best economic development policy. Traditional approaches to economic development favor centrally planned initiatives, government spending, and policies in the form of subsidies or special incentives. They're not typically market-based approaches. But the right approach is the opposite of policy-making. Instead of trying to design and add new structures, development should be focused on the removal of barriers — on identifying what's getting in the way of nurturing a rich and robust entrepreneurial culture, and focusing on the removal of those obstacles. Leave the entrepreneurs to identify the specific products and services and businesses that can flourish, and to attract the investment capital that will support those businesses, without the need for “policy”. Additional Resources The Economics of Prosperity: Rethinking Economic Growth And Development by Shawn Ritenour: Mises.org/E4B_214_Book1 The Economics Of Prosperity (Edward Elgar): Mises.org/E4B_214_Book2 Shawn Ritenour at Mises.org/Ritenour Shawn Ritenour at Grove City College: Mises.org/E4B_214_Profile

Jeff Deist makes his first appearance on the Gold Exchange Podcast to talk about why he joined Monetary Metals and what he sees for the future of money and credit. Keith and Jeff discuss the importance of Say's Law, the impossibility of economic modeling, and the failures of the Fed. Tune in for this must-see episode and what can be done today to return to a sounder monetary system.

This episode explores precious metals. Gold (Au) is the main precious metal, followed by Silver (Ag), Platinum (Pt), and Palladium (Pd). These are distinct from valuable industrial metals such as copper (which served as money historically), nickel, and zinc, which have served as token coins in modern times. There are many different ways and forms you can own precious metals. Be sure to follow Minor Issues at Mises.org/MinorIssues.

Ryan and Tho talk about why Trump is the only former president to be prosecuted for crimes. The ruling class has agreed to not prosecute their own, but since they see Trump as an outsider, he is fair game. In truth, we'd be better off if more presidents and former presidents faced prosecution. Recommended Reading "With the Trump Indictment, America Is a Step Closer to Being a Banana Republic" by Bill Anderson: Mises.org/RR_128_A "Politics Is Turning Us into Idiots" by Lipton Matthews: Mises.org/RR_128_B Anatomy of the State by Murray N. Rothbard: Mises.org/RR_128_C "Yes, Virginia, There IS a Deep State—and It Is Worse than You Think" by Bill Anderson: Mises.org/RR_128_D Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Ryan and Tho talk about why Trump is the only former president to be prosecuted for crimes. The ruling class has agreed to not prosecute their own, but since they see Trump as an outsider, he is fair game. In truth, we'd be better off if more presidents and former presidents faced prosecution. Recommended Reading "With the Trump Indictment, America Is a Step Closer to Being a Banana Republic" by Bill Anderson: Mises.org/RR_128_A "Politics Is Turning Us into Idiots" by Lipton Matthews: Mises.org/RR_128_B Anatomy of the State by Murray N. Rothbard: Mises.org/RR_128_C "Yes, Virginia, There IS a Deep State—and It Is Worse than You Think" by Bill Anderson: Mises.org/RR_128_D Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Mark is not fooling around today. He looks back at the history of gold and its price, which some believe is too erratic and too unstable (like Bitcoin) to serve as a basis of a monetary system. Mark shows that it is not gold that destabilizes events in the real world, but rather real world events related to political decision-making that has made the price of gold unstable. The price of gold is a "minor" indicator of what governments are really up to. Be sure to follow Minor Issues at Mises.org/MinorIssues.

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the global moves being made against the US dollar. The regime's decade long weaponization of money and banking has both international rivals and historical allies looking for alternatives. Ryan and Tho discuss what that means for Americans, and what may come next. Recommended Reading "World needs to end risky reliance on U.S. dollar: BoE's Carney" (Reuters, 2019): Mises.org/RR_127_A "Governments Can't Blame Inflation on Energy and Putin Anymore" by Daniel Lacalle: Mises.org/RR_127_B "Is the Fed Trying to Bail Out the World? Sure Looks Like It" by Kristoffer Hansen: Mises.org/RR_127_C "Why Fractional Reserve Banking Is behind Bank Failures" by Jonathan Newman: Mises.org/RR_127_D Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

David Gornoski sits down with Mises Institute's Tho Bishop for a conversation on Trump's indictment, whether Ron DeSantis miscalculated by not defending Trump, the weaponization of America's justice system, why Trump might win if he's arrested, the international consequences of Trump's arrest, the future of the American empire, a multipolar financial world order, why Wall Street might back DeSantis, the aftermath of the Nashville shooting, the coming transition to CBDC, and more. Visit A Neighbor's Choice website at aneighborschoice.com

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the global moves being made against the US dollar. The regime's decade long weaponization of money and banking has both international rivals and historical allies looking for alternatives. Ryan and Tho discuss what that means for Americans, and what may come next. Recommended Reading "World needs to end risky reliance on U.S. dollar: BoE's Carney" (Reuters, 2019): Mises.org/RR_127_A "Governments Can't Blame Inflation on Energy and Putin Anymore" by Daniel Lacalle: Mises.org/RR_127_B "Is the Fed Trying to Bail Out the World? Sure Looks Like It" by Kristoffer Hansen: Mises.org/RR_127_C "Why Fractional Reserve Banking Is behind Bank Failures" by Jonathan Newman: Mises.org/RR_127_D Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

In this episode, Mark looks at the far away minor issue of the impact of hyperinflation in Zimbabwe. Even though they have switched from Zim dollars to US dollars, ordinary people are still suffering. Their government and its inflationary monetary policy is manifesting itself in some interesting ways. Be sure to follow Minor Issues at Mises.org/MinorIssues.

With commercial banks exposed by the recent bailouts, Americans question whether “their money” is truly safe despite the promises of FDIC insurance. Jeff and Bob walk through the mechanics of how a full reserve bank could work in a truly free market based on the concepts and taxonomy of Mises's Theory of Money and Credit. Mises's A Theory of Money and Credit: Mises.org/TMC Bob's study guide to A Theory of Money and Credit: Mises.org/HAP388a John Cochran, 'The Safest Bank the Fed Won't Sanction': Mises.org/HAP388b

With commercial banks exposed by the recent bailouts, Americans question whether “their money” is truly safe despite the promises of FDIC insurance. Jeff and Bob walk through the mechanics of how a full reserve bank could work in a truly free market based on the concepts and taxonomy of Mises's Theory of Money and Credit. Mises's A Theory of Money and Credit: Mises.org/TMC Bob's study guide to A Theory of Money and Credit: Mises.org/HAP388a John Cochran, 'The Safest Bank the Fed Won't Sanction': Mises.org/HAP388b

Why I joined the libertarian party's classical liberal caucus. And what do I think about the Mises caucus ? --- Send in a voice message: https://podcasters.spotify.com/pod/show/michaeljlong/message Support this podcast: https://podcasters.spotify.com/pod/show/michaeljlong/support

This week on Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Peter St. Onge, a fellow at the Heritage Foundation and a regular contributor to the Mises Wire. This episode looks at the political response to the recent turmoil in the banking system and how the Austrian position looks today relative to 2008. St. Onge makes a case for optimism. Recommended Reading "It Turns Out That Hundreds of Banks Are at Risk" by Peter St. Onge: Mises.org/RR_126_A "The Fed Backtracks on Future Rate Hikes as Bank Failures Loom Large" by Ryan McMaken: Mises.org/RR_126_B "Looming Bank Failures Point to More Price Inflation as Real Wages Fall Again" by Ryan McMaken: Mises.org/RR_126_C Peter St. Onge's Substack: StOnge.substack.com 2023 Libertarian Scholars Conference: Mises.org/LSC23 Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

This week on Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Peter St. Onge, a fellow at the Heritage Foundation and a regular contributor to the Mises Wire. This episode looks at the political response to the recent turmoil in the banking system and how the Austrian position looks today relative to 2008. St. Onge makes a case for optimism. Recommended Reading "It Turns Out That Hundreds of Banks Are at Risk" by Peter St. Onge: Mises.org/RR_126_A "The Fed Backtracks on Future Rate Hikes as Bank Failures Loom Large" by Ryan McMaken: Mises.org/RR_126_B "Looming Bank Failures Point to More Price Inflation as Real Wages Fall Again" by Ryan McMaken: Mises.org/RR_126_C Peter St. Onge's Substack: StOnge.substack.com 2023 Libertarian Scholars Conference: Mises.org/LSC23 Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.

Jeffrey A. Tucker is Founder and President of the Brownstone Institute and the author of many thousands of articles in the scholarly and popular press and ten books in 5 languages, most recently Liberty or Lockdown. He is also a columnist at Forbes, founder of the Atlanta Bitcoin Embassy, and Senior Distinguished Fellow of the Austrian Economics Center in Vienna, Austria. He is the editor of The Best of Mises [economist Ludwig von Mises]. He speaks widely on topics of economics, technology, social philosophy, and culture. The KunstlerCast theme music is the beautiful Two Rivers Waltz written and performed by Larry Unger.

Mises saw essentialist values as fallacies because they were unverifiable and saw metaphysical ideas as a key component of authoritarianism. His solution was utilitarianism. Original Article: "Libertarian Law by Democratic Means: Utilitarianism and the Demythologization of Authority" This Audio Mises Wire is generously sponsored by Christopher Condon.

This past weekend saw extraordinary actions by the Fed to address the meltdown of Silicon Valley Bank. Did the central bank break the law by effectively authorizing unsecured loans to banks based on the face value—rather than significantly lower market value—of those banks' Treasury holdings? Bob's study guide to A Theory of Money and Credit: Mises.org/HAP387a Jeff on the Fed as the ultimate bank: Mises.org/HAP387b