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In this welcome lecture to the 2025 Rothbard Graduate Seminar, Joseph Salerno dismantles the myth that Murray Rothbard was an outsider to mainstream economics.Drawing on Rothbard's deep academic training and early career, Salerno reveals how Rothbard was a thoroughly trained neoclassical economist before his conversion to Austrian economics. The talk highlights Rothbard's engagement with institutionalism, positivism, and Keynesianism, and how his discovery of Mises and praxeology transformed his outlook, ultimately forging one of the most original and radical economists of the 20th century.Recorded at the Mises Institute in Auburn, Alabama, on Sunday, June 8, 2025.
Joshua Mawhorter joins us to talk about how the fiat-money theories of Modern Monetary Theory and chartalism aren't supported by the historical facts. Articles and resources mentioned: Is It Money Because It Is Redeemed in Tax Payments? A Response to Kelton and Wray by Per Bylund. MMT and US History: Redefining Chartalism by Joshua Mawhorter.MMT, Chartalism, and the Colonial Experience by Joshua Mawhorter.How the Classical Gold Standard Fueled the Rise of the State by Ryan McMaken.Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbardRadio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off
Joshua Mawhorter joins us to talk about how the fiat-money theories of Modern Monetary Theory and chartalism aren't supported by the historical facts. Articles and resources mentioned: Is It Money Because It Is Redeemed in Tax Payments? A Response to Kelton and Wray by Per Bylund. MMT and US History: Redefining Chartalism by Joshua Mawhorter.MMT, Chartalism, and the Colonial Experience by Joshua Mawhorter.How the Classical Gold Standard Fueled the Rise of the State by Ryan McMaken.Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbardRadio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off
Bob takes a close look at Oren Cass's recent appearance on Tucker Carlson, where Cass argued for free trade to a skeptical conservative audience. Bob unpacks Cass's arguments about tariffs, comparative advantage, and trade deficits—not to attack, but to clarify. Using classical and Austrian economics, Murphy shows why U.S. economic malaise can't be solved with tariffs, but also why dismissing Cass's concerns outright is a strategic and economic mistake.Oren Cass on The Tucker Carlson Show: Mises.org/HAP501aOren Cass on The Infineo Podcast: Mises.org/HAP501bThe Human Action Podcast Episode on Comparative Advantage: Mises.org/HAP501cOren Cass, "Free Trade's Origin Myth": Mises.org/HAP501dOren Cass, "The Truth About Tariffs": Mises.org/HAP501eThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Bob takes a close look at Oren Cass's recent appearance on Tucker Carlson, where Cass argued for free trade to a skeptical conservative audience. Bob unpacks Cass's arguments about tariffs, comparative advantage, and trade deficits—not to attack, but to clarify. Using classical and Austrian economics, Murphy shows why U.S. economic malaise can't be solved with tariffs, but also why dismissing Cass's concerns outright is a strategic and economic mistake.Oren Cass on The Tucker Carlson Show: Mises.org/HAP501aOren Cass on The Infineo Podcast: Mises.org/HAP501bThe Human Action Podcast Episode on Comparative Advantage: Mises.org/HAP501cOren Cass, "Free Trade's Origin Myth": Mises.org/HAP501dOren Cass, "The Truth About Tariffs": Mises.org/HAP501eThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Dr. Joe Salerno joins Bob to review the recent tensions between Donald Trump and Fed Chairman Jerome Powell. As Trump questions Powell's leadership and Fed policy, they explore the deeper issues: Should central banks really be "independent"? Does the Fed's shield from political oversight protect sound economics—or merely insulate elites from accountability? Murphy and Salerno tackle myths about interest rates, inflation, debt monetization, and the Fed's true relationship with government spending.Trump's Truth Social Post on Inflation: Mises.org/HAP497aCan Trump Fire Federal Reserve Chair Jerome Powell?: Mises.org/HAP497bThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Dr. Joe Salerno joins Bob to review the recent tensions between Donald Trump and Fed Chairman Jerome Powell. As Trump questions Powell's leadership and Fed policy, they explore the deeper issues: Should central banks really be "independent"? Does the Fed's shield from political oversight protect sound economics—or merely insulate elites from accountability? Murphy and Salerno tackle myths about interest rates, inflation, debt monetization, and the Fed's true relationship with government spending.Trump's Truth Social Post on Inflation: Mises.org/HAP497aCan Trump Fire Federal Reserve Chair Jerome Powell?: Mises.org/HAP497bThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Why do economists across the spectrum—even Paul Krugman and Karl Marx—support free trade? Mark Thornton explores this surprising consensus. Do tariffs force people to think more like economists, considering long-term ramifications taught by Bastiat and Hazlitt.Is it a true understanding of the Austrian perspective, or just a fleeting moment of clarity? Mark suggests economists often compartmentalize principles, opening the door to conflicting ideologies.Tune in to discover why free trade might be the one issue that forces economists to think straight, and what Austrians can learn from the mainstream.Additional Resources"Why Smart People Are Rightly Confused About Tariffs" (Unanimity, Episode 4): http://mises.org/U4“The Twin Deficits” (Minor Issues, Episode 115): https://mises.org/MI_115"Free Trade in the Twenty-First Century” (Minor Issues, Episode 113): https://mises.org/MI_113"Tariff Increases vs. Tax Cuts" (Minor Issues, Episode 107): https://mises.org/MI_107Join us May 15-17, 2025, at the Mises Institute in Auburn, Alabama, for our Revisionist History of War Conference. This is our first history conference in almost thirty years. For more details and to register, visit https://Mises.org/rhw.Be sure to follow Minor Issues at Mises.org/MinorIssues
The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture.Wray, "Modern Money Theory for Beginners": Mises.org/HAP496aThe NBER Paper on Colonial Virginia's Money Regime: Mises.org/HAP496bNPR Planet Money, "A Giant Stone Coin At The Bottom Of The Sea": Mises.org/HAP496cMilton Friedman, "The Island Of Stone Money": Mises.org/HAP496dBob's Article, "MMT and Treasury Debt Payoff": Mises.org/HAP496eThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture.Wray, "Modern Money Theory for Beginners": Mises.org/HAP496aThe NBER Paper on Colonial Virginia's Money Regime: Mises.org/HAP496bNPR Planet Money, "A Giant Stone Coin At The Bottom Of The Sea": Mises.org/HAP496cMilton Friedman, "The Island Of Stone Money": Mises.org/HAP496dBob's Article, "MMT and Treasury Debt Payoff": Mises.org/HAP496eThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
In this episode, Bob breaks down the Triffin dilemma, explaining why it's wrong to assume that maintaining global reserve currency status requires ever-increasing U.S. trade deficits. He shows that America's chronic deficits are driven more by government spending and fiat money than by global necessity, making the case that returning to fiscal discipline and sound money—not tariffs—is the key to reversing America's economic decline.Bob and Jonathan Newman on Misleading Charts: Mises.org/HAP495aHow Economists Evaluate Tariffs Versus Income Taxes: Mises.org/HAP495bThe St. Louis Federal Reserve Article on Historical U.S. Trade Deficits: Mises.org/HAP495cThe Charts Referenced in this Episode: Mises.org/HAP495dSaez and Zucman, "The Rise of Income and Wealth Inequality in America": Mises.org/HAP495eTrump's Remarks on the US being a "Tariff-Backed Nation": Mises.org/HAP495fThe Tucker Carlson Show with Bob Lighthizer: Mises.org/HAP495gThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
In this episode, Bob breaks down the Triffin dilemma, explaining why it's wrong to assume that maintaining global reserve currency status requires ever-increasing U.S. trade deficits. He shows that America's chronic deficits are driven more by government spending and fiat money than by global necessity, making the case that returning to fiscal discipline and sound money—not tariffs—is the key to reversing America's economic decline.Bob and Jonathan Newman on Misleading Charts: Mises.org/HAP495aHow Economists Evaluate Tariffs Versus Income Taxes: Mises.org/HAP495bThe St. Louis Federal Reserve Article on Historical U.S. Trade Deficits: Mises.org/HAP495cThe Charts Referenced in this Episode: Mises.org/HAP495dSaez and Zucman, "The Rise of Income and Wealth Inequality in America": Mises.org/HAP495eTrump's Remarks on the US being a "Tariff-Backed Nation": Mises.org/HAP495fThe Tucker Carlson Show with Bob Lighthizer: Mises.org/HAP495gThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
Jonathan Newman joins Bob to discuss the debate between Austrians and MMTers on the origins of money. In the Anti-MMT panel at the Austrian Economics Research Conference (AERC), Jonathan presented his research on the archeological evidence that silver was used as money in ancient Mesopotamia and how the evidence vindicates Menger's theory on the origins of money. Jonathan and Bob walk through various MMT responses and make the case that the Austrian school is especially suited to critique Modern Monetary Theory.The Anti-MMT Panel from the 2025 AERC: Mises.org/HAP494aElon Musk and Ted Cruz Discussing "Magic Money Computers": Mises.org/HAP494bJonathan's Overwhelming Evidence that Silver was Money in Ancient Mesopotamia: Mises.org/HAP494cThe X Thread by Patricia Pino on the Measure of Value of Money: Mises.org/HAP494dBob's "Origin of the Specie" in The American Conservative: Mises.org/HAP494eR.A Radford's "The Economic Organization of a P.O.W. Camp": Mises.org/HAP494fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
Jonathan Newman joins Bob to discuss the debate between Austrians and MMTers on the origins of money. In the Anti-MMT panel at the Austrian Economics Research Conference (AERC), Jonathan presented his research on the archeological evidence that silver was used as money in ancient Mesopotamia and how the evidence vindicates Menger's theory on the origins of money. Jonathan and Bob walk through various MMT responses and make the case that the Austrian school is especially suited to critique Modern Monetary Theory.The Anti-MMT Panel from the 2025 AERC: Mises.org/HAP494aElon Musk and Ted Cruz Discussing "Magic Money Computers": Mises.org/HAP494bJonathan's Overwhelming Evidence that Silver was Money in Ancient Mesopotamia: Mises.org/HAP494cThe X Thread by Patricia Pino on the Measure of Value of Money: Mises.org/HAP494dBob's "Origin of the Specie" in The American Conservative: Mises.org/HAP494eR.A Radford's "The Economic Organization of a P.O.W. Camp": Mises.org/HAP494fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
Patrick Newman joins Bob to discuss one of his talks at the Austrian Economics Research Conference (AERC), where he explained that Simon Kuznets–who developed the method of calculating GNP and GDP statistics–had serious doubts about how to include government expenditures.Patrick's Talk at the 2025 AERC: Mises.org/HAP493aRothbard's Man, Economy, and State: Mises.org/HAP493bBob's 2014 Talk on the Great Depression: Mises.org/HAP493cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
Patrick Newman joins Bob to discuss one of his talks at the Austrian Economics Research Conference (AERC), where he explained that Simon Kuznets–who developed the method of calculating GNP and GDP statistics–had serious doubts about how to include government expenditures.Patrick's Talk at the 2025 AERC: Mises.org/HAP493aRothbard's Man, Economy, and State: Mises.org/HAP493bBob's 2014 Talk on the Great Depression: Mises.org/HAP493cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
Featuring Per Bylund, Lucas Engelhardt, Joshua Mawhorter, Jonathan Newman, Patrick Newman, and Joseph T. Salerno, this panel exposes flawed assumptions of Modern Monetary Theory (MMT), including the origins of money, government spending, job guarantees, entrepreneurship, and economic growth. The presenters critique MMT's reliance on state-driven monetary policy, its neglect of entrepreneurship and capital formation, and its unrealistic view of labor and job guarantees. The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. For more information, visit https://Mises.org.
Was Keynes a brilliant economist—or the architect of modern socialism? In this explosive lecture, Edward Fuller uncovers the political roots of Keynesian theory and exposes the myth behind its most influential model.The Henry Hazlitt Memorial Lecture, sponsored by Shone Sadler. Includes a welcome by Joseph T. Salerno.The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. For more information, visit https://Mises.org.
One of the fallacies of modern academic neoclassical economics is that we can take cardinal measures of value. Austrian economists, beginning with Carl Menger, know better.Original article: Prices Are Not Measurements of Value
Mainstream economists today examine economic phenomena from a “black box” perspective in which they look at inputs and outputs without trying to understand causal mechanisms that make the outcomes possible.Original article: A Critique of Black Box Economics
Mainstream economists today examine economic phenomena from a “black box” perspective in which they look at inputs and outputs without trying to understand causal mechanisms that make the outcomes possible.Original article: A Critique of Black Box Economics
On December 23, 2024, Wanjiru Njoya appeared on Focus Today with Perry Atkinson discusses the impact of cultural Marxism on America's understanding of history and identity.The original episode is available at https://thedove.us/focus-today/
Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism.Original article: The Relevance of the Natural Sciences Methods in Economics
Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism.Original article: The Relevance of the Natural Sciences Methods in Economics
Austrian economics today needs critics. It doesn‘t need the critics (like Paul Krugman) who cannot give valid and accurate criticisms, but rather people who actually understand the concepts upon which Austrian thinking is built provide a real challenge.Original article: Wanted: Critics of Austrian Economics
Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.Original article: Assumptions in Economics and in the Real World
Austrian economics today needs critics. It doesn‘t need the critics (like Paul Krugman) who cannot give valid and accurate criticisms, but rather people who actually understand the concepts upon which Austrian thinking is built provide a real challenge.Original article: Wanted: Critics of Austrian Economics
Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.Original article: Assumptions in Economics and in the Real World
Employing the Labor Theory of Value, Marx claimed that entrepreneurial profits arise from exploitation of workers. In reality, entrepreneurs earn profits when they correctly gauge markets. Exploitation has nothing to do with it.Original article: Entrepreneurial Profit Follows Good Decisions, Not Exploitation
Employing the Labor Theory of Value, Marx claimed that entrepreneurial profits arise from exploitation of workers. In reality, entrepreneurs earn profits when they correctly gauge markets. Exploitation has nothing to do with it.Original article: Entrepreneurial Profit Follows Good Decisions, Not Exploitation
David Glasner is a UCLA-trained economist specializing in monetary theory and the history of economic thought. He has disagreed in print with Murphy's take on the famous Sraffa-Hayek debate. David first explains his general views and then comments on the debate.Bob's Paper, "A Problem With the Pure Time Preference Theory of Interest": Mises.org/HAP477aDavid's Paper "The Sraffa-Hayek Debate on the Natural Rate of Interest": Mises.org/HAP477bFor just $25, you can receive our December Bundle, including three essential reads:Tom DiLorenzo's Axis of Evil: America's Three Worst Presidents, Per Bylund's How to Think About the Economy,and Murray Rothbard's What Has Government Done to Our Money?. Claim your bundle now at Mises.org/HumanAction24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
David Glasner is a UCLA-trained economist specializing in monetary theory and the history of economic thought. He has disagreed in print with Murphy's take on the famous Sraffa-Hayek debate. David first explains his general views and then comments on the debate.Bob's Paper, "A Problem With the Pure Time Preference Theory of Interest": Mises.org/HAP477aDavid's Paper "The Sraffa-Hayek Debate on the Natural Rate of Interest": Mises.org/HAP477bFor just $25, you can receive our December Bundle, including three essential reads:Tom DiLorenzo's Axis of Evil: America's Three Worst Presidents, Per Bylund's How to Think About the Economy,and Murray Rothbard's What Has Government Done to Our Money?. Claim your bundle now at Mises.org/HumanAction24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
In 1997, Bryan Caplan wrote an essay explaining why he was no longer a self-described Austrian. Recently, a reader asked him to comment on that essay. Bob reacts to Bryan's current views, arguing that the history of economic thought is indeed important, and the Misesian approach to praxeology is crucial.Bryan Caplan's Recent Article: Mises.org/HAP476aBryan Caplan's "Why I Am Not an Austrian Economist": Mises.org/HAP476bHoppe's Economic Science and the Austrian Method: Mises.org/HAP476cBob's Cambridge University Press Article on Böhm-Bawerk's Critiques: Mises.org/HAP476dA Modern Guide to Austrian Economics: Mises.org/HAP476eBob and David Freidman, "The Chicago Vs. Austrian School Debate": Mises.org/HAP476fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
In 1997, Bryan Caplan wrote an essay explaining why he was no longer a self-described Austrian. Recently, a reader asked him to comment on that essay. Bob reacts to Bryan's current views, arguing that the history of economic thought is indeed important, and the Misesian approach to praxeology is crucial.Bryan Caplan's Recent Article: Mises.org/HAP476aBryan Caplan's "Why I Am Not an Austrian Economist": Mises.org/HAP476bHoppe's Economic Science and the Austrian Method: Mises.org/HAP476cBob's Cambridge University Press Article on Böhm-Bawerk's Critiques: Mises.org/HAP476dA Modern Guide to Austrian Economics: Mises.org/HAP476eBob and David Freidman, "The Chicago Vs. Austrian School Debate": Mises.org/HAP476fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
There are numerous critics of the Austrian School of economics, but when their disparagements are closely examined, the so-called experts themselves are wrong. Austrians can do a better job of setting the record straight.Original article: Answering the Confused Critics of Austrian Economics
There are numerous critics of the Austrian School of economics, but when their disparagements are closely examined, the so-called experts themselves are wrong. Austrians can do a better job of setting the record straight.Original article: Answering the Confused Critics of Austrian Economics
Mises Fellow Kristoffer Hansen joins Bob to discuss Mises' perspective on fractional reserve banking and free banking. Earlier this month, Larry White referenced Hansen's work on fractional reserve banking, asserting that Hansen indicated Mises acknowledged the benefits of FRB. Kristoffer clarifies his paper and examines what Mises wrote in Human Action on the topic.Additionally, Bob and Kristoffer delve into the influence of the Currency School on banking and economic instability, as well as how commodity-backed money might impact the business cycle.Kristoffer's Article in the QJAE, "Sound Money without Free Banking": Mises.org/HAP472aKristoffer and Jonathan Newman's Article in the QJAE Clarifying Rothbard's Definition of Inflation: Mises.org/HAP472bHuman Action Podcast Episode 470 on the Debate Over Fractional Reserve Banking: Mises.org/HAP472cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Mises Fellow Kristoffer Hansen joins Bob to discuss Mises' perspective on fractional reserve banking and free banking. Earlier this month, Larry White referenced Hansen's work on fractional reserve banking, asserting that Hansen indicated Mises acknowledged the benefits of FRB. Kristoffer clarifies his paper and examines what Mises wrote in Human Action on the topic.Additionally, Bob and Kristoffer delve into the influence of the Currency School on banking and economic instability, as well as how commodity-backed money might impact the business cycle.Kristoffer's Article in the QJAE, "Sound Money without Free Banking": Mises.org/HAP472aKristoffer and Jonathan Newman's Article in the QJAE Clarifying Rothbard's Definition of Inflation: Mises.org/HAP472bHuman Action Podcast Episode 470 on the Debate Over Fractional Reserve Banking: Mises.org/HAP472cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Presented in Hilton Head Island, South Carolina on Saturday, October 12, 2024.Sponsored by Gregory and Jane Gandee.
This Sunday, September 29, marks the birthday of Ludwig von Mises, and all fall campaign donations will be doubled in celebration. Join us! Mises.org/mi5John Maynard Keynes was an English “economist” who spawned a revolution in economic thinking that emerged out of a cesspool of socialist thinking in Britain, creating a tidal wave of anti-economics that overwhelmed and dominated the economics profession worldwide, known as Keynesian economics. His experience as an investor is very instructive of his mindset—and the unfortunate revolution that he brought to the world.Follow Minor Issues at Mises.org/MinorIssues.
It is understood that Marx's theories stand entirely upon his Labor Theory of Value. If that theory is discredited, so is the scenario that leads to the inevitable triumph of communism. That fact, however, doesn't stop Marx's disciples from employing other fallacies.Original article: New “Engels” on Marx
It is understood that Marx's theories stand entirely upon his Labor Theory of Value. If that theory is discredited, so is the scenario that leads to the inevitable triumph of communism. That fact, however, doesn't stop Marx's disciples from employing other fallacies.Original article: New “Engels” on Marx
Bob goes solo to explain the contributions of Carl Menger and Ludwig von Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus.Bob's Article, "Origin of the Specie": Mises.org/HAP464aR. A. Radford, "The Economic Organisation of a P.O.W": Mises.org/HAP464bBob's Book, Understanding Money Mechanics: Mises.org/HAP464cGet your ticket to Living Free in an Unfree World in Albuquerque, New Mexico: Mises.org/NM24
Bob goes solo to explain the contributions of Carl Menger and Ludwig von Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus.Bob's Article, "Origin of the Specie": Mises.org/HAP464aR. A. Radford, "The Economic Organisation of a P.O.W": Mises.org/HAP464bBob's Book, Understanding Money Mechanics: Mises.org/HAP464cGet your ticket to Living Free in an Unfree World in Albuquerque, New Mexico: Mises.org/NM24
The phrase, old school economics, is often used positively or approvingly by many, but it's rarely explained. What is this school and where is it located? You can be sure that it is not what is taught in most college classrooms today. It's definitely not Keynesian or Marxist economics. But what is it?Order a free paperback copy of Per Bylund's How to Think About the Economy at Mises.org/IssuesFree.Follow Minor Issues at Mises.org/MinorIssues.
What we may call the “spending illusion” is perhaps the gravest error in the history of economic thought and has been deeply embedded in economics since the early twentieth century.Original Article: Have we been living in an MMT world since 2008?
Economic laws represent the real world. They are not ideologies or objects of worship. These laws are not the product of an ideological wish list but rather explain production and exchange.Original Article: The Limitations of Economic Laws
Bob critiques MMT godfather Warren Mosler's recent interview on the Odd Lots podcast, where Mosler argued that the Fed rate hikes have been fueling the strong economy.Bob's Critique of Stephanie Kelton's MMT Documentary: Mises.org/HAP456aJoin us in Fort Myers, Florida, on November 9, 2024, to cut through the political noise and discuss the state of the economy. Distinguished speakers Tom DiLorenzo, Mark Thornton, and Murray Sabrin will challenge prevailing economic myths and take a critical look at the US political theater, offering insights into how political interventions distort our economy. It's an opportunity to move beyond partisan rhetoric and examine the way the government affects our lives and livelihoods. Register now: Mises.org/FtMyers24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Are wealthy people getting wealthier because they work harder? Dr. Jonathan Newman is back on the show to discuss Robert Reich's latest videos about debunking economic myths.Robert Reich incorrectly blames the free market when businesses act on incentives provided by the government. He condenses this information into short, impactful videos for his audience. However, most of what Reich talks about isn't really economics. And when he does discuss economics, he relies on flawed assumptions that have been meticulously refuted over the past century. Bob and Dr. Newman dissect the misconceptions and provide some insights.Robert Reich's "Debunking Economic Myths" Episode 3: Mises.org/HAP455aRobert Reich's "Debunking Economic Myths" Episode 4: Mises.org/HAP455bDr. Newman's Post on Reich's Episode 5: Mises.org/HAP455cJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios.Reason Debate Between Bob and George Selgin: Mises.org/HAP453aGeorge Selgin Interview on Free Banking: Mises.org/HAP453bSelgin's Response to Bob on Twitter: Mises.org/HAP453cRothbard's Economic Controversies: Mises.org/HAP453dJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
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