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Bob walks through a recent WIRED video on “the economics behind the Great Depression,” correcting its claims on lax regulation, Hoover's alleged inaction, the role of the Fed and the gold standard, and the notion that World War II ended the slump.Bob's Article, "The Depression You've Never Heard Of: 1920-1921": Mises.org/HAP528aBob's Talk, "Contrasting Views of the Great Depression": Mises.org/HAP528bThe WIRED Video, "Economics Professor Answers Great Depression Questions": Mises.org/HAP528cThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
Bob walks through a recent WIRED video on “the economics behind the Great Depression,” correcting its claims on lax regulation, Hoover's alleged inaction, the role of the Fed and the gold standard, and the notion that World War II ended the slump.Bob's Article, "The Depression You've Never Heard Of: 1920-1921": Mises.org/HAP528aBob's Talk, "Contrasting Views of the Great Depression": Mises.org/HAP528bThe WIRED Video, "Economics Professor Answers Great Depression Questions": Mises.org/HAP528cThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
Bob revisits capital and interest theory to show why the textbook result “interest = MPK” only holds in a one-good world, and why in actual markets the interest rate emerges from time, prices, and capital valuation—not raw productivity.Bob and Alberto Bisin Discuss the Use of Mathematics in Economics: Mises.org/HAP527aBob's Dissertation, "Unanticipated Intertemporal Change in Theories of Interest": Mises.org/HAP527bThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
Bob revisits capital and interest theory to show why the textbook result “interest = MPK” only holds in a one-good world, and why in actual markets the interest rate emerges from time, prices, and capital valuation—not raw productivity.Bob and Alberto Bisin Discuss the Use of Mathematics in Economics: Mises.org/HAP527aBob's Dissertation, "Unanticipated Intertemporal Change in Theories of Interest": Mises.org/HAP527bThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
We must realize that the two most powerful motivations in human history have always been ideology and economic interest, and that a joining of these two motivations can be downright irresistible.Original article: https://mises.org/mises-daily/origins-welfare-state-america
We must realize that the two most powerful motivations in human history have always been ideology and economic interest, and that a joining of these two motivations can be downright irresistible.Original article: https://mises.org/mises-daily/origins-welfare-state-america
Prompted by an online debate about whether economics belongs with the hard sciences, Bob reviews common defenses of mainstream practice and explains why they don't settle the scientific status of the field. He outlines the Mises–Rothbard view: economics as praxeology (logic of action), closer to geometry than laboratory testing, with core insights on opportunity cost, incentives, prices, money, and policy constraints that don't depend on forecasting the exact timing of crashes.Understanding Money Mechanics: Mises.org/HAP526aBob's Mises Daily Article, "Economists Can Be Hilarious": Mises.org/HAP526bHoppe's Economic Science and the Austrian Method: Mises.org/HAP526cLessons for the Young Economist: Mises.org/HAP526dThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
Prompted by an online debate about whether economics belongs with the hard sciences, Bob reviews common defenses of mainstream practice and explains why they don't settle the scientific status of the field. He outlines the Mises–Rothbard view: economics as praxeology (logic of action), closer to geometry than laboratory testing, with core insights on opportunity cost, incentives, prices, money, and policy constraints that don't depend on forecasting the exact timing of crashes.Understanding Money Mechanics: Mises.org/HAP526aBob's Mises Daily Article, "Economists Can Be Hilarious": Mises.org/HAP526bHoppe's Economic Science and the Austrian Method: Mises.org/HAP526cLessons for the Young Economist: Mises.org/HAP526dThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
Ryan and political scientist Joseph Solis-Mullen talk about how taxes, war, and the state are all part of a centuries-old formula for impoverishing the productive class while enriching the government class. 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
Ryan and political scientist Joseph Solis-Mullen talk about how taxes, war, and the state are all part of a centuries-old formula for impoverishing the productive class while enriching the government class. 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
A long-enduring myth about money is that we need a flexible or "elastic" currency for the economy to grow. Economist Jonathan Newman joins us to talk about why this has never been true. 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
A long-enduring myth about money is that we need a flexible or "elastic" currency for the economy to grow. Economist Jonathan Newman joins us to talk about why this has never been true. 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
Mainstream economists claim that they can use econometric models to emulate human action and, thus, create an economic laboratory. These models, however, cannot tell us about cause-and-effect, which is vital to understanding praxeology and economic behavior.Original article: https://mises.org/mises-wire/can-econometric-models-fulfill-role-economic-laboratory
Mainstream economists claim that they can use econometric models to emulate human action and, thus, create an economic laboratory. These models, however, cannot tell us about cause-and-effect, which is vital to understanding praxeology and economic behavior.Original article: https://mises.org/mises-wire/can-econometric-models-fulfill-role-economic-laboratory
Economist Joseph Salerno, an expert on the Austrian School, money, and methodology, joins us to talk about what makes the Austrian School of economics different. 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
In examining the Austrian Regression Theorem of Money, Joshua Mawhorter takes on the Chartalist/MMT claim that government gives money its value. The Chartalist/MMT advocates lack a necessary cause-and-effect mechanism to prove their claims.Original article: https://mises.org/mises-wire/last-day-barter-and-questions-first-day-chartalism
In examining the Austrian Regression Theorem of Money, Joshua Mawhorter takes on the Chartalist/MMT claim that government gives money its value. The Chartalist/MMT advocates lack a necessary cause-and-effect mechanism to prove their claims.Original article: https://mises.org/mises-wire/last-day-barter-and-questions-first-day-chartalism
Economist Joseph Salerno, an expert on the Austrian School, money, and methodology, joins us to talk about what makes the Austrian School of economics different. 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 and Jonathan Newman respond in detail to Richard Werner's highly discussed interview with Tucker Carlson. They examine Werner's claims about credit creation theory, fractional reserve banking, and money mechanics. Murphy and Newman also discuss Werner's recommendations for banking reform, highlighting differences with Mises's monetary insights and Austrian business cycle theory.The Tucker Carlson Show Episode with Richard Werner: Mises.org/HAP511aPlaying with Fire: Money, Banking, and the Federal Reserve: Mises.org/HAP511bBob's "Anatomy of the Fed" Mises Academy Course: Mises.org/HAP511cThe Federal Reserve Bank of Chicago "Modern Money Mechanics" Workbook: Mises.org/HAP511dBob's Book, Understanding Money Mechanics: Mises.org/HAP511eThe 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
Many "social justice" advocates claim to appeal to a “higher law,” but they usually refuse to acknowledge economic laws because those laws stand in their way of creating the "just" society.Original article: https://mises.org/mises-wire/austrian-perspectives-social-justice
Bob and Jonathan Newman respond in detail to Richard Werner's highly discussed interview with Tucker Carlson. They examine Werner's claims about credit creation theory, fractional reserve banking, and money mechanics. Murphy and Newman also discuss Werner's recommendations for banking reform, highlighting differences with Mises's monetary insights and Austrian business cycle theory.The Tucker Carlson Show Episode with Richard Werner: Mises.org/HAP511aPlaying with Fire: Money, Banking, and the Federal Reserve: Mises.org/HAP511bBob's "Anatomy of the Fed" Mises Academy Course: Mises.org/HAP511cThe Federal Reserve Bank of Chicago "Modern Money Mechanics" Workbook: Mises.org/HAP511dBob's Book, Understanding Money Mechanics: Mises.org/HAP511eThe 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
Many "social justice" advocates claim to appeal to a “higher law,” but they usually refuse to acknowledge economic laws because those laws stand in their way of creating the "just" society.Original article: https://mises.org/mises-wire/austrian-perspectives-social-justice
While it is true that colonial era governments sometimes burned paper money after receiving it in the form of taxation, why they burned the money is for reasons other than what MMT advocates are claiming. In the end, the MMT promoters are telling a false history.Original article: https://mises.org/mises-wire/why-governments-burned-money
While it is true that colonial era governments sometimes burned paper money after receiving it in the form of taxation, why they burned the money is for reasons other than what MMT advocates are claiming. In the end, the MMT promoters are telling a false history.Original article: https://mises.org/mises-wire/why-governments-burned-money
Not only are modern monetary theory (MMT) cultists dishonest about the role of money, they also are dishonest about money‘s history. By taking issue with Carl Menger‘s historical version, they expose their own ignorance of how money came about.Original article: https://mises.org/mises-wire/mmt-wrong-about-history-origins-money
Not only are modern monetary theory (MMT) cultists dishonest about the role of money, they also are dishonest about money‘s history. By taking issue with Carl Menger‘s historical version, they expose their own ignorance of how money came about.Original article: https://mises.org/mises-wire/mmt-wrong-about-history-origins-money
Modern psychology has been at odds with the praxeology of the Austrian School, as psychologists have tended to see humans as passive and reactive, while Austrians view human action as purposeful. Recent developments in the field might change that narrative.Original article: https://mises.org/mises-wire/how-psychology-catching-reality-human-action
Modern psychology has been at odds with the praxeology of the Austrian School, as psychologists have tended to see humans as passive and reactive, while Austrians view human action as purposeful. Recent developments in the field might change that narrative.Original article: https://mises.org/mises-wire/how-psychology-catching-reality-human-action
Bob Murphy examines Henry Hazlitt's treatment of inflation in Economics in One Lesson, highlighting key insights on monetary expansion, Cantillon effects, and the distinction between nominal and real variables. The lecture offers a clear, Austrian perspective on why inflation distorts rather than enriches, and why its consequences are uneven and often misunderstood.Recorded at the Mises Institute in Auburn, Alabama, on July 24, 2025.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.
Bob Murphy and Jonathan Newman take on the rising popularity of Modern Monetary Theory and explain why it stands in direct opposition to Austrian economics. Using clips from the documentary Finding the Money, they critique MMT's core assumptions, from government spending and deficit myths to the origins of money itself. They offer historical evidence, economic logic, and biting rebuttals to MMT's claims, exposing its flaws and clarifying what's really at stake in today's monetary debates.Recorded at the Mises Institute in Auburn, Alabama, on July 24, 2025.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.
Lucas Engelhardt challenges conventional applications of game theory by integrating the Austrian perspective on entrepreneurship, showing how creative action can resolve apparent economic impasses like the prisoner's dilemma, the tragedy of the commons, and coordination failures.Recorded at the Mises Institute in Auburn, Alabama, on July 24, 2025.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.
Is Austrian Economics compatible with modern sociology, which is presently dominated by collectivists? However, it is possible to apply praxeology to sociology analysis, and that is where one begins to approach this discipline in a manner that promotes liberty.Original article: https://mises.org/mises-wire/rethinking-sociology-mises-new-austro-libertarian-framework-understanding-society
Is Austrian Economics compatible with modern sociology, which is presently dominated by collectivists? However, it is possible to apply praxeology to sociology analysis, and that is where one begins to approach this discipline in a manner that promotes liberty.Original article: https://mises.org/mises-wire/rethinking-sociology-mises-new-austro-libertarian-framework-understanding-society
A modern socialist economy is impossible.Recorded at the Mises Institute in Auburn, Alabama, on July 22, 2025.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.
Austrian economics veers sharply from the economic mainstream over the use of mathematics and quantitative measures. Instead, Austrians build upon irrefutable premises based upon human action.Original article: https://mises.org/mises-wire/questionable-role-quantitative-methods-economics
Austrian economics veers sharply from the economic mainstream over the use of mathematics and quantitative measures. Instead, Austrians build upon irrefutable premises based upon human action.Original article: https://mises.org/mises-wire/questionable-role-quantitative-methods-economics
Socialists despise individual liberty because they believe that allowing humans to make free choices supposedly leads to selfish and anti-social behavior. However, by denying individual choice, socialists are denying human action itself.Original article: https://mises.org/mises-wire/axiom-action-and-inescapability-liberty
Socialists despise individual liberty because they believe that allowing humans to make free choices supposedly leads to selfish and anti-social behavior. However, by denying individual choice, socialists are denying human action itself.Original article: https://mises.org/mises-wire/axiom-action-and-inescapability-liberty
Mises University begins Sunday, July 20, and given that misinformation abounds about the economy, it is good to have a forum where students can learn economic truths and stretch their minds.Original article: https://mises.org/mises-wire/why-mises-university-matters
Mises University begins Sunday, July 20, and given that misinformation abounds about the economy, it is good to have a forum where students can learn economic truths and stretch their minds.Original article: https://mises.org/mises-wire/why-mises-university-matters
A central belief of collectivists is that people think collectively, too. Whether one is a member of a class, religious group, or ethnic group, collectivism holds that each group has distinct interests that determine how individuals in the group think. Mises would have disagreed.Original article: https://mises.org/mises-wire/mythology-methodological-collectivism
A central belief of collectivists is that people think collectively, too. Whether one is a member of a class, religious group, or ethnic group, collectivism holds that each group has distinct interests that determine how individuals in the group think. Mises would have disagreed.Original article: https://mises.org/mises-wire/mythology-methodological-collectivism
Speaking at the recent Rothbard Graduate Seminar, Dr. Joseph Salerno traces Murray Rothbard‘s intellectual development while in the economics Ph.D. program at Columbia University. Rothbard was dissatisfied with the popular schools of thought until he discovered Austrian economics.Original article: https://mises.org/mises-wire/young-rothbard-uncomfortable-neoclassical-economist
Speaking at the recent Rothbard Graduate Seminar, Dr. Joseph Salerno traces Murray Rothbard‘s intellectual development while in the economics Ph.D. program at Columbia University. Rothbard was dissatisfied with the popular schools of thought until he discovered Austrian economics.Original article: https://mises.org/mises-wire/young-rothbard-uncomfortable-neoclassical-economist
Some non-economic arguments made by pronatalists are very good. But when it comes to economics, pronatalists often get it very wrong.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
Some non-economic arguments made by pronatalists are very good. But when it comes to economics, pronatalists often get it very wrong.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
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