Is the Dollar the Global Reserve Currency Because There Is No Better Alternative?
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Economics researcher Joakim Book joins Bob to discuss his recent article on the dollar's international dominance at the American Institute for Economic Research.
US Sanctions incentivize foreign governments to find alternatives to the dollar, but none have successfully escaped Washington's grip. Joakim argues that alternative payment systems are in the works, but even international banking transactions still use US banking systems. How much longer will the US dollar be the king currency? Why aren't foreign Governments fleeing to BTC and Gold? Bob and Joakim discuss.
Chapters 00:00 Introduction 01:05 Declining Dollar Dominance 06:23 The Roles Dollars Play in International Commerce 08:29 US Sanctions and the Incentives they Create 15:08 Alternative Payment Systems that are being Built 20:29 Why Aren't Governments using Bitcoin? 28:34 Why The US Government Has too much Power 32:04 Should the Average Person Care? 37:35 Conclusion ... https://www.youtube.com/watch?v=uD7ozwiYyJE
View the full episode at https://Mises.org/RR81
Radio Rothbard is a weekly podcast featuring a cast of Mises Institute voices and special guests. The show tackles politics, current events, culture, media, and of course the predatory state, all from an uncompromising Rothbardian perspective. Radio Rothbard is the weekly anti-politics podcast you won't want to miss!
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https://www.youtube.com/watch?v=ljAwLFQHaTw
Live at Mises University in Auburn Alabama, Ryan McMaken and Tho Bishop look at the methods of radical libertarians in light of Rothbard's essay on revolution.
“The Meaning of Revolution” by Murray Rothbard: https://Mises.org/RR_197_A
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https://www.youtube.com/watch?v=484MEKTSLjE
WWI was the culmination of progressivism. It was possible to impose prohibition. The creation of the Fed and the passage of an income tax allowed warfare socialism to rage and liberties to be lost.
Government reallocated resources by taking money from citizens and then purchasing war goods. Inflation was a stealth tax that fooled people. Most thought inflation was the fault of markets rather than governments. Patriotic hoopla was needed to persuade young men to be cannon fodder. Draft riots did not happen because many simply did not register for the draft and the Army had learned from earlier resistance to take themselves out of the visible draft activity. Recruiters made the system look like community defense efforts. The Brits invented war propaganda to induce Americans to come into the war.
Industry was mainly guided by a War Industries Board, using businessmen from various sectors as public servants. They tried to substitute their judgments for what should have been reliance upon the price system. The mess being made would have been obvious had the war continued much longer. Central planners can do something but they can’t know the opportunity lost costs. They can’t satisfy economic rationality. They can’t know how much they wasted.
Bibliography (PDF): Mises.org/CLBib
Lecture 5 of 10 from Robert Higgs' Crisis and Liberty: The Expansion of Government Power in American History. Recorded at the Mises Institute on June 25, 2003.
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https://www.youtube.com/watch?v=BNwF-NIQt9E
Bureaucrats operate with de facto electoral unaccountability.
Download lecture slides at https://Mises.org/MU23_PPT_31.
Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2023.
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https://www.youtube.com/watch?v=8IyYQB83dek
In this week's episode, Mark looks at the "Home Town" entrepreneurs in Laurel, Mississippi, who have done so much to turn around the fortunes of their poor and struggling hometown. Mark points out that this is going on all around us, but is seldom recognized—except in the isolation of forgotten small towns. Entrepreneurs make the good of the world we live in, and can help fix the problems that we face.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
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https://www.youtube.com/watch?v=xgiShMWo2Lw
This weekend we feature part of a talk by our old friend Dr. Robert Higgs, a longtime Senior Fellow at the Mises Institute and libertarian stalwart. Bob, author of the famous 'Crisis and Leviathan', recently spoke at Mises University on the critical topic of war and the growth of the state. He considers war the "master key" that enables government to grow in size, scope, and power. This poignant speech is not to be missed by anyone who cares about peace and liberty.
http://store.mises.org/Crisis-and-Leviathan-P138.aspx
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https://www.youtube.com/watch?v=1-gVX0jwT1M
William Walker and his American filibusters find themselves in the middle of an even greater conflict in Latin America as the countries of Costa Rica, Honduras, El Salvador, and Guatemala form an alliance with Walker’s opposition in Nicaragua to defeat him. This episode is Part 4 of 6 in the story of William Walker’s attempt at establishing his own Republic of Nicaragua.
Chris Calton gives a revisionist look at the antebellum period leading up to the Civil War. This is the 17th episode in the second season of Historical Controversies.
Historical Controversies is available online at:
https://Mises.org/HCPod
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Music: "On the Ground" by Kevin MacLeod (incompetech.com), licensed under Creative Commons: By Attribution 3.0
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https://www.youtube.com/watch?v=6drUnCuKXbc
When Murray Rothbard wrote Man, Economy, and State in the 1950s, monopoly theory was a mess. Even Mises did not have a full understanding of where neoclassical economics went wrong in diagnosing "market failure." But in Chapter 10 of his great treatise, Rothbard demolished the myths surrounding monopolies and cartels. His friend Dr. Walter Block joins the show to discuss Rothbard's breakthroughs and draw downward-sloping demand diagrams for us!
We discuss why deadweight loss is nonsense; why government privilege and forced union bargaining are the real culprits; and why cartels are inherently unstable. Even Google should not worry us, says Dr. Block—but with a caveat. Don't miss this show on groundbreaking Rothbardian monopoly insights!
Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES
Man, Economy, and State: Mises.org/MES
Dr. Joe Salerno's introduction to Man, Economy, and State: Mises.org/SalernoMES
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https://www.youtube.com/watch?v=zKLdtCFHm38