Mark Thornton looks at the potential for everyone to run for the exits in the financial markets. In the absence of a gold monetary system and full reserve deposit banking, only the Fed can engineer economy-wide liquidity crises or fundamental crises.
Order a free paperback copy of Murray Rothbard’s What Has Government Done to Our Money? at https://Mises.org/IssuesFree
This episode features a talk Chris Calton gave to Auburn’s Young Americans for Liberty on April 20, as part of the "Reclamation of Liberties" event (see Mises.org/YAL2019). In the talk, Chris offers an overview of the history of the governmental efforts to stigmatize marijuana in order to justify criminalization and draconian enforcement policies. He traces the changing narrative and strategies for propaganda to illustrate the evolution of propaganda over time, providing insight into how the government and media work together to shape public perception.
You may support this podcast financially at Mises.org/SupportHC.
Historical Controversies is available online at:
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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=EULGKeZ3gNw
Government attempts to limit “monopoly power” cannot improve well-being.
Download lecture slides at https://Mises.org/MU23_PPT_15
Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2023.
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Featuring Per Bylund, Tom DiLorenzo, Sandy Klein, Patrick Newman, Tim Terrell, and Mark Thornton. Recorded at the Mises Institute in Auburn, Alabama, on 23 July 2021.
Questions asked in this panel:
00:00 Introduction
00:49 Who was the worst US president?
03:15 What are some strategies for realizing Austrian Economics?
07:14 How effective is non-violent activism?
09:24 What is some literature on privatizing public land?
12:06 Can entrepreneurship be used to spread the ideas of the Austrian School?
13:19 Was the Capitol Hill Autonomous Zone (CHAZ) a good example of succession?
15:42 How have affirmative action policies affected the current generation of college students?
22:11 What are your opinions on Andrew Johnson?
23:03 Should students pursue a degree in economics?
26:44 Will humanity be forever fighting the state?
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https://www.youtube.com/watch?v=SzHL2jM3k48
Professor Jonathan Newman joins the show for a look at America's Great Depression, Rothbard's classic explanation of a terrible period in US history. This book provides one of the best short surveys of Austrian business cycle theory, along with deep history surrounding the inflationary run-up of the 1920s and the disastrous mistakes made by the "laissez-faire" Hoover administration in the 1930s. Any serious student of booms and busts needs to read this cautionary tale, as does anyone worried about unconstrained monetary policy in the wake of Covid-19 lockdowns. It can happen here, and it can happen again, if Rothbard's counsel goes unheard.
Find the online version of the book at https://Mises.org/GreatDepression
Receive a discount on America's Great Depression in the Mises Bookstore with code HAPOD15%
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Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved.
Download *What Has Government Done to Our Money?* for free at https://mises.org/WHGD
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Economics is treated by many as an arid field of mathematical modeling. Human beings are treated as data in the model, almost the way physics regards atoms and molecules. This approach to economics doesn’t help people much; it doesn’t help us understand the world, and isn’t helping us build a better future.
Austrian economics is humanistic; it treats humans as people, pursuing their hopes and dreams, frequently changing, seldom predictable, and never acting like data in a model.
That’s why we see our brand of economics as animating: helping people to understand better how to identify the best means for their chosen ends. For businesspeople, that translates into knowledge, processes and tools to help businesses grow and thrive.
Show notes: https://mises.org/library/jeff-deist-animating-economics-serve-real-people-and-real-businesses
Economics For Business utilizes a journey metaphor for the entrepreneurial process. Take a look at our visual summary at https://Mises.org/E4B_100_PDF.
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https://www.youtube.com/watch?v=bCxaQrlmpEQ
On the latest Radio Rothbard, Ryan McMaken and Tho Bishop celebrate World Economic Forum week by discussing the Managerial Revolution. While James Burnham's disinterest in economics made his criticism of capitalism cringey, modern financialization has manipulated the profit and loss mechanisms that any fan of his work can appreciate. Also, what is the lasting impact of the political capture of corporate power? Will the next crisis allow for a needed re-evaluation of insidious neoliberalism, or will "hypercapitalism" get the blame? Tune in for this and more on this week's episode.
Recommended Reading
"The Fed Is a Purely Political Institution, and It's Definitely Not a Bank" by Ryan McMaken: https://Mises.org/RR_117_A
"Financialization: Why the Financial Sector Now Rules the Global Economy" by Ryan McMaken: https://Mises.org/RR_117_B
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
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https://www.youtube.com/watch?v=t4Ya9Q12Zw4