Mises Institute
“Sociology is in constant danger of thinking something is a law that is not a law. And economists frequently think that something is a hypothesis for the viable regularity when it is, in fact, a logically necessary truth. And Mises is a person who can set us right in all of this. and help us avoid these confusions that have invaded most of the social sciences.”
Presented at the 2024 Human Action Conference on Friday, 17 May 2024, at the Mises Institute in Auburn, Alabama.
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In this week's episode, Mark analyzes the record high price of copper. He explains why Wall Street focuses on the price of copper and why this crucial economic indicator seems at odds with the weak global economy. This has serious implications for our economic future. Get a free copy of Mark's book, The Skyscraper Curse, for the rest of the story: https://Mises.org/Curse.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Order a free paperback copy of Murray Rothbard’s What Has Government Done to Our Money? at https://Mises.org/Money.
"The empire can and should be dismantled. 1949 was a crucial mistake—a pivot point that has led to this massive fiscal and political crisis that we have in America today. This is pretty evident to a lot of us, but it was evident to Mises in 1949, and I think we should have followed his advice."
Presented at the 2024 Human Action Conference on Friday, 17 May 2024, at the Mises Institute in Auburn, Alabama.
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Tom DiLorenzo welcomes attendees to the 2024 Human Action Conference. Recorded Friday, 17 May 2024, at the Mises Institute in Auburn, Alabama.
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Mateusz "Matt" Machaj holds a PhD in economics and is a Fellow with the Mises Institute, who has also won both the Douglas E. French and the Lawrence Fertig prizes in Austrian economics. He joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation.
Dr. Machaj's Monetary Policy and Inflation: https://Mises.org/HAP448a
Bob's Book on MMT, Understanding Money Mechanics: https://Mises.org/HAP448b
Bob's MisesU Lecture, "Price Inflation: Corona vs. QE": https://Mises.org/HAP448c
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction
01:50 The Quantity Theory of Money
05:32 Do Increases in Money Supply Always Lead to Inflation?
18:44 Why Wasn't There Inflation in 2009?
24:41 The "Money Multiplier" Model
42:33 What Austrian Economists See that Others Can't
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss a recent op-ed from a trio of octogenarian former Republican senators lamenting the state of the GOP.
Discussed on the Show
“Between Trump and Biden, what should real Republicans do?” by John Danforth, William Cohen and Alan Simpson: https://Mises.org/RR_186_A
“To Stop the Left, America Needs a Rothbardian Right” by Tho Bishop: https://Mises.org/RR_186_B
Claim your free copy of What Has Government Done to Our Money?: https://Mises.org/Money
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In this week’s episode, Mark looks at the current state of the commercial real estate market, especially the problematic refinancing requirement in an environment of lower prices and a declining tenant base. Combined with a higher interest rate, this market faces difficult financing over the next three years. This is another negative manifestation of the Fed’s control over interest rates in our economy.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Order a free paperback copy of Murray Rothbard’s *What Has Government Done to Our Money?* at https://Mises.org/Money.
The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at https://Mises.org/Money
Stephanie Kelton is the star of a new documentary film touting the alleged brilliance of Modern Monetary Theory (MMT). Murphy gives a comprehensive critique of the film, covering the flaws in its theory, history, and policy recommendations.
Finding the Money Documentary: https://Mises.org/HAP447a
Bob's Book on MMT, Understanding Money Mechanics: https://Mises.org/HAP447b
Radford's Paper on P.O.W. Camps: https://Mises.org/HAP447c
The Upside-Down World of MMT: https://Mises.org/HAP447d
Bob's Article on Debt and Future Generations: https://Mises.org/HAP447e
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction
01:59 The MMT Argument
08:10 Who is Stephanie Kelton?
11:10 MMT's Convincing Strategy
17:36 How Kelton Came to the MMT Side
21:28 The Biggest Flaw in the MMT Argument
31:04 Non Sequiturs Snuck Into the Documentary
39:17 Kelton's Claim of Debt as a Financial Asset
57:30 Do Recessions Follow Federal Budget Surpluses?
59:55 Why Does Gov. Need to Borrow if they can just Print?
1:16:04 MMT Doesn't Understand Money
1:32:45 Conclusion
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss the media campaign around Joseph Stiglitz’s new book, The Road to Freedom, which coincides with the birthday of one of his favorite targets: F.A. Hayek. Is Stiglitz, a past champion of Hugo Chavez, someone we should trust with his vision of true freedom?
Discussed on the Show
“Clinton Adviser, Nobel Prize Winning Economist Endorsed Venezuelan Socialism” by Tho Bishop: https://Mises.org/RR_185_A
“Sorry, Stiglitz: It’s Socialism That’s Rigged — not Capitalism” by William L. Anderson: https://Mises.org/RR_185_B
“Freedom for the Wolves” by Joseph E. Stiglitz: https://Mises.org/RR_185_C
“Neoliberal economics: The road to freedom or authoritarianism?” by Greg Rosalsky: https://Mises.org/RR_185_D
“Joseph Stiglitz and the Meaning of Freedom” by John Cassidy: https://Mises.org/RR_185_E
Claim your free copy of What Has Government Done to Our Money?: https://Mises.org/Money
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The Mises Institute's Connor O'Keeffe recently wrote an article detailing the campus protests over the happenings in Gaza. Connor joins Bob to discuss his article, the recent antisemitism bill, and why we should be defunding universities.
Connor's Article on the Campus Protests: https://Mises.org/HAP446a
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction
01:29 The Campus Protests
06:30 Looking at the Facts of Gaza
10:20 What Started the Columbia Campus Protest
15:20 The Social Side of the Protests
19:15 The Protestor's Goals
25:33 Are the Protests Anti-Semetic?
31:26 The Protestors Motivations
41:31 The Anti-Semetism Bill
49:44 Conclusions
In this episode, Mark Thornton discusses Consumer Confidence as a reliable indicator of the current economy. Individual components of the index are declining, but do not yet indicate a looming crisis or recession. Mark thinks that it does indicate, along with other economic statistics, of a clear worsening in the economy and his predictions for 2024.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues
Get your free copy of Dr. Guido Hülsmann's *How Inflation Destroys Civilization* at https://Mises.org/IssuesFree
Dr. Paul is right! People need to look at the money issue. Wars, spending and debt accumulation, subsidies, both domestic and abroad, are intimately linked to the money machine known as the Federal Reserve.
Central banks have two main purposes: inflate the money supply and give bailouts to the big financial firms. By inflating the money supply, governments can finance their operations cheaply and surreptitiously. If we wish to oppose the state and all its evils, we must point to the source, the Federal Reserve.
This opposition is why we are creating our new Federal Reserve documentary. The Fed has created its own narrative for far too long, but now we're telling the world the real deal.
Help us meet our fundraising goal. Donate $50 today (https://Mises.org/Fed) and receive our NEW booklet by Murray Rothbard, *Taking Back Our Money*. Donors of $1,000 or more will be listed in the film credits.
Please give today! https://Mises.org/Fed
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Peter St. Onge, a visiting fellow of the Heritage Foundation. As inflation remains high, even Washington's preferred jobs and economic growth measures are beginning to weaken, fueling fears of stagflation. Peter, Ryan, and Tho talk about what this means for Americans, its potential political fallout for November, and what mix of "carrots and sticks" Washington may have planned for dealing with the public backlash.
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“How many people in our history―a couple hundred years―took the oath of office, and how many times did they violate the oath of office?”
This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
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Washington Post conservative George Will trots out every tired slogan and bromide in the book to claim that Putin is Hitler and the Ukraine war is a fight for civilization.
Recommended Reading
“So, 112 ignoble, infantile Republicans voted to endanger civilization“ by George Will: https://Mises.org/WES_20_A
“Piers Morgan vs John Mearsheimer” on YouTube: https://Mises.org/WES_20_B
Be sure to follow War, Economy, and State at https://Mises.org/WES.
“In return for power, positions, and money, intellectuals persuade the majority that their government is good, wise, and at least inevitable.”
This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
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"The government is determined to get between us and the truth."
This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Seditious conspiracy—like all conspiracy charges in American law—is essentially a thought crime and a speech crime.
This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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In this week's episode, Mark examines the Chocolate Crisis of 2024. Cocoa prices have skyrocketed. The media is trying to paint this as another example of the ravages of Climate Change, but the market is making all of its typical adjustments to ensure that chocolate products continue to flow to consumers, and also making adjustments to improve the long term conditions.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree
Recently on Twitter, as a reaction to an FT post worrying about the growing debts of various governments, fans of MMT were posting screenshots from a May 2020 FT debate involving Stephanie Kelton. The implication was that Kelton had correctly predicted that government debt would be benign. Bob and guest Jonathan Newman dissent.
Stephanie Kelton and Edward Chancellor's Debate on Government Debt: https://Mises.org/HAP445a
Martin Wolf's Article on Government Debt: https://Mises.org/HAP445b
Bob's Debate with Warren Mosler on MMT: https://Mises.org/HAP445c
Bob and Jonathan's Episode on Price Inflation: https://Mises.org/HAP445d
Bob's Article on the Economic Outlook for the US: https://Mises.org/HAP445e
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Free Book!
00:25 Introduction
03:38 MMT's Results over the Past Four Years
12:49 How MMT Views Debt Differently
20:48 Using Interest Rates as a Policy Tool
26:26 Debt Crisis Risks and Historical Examples
34:39 Could Inflation be Useful for Governments?
38:10 Did Kelton Think Inflation was Transitory?
40:05 Kelton's Prediction
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss Tucker Carlson's recent interview with Joe Rogan, and why he's right about America's dangerous "security" agencies.
Discussed on the Show
"The FBI and CIA Are Enemies of the American People" by Ryan McMaken https://Mises.org/RR_183_A
"Cowardice, Not Courage, Led House Republicans to Side with the Democrats" by Connor O'Keeffe: https://Mises.org/RR_183_B
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Mark Thornton launches a new podcast called "Unanimity: Where Thoughts Matter". Exploring basic concepts of the world and humanity, he hopes to unlock the mystery of widespread disagreeableness in society.
Please subscribe to this monthly podcast at https://Mises.org/Unanimity.
Unanimity will not replace the weekly Minor Issues podcast (https://Mises.org/MinorIssues).
Historian David Beito has a new book from the Independent Institute titled, "The New Deal's War on the Bill of Rights." He joins Bob to discuss issues such as the Japanese concentration camps and the government's mass surveillance of telegrams.
David's new book, The New Deal's War on the Bill of Rights: https://Mises.org/HAP444a
Human Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: https://Mises.org/HAPodFree
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Podcasts ► https://mises.org/podcasts
Chapters
00:00 Free Book!
00:25 Introduction
00:59 FDR, Interment Camps, and WWII
16:12 FDR Using the Federal Communications Commission During WWII
29:03 The FCC Supressing Free Speech
32:28 Roosevelt's Secret Taping of Whitehouse Meetings
37:42 Political Wiretapping
51:48 Sedition Trial
In this week's episode, Mark takes another look at the Producer Price Index. As suggested in an episode from September 2023 (see https://Mises.org/MI_35), the PPI has indeed leveled off and is no longer "contributing" to the Federal Reserve's "Immaculate Disinflation." Mark points out that wholesale price increases are already in the long PPI "pipeline" and will likely make the Fed's announced plans fall apart.
Additional Resources
PPI at Fred: https://Mises.org/MI_67A
PPI 2022: "The Producer Price Index" at https://Mises.org/MI_35
CPI: "Where’s the Beef?" at https://Mises.org/MI_36
"The Fed's Immaculate Disinflation": https://Mises.org/MI_03
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss Renato Moicano's viral Mises moment and the backlash it received from pundit Sohrab Ahmari.
Discussed on the Show
"Six Graphs Showing Just How Much the Government Has Grown" by Ryan McMaken https://Mises.org/RR_182_A
"Why You Should Read Ludwig von Mises" by Tho Bishop: https://Mises.org/RR_182_B
"Mises Against the Neoliberals" by Ryan McMaken: https://Mises.org/RR_182_C
Claim your free book: https://Mises.org/RothPodFree
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The Mises Institute is the research and educational center of classical liberalism, libertarian political theory, and the Austrian School of economics.