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Mises Institute
In this episode, Mark looks at the far away minor issue of the impact of hyperinflation in Zimbabwe. Even though they have switched from Zim dollars to US dollars, ordinary people are still suffering. Their government and its inflationary monetary policy is manifesting itself in some interesting ways.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues
With commercial banks exposed by the recent bailouts, Americans question whether “their money” is truly safe despite the promises of FDIC insurance.
Jeff and Bob walk through the mechanics of how a full reserve bank could work in a truly free market based on the concepts and taxonomy of Mises’s Theory of Money and Credit.
Mises's A Theory of Money and Credit: https://Mises.org/TMC
Bob's study guide to A Theory of Money and Credit: https://Mises.org/HAP388a
John Cochran, 'The Safest Bank the Fed Won't Sanction': https://Mises.org/HAP388b
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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00:00 Introduction
00:50 Mechanics of Loan Banking and Deposit Banking
08:12 Fiduciary Media
18:12 Federal Restrictions on Banking
30:48 The Coming Currency Dystopia
This week on Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Peter St. Onge (https://Mises.org/StOnge), a fellow at the Heritage Foundation and a regular contributor to the Mises Wire. This episode looks at the political response to the recent turmoil in the banking system and how the Austrian position looks today relative to 2008. St. Onge makes a case for optimism.
Recommended Reading
"It Turns Out That Hundreds of Banks Are at Risk" by Peter St. Onge: https://Mises.org/RR_126_A
"The Fed Backtracks on Future Rate Hikes as Bank Failures Loom Large" by Ryan McMaken: https://Mises.org/RR_126_B
"Looming Bank Failures Point to More Price Inflation as Real Wages Fall Again" by Ryan McMaken: https://Mises.org/RR_126_C
Peter St. Onge's Substack: https://StOnge.substack.com
2023 Libertarian Scholars Conference: https://Mises.org/LSC23
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
The Ludwig von Mises Memorial Lecture, sponsored by Yousif Almoayyed.
Recorded at the 2023 Austrian Economics Research Conference hosted at the Mises Institute in Auburn, Alabama, March 16–18, 2023.
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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
00:00 Introduction by Dr. Joe Salerno
03:08 Whither Goest the Entrepreneur
The F.A. Hayek Memorial Lecture, sponsored by Greg and Joy Morin.
Recorded at the 2023 Austrian Economics Research Conference hosted at the Mises Institute in Auburn, Alabama, March 16–18, 2023.
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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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This past weekend saw extraordinary actions by the Fed to address the meltdown of Silicon Valley Bank. Did the central bank break the law by effectively authorizing unsecured loans to banks based on the face value—rather than significantly lower market value—of those banks' Treasury holdings?
Bob's study guide to A Theory of Money and Credit: https://Mises.org/HAP387a
Jeff on the Fed as the ultimate bank: https://Mises.org/HAP387b
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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00:00 Introduction
00:50 Why the SVB failed
10:59 Unsecured Loans
20:17 Bad Banks and Bank Runs
24:51 Full Reserve Banking
35:07 Banking Regulations
SVB Bank and Signature Bank failed this week and were bailed out. Mark explains why the banks failed and why it was bound to happen. The minor issue is that the total FDIC bailout fund is actually smaller than either one of the banks.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Ryan and Tho talk about how last week's banking panic led to new ways for bankers and politicians to exploit regular people through inflation, regulations, and corrupt loans.
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
Mark discusses how the Federal Reserve and Covid restrictions greatly increased the price of cardboard boxes; but, with online sales softening, we should expect suppliers to shift the raw materials used to make boxes (wood pulp) into the production of other paper goods, such as toilet paper. Because our demand for toilet paper is relatively inelastic, we should see a decline in the price of toilet paper and better availability.
The market will reallocate toward consumer wants and lower prices.
Be sure to follow Minor Issues at https://Mises.org/MinorIssues
Progressives view all aspects of human life as a struggle against forces of oppression. Earlier this week on BBC, Professor Mariana Mazzucato suggested governments across the West should simply print money not only to help Ukraine, but also to finance other "wars" against climate change, inequality, and more. Should national treasuries essentially adopt a permanent wartime footing and print far more money, as Mazzucato and Warren Mosler recommend? Hint: Jeff and Bob say "No."
Jeff's article "A Permanent Wartime Economy": https://Mises.org/HAP386a
Bob's debate with Warren Mosler: https://Mises.org/HAP386b
Bob's article in The American Conservative on the Greenbacker movement: https://Mises.org/386c
00:00 Introduction
00:27 Printing Money and War
04:53 Modern Monetary Theory
19:21 A Permanent Wartime Economy
23:51 The Future of Fiscal Policy
Join the Mises Institute and Dr. Michael Rectenwald for an event discussing "The Great Reset" in Birmingham, Alabama, on Saturday, April 22, at Cahaba Brewing Co.
► Register online at http://Mises.org/Birmingham Registration is $50 and includes a catered lunch.
Michael Rectenwald will be our keynote speaker, and we will have his book The Great Reset and the Struggle for Liberty: Unraveling the Global Agenda for sale and autograph, along with other popular titles and memorabilia from the Mises store.
Ryan McMaken and Tho Bishop look at how the regime's narrative on foreign policy is failing, and how some in Congress are finally standing up to the warfare state. Yet, the regime wants more US wars in Syria, Ukraine, and now even Mexico. And you will pay for it all. Will the voters demand a more sane foreign policy in 2024?
Recommended Reading
"The Costs of War in Syria" by Ryan McMaken (2013): https://Mises.org/RR_124_A
"A Permanent Wartime Economy" by Jeff Deist: https://Mises.org/RR_124_B
The War, Economy, and State Podcast with Ryan McMaken and Zachary Yost: https://Mises.org/WES
"Mission Accomplished: Seymour Hersh, Nordstream, and What’s Left on the Cutting Room Floor" by Tom Luongo (LewRockwell.com): https://Mises.org/RR_124_C
"Meanwhile in Yemen, the US Government Supplies Weapons to Continue the Carnage" by Trenton Hale: https://Mises.org/RR_124_D
"House Votes Down Resolution to Withdraw Troops from Syria" by Dave DeCamp (AntiWar.com): https://Mises.org/RR_124_E
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
The Ralph Raico Memorial Commencement Lecture, followed by the Mises Graduate School Commencement Ceremony.
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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
The Henry Hazlitt Memorial Lecture. Sponsored by Harvey and Mei Allison
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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
The Murray N. Rothbard Memorial Lecture. Sponsored by Steven and Cassandra Torello.
Includes the awarding of the Kenneth Garschina Graduate Essay Competition Prizes,
the Lawrence W. Fertig Prize in Austrian Economics, and the O.P. Alford III
Prize in Political Economy.
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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
The Ludwig von Mises Memorial Lecture. Sponsored by Yousif Almoayyed
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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
Austrian scholars discuss their recent books. The panel is chaired by Mark Thornton.
• Luigi Marco Bassani (University of Milan), Chaining Down Leviathan: The American Dream of Self-Government 1776-1865
• Mark Gober (MarkGober.com), An End to the Upside Down Reset
• Peter G. Klein (Baylor University) and Nicolai J. Foss (Copenhagen Business School), Why Managers Matter: The Perils of the Bossless Company
• Ryan McMaken (Mises Institute), Breaking Away: The Case for Secession, Radical Decentralization, and Smaller Polities
• Shawn Ritenour (Mises Institute), The Economics of Prosperity: New Thinking on Economic Growth and Development
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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
The F. A. Hayek Memorial Lecture. Sponsored by Greg and Joy Morin. Includes introductory remarks by Jeff Deist and 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. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, professor of economics at Pace University and academic vice president of the Mises Institute.
Mark talks about the recent price inflation reports, as well as reports of job openings from private sector job placement companies. Inflation was higher than expected and job openings declined. What will the Fed do? People are making painful adjustments—Domino's reported disappointing sales, because their customers are "eating in".
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
With global worldwide debt now over $300 trillion and interest rates rising, the US dollar is once again a relative safe haven in a slowing economy. Currencies competing with the Dollar face a deadly race to stave off a sovereign debt crisis. Is the dollar now unbound, as the dominant political tool of the dominant nation?
The Dollar Milkshake Theory: https://Mises.org/HAP385a
Thorsten Polleit, The Global Currency Plot: https://Mises.org/HAP385b
Bob's book, Understanding Money Mechanics: https://Mises.org/Mechanics
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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00:00 Introduction
00:46 Understanding what 'Money' Really Is
07:08 The Debt Crisis
13:46 How Long the System can Keep Going
18:31 Comparing the US Dollar to Other Currencies
26:24 Aging Populations and Entitlements
30:26 What Replaces the US Dollar?
This episode of Radio Rothbard revisits a point in our previous episode about the popular claim on leftwing Twitter that red-state America would be a "third world country" without support from the federal government. Ryan McMaken and Tho Bishop discuss Ryan's recent article on the topic, as well as the legacy of populist politics, and the unseen consequences of uniparty addiction to DC money.
Recommended Reading
"No, Red State Economies Don't Depend on a "Gravy Train" from Blue States" by Ryan McMaken: https://Mises.org/RR_123_A
"Selling Our Sovereignty: Alabama’s Federal Dependency" by Katherine Green Robertson: https://Mises.org/RR_123_B
"Why MTG Is Right About National Divorce" (Radio Rothbard with Ryan McMaken and Tho Bishop): https://Mises.org/RR_123_C
"How to Think about the Economy" (Mises Seminar in Tampa) featuring Jeff Deist, Dr. Joe Salerno, Dr. Per Bylund, Tho Bishop, and Brett Lindell: https://Mises.org/RR_123_D
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
Mark uses Intel Corporation, the computer chip manufacturer, as a barometer of the business cycle. He looks at the stock price in recent years, its production capacity expansion in recent years, and the company's very recent cost- and dividend-cutting moves.
Check out Mark Thornton's free book, The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century: https://Mises.org/Curse
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Tom Woods joins the show for a look at the hottest political topic of the day, namely national divorce. This is a spirited discussion of the politics, economics, and mechanics of how America might break up.
Watch 'The Economics of National Divorce, Part I' with Ryan McMaken": https://Mises.org/HAP352
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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00:00 Introduction
01:00 The "National Divorce" Debate
14:11 Misinformation from the "Experts"
23:02 The Economic and Political Split
"Why would you want to live in a political union with someone who hates your guts?" Watch the full episode at https://Mises.org/RR122.
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!
To subscribe on your favorite platform, visit https://Mises.org/RothPod
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss this week's Twitter and media campaign by Congresswoman Marjorie Taylor Greene promoting the idea of national divorce. Ryan and Tho read through some of the tweets that the Representative from Georgia made about the practical advantages of a soft secession, as well as comments made by "Very Serious People" deeply offended at the suggestion.
Is Marjorie Taylor Greene guilty of unforgivable high treason? Tune in to find out.
Recommended Reading
"January 6 Trials Remind Us Why We Must Abolish Seditious Conspiracy Laws" by Ryan McMaken: https://Mises.org/RR_122_A
"Secession: Should the American Revolutionaries Have Quit to Appease the Loyalists?" by Ryan McMaken: https://Mises.org/RR_122_B
"The Economics of American Gerontocracy" (Human Action Podcast with Jeff Deist and Bob Murphy): https://Mises.org/RR_122_C
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
The Mises Institute is the research and educational center of classical liberalism, libertarian political theory, and the Austrian School of economics.