Bob goes solo to explain the contributions of Carl Menger and Ludwig von Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus. Bob's Article, "Origin of the Specie": Mises.org/HAP464a R. A. Radford, "The Economic Organisation of a P.O.W": Mises.org/HAP464b Bob's Book, Understanding Money Mechanics: Mises.org/HAP464c Get your ticket to Living Free in an Unfree World in Albuquerque, New Mexico: Mises.org/N...
Sep 06, 2024•Ep. 464
Dr. Jonathan Newman joins Bob to analyze Kamala Harris's proposals against price gouging, and how some mainstream economists defend Government price controls. They also address misconceptions about price gouging and the evolving mainstream narrative on inflation. Bob's Article on Harris's Anti-Price Gouging Proposals: Mises.org/HAP463a The Boston Globe Article Supporting Harris's Proposal: Mises.org/HAP463b For the week only, get a FREE copy of Dr. Per Bylund's How to Think About the Economy: Mi...
Aug 31, 2024•Ep. 463
Bob quotes from David Ricardo to show that the classical economists understood that utility was essential to explaining market value, but then he also explains why the Marginalist Revolution was a scientific advancement. Bob's Journal of Libertarian Studies Article on The Labor Theory of Value: Mises.org/HAP462a Human Action Podcast Episode 460, "What Does Say’s Law Really Say?": Mises.org/HAP462b David Ricardo, On the Principles of Political Economy and Taxation: Mises.org/HAP462c For the next ...
Aug 23, 2024•Ep. 462
With recent market turbulence and new potential recession indicators emerging, Peter St. Onge joins Bob to examine whether market performance accurately reflects the true state of economic health. There is rising debt, growing entitlements, and ongoing structural issues within the US economy, Bob and Professor St. Onge analyze how these factors contribute to our current economic landscape and whether recent developments are indicative of a 1987-style crash or a 2008-style crash. They also explai...
Aug 16, 2024•Ep. 461
Bob goes solo to give the historical context and true meaning behind "Say's Law," as well as the caricature presented by Keynesian critics. J.B. Say's A Treatise on Political Economy: Mises.org/HAP460a James Mill, "On the Overproduction and Underconsumption Fallacies": Mises.org/HAP460b 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 Mises.org/HAPodFree...
Aug 09, 2024•Ep. 460
Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory. 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 Dr. Thornton’s Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459a...
Aug 04, 2024•Ep. 459
Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes. This is relevant because the populist Right is arguing for a hike in tariffs to fund income tax cuts. Bob's Article, "Carbon Taxes and the 'Tax Interaction Effect'": Mises.org/HAP458a Trump-Biden Tariff Tracker: Mises.org/HAP458b Bob and Dave Smith on Open Borders: Mises.org/HAP458c Frédéric Bastiat's Candlestick Makers' Petition: Mises.org/HAP458d Join Peter Klein and Ryan McMaken in Al...
Jul 27, 2024•Ep. 458
Jason Purcell is an analyst at a major financial institution with a specialty in bond analysis. He joins Bob to discuss his historical analysis of yield curves (in both UK and US) going back to the 1870s, which shows that central banks do indeed manipulate short-term interest rates. Bob's Article on the Inverted Yield Curve: Mises.org/HAP457a Goerge Selgin's Cato Article on the Fed: Mises.org/HAP457b The Charts Referenced in this Episode: Mises.org/HAP457c Jason's Twitter: Mises.org/HAP457d...
Jul 20, 2024•Ep. 457
Bob critiques MMT godfather Warren Mosler's recent interview on the Odd Lots podcast, where Mosler argued that the Fed rate hikes have been fueling the strong economy. Bob's Critique of Stephanie Kelton's MMT Documentary: Mises.org/HAP456a Join us in Fort Myers, Florida, on November 9, 2024, to cut through the political noise and discuss the state of the economy. Distinguished speakers Tom DiLorenzo, Mark Thornton, and Murray Sabrin will challenge prevailing economic myths and take a critical lo...
Jul 12, 2024•Ep. 456
Are wealthy people getting wealthier because they work harder? Dr. Jonathan Newman is back on the show to discuss Robert Reich's latest videos about debunking economic myths. Robert Reich incorrectly blames the free market when businesses act on incentives provided by the government. He condenses this information into short, impactful videos for his audience. However, most of what Reich talks about isn't really economics. And when he does discuss economics, he relies on flawed assumptions that h...
Jul 05, 2024•Ep. 455
Kyle Anzalone from AntiWar.com and the Libertarian Institute joins Bob to discuss the timeline of Wikileaks and why the US government disliked Julian Assange. This week, Assange was offered his freedom in exchange for admitting to espionage charges, but what exactly did he do? And how can the US prosecute Assange when he is not a US citizen? Bob and Kyle review the facts, including how Wikileaks began, the information they leaked, and the reasons behind Julian Assange's arrest. Kyles Article on ...
Jun 28, 2024•Ep. 454
Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios. Reason Debate Between Bob and George Selgin: Mises.org/HAP453a George Selgin Interview on Free Banking: Mises.org/HAP453b Selgin's Response to Bob on Twitter: Mises.org/HAP453c Rothbard's Economic Controversies: Mises.org/HAP453d Join us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hil...
Jun 21, 2024•Ep. 453
In a new YouTube series , former US Secretary of Labor Robert Reich promises to explode ten "economic myths." Jonathan Newman joins Bob to respond to the first two episodes in the series, regarding whether economics is an objective science, and whether government intervention interferes with a free market. Robert Reich's 'Debunking Economic Myths' Series: Mises.org/HAP452a Bob's JLS Article on Kevin Carson's Studies in Mutualist Political Economy: Mises.org/HAP452b Dr. Newman Debunking Robert Re...
Jun 14, 2024•Ep. 451
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? W...
Jun 07, 2024•Ep. 452
Jonathan Newman returns to help Bob dissect a Twitter thread melting down about Rep. Massie's new bill to End the Fed. The X thread discussing the "End the Fed Bill": Mises.org/HAP450a Selgin, Lastrapes, and White, "Has the Fed Been a Failure?": Mises.org/HAP450b Bob's Article, "Putting the Country Back on Gold": Mises.org/HAP450c 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 Mises.org/Money Human Action Podca...
Jun 01, 2024•Ep. 450
Garett Jones is Associate Professor of Economics at the Mercatus Center at George Mason University. He joins Bob to discuss his book, detailing the impact that immigrants' culture has on the institutions of their new home. Professor Jones' New Book, The Culture Transplant: Mises.org/HAP449a 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 Mises.org/Money Human Action Podcast listeners can get a free book: Mises.o...
May 24, 2024•Ep. 449
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: Mises.org/HAP448a Bob's Book on MMT, Understanding Money Mechanics: Mises.org/HAP448b Bob's MisesU Lecture, "Price Inf...
May 17, 2024•Ep. 448
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: Mises.org/HAP447a Bob's Book on MMT, Understanding Money Mechanics: Mises.org/HAP447b Radford's Paper on P.O.W. Camps: Mises.org/HAP447c The Upside-Down World of MMT: Mises.org/HAP447d Bob's Article on Debt and Future Generation...
May 10, 2024•Ep. 447
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: Mises.org/HAP446a Human Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree...
May 04, 2024•Ep. 446
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: Mises.org/HAP445a Martin Wolf's Article on Government Debt: Mises.org/HAP445b Bob's Debate with Warren...
Apr 26, 2024•Ep. 445
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: Mises.org/HAP444a Human Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree...
Apr 19, 2024•Ep. 444
Simon Guenzl joins Bob to push back on Dave Smith's recent appearance, where Dave had made the case against open borders. Guenzl has published a libertarian critique of the Hoppean framework. The debate revolves around the status of government property. Bob plays devil's advocate, especially with a lightning round of "hard cases" for Guenzl at the end. Simon's paper, "Public Property and the Libertarian Immigration Debate" in Libertarian Papers: Mises.org/HAP443a Dave Smith on Open Borders: Mise...
Apr 12, 2024•Ep. 443
Nick Gillespie, editor-at-large for Reason, recently got into a friendly dispute with Bob over whether American libertarians were being too pessimistic. He joins Bob to make the case for optimism, while Bob demurs. Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree
Apr 05, 2024•Ep. 442
On March 26 Bob gave this talk at Oklahoma State, where he was invited by the Free Enterprise Society. He assumed the students had no prior knowledge of the topic and made the case, from scratch, for a voluntary society with privately provided legal and defense services. Bob's article, "Libertarian Law and Military Defense" in Libertarian Papers: Mises.org/HAP441a Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree...
Mar 29, 2024•Ep. 441
Ryan McMaken recently gave a talk at Oklahoma State outlining the history of secessions and making the case that they promote liberty and peace. He joins Bob to discuss his major themes and to address common objections. Ryan's Talk at Oklahoma State: Mises.org/HAP440a Breaking Away: The Case for Secession: Mises.org/HAP440b Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human A...
Mar 23, 2024•Ep. 440
Christian Sandström is a Swedish economist who joins Bob to discuss his new (co-edited) book , which makes the case that massive government funding projects aren't necessary to promote science or industrial growth. Dr. Sandströmm's Moonshots and the New Industrial Policy: Mises.org/HAP439a Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human Action Conference : Mises.org/...
Mar 15, 2024•Ep. 439
Tom DiLorenzo spent a long and productive career in academia before assuming his current position as president of the Mises Institute. He joins Bob to discuss his early days getting into economics, and some of his important work on antitrust policy. He also discusses his popular books on Abraham Lincoln. Though it all, Tom stresses the importance of the Austrian viewpoint. Tom's Paper on the Origins of Antitrust: Mises.org/HAP438a Nullification: An Interview with a Zombie: Mises.org/HAP438b Huma...
Mar 08, 2024•Ep. 438
Brent Johnson of Santiago Capital created the "dollar milkshake" theory, which says that in a global sovereign debt crisis, the USD, gold, and US stock market will all rise. He joins Bob for a friendly disagreement over the dynamics of a decline in foreign demand to hold USD. The ZeroHedge Debate: Mises.org/HAP437a Bob's Post-Game Analysis of the Debate: Mises.org/HAP437b Brent Johnson Explains The Dollar Milkshake Theory: Mises.org/HAP437c Bob's Article, 'What Does "Debt-Based" Money Imply for ...
Mar 01, 2024•Ep. 437
Dave Smith makes the Rothbardian/Hoppean case for government restriction on immigration, arguing that it's a second-best solution given the undeniable fact of government control of "public" property. Bob plays devil's advocate to raise possible objections to Dave's framework. Rothbard, "Nations by Consent": Mises.org/HAP436a Hans-Hermann Hoppe, "On Free Immigration and Forced Integration": Mises.org/HAP436b Bryan Caplan, "A Radical Case for Open Borders": Mises.org/HAP436c Human Action Po...
Feb 23, 2024•Ep. 436
On February 13, 2024, Bob participated (with Jim Rickards, Brent Johnson, and Michael Every) in a ZeroHedge debate on the fate of the USD. In this episode of the Human Action podcast, Bob highlights some of the key issues and explains why he thinks his side won. The ZeroHedge Debate: Mises.org/HAP435a Brent Johnson's Milkshake Theory: Mises.org/HAP435b Egert's Article on the Public Debt Threshold: Mises.org/HAP435c Bob's Article on the Latest CBO Federal Debt Report: Mises.org/HAP435d Human Acti...
Feb 16, 2024•Ep. 435
