University of Rochester economist Steve Landsburg joins Bob to discuss the abysmal performance of ChatGPT on his undergraduate exam. They also discuss the importance of market prices in guiding behavior and the unexpected problems with the government handing out "free" goodies. Bob's article "Superman Needs an Agent:" Mises.org/HAP400a Steven's Book The Armchair Economist: Mises.org/HAP400b More Economic brainteasers: Mises.org/HAP400c ...
Jonathan Newman joins The Human Action Podcast to discuss his recent Twitter controversy over the claim that market prices can be "wrong" (i.e. in disequilibrium) if they are "sticky." Jonathan Newman's Twitter controversy on sticky prices: Mises.org/HAP399a Joe Salerno on Mises's Monetary Theory: Mises.org/HAP399b Bagus and Howden on market disequilibrium and sticky prices: Mises.org/HAP399c ...
Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes. Per's QJAE article: Mises.org/HAP398a
Heritage Fellow Peter St. Onge joins Bob to set the record straight on several popular talking points about the debt ceiling. Bob on selling Gov't resources to reduce the National Debt: Mises.org/HAP397a
Bob originally invited Brian Albrecht (Chief Economist of the International Center for Law & Economics ) to discuss the work of Armen Alchian, but on the day of recording, Robert Lucas happened to die. Bob and Brian discuss rational expectations, real business cycle theory, and how Alchian cracked the military's top secrets. Brian on Alchian's famous "Costs and Outputs" paper: Mises.org/HAP396a...
Dr. Paul Cwik joins Bob to discuss the inverted yield curve's "signal" of an impending recession. Dr. Cwik's dissertation on inverted yield curves and economic downturns: Mises.org/HAP395a Bob on the link between inverted yield curves and recessions: Mises.org/HAP395b Bob's Understanding Money Mechanics: Mises.org/Mechanics
Jonathan Newman joins Bob to critique a recent Twitter argument where some were claiming that supercomputers solved the socialist calculation problem. The Twitter thread on AI and Socialism: Mises.org/HAP394a Bob on Socialism and calculation vs knowledge: Mises.org/HAP394b Karras Lambert and Tate Fegley on economic calculation and AI: Mises.org/HAP394c...
Are NASA contracts propping up the private space industry? Or are Government regulations stifling the private space race? Dr. Eli Dourado, Senior Research Fellow with the Center for Growth and Opportunity at Utah State University, joins Bob to discuss the recent "successful failure" of the exploded SpaceX launch and the differences between government and privately funded space travel. Dr. Dourado on NASA contracting private companies to build their shuttles: Mises.org/HAP393a Dr. Dourado on the ...
Professor Per Bylund joins Bob to debunk the worries over AI and to question whether the latest version of chatbots should even be called "intelligent." Per on Robots Taking your Jobs: Mises.org/HAP392a
Jonathan Newman joins Bob to dissect Paul Krugman's latest NYT op-ed, in which he derides Ron DeSantis as paranoid for thinking a central bank digital currency (CBDC) could be used to control citizens. Krugman's op-ed in the New York Times: Mises.org/HAP391a Bob breaking down negative interest rates: Mises.org/HAP391b
Jeff and Bob review the history and impact of The Human Action Podcast—formerly Mises Weekends—and discuss where the podcast is headed. Get Jeff's new book A Strange Liberty: Politics Drops Its Pretenses: Mises.org/Strange
Bob is joined by guest Peter St. Onge to discuss how SVB's CEO, as well as Bernie Madoff, had key positions advising the Fed and SEC. Then they discuss how we should think about central banks losing money. How the SEC was Charmed by Madoff: Mises.org/HAP389a Bob's Understanding Money Mechanics: Mises.org/HAP389b
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: Mises.org/TMC Bob's study guide to A Theory of Money and Credit: Mises.org/HAP388a John Cochran, 'The Safest Bank the Fed Won'...
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: Mises.org/HAP387a Jeff on the Fed as the ultimate bank: Mises.org/HAP387b...
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...
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: Mises.org/HAP385a Thorsten Polleit, The Global Currency Plot: Mises.org/HAP385b Bob's book, Understanding Money Mechanics: Mises....
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: Mises.org/HAP352
With Yale economics professor Yusuke Narita suggesting mass suicide—seppuku—as the answer to Japan's rapidly aging demographics, Jeff and Bob take a hard look at the economics and humanity of greying America. Richard Hanania, "Gerontocracy Versus Western Civilization": Mises.org/HAP383a Bob on opting out of Social Security: Mises.org/HAP383b
Mises Institute scholar and Troy University business school Dean Allen Mendenhall is among the leading critics of woke capital. He leads a new initiative against the perverse investment practices demanded by ESG/DEI commissars, and joins Jeff Deist to discuss both the origins of "stakeholder" capitalism and what we can do to push back against ideological purity tests in capital markets and corporate America. AllenMendenhall.com "Troy University tackles 'woke' business practic...
Back in January Jeff Deist joined the Austrian Economics Discord Server for a live event concerning trends in 2023. Jeff makes the case for viewing today's economy as quite unlike that of 2007—due to steady increases in CPI, more fiscal stimulus relative to monetary stimulus, and ongoing supply shock issues from COVID. This is a far-ranging discussion of the landscape for the Fed, persistent inflation, and a looming recession. Includes Q and A from the audience....
Professor Per Bylund of Oklahoma State University, author of How to Think About the Economy joins Jeff and Bob to dissect how economics went so badly wrong. A discipline rooted in theory, axioms, and deduction has devolved into statistics, models, and hard science envy. Is the economics profession doing any good, or active harm? Per's new book How to Think About the Economy: Mises.org/Primer Gary North and Walter Block debate "Is it Smart to Get a PhD in Economics": Mises.org/HAP380a...
Jeff and Bob break down this week's Davos WEF conference and consider whether global elites really have the mechanisms to impose their plans. Johnny Vedmore's analysis of Schwab's origins: Mises.org/HAP379a Scott Greer says America's right-want needs to stop dwelling on Schwab: Mises.org/HAP379b Schwab bragging about penetrating Cabinets: Mises.org/HAP379c...
Dr. Peter Klein, professor of entrepreneurship at Baylor University and co-author of the new book Why Managers Matter , joins Jeff and Bob to explain the huge disconnect between supply and demand for labor in post-COVID America. Dr. Klein's new book Why Managers Matter: Mises.org/HAP378a
There is no real housing market in the US. Instead, an unholy trinity of Fannie/Freddie, the US Treasury, and the Federal Reserve Bank operate to distort the market at every turn and drive home prices up dramatically. Mises Institute Senior Fellow Alex Pollock, an economist and former mortgage banker, joins Jeff to describe the reality few Americans know. Alex Pollock's new book Surprised Again: The Covid Crisis and the New Market Bubble : Mises.org/HAP377a Alex Pollock on how the Fed becam...
Bob and Jeff make their provocative 2023 predictions for the economy, the Fed, politics, world events, and cultural issues.
This week's show features a bare-knuckle discussion between Jeff and José Niño of " El Niño Speaks " on the biggest political, economic, and cultural events of 2022—and what they portend for 2023. You don't want to miss Jeff's unvarnished thoughts on the Left, the Right, the economy, and what is sure to be a turbulent New Year. Read José's Substack: josbcf.substack.com ...
Does 2022 America still have legitimate intellectuals? Professor Paul Gottfried joins Jeff and Bob to consider the state of real and pseudo-intellectualism.
Hunter Hastings of Economics for Business joins Jeff for a thoroughgoing discussion of how monetary and fiscal policy distort capital markets and create perverse incentives for financialization rather than real production. Jeff Deist, "Does M&A benefit the economy?": Mises.org/HAP373-A Rothbard's America's Great Depression: Mises.org/AGD The Economics for Business Podcast: Mises.org/E4Bpod...
Jeff and Bob break down the good, bad, and ugly behind Elon Musk's purchase of Twitter.
Jeff and Bob record a special Thanksgiving episode for Money Talk 1010 AM on what it really takes to fix the US economy. Mark Thornton on the coming economic crisis: Mises.org/HAP371A Listen to Jeff on Money Talk 1010 every Thursday at 9:00am ET: Mises.org/MoneyTalk
